Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) in Interventional Neuroradiology Market Size, Share, and Analysis, By Products and Services (Hardware [Head Mounted Devices, Hand-held Devices, and Others], Software, and Services), Technology (Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR)), By Application (Medical Training & Education, Surgery, and Diagnosis & Others), By End-user (Hospitals & Clinics, Academic & Research Institutes, and Others), and Geography Forecast till 2032

Interventional neuroradiology is a specialty radiology procedure that makes use of medical imaging for the diagnosis and treatment of neurological disorders. It involves the use of cutting-edge imaging and guidance techniques to guide the catheter or other instruments around the arteries and veins. Artificial intelligence (AI) has been shown to have the potential and capability to support and enhance operations in a wide range of techniques essential for interventional neuroradiology, including image fusion, positioning and trajectory of catheters and probes, vessel analysis, and others.

Meanwhile, augmented reality (AR) and virtual reality (VR) have established their capabilities to provide interactive visualization and navigation of medical images, enabling more precise and efficient planning and guidance for interventional procedures. These technologies can be beneficial in the diagnosis and treatment of various neurological disorders associated with the head, neck, and spinal cord as they provide a better imaging output.

The increasing prevalence of disorders such as intracranial brain aneurysms, stroke, cerebral venous sinus thrombosis, and others have been fueling the demand for interventional neuroradiology. This has been recorded as artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) used in interventional neuroradiology can be helpful in the early diagnosis and treatment of these diseases.

• For instance, as per data published by the American Academy of Neurology in 2021, the prevalence of stroke in the U.S. was about 3.0% in adults 20 years or older, which accounts for approximately 7 million strokes in the population.

Moreover, the increasing launch of innovative products with advanced technologies and advantages of AI, AR and VR, such as interactive visualization, pre-procedural planning, image fusion, and others, has been fueling the market growth.

Impact of COVID-19 on the Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) in Interventional Neuroradiology Market

The global artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) in the interventional neuroradiology market experienced a decline in its value in the year 2020, during the COVID-19 pandemic, due to lockdown restrictions. The decline in the market growth was due to the lower number of patients visiting hospitals and clinics for treatments to control the spread of the virus. For instance, according to a research study published by the National Center for Biotechnology Information (NCBI) in 2020, non-COVID-19 admissions during the period decreased by 42.8% in the U.S.

However, the market grew at a significant growth rate in 2022 due to the relaxation of lockdown restrictions and market players’ increasing emphasis on expanding the availability of its services and products globally.

Segmentation

Key Insights

The report covers the following key insights:

• Prevalence of Neurological Disorders - By Key Countries/Sub-region, 2022/2023


• Overview of the Novel Applications of Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) in Interventional Neuroradiology


• Technological Advancements


• Regulatory Scenario - By Key Countries/Sub-region


• Key Industry Developments (Mergers, Acquisitions, Partnerships, and Others)


• Impact of COVID-19 on the Market

Analysis by Technology

On the basis of technology, artificial intelligence (AI) accounted for a significant market share in 2023. The growth of the segment is attributed to advantages such as improvement in procedures, image reconstruction, ease in diagnosis, ease in catheter positioning, and others associated with the use of Artificial Intelligence (AI) in interventional neuroradiology.

The augmented reality (AR) segment is expected to grow at a substantial CAGR during the forecast period. The growth of this segment is attributed to the increased use of products with Augmented Reality (AR) technology designed for use in interventional neuroradiology.

• For instance, in November 2023, MediView, a MedTech company developing augmented reality x-ray vision for surgery, announced the first inpatient utilization of its XR90 Augmented Reality (AR)-based surgical visualization and navigation system. The system is approved by the U.S. Food and Drug Administration and is indicated for use in minimally invasive ultrasound and CT guided needle-based procedures for soft tissue and bone.

Regional Analysis

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North America is projected to account for a significant share of the global artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) in the interventional neuroradiology market in 2023. The growth of the market in the region is attributed to the strong focus of key players in the market to expand their reach in the region.

• For instance, in November 2023, Brainomix, a company specializing in the creation of artificial intelligence (AI)–powered software solutions, announced its expansion in the U.S. with the launch of its full suite of Brainomix 360 platform for stroke care. The suite has been approved by the Food and Drug Administration (FDA).

The Europe market is expected to grow at a significant CAGR during the forecast period. The growth is attributed to the increasing prevalence of neurological disorders in the region.

• For instance, in October 2020, according to a study published by the National Center for Biotechnology Information, in Europe, neurological disorders represent 13.3% of total disability-adjusted life-years (DALYs) and almost 19.5% of deaths.

Key Players Covered

The report includes the profiles of key players such as CAE Healthcare Inc., Enlitic, Inc., Fundamental Surgery, Tempus, Augmedics, MEDIVIS, icometrix, QuantX, MediView, Viz.ai, Inc., and others.

Key Industry Developments

• In November 2022, Viz.ai, Inc., a medical imaging company, launched the AI-powered radiology suite, which is specifically designed to alert radiologist in their workflow of suspected diseases, prioritize worklists, and connect care teams in real-time.


• In June 2022, Augmedics, a company focused on the adoption of augmented reality (AR) in surgical navigation, announced that it had raised a USD 82.5 million investment to accelerate the adoption of augmented reality spine surgery.