I think the best you can do is test the simple, mathematically well-defined building blocks your algorithm consists of, like linear filters, morphological operations, FFT, wavelet transforms etc. These are often tricky enough to implement efficiently and correctly for all border cases so verifying them does make sense.
For an actual algorithm like image segmentation, TDD doesn't make much sense IMHO. I don't even think unit-tests make sense here. Sure, you can write tests, but those will always be extremely fragile. A typical image processing algorithm needs a few parameters that have to be adjusted for the desired results (a process that can't be automated, and can't be done before the algorithm is working). The results of a segmentation algorithm aren't well defined either, but your unit test can only test for some well-defined property. An algorithm can have that property without doing what you want, or the other way round, so your test result isn't very informative. Also, to test the results of a segmentation algorithm you need to write a lot of pretty hard code, while verifying the results visually is pretty easy and you have to do it anyway.
I think in a way it's similar to unit-testing user interfaces: Testing the actual well-defined functionality (e.g. when the user clicks this button, some item is added to this list and this label shows that text...) is relatively easy and can save a lot of work and debugging. But no test in the world will tell you if your UI is usable, understandable or pretty, because these things just aren't well defined.