Artificial Intelligence Diagnostics Market Synopsis:
Artificial Intelligence Diagnostics Market Size Was Valued at USD 2.74 Billion in 2023, and is Projected to Reach USD 38.71 Billion by 2032, Growing at a CAGR of 34.21% From 2024-2032.
The Artificial Intelligence (AI) Diagnostics Market can be defined as the application of AI technologies for diagnosing diseases and other medical conditions by interpreting large volumes of potentially complex data such as medical images, genetic data, and electronic health records (EHRs). They have utilised various AI systems to improve accuracy, speed, and efficiency of diagnosis as well as to have early diagnosis of diseases.
AI Diagnostics Market is rapidly growing in the last few years because of innovations in machine learning and deep learning, big data analytics. DIAGNOSTIC uses of AI tools have been incorporated in numerous diagnostic areas including; imaging, and pathology, thus aiding the professionals in their decision-making processes. The increased use of electronic health records together with AI capacities to analyze huge volumes of data have supplemented diagnostic operations, minimized human intervention, and increased the accuracy of diagnoses. Medical diagnosis by AI systems is now an essential feature of modern strategies for delivering healthcare in all the healthcare facilities across the globe.
It is worth using AI diagnostics in industries where data analysis is rather challenging and fulfillment of the required number of operations is rather urgent. For example, in radiology, an AI capable of processing thousands of images will quickly identify various patterns in images that are hard for a human eye to identify. In the same way, in genomics, it can make diagnoses based on genetic sequences to determine markers for diseases such as cancer. While it is clear that AI-based diagnostics has much potential the following barriers still hinder its progress: legal constraints, data protection issues, alongside incorporation into the already established healthcare systems. But the market remains an open playing ground because of technological advancement and increasing need for personalized medicine.
Artificial Intelligence Diagnostics Market Trend Analysis:
AI-Powered Medical Imaging
- AI in diagnostics was also found to be on the rise, with the most popular growth trend for AI being its application in medical imaging. Commercial breast imaging software is designed to help the radiologists to improve accuracy and speed, when diagnosing tumors, fractures, or lesions. These tools may also increase diagnostic accuracy because medical images can be analyzed with wireless algorithms that might reveal statistically detectable features that human vision might not perceive.
- AI has undoubtedly made a huge impact in diagnostic error reduction specifically in medical imaging. For instance, AI systems are used in oncology to identify cancer cells from images of the breast, using mammography, computed tomography or Magnetic Resonance Imaging. This has not only improved the chances of early detection and treatment of cancer but has also taken care of a load off the doctors who concentrate on complicated cases. As imaging techniques progress, so does the technology behind AI imaging tools that are currently already part of the standard clinical practice.
Precision Medicine
- One of the greatest opportunities of applying AI into diagnostics is precision medicine, as it deals with individual patient’s characteristics. With the use of artificial intelligence, large datasets such as genetics, environment and life style can be analyzed, leading to the formulation of good clinical strategies in handling patients. Personalized medicine is the idea of dispensing medicine depending on patient characteristics and abilities, and AI helps identify the best treatment method according to patient information.
- This opportunity is especially valuable in areas like oncology where AI can determine how patients are likely to react to specific cures. Specifically, the system of AI can help oncologists to decide on finding the right treatment for cancer based on genetic mutations. Growing incorporation of Artificial Intelligence in the support of precision medicine due to the ongoing transition of healthcare systems towards the individualized approach will propel growth in the diagnostics market.
Artificial Intelligence Diagnostics Market Segment Analysis:
Artificial Intelligence Diagnostics Market is Segmented on the basis of Component and Diagnosis Type.
By Component, Software segment is expected to dominate the market during the forecast period
- The AI Diagnostics Market is classified by system into organized software, hardware, and services. This segment covers algorithms and platforms that are used for assessment of diagnostic information, and it is the largest one. AI diagnostic software is also dynamic; the current development in machine learning and deep learning enables the diagnosis of various diseases in domains such as radiology and pathology. Software solutions are, as a rule, cloud-based, so they integrate with the HCIT systems and allow for remote diagnostics.
- Hardware is encompassing all the physical tools that are utilized in AI diagnosis, inclusive of rugged GPUs for calculating diverse algorithms. While the market may not be as large as for software, hardware continues to be crucial to guaranteeingIT processing strength to support AI systems. Services include installation, maintenance and upgrade of the AI diagnostic application which is important for the running of complicated AI systems in clinical settings.
By Diagnosis Type, Oncology segment expected to held the largest share
- The market is sub-divided depending on the entry type of diagnosis, and these are cardiology; oncology; pathology; radiology; chest and lung; neurology; others. Oncology is among the fastest-growing segments because of the increasing cases of cancer and the call for early diagnosis. Molecular diagnostics across oncology sectors assist clinicians in processing and interpreting large datasets from imaging, genetic, and histological examinations that facilitate the early diagnosis of cancer and, consequently, fewer deaths.
- Another large segment is the radiology, in which AI is implemented to read simple and complex pictures like an x-ray or MRI scan. Radiologists use AI systems where it helps in second opinion, in identifying abnormality and time-saving in image analysis. These findings reveal that the use of AI in radiology is especially favorable for conditions that require early and fast detection and include fractures, tumors, and lung diseases.
Artificial Intelligence Diagnostics Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- North America holds the largest share in the growth of AI Diagnostics Market due to well-developed healthcare systems, significant fund on AI and healthcare solutions and presence of dominant players. California and the U.S. in particular continue to dominate the approach due to recursive initiatives on the regulation of application of AI, availability of vast health care data, and digitization in health care systems.
- It also attributed to the synergies between tech and healthcare organizations that work together on the creation of new AI diagnostic models. Thanks to the increasing popularity of precision medicine which is backed by AI, the overall demand for the market in North America is steadily increasing. Some of the areas in which AI has been deployed for early diagnosis include oncology and radiology, and the region has turned itself into the world hub for AI diagnoses.
Active Key Players in the Artificial Intelligence Diagnostics Market:
- IBM Watson Health (USA)
- Google Health (USA)
- GE Healthcare (USA)
- Siemens Healthineers (Germany)
- Philips Healthcare (Netherlands)
- Zebra Medical Vision (Israel)
- Butterfly Network (USA)
- PathAI (USA)
- Tempus (USA)
- Arterys (USA)
- Aidoc (Israel)
- Enlitic (USA)
- Other Active Players
Key Industry Developments in the Artificial Intelligence Diagnostics Market:
- In June 2022, Bayer launched Calantic digital solutions to help address radiology industry challenges. The new platform includes apps to assist radiologists with workload management, lesion detection, and patient management. Bayer expanded the digital capabilities of its radiology business with the launch of artificial intelligence-based apps for X-ray, MRI, and CT imaging.
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Artificial Intelligence Diagnostics Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 2.74 Billion |
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Forecast Period 2024-32 CAGR: |
34.21% |
Market Size in 2032: |
USD 38.71 Billion |
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Segments Covered: |
By Component |
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By Diagnosis Type |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Artificial Intelligence Diagnostics Market by Component
4.1 Artificial Intelligence Diagnostics Market Snapshot and Growth Engine
4.2 Artificial Intelligence Diagnostics Market Overview
4.3 Software
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Software: Geographic Segmentation Analysis
4.4 Hardware
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Hardware: Geographic Segmentation Analysis
4.5 Services
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.5.3 Key Market Trends, Growth Factors and Opportunities
4.5.4 Services: Geographic Segmentation Analysis
Chapter 5: Artificial Intelligence Diagnostics Market by Diagnosis Type
5.1 Artificial Intelligence Diagnostics Market Snapshot and Growth Engine
5.2 Artificial Intelligence Diagnostics Market Overview
5.3 Cardiology
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Cardiology: Geographic Segmentation Analysis
5.4 Oncology
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Oncology: Geographic Segmentation Analysis
5.5 Pathology
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Pathology: Geographic Segmentation Analysis
5.6 Radiology
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Radiology: Geographic Segmentation Analysis
5.7 Chest and Lung
5.7.1 Introduction and Market Overview
5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.7.3 Key Market Trends, Growth Factors and Opportunities
5.7.4 Chest and Lung: Geographic Segmentation Analysis
5.8 Neurology
5.8.1 Introduction and Market Overview
5.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.8.3 Key Market Trends, Growth Factors and Opportunities
5.8.4 Neurology: Geographic Segmentation Analysis
5.9 Others
5.9.1 Introduction and Market Overview
5.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.9.3 Key Market Trends, Growth Factors and Opportunities
5.9.4 Others: Geographic Segmentation Analysis
Chapter 6: Company Profiles and Competitive Analysis
6.1 Competitive Landscape
6.1.1 Competitive Benchmarking
6.1.2 Artificial Intelligence Diagnostics Market Share by Manufacturer (2023)
6.1.3 Industry BCG Matrix
6.1.4 Heat Map Analysis
6.1.5 Mergers and Acquisitions
6.2 IBM WATSON HEALTH (USA)
6.2.1 Company Overview
6.2.2 Key Executives
6.2.3 Company Snapshot
6.2.4 Role of the Company in the Market
6.2.5 Sustainability and Social Responsibility
6.2.6 Operating Business Segments
6.2.7 Product Portfolio
6.2.8 Business Performance
6.2.9 Key Strategic Moves and Recent Developments
6.2.10 SWOT Analysis
6.3 GOOGLE HEALTH (USA)
6.4 GE HEALTHCARE (USA)
6.5 SIEMENS HEALTHINEERS (GERMANY)
6.6 PHILIPS HEALTHCARE (NETHERLANDS)
6.7 ZEBRA MEDICAL VISION (ISRAEL)
6.8 BUTTERFLY NETWORK (USA)
6.9 PATHAI (USA)
6.10 TEMPUS (USA)
6.11 ARTERYS (USA)
6.12 AIDOC (ISRAEL)
6.13 ENLITIC (USA)
6.14 OTHER ACTIVE PLAYERS
Chapter 7: Global Artificial Intelligence Diagnostics Market By Region
7.1 Overview
7.2 . North America Artificial Intelligence Diagnostics Market
7.2.1 Key Market Trends, Growth Factors and Opportunities
7.2.2 Top Key Companies
7.2.3 Historic and Forecasted Market Size by Segments
7.2.4 Historic and Forecasted Market Size By Component
7.2.4.1 Software
7.2.4.2 Hardware
7.2.4.3 Services
7.2.5 Historic and Forecasted Market Size By Diagnosis Type
7.2.5.1 Cardiology
7.2.5.2 Oncology
7.2.5.3 Pathology
7.2.5.4 Radiology
7.2.5.5 Chest and Lung
7.2.5.6 Neurology
7.2.5.7 Others
7.2.6 Historic and Forecast Market Size by Country
7.2.6.1 US
7.2.6.2 Canada
7.2.6.3 Mexico
7.3 . Eastern Europe Artificial Intelligence Diagnostics Market
7.3.1 Key Market Trends, Growth Factors and Opportunities
7.3.2 Top Key Companies
7.3.3 Historic and Forecasted Market Size by Segments
7.3.4 Historic and Forecasted Market Size By Component
7.3.4.1 Software
7.3.4.2 Hardware
7.3.4.3 Services
7.3.5 Historic and Forecasted Market Size By Diagnosis Type
7.3.5.1 Cardiology
7.3.5.2 Oncology
7.3.5.3 Pathology
7.3.5.4 Radiology
7.3.5.5 Chest and Lung
7.3.5.6 Neurology
7.3.5.7 Others
7.3.6 Historic and Forecast Market Size by Country
7.3.6.1 Russia
7.3.6.2 Bulgaria
7.3.6.3 The Czech Republic
7.3.6.4 Hungary
7.3.6.5 Poland
7.3.6.6 Romania
7.3.6.7 Rest of Eastern Europe
7.4 . Western Europe Artificial Intelligence Diagnostics Market
7.4.1 Key Market Trends, Growth Factors and Opportunities
7.4.2 Top Key Companies
7.4.3 Historic and Forecasted Market Size by Segments
7.4.4 Historic and Forecasted Market Size By Component
7.4.4.1 Software
7.4.4.2 Hardware
7.4.4.3 Services
7.4.5 Historic and Forecasted Market Size By Diagnosis Type
7.4.5.1 Cardiology
7.4.5.2 Oncology
7.4.5.3 Pathology
7.4.5.4 Radiology
7.4.5.5 Chest and Lung
7.4.5.6 Neurology
7.4.5.7 Others
7.4.6 Historic and Forecast Market Size by Country
7.4.6.1 Germany
7.4.6.2 UK
7.4.6.3 France
7.4.6.4 The Netherlands
7.4.6.5 Italy
7.4.6.6 Spain
7.4.6.7 Rest of Western Europe
7.5 . Asia Pacific Artificial Intelligence Diagnostics Market
7.5.1 Key Market Trends, Growth Factors and Opportunities
7.5.2 Top Key Companies
7.5.3 Historic and Forecasted Market Size by Segments
7.5.4 Historic and Forecasted Market Size By Component
7.5.4.1 Software
7.5.4.2 Hardware
7.5.4.3 Services
7.5.5 Historic and Forecasted Market Size By Diagnosis Type
7.5.5.1 Cardiology
7.5.5.2 Oncology
7.5.5.3 Pathology
7.5.5.4 Radiology
7.5.5.5 Chest and Lung
7.5.5.6 Neurology
7.5.5.7 Others
7.5.6 Historic and Forecast Market Size by Country
7.5.6.1 China
7.5.6.2 India
7.5.6.3 Japan
7.5.6.4 South Korea
7.5.6.5 Malaysia
7.5.6.6 Thailand
7.5.6.7 Vietnam
7.5.6.8 The Philippines
7.5.6.9 Australia
7.5.6.10 New Zealand
7.5.6.11 Rest of APAC
7.6 . Middle East & Africa Artificial Intelligence Diagnostics Market
7.6.1 Key Market Trends, Growth Factors and Opportunities
7.6.2 Top Key Companies
7.6.3 Historic and Forecasted Market Size by Segments
7.6.4 Historic and Forecasted Market Size By Component
7.6.4.1 Software
7.6.4.2 Hardware
7.6.4.3 Services
7.6.5 Historic and Forecasted Market Size By Diagnosis Type
7.6.5.1 Cardiology
7.6.5.2 Oncology
7.6.5.3 Pathology
7.6.5.4 Radiology
7.6.5.5 Chest and Lung
7.6.5.6 Neurology
7.6.5.7 Others
7.6.6 Historic and Forecast Market Size by Country
7.6.6.1 Turkiye
7.6.6.2 Bahrain
7.6.6.3 Kuwait
7.6.6.4 Saudi Arabia
7.6.6.5 Qatar
7.6.6.6 UAE
7.6.6.7 Israel
7.6.6.8 South Africa
7.7 . South America Artificial Intelligence Diagnostics Market
7.7.1 Key Market Trends, Growth Factors and Opportunities
7.7.2 Top Key Companies
7.7.3 Historic and Forecasted Market Size by Segments
7.7.4 Historic and Forecasted Market Size By Component
7.7.4.1 Software
7.7.4.2 Hardware
7.7.4.3 Services
7.7.5 Historic and Forecasted Market Size By Diagnosis Type
7.7.5.1 Cardiology
7.7.5.2 Oncology
7.7.5.3 Pathology
7.7.5.4 Radiology
7.7.5.5 Chest and Lung
7.7.5.6 Neurology
7.7.5.7 Others
7.7.6 Historic and Forecast Market Size by Country
7.7.6.1 Brazil
7.7.6.2 Argentina
7.7.6.3 Rest of SA
Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies
Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
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Artificial Intelligence Diagnostics Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 2.74 Billion |
|
Forecast Period 2024-32 CAGR: |
34.21% |
Market Size in 2032: |
USD 38.71 Billion |
|
Segments Covered: |
By Component |
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|
|
By Diagnosis Type |
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|
By Region |
|
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|
Key Market Drivers: |
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Key Market Restraints: |
|
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Key Opportunities: |
|
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Companies Covered in the report: |
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