The artificial intelligence in the diagnostic global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence In The Diagnostic Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence in the diagnostic market size has grown exponentially in recent years. It will grow from $3.06 billion in 2023 to $4.29 billion in 2024 at a compound annual growth rate (CAGR) of 40.3%. The growth in the historic period can be attributed to rising disease burden, data availability, cost reduction, regulatory support, increasing awareness.
The artificial intelligence in the diagnostic market size is expected to see exponential growth in the next few years. It will grow to $16.24 billion in 2028 at a compound annual growth rate (CAGR) of 39.5%. The growth in the forecast period can be attributed to personalized medicine trends, rapid increase in healthcare data, global health challenges, increased investments, enhanced integration with healthcare systems. Major trends in the forecast period include collaboration and investment, advancements in technology, data privacy and security concerns, rise of explainable ai (xai), expanding role of computer vision.
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Scope Of Artificial Intelligence In The Diagnostic Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence In The Diagnostic Market Overview
Market Drivers –
The rising prevalence of chronic diseases is expected to propel the growth of AI in the diagnostics market going forward. Chronic diseases are long-term health conditions that persist over an extended period, often for a person’s lifetime. The incorporation of AI-based diagnostic processes in chronic diseases enables early detection, prediction, and enhanced decision support systems, remote monitoring of patients, cost reduction, and tailoring treatments to individual patients by analyzing their genetic makeup and disease progression. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million fatalities annually, constituting 74% of non-communicable disease (NCD) or chronic disease-related deaths worldwide. Further, around 17.9 million deaths are attributed to cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rising prevalence of chronic diseases is driving the growth of AI in the diagnostics market.
Market Trends –
Major companies operating in the AI in diagnostics market are developing new technologies, such as AI modules, to gain a competitive edge in the market. An AI module is a self-contained software component that encapsulates specific AI capabilities or functionalities. For instance, in March 2023, Qritive, a Singapore-based provider of AI-powered solutions, launched QAi Prostate for prostate cancer diagnosis. QAi Prostate can efficiently recognize the most common form of prostate cancer, potentially improving diagnostic accuracy and reducing false positives. The tool helps pathologists distinguish cancerous from non-cancerous tissue areas, aiding in informed treatment decisions. QAi Prostate can prioritize cases for faster diagnosis and reporting, improving efficiency and patient care.
The artificial intelligence in the diagnostic market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, NLP (Natural Language Processing), Context-Aware Computing, Computer Vision
3) By Diagnosis Type: Radiology, Pathology, Cardiology, Oncology, Neurology, Chest And Lung, Other Diagnosis Types
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Regional Insights –
North America was the largest region in the artificial intelligence in diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in the diagnostic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the artificial intelligence in the diagnostic market report are Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare Technologies Inc., Paige.AI Inc., HeartFlow Inc., Aidoc Medical Ltd., AliveCor Inc., Butterfly Network Inc., Imagen Technologies, Digital Diagnostics Inc., Brainomix Ltd., NovaSignal Corp., Enlitic Inc., Nano-X Imaging LTD., EchoNous Inc., Zebra Medical Vision Ltd., Aidence B.V., Neural Analytics Inc., IDx Technologies Inc., icometrix N.V., Vuno Inc.
Table of Contents
1. Executive Summary
2. Artificial Intelligence In The Diagnostic Market Report Structure
3. Artificial Intelligence In The Diagnostic Market Trends And Strategies
4. Artificial Intelligence In The Diagnostic Market – Macro Economic Scenario
5. Artificial Intelligence In The Diagnostic Market Size And Growth
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27. Artificial Intelligence In The Diagnostic Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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