Artificial Intelligence (Ai) in Medical Diagnostics Market

Artificial Intelligence (Ai) in Medical Diagnostics Market by Component (Software, Service), Application (In Vivo, Radiology, OBGY,MRI, CT, Ultrasound, IVD), End User (Hospital, Diagnostic Laboratory, Diagnostic Imaging Center)- Global Forecast to 2025

Report Code: HIT 7875 Apr, 2021, by marketsandmarkets.com

[172 Pages Report] The global AI in medical diagnostics market is projected to reach USD 3,868 million by 2025 from USD 505 million in 2020, at a CAGR of 50.2% during the forecast period. Growth in this market is primarily driven by government initiatives to increase the adoption of AI-based technologies, increasing demand for AI tools in the medical field, growing focus on reducing the workload of radiologists, influx of large and complex datasets, growth in funding for AI-based start-ups, and the growing number of cross-industry partnerships and collaborations.

Artificial Intelligence (Ai) in Medical Diagnostics Market

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COVID-19 Impact on the AI in medical diagnostics Market

Pandemics such as COVID-19 require investments for additional manpower, equipment, consumables, and other resources to ensure 100% preparedness for safety in hospitals and, if needed, eventual treatment of patients. The COVID-19 pandemic is an accelerator for AI technology by creating opportunities for leveraging these tools for healthcare advancement.

AI and radiomics, which are being applied to X-ray and CT scans as advanced imaging tools in the detection and follow-up of COVID-19, have been able to diagnose the presence of the infection. This is because AI algorithms and radiomics used for chest X-rays can help undertake massive screening programs. For instance, Zhongnan Hospital (China) uses AI to interpret CT scans and identify COVID-19 symptoms when human radiologists are unavailable. Similarly, the Tampa General Hospital (Florida, US) uses an AI-driven technology to screen individuals for COVID-19 before they interact with the hospital staff and other patients. The Massachusetts General Hospital (Boston, US) also used AI-powered robots, which obtain vital signs and provide care to COVID-19 patients. This allows healthcare staff to potentially reduce human contact, which is important to curb the spread of the disease.

Providence St. Joseph Health (Seattle, US) used an AI-powered chatbot that screened and triaged more than 40,000 patients, categorizing them by the level of care needed and freeing doctors and nurses to focus on at-risk individuals in an unprecedented time of one week. Thus, physicians are taking the help of the augmented abilities of AI and responding to the requirements efficiently and quickly.

AI in medical diagnostics market Dynamics

Drivers: Growing number of cross-industry partnerships and collaborations

The growing awareness of the benefits offered by AI techniques and their wide application areas has led to the increased adoption of these products and services in the healthcare market. Various leading companies in the healthcare market are entering into partnerships and collaborations with leading AI technology providers to come up with innovative AI-based solutions for applications in healthcare. Such strategies enable these market players to offer advanced solutions to their customers and strengthen their position in this dynamic market space. A few important developments in this regard have been mentioned below:

  • As of December 2019, Google's DeepMind division is working with the Moorfields Eye Hospital in the UK to improve prior eye disease research and assist eye doctors in assessing the risk of a patient’s eye problem and directing them to medical care based on the urgency of the condition.
  • In 2019, NVIDIA and King’s College London partnered to build an AI platform for the NHS. This partnership is aimed at enabling the NHS to train computers to automate the most time-consuming part of radiology interpretation.
  • In 2020, Intel partnered with the Maricopa County Community College District (MCCCD) to launch the first Intel-designed AI associate degree program in the US. It would enable tens of thousands of students to land careers in the high-tech, healthcare, automotive, industrial, and aerospace fields.
  • In April 2019, Intel (US) and Siemens Healthineers (Germany) collaborated on a breakthrough AI-based cardiac MRI segmentation and analysis model that has the potential to provide real-time cardiovascular disease diagnosis. Using 2nd-generation Intel Xeon Scalable processors for AI inference, Intel and Siemens Healthineers have decided to deliver MRI inferencing results to technologists, cardiologists, and radiologists in real-time.

Due to the growing demand for novel AI-based techniques in the medical diagnostics market, such developments are helping companies gain momentum in terms of developing advanced products and tools.

Restrains: Reluctance among medical practitioners to adopt AI-based technologies

Extensive growth in digital health has enabled healthcare providers to assist patients through novel treatment approaches. AI technologies offer doctors with tools that help them better diagnose and effectively treat patients. However, there is an observed reluctance among doctors about new technologies. For instance, there is a misconception among medical practitioners that AI will replace doctors in the coming years. Doctors and radiologists believe that skills such as empathy and persuasion are human skills, and thus, technologies cannot completely rule out the presence of a doctor. Additionally, there is a concern that patients may show an excessive inclination toward these technologies and may forgo necessary in-person treatments, which might also challenge long-term doctor-patient relationships.

Currently, many healthcare professionals have doubts about the capabilities of AI solutions in terms of accurately diagnosing patient conditions. Considering this, it is challenging to convince providers that AI-based solutions are cost-effective, efficient, and safe solutions that offer convenience to doctors as well as better care for patients.
However, healthcare providers are increasingly accepting the potential benefits of AI-based solutions and the spectrum of applications they serve. Hence, there is a possibility that in the coming years, doctors and radiologists will show more inclination toward AI-based technologies in healthcare.

Opportunities: Untapped emerging markets

Emerging markets such as India, China, and Brazil are expected to offer significant growth opportunities for players operating in the AI in medical diagnostics market. This can majorly be attributed to the rising patient population in these countries. According to the National Institute of Health and Family Welfare (NIHFW), in India, it is estimated that there are 2 to 2.5 million cancer patients at any given point of time; every year, about 0.7 million new cases are reported in the country. Furthermore, the healthcare sectors in emerging economies, such as India and China, are rapidly growing, resulting in the introduction of new medical technologies with a special focus on advanced imaging equipment. All these factors, coupled with the growing population in these countries, are expected to increase the medical imaging data volumes in their respective healthcare systems. This provides a great untapped development opportunity for AI-based solutions in emerging countries.

North America to witness significant growth from 2020 to 2025

The global AI in medical diagnostics market has been segmented into North America, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). In 2019, North America accounted for the largest market share of 37.6%. However, the APAC  market is projected to register the highest CAGR of 53.2% during the forecast period, primarily due to the growth strategies adopted by companies in emerging markets, improved medical diagnostic infrastructure, increasing geriatric population, rising prevalence of cancer, favorable government initiatives for AI in healthcare, and the increasing number of COVID-19 positive patients.

Artificial Intelligence (Ai) in Medical Diagnostics Market  by Region

Key Market Players

Some of the prominent players operating in the AI in medical diagnostics market are Microsoft Corporation (US), NVIDIA (US), IBM (US), Intel (US), Siemens Healthineers (Germany), GE Healthcare (US), Digital Diagnostics (US), Xilinx (US), InformAI (US), Enlitic (US), Day Zero Diagnostics (US), Aidence (Netherlands), Butterfly Network, Inc. (US), Prognos (US), Zebra Medical Vision (Israel), Viz.ai (US), Quibin (Spain), Qure.ai (India), Therapixel (France), and HeartFlow (US).

Scope of the report

Report Metric

Details

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD Million)

Segments covered

By Component, By Application, By End User & By Region

Geographies covered

North America, Europe, Asia Pacific, ROW

Companies covered

The major market players include Microsoft Corporation (US), NVIDIA (US), IBM (US), Intel (US), Siemens Healthineers (Germany), GE Healthcare (US), Digital Diagnostics (US), Xilinx (US), InformAI (US), Enlitic (US), Day Zero Diagnostics (US), Aidence (Netherlands), Butterfly Network, Inc. (US), Prognos (US), Zebra Medical Vision (Israel), Viz.ai (US), Quibin (Spain), Qure.ai (India), Therapixel (France), and HeartFlow (US), (Total 20 companies)

By Component

  • Software
  • Services

By Application

  • In Vivo Diagnostics
    • By Speciality
      • Radiology
      • Cardiology
      • Neurology
      • Obstretics/ Gynecology
      • Opthalmology
      • Others
    • By Modalities
      • MRI
      • CT scan’
      • X rays
      • Ultrasound
      • Others
  • In Vitro Diagnostics

By End User

  • Hospitals
  • Diagnostic Imaging Centers
  • Diagnostic Laboratories
  • Others

By Region

  • North America
      • US
      • Canada
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe (RoE)
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of APAC (RoAPAC)
  • RoW

Recent Developments

  • In 2020, NVIDIA acquired Mellanox Technologies, Ltd. for a transaction value of USD 7 billion. This acquisition combined NVIDIA’s leading computing expertise with Mellanox’s high-performance networking technology to enable customers to achieve higher performance, greater utilization of computing resources, and lower operating costs
  • In 2020. Microsoft and Redmond partnered to deliver a programming interface for reading imaging data and helping in the detection and treatment of diseases. 
  • In 2019, ACR will install the NVIDIA Clara AI toolkit at the ACR AI Lab to allow 38,000 ACR members and other radiology professionals to build, share, locally adapt, and validate AI algorithms, while also ensuring that patient data stays protected at the local institution

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 24)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 INCLUSIONS & EXCLUSIONS
           1.3.1 MARKETS COVERED
           FIGURE 1 AI IN MEDICAL DIAGNOSTICS MARKET SEGMENTATION
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH DATA
    2.2 RESEARCH METHODOLOGY STEPS
           FIGURE 2 RESEARCH METHODOLOGY: AI IN MEDICAL DIAGNOSTICS MARKET
           FIGURE 3 RESEARCH DESIGN
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
           FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
           FIGURE 5 PRIMARY SOURCES
                    2.2.2.1 Key data from primary sources
    2.3 MARKET SIZE ESTIMATION METHODOLOGY
           FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           FIGURE 7 MARKET SIZE ESTIMATION
    2.4 MARKET DATA ESTIMATION AND TRIANGULATION
           FIGURE 8 DATA TRIANGULATION METHODOLOGY
    2.5 ASSUMPTIONS FOR THE STUDY
    2.6 COVID-19-SPECIFIC ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 35)
           FIGURE 9 AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2020 VS. 2025 (USD MILLION)
           FIGURE 10 AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2020 VS. 2025 (USD MILLION)
           FIGURE 11 AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2020 VS. 2025 (USD MILLION)
           FIGURE 12 GEOGRAPHICAL SNAPSHOT OF THE AI IN MEDICAL DIAGNOSTICS MARKET

4 PREMIUM INSIGHTS (Page No. - 38)
    4.1 AI IN MEDICAL DIAGNOSTICS MARKET OVERVIEW
           FIGURE 13 INFLUX OF LARGE AND COMPLEX DATASETS IN HEALTHCARE TO DRIVE MARKET GROWTH
    4.2 NORTH AMERICA: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION AND COUNTRY (2019)
           FIGURE 14 IN VIVO DIAGNOSTIC APPLICATIONS SEGMENT ACCOUNTED FOR THE LARGEST SHARE OF THE NORTH AMERICAN MARKET IN 2019
    4.3 AI IN MEDICAL DIAGNOSTICS MARKET SHARE, BY APPLICATION, 2020 VS. 2025
           FIGURE 15 IN VIVO DIAGNOSTIC APPLICATIONS SEGMENT WILL CONTINUE TO DOMINATE THE MARKET IN 2025
    4.4 AI IN MEDICAL DIAGNOSTICS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
           FIGURE 16 APAC MARKET TO REGISTER THE HIGHEST GROWTH DURING THE FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 41)
    5.1 INTRODUCTION
           FIGURE 17 AI IN MEDICAL DIAGNOSTICS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.1.1 DRIVERS
                    5.1.1.1 Influx of large and complex datasets
                    5.1.1.2 Growing number of cross-industry partnerships and collaborations
                    5.1.1.3 Increasing demand for AI tools in the medical imaging field and rising focus on reducing the workload of radiologists
                    5.1.1.4 Government initiative to increase the adoption of AI-based technologies
                    5.1.1.5 Growth in funding for AI-based start-ups
           5.1.2 RESTRAINTS
                    5.1.2.1 Reluctance among medical practitioners to adopt AI-based technologies
                    5.1.2.2 Lack of skilled AI workforce and ambiguous regulatory guidelines for medical software
           5.1.3 OPPORTUNITIES
                    5.1.3.1 Untapped emerging markets
                    5.1.3.2 Growing potential of AI-technology in imaging & diagnostics to fight COVID-19
                    5.1.3.3 Increasing focus on developing human-aware AI systems
           5.1.4 CHALLENGES
                    5.1.4.1 Budgetary constraints
                    5.1.4.2 Lack of curated healthcare data
                    5.1.4.3 Concerns regarding data privacy
           FIGURE 18 TYPES OF HEALTHCARE BREACHES REPORTED TO THE US DEPARTMENT OF HEALTH AND HUMAN SERVICES (2018 TO 2020)
                    5.1.4.4 Lack of interoperability between AI solutions offered by different vendors
    5.2 VALUE CHAIN ANALYSIS
           FIGURE 19 AI IN MEDICAL DIAGNOSTICS MARKET: VALUE CHAIN ANALYSIS
    5.3 CASE STUDIES
           5.3.1 FOCUS ON IMPROVING WORKFLOW EFFICACY AND REDUCING THE BURDEN ON RADIOLOGISTS
                    5.3.1.1 Use case 1: Reducing the burden on radiologists by developing and testing an AI model to read large ultrasound data
           5.3.2 IMPROVED TRIAGE
                    5.3.2.1 Use case 2: Precision Driven Health developed ML model to help improve work triage of cardiologists (2019)
    5.4 IMPACT OF COVID-19 ON THE AI IN MEDICAL DIAGNOSTICS MARKET
           FIGURE 20 PRE- AND POST-COVID-19 IMPACT ANALYSIS
    5.5 ECOSYSTEM COVERAGE
           FIGURE 21 AI IN MEDICAL DIAGNOSTICS ECOSYSTEM
    5.6 TECHNOLOGY ANALYSIS
           TABLE 1 TECHNOLOGICAL DEVELOPMENTS BY LEADING VENDORS
    5.7 REGULATIONS
           5.7.1 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT OF 1996 (HIPAA)
           5.7.2 HEALTH INFORMATION TECHNOLOGY FOR ECONOMIC AND CLINICAL HEALTH ACT OF 2009 (HITECH)
           5.7.3 CONSUMER PRIVACY PROTECTION ACT OF 2017
           5.7.4 NATIONAL CYBERSECURITY PROTECTION ADVANCEMENT ACT OF 2015
           5.7.5 FUTURE OF LIFE INSTITUTE’S ASILOMAR AI PRINCIPLES
           5.7.6 THE EUROPEAN MEDICAL DEVICES REGULATION (EU) 2017/745 AND IN-VITRO DIAGNOSTIC MEDICAL DEVICES REGULATION (EU) 2017/746 IN COMBINATION WITH THE GENERAL DATA PROTECTION REGULATION 2016/679
           5.7.7 THE CYBERSECURITY LAW OF THE PEOPLE'S REPUBLIC OF CHINA
    5.8 PRICING ANALYSIS

6 ARTIFICIAL INTELLIGENCE IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT (Page No. - 56)
    6.1 INTRODUCTION
           TABLE 2 AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           6.1.1 SOFTWARE
                    6.1.1.1 Software segment to witness higher growth during the forecast period
           TABLE 3 AI IN MEDICAL DIAGNOSTICS SOFTWARE MARKET, BY REGION, 2018–2025 (USD MILLION)
           6.1.2 SERVICES
                    6.1.2.1 Services segment to account for a larger share of the market during the forecast period
           TABLE 4 AI IN MEDICAL DIAGNOSTICS SERVICES MARKET, BY REGION, 2018–2025 (USD MILLION)

7 ARTIFICIAL INTELLIGENCE IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION (Page No. - 59)
    7.1 INTRODUCTION
           TABLE 5 AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
    7.2 IN VIVO DIAGNOSTICS
           TABLE 6 AI IN IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY REGION, 2018–2025 (USD MILLION)
           7.2.1 IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY
           TABLE 7 AI IN IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
                    7.2.1.1 Radiology
                               7.2.1.1.1 AI-based diagnostic tools help ease the workflow of radiologists
           TABLE 8 AI IN RADIOLOGY MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.1.2 Cardiology
                               7.2.1.2.1 Increased complexity of sudden cardiac diseases to drive market growth
           TABLE 9 AI IN CARDIOLOGY MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.1.3 Neurology
                               7.2.1.3.1 Increased start-up funding to drive market growth
           TABLE 10 AI IN NEUROLOGY MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.1.4 Obstetrics/gynecology
                               7.2.1.4.1 Rising use of minimally invasive techniques in gynecology procedures to drive market growth
           TABLE 11 AI IN OBSTETRICS/GYNECOLOGY MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.1.5 Ophthalmology
                               7.2.1.5.1 Need for early detection and prevention of eye diseases driving the adoption of AI-based diagnostic tools
           TABLE 12 AI IN OPHTHALMOLOGY MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.1.6 Other specialties
           TABLE 13 AI IN OTHER SPECIALTIES MARKET, BY REGION, 2018–2025 (USD MILLION)
           7.2.2 IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY
           TABLE 14 AI IN IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
                    7.2.2.1 Computed tomography
                               7.2.2.1.1 Need for efficient diagnosis will drive the adoption of AI in computed tomography
           TABLE 15 AI IN COMPUTED TOMOGRAPHY MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.2.2 X-ray
                               7.2.2.2.1 Companies such as NVIDIA, Intel, and Xilinx are developing AI-based tools exclusively in this space
           TABLE 16 AI IN X-RAY MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.2.3 Magnetic resonance imaging
                               7.2.2.3.1 Increasing burden of brain-related disorders to drive the adoption of AI in magnetic resonance imaging
           TABLE 17 AI IN MAGNETIC RESONANCE IMAGING MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.2.4 Ultrasound
                               7.2.2.4.1 Increasing prevalence of ovarian cancer and the need for its early diagnosis will drive market growth
           TABLE 18 AI IN ULTRASOUND MARKET, BY REGION, 2018–2025 (USD MILLION)
                    7.2.2.5 Other modalities
           TABLE 19 AI IN OTHER MODALITIES MARKET, BY REGION, 2018–2025 (USD MILLION)
    7.3 IN VITRO DIAGNOSTICS
           TABLE 20 AI IN IN VITRO DIAGNOSTIC APPLICATIONS MARKET, BY REGION, 2018–2025 (USD MILLION)

8 ARTIFICIAL INTELLIGENCE IN MEDICAL DIAGNOSTICS MARKET, BY END USER (Page No. - 71)
    8.1 INTRODUCTION
           TABLE 21 AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
    8.2 HOSPITALS
           8.2.1 LARGE HOSPITALS HAVE BEEN THE EARLY ADOPTERS OF AI SOLUTIONS FOR DIAGNOSTIC IMAGING
           TABLE 22 AI IN MEDICAL DIAGNOSTICS MARKET FOR HOSPITALS, BY REGION, 2018–2025 (USD MILLION)
    8.3 DIAGNOSTIC IMAGING CENTERS
           8.3.1 INCREASING NUMBER OF PRIVATE IMAGING CENTERS IS CONTRIBUTING TO MARKET GROWTH
           TABLE 23 AI IN MEDICAL DIAGNOSTICS MARKET FOR DIAGNOSTIC IMAGING CENTERS, BY REGION, 2018–2025 (USD MILLION)
    8.4 DIAGNOSTIC LABORATORIES
           8.4.1 INCREASING SPECIMEN TEST VOLUMES AND WORKLOAD OF PATHOLOGISTS HAS BOOSTED THE MARKET GROWTH
           TABLE 24 AI IN MEDICAL DIAGNOSTICS MARKET FOR DIAGNOSTIC LABORATORIES, BY REGION, 2018–2025 (USD MILLION)
    8.5 OTHER END USERS
           TABLE 25 AI IN MEDICAL DIAGNOSTICS MARKET FOR OTHER END USERS, BY REGION, 2018–2025 (USD MILLION)

9 ARTIFICIAL INTELLIGENCE IN MEDICAL DIAGNOSTICS MARKET, BY REGION (Page No. - 75)
    9.1 INTRODUCTION
           TABLE 26 AI IN MEDICAL DIAGNOSTICS MARKET, BY REGION, 2018–2025 (USD MILLION)
    9.2 NORTH AMERICA
           FIGURE 22 NORTH AMERICA: AI IN MEDICAL DIAGNOSTICS MARKET SNAPSHOT
           TABLE 27 NORTH AMERICA: AI IN MEDICAL DIAGNOSTICS MARKET, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 28 NORTH AMERICA: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 29 NORTH AMERICA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 30 NORTH AMERICA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET,BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 31 NORTH AMERICA: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 32 NORTH AMERICA: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.2.1 US
                    9.2.1.1 Increasing volume of imaging procedures to drive market growth in the US
           TABLE 33 US: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 34 US: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 35 US: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 36 US: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 37 US: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.2.2 CANADA
                    9.2.2.1 Research grants and improved academics in the field of radiology to boost market growth in Canada
           TABLE 38 CANADA: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 39 CANADA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 40 CANADA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 41 CANADA: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 42 CANADA: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
    9.3 EUROPE
           TABLE 43 EUROPE: AI IN MEDICAL DIAGNOSTICS MARKET, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 44 EUROPE: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 45 EUROPE: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 46 EUROPE: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 47 EUROPE: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 48 EUROPE: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.3.1 GERMANY
                    9.3.1.1 Government initiatives to expedite AI development in Germany
           TABLE 49 GERMANY: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 50 GERMANY: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 51 GERMANY: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 52 GERMANY: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 53 GERMANY: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.3.2 UK
                    9.3.2.1 Increasing number of radiography procedures to drive market growth in the UK
           TABLE 54 UK: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 55 UK: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 56 UK: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 57 UK: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 58 UK: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.3.3 FRANCE
                    9.3.3.1 Availability of funding for companies to enhance AI research in medical imaging
           TABLE 59 FRANCE: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION,2018–2025 (USD MILLION)
           TABLE 60 FRANCE: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 61 FRANCE: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 62 FRANCE: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 63 FRANCE: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.3.4 REST OF EUROPE
           TABLE 64 ROE: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 65 ROE: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 66 ROE: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 67 ROE: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 68 ROE: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
    9.4 ASIA PACIFIC
           FIGURE 23 APAC: AI IN MEDICAL DIAGNOSTICS MARKET SNAPSHOT
           TABLE 69 APAC: AI IN MEDICAL DIAGNOSTICS MARKET, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 70 APAC: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 71 APAC: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 72 APAC: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY,2018–2025 (USD MILLION)
           TABLE 73 APAC: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 74 APAC: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.4.1 CHINA
                    9.4.1.1 China dominated the APAC market in 2019
           TABLE 75 CHINA: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 76 CHINA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 77 CHINA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY,2018–2025 (USD MILLION)
           TABLE 78 CHINA: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 79 CHINA: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.4.2 JAPAN
                    9.4.2.1 Presence of a strong infrastructure to drive the adoption of AI in Japan
           TABLE 80 JAPAN: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 81 JAPAN: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY,2018–2025 (USD MILLION)
           TABLE 82 JAPAN: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 83 JAPAN: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 84 JAPAN: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.4.3 INDIA
                    9.4.3.1 Favorable government initiatives to boost market growth in India
           TABLE 85 INDIA: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 86 INDIA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 87 INDIA: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 88 INDIA: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 89 INDIA: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
           9.4.4 REST OF ASIA PACIFIC
           TABLE 90 ROAPAC: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 91 ROAPAC: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 92 ROAPAC: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 93 ROAPAC: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 94 ROAPAC: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)
    9.5 REST OF THE WORLD
           TABLE 95 ROW: AI IN MEDICAL DIAGNOSTICS MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 96 ROW: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY SPECIALTY, 2018–2025 (USD MILLION)
           TABLE 97 ROW: IN VIVO DIAGNOSTIC APPLICATIONS MARKET, BY MODALITY, 2018–2025 (USD MILLION)
           TABLE 98 ROW: AI IN MEDICAL DIAGNOSTICS MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
           TABLE 99 ROW: AI IN MEDICAL DIAGNOSTICS MARKET, BY END USER, 2018–2025 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 109)
     10.1 OVERVIEW
           FIGURE 24 MARKET EVALUATION FRAMEWORK, 2018–2021
     10.2 KEY PLAYER STRATEGIES
     10.3 RANKING OF PLAYERS, 2019
           FIGURE 25 RANKING OF KEY COMPANIES IN THE AI IN MEDICAL DIAGNOSTICS MARKET (2019)
     10.4 COMPETITIVE LEADERSHIP MAPPING
             10.4.1 STARS
             10.4.2 EMERGING LEADERS
             10.4.3 PERVASIVE PLAYERS
             10.4.4 PARTICIPANTS
           FIGURE 26 AI IN MEDICAL DIAGNOSTICS MARKET: COMPETITIVE LEADERSHIP MAPPING (2019)
     10.5 COMPETITIVE LEADERSHIP MAPPING (START-UPS)
             10.5.1 PROGRESSIVE COMPANIES
             10.5.2 DYNAMIC COMPANIES
             10.5.3 RESPONSIVE COMPANIES
             10.5.4 STARTING BLOCKS
           FIGURE 27 AI IN MEDICAL DIAGNOSTICS MARKET (START-UPS): COMPETITIVE LEADERSHIP MAPPING (2019)
     10.6 COMPANY PRODUCT FOOTPRINT
           TABLE 100 FOOTPRINT OF COMPANIES
           TABLE 101 APPLICATION FOOTPRINT OF COMPANIES
           TABLE 102 REGIONAL FOOTPRINT OF COMPANIES
     10.7 COMPETITIVE SCENARIO
           TABLE 103 AI IN MEDICAL DIAGNOSTICS MARKET: PRODUCT LAUNCHES, 2018–2021
           TABLE 104 AI IN MEDICAL DIAGNOSTICS MARKET: DEALS, 2018–2021
           TABLE 105 AI IN MEDICAL DIAGNOSTICS MARKET: OTHER DEVELOPMENTS, 2018–2021

11 COMPANY PROFILES (Page No. - 120)
     11.1 MAJOR PLAYERS
(Business Overview, Products Offered, Recent Developments, MnM View)* 
             11.1.1 MICROSOFT CORPORATION
           TABLE 106 MICROSOFT CORPORATION: BUSINESS OVERVIEW
           FIGURE 28 MICROSOFT CORPORATION: COMPANY SNAPSHOT
           TABLE 107 MICROSOFT CORPORATION: PRODUCTS OFFERED
             11.1.2 NVIDIA
           TABLE 108 NVIDIA: BUSINESS OVERVIEW
           FIGURE 29 NVIDIA: COMPANY SNAPSHOT
           TABLE 109 NVIDIA: PRODUCTS OFFERED
             11.1.3 IBM
           TABLE 110 IBM: BUSINESS OVERVIEW
           FIGURE 30 IBM: COMPANY SNAPSHOT
           TABLE 111 IBM: PRODUCTS OFFERED
             11.1.4 INTEL
           TABLE 112 INTEL: BUSINESS OVERVIEW
           FIGURE 31 INTEL: COMPANY SNAPSHOT
           TABLE 113 INTEL: PRODUCTS OFFERED
             11.1.5 GOOGLE (SUBSIDIARY OF ALPHABET, INC.)
           TABLE 114 GOOGLE: BUSINESS OVERVIEW
           FIGURE 32 GOOGLE: COMPANY SNAPSHOT
           TABLE 115 GOOGLE: PRODUCTS OFFERED
             11.1.6 SIEMENS HEALTHINEERS
           TABLE 116 SIEMENS HEALTHINEERS: BUSINESS OVERVIEW
           FIGURE 33 SIEMENS HEALTHINEERS: COMPANY SNAPSHOT
           TABLE 117 SIEMENS HEALTHINEERS: PRODUCTS OFFERED
             11.1.7 GE HEALTHCARE
           TABLE 118 GE HEALTHCARE: BUSINESS OVERVIEW
           FIGURE 34 GE HEALTHCARE: COMPANY SNAPSHOT
           TABLE 119 GE HEALTHCARE: PRODUCTS OFFERED
     11.2 OTHER PLAYERS
             11.2.1 DIGITAL DIAGNOSTICS (FORMERLY KNOWN AS IDX)
           TABLE 120 DIGITAL DIAGNOSTICS: BUSINESS OVERVIEW
           TABLE 121 DIGITAL DIAGNOSTICS: PRODUCTS OFFERED
             11.2.2 XILINX
           TABLE 122 XILINX: BUSINESS OVERVIEW
           FIGURE 35 XILINX: COMPANY SNAPSHOT
           TABLE 123 XILINX: PRODUCTS OFFERED
             11.2.3 INFORMAI
           TABLE 124 INFORMAI: BUSINESS OVERVIEW
           TABLE 125 INFROMAI: PRODUCTS OFFERED
             11.2.4 HEARTFLOW
           TABLE 126 HEARTFLOW: BUSINESS OVERVIEW
           TABLE 127 HEARTFLOW: PRODUCTS OFFERED
             11.2.5 ENLITIC
           TABLE 128 ENLITIC: BUSINESS OVERVIEW
           TABLE 129 ENLITIC: PRODUCTS OFFERED
             11.2.6 DAY ZERO DIAGNOSTICS
           TABLE 130 DAY ZERO DIAGNOSTICS: BUSINESS OVERVIEW
                    11.2.6.2 Products offered
           TABLE 131 DAY ZERO DIAGNOSTICS: PRODUCTS OFFERED
             11.2.7 AIDENCE
           TABLE 132 AIDENCE: BUSINESS OVERVIEW
           TABLE 133 AIDENCE: PRODUCTS OFFERED
             11.2.8 BUTTERFLY NETWORK, INC.
           TABLE 134 BUTTERFLY NETWORK: BUSINESS OVERVIEW
           TABLE 135 BUTTERFLY NETWORK: PRODUCTS OFFERED
             11.2.9 PROGNOS
           TABLE 136 PROGNOS: BUSINESS OVERVIEW
           TABLE 137 PROGNOS: PRODUCTS OFFERED
             11.2.10 ZEBRA MEDICAL VISION
           TABLE 138 ZEBRA MEDICAL VISION: BUSINESS OVERVIEW
           TABLE 139 ZEBRA MEDICAL VISION: PRODUCTS OFFERED
             11.2.11 VIZ.AI
           TABLE 140 VIZ.AI: BUSINESS OVERVIEW
           TABLE 141 VIZ.AI: PRODUCTS OFFERED
             11.2.12 QUIBIM
           TABLE 142 QUIBIM: BUSINESS OVERVIEW
           TABLE 143 QUIBIM: PRODUCTS OFFERED
             11.2.13 QURE.AI
           TABLE 144 QURE.AI: BUSINESS OVERVIEW
           TABLE 145 QURE.AI: PRODUCTS OFFERED
             11.2.14 THERAPIXEL
           TABLE 146 THERAPIXEL: BUSINESS OVERVIEW
           TABLE 147 THERAPIXEL: PRODUCTS OFFERED
*Business Overview, Products Offered, Recent Developments, MnM View might not be captured in case of unlisted companies. 

12 APPENDIX (Page No. - 166)
     12.1 DISCUSSION GUIDE
     12.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     12.3 AVAILABLE CUSTOMIZATIONS
     12.4 RELATED REPORTS
     12.5 AUTHOR DETAILS

This study involved four major activities in estimating the size of the AI in medical diagnostics market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Secondary Research

The secondary research process involved the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Some non-exclusive secondary sources include the World Health Organization (WHO), Organisation for Economic Co-operation and Development (OECD), Food and Drug Administration (FDA), National Health Service (NHS), National Institutes of Health (NIH), Japan Healthcare Info, GLOBOCAN, National  Center for Biotechnology Information (NCBI), AAAI, European Association for Artificial Intelligence, Canadian Artificial Intelligence Association, Data Science Association, IAAIL, Annual Reports, SEC Filings, Investor Presentations, Journals, Publications from Government Sources and Professional Associations, Expert Interviews, and MarketsandMarkets Analysis.

Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the AI in medical diagnostics market. It was also used to obtain important information about the key players and market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

Primary Research

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the AI in medical diagnostics market. The primary sources from the demand side included industry experts, consultants, healthcare providers, hospital administration, and government bodies. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends and key market dynamics.

Artificial Intelligence (Ai) in Medical Diagnostics Market   Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the AI in medical diagnostics market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, in the provider, payer, and other industries.

Report Objectives

  • To define, describe, and forecast the AI in medical diagnostics market on the basis of component, application, end user, and region
  • To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to four main regions—North America, Europe, the Asia Pacific, and the Rest of the World (RoW)2
  • To profile the key players and comprehensively analyze their market shares and core competencies3
  • To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, collaborations, and approvals in the global AI in medical diagnostics market

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Additional country-level analysis of AI in medical diagnostics market.
  • Profiling of additional market players (up to 3)
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