Artificial Intelligence (AI) in Medical Diagnostics Market worth $5.5 billion by 2027
The report "Artificial Intelligence (AI) in Medical Diagnostics Market by Component (Software, Service), Application (In Vivo, Radiology, Neurology, CT, MRI, X - ray, IVD), End User (Hospital, Diagnostic Imaging Center, Diagnostic Laboratory) - Global Forecast to 2027", is projected to reach USD 5.5 billion by 2027 from USD 1.0 billion in 2022, at a CAGR of 39.9% during the forecast period.
Browse 128 market data Tables and 37 Figures spread through 178 Pages and in-depth TOC on "Artificial Intelligence (AI) in Medical Diagnostics Market by Component (Software, Service), Application (In Vivo, Radiology, Neurology, CT, MRI, X - ray, IVD), End User (Hospital, Diagnostic Imaging Center, Diagnostic Laboratory) - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-medical-diagnostics-market-22519734.html
The application of AI in medical diagnostics is growing at a fast pace owing to factors such as growing government initiatives to drive the adoption of AI-based technologies, rise in adoption of AI solutions by radiologists to reduce work load, the influx of big data, availability of funding for AI-based startups, and the growing number of cross-industry partnerships & collaborations.
However, the lack of a skilled AI workforce, ambiguity in regulations, and the reluctance among medical practitioners to adopt these solutions are factors expected to restrain the market growth.
“Software segment is expected to grow at the highest rate during the forecast period.”
The AI in medical diagnostics market is segmented based on components: software and services. The services segment dominated the market in 2021, while the software segment is estimated to grow at a higher CAGR during the forecast period. Software solutions help AI in healthcare providers gain a competitive edge despite the challenges of being short-staffed and facing increasing imaging scan volumes.
“The Nurse call system segment is estimated to account for the largest share of the global market in 2022”
The application market in AI in the medical diagnostics market is segmented into in vivo and in vitro diagnostics. The in vivo diagnostics segment commanded the largest share of 96.8% of this market in 2021. The large share of this segment can be attributed to the growing adoption of AI solutions by practitioners, as these solutions help reduce human errors and improve treatment efficacy.
“The Hospital segment is estimated to account for the largest share of the AI in medical diagnostics market.”
Based on end users, the AI in medical diagnostics market is segmented into hospitals, diagnostic imaging centers, diagnostic laboratories, and other end users. The hospitals segment commanded the largest share of 64.1% of this market in 2021. The large share of hospital segment can be attributed to the rising number of diagnostic imaging procedures suggested as treatment options in hospitals, the inclination of hospitals toward the digitization of radiology patient workflow and automation of treatment procedures, rise in use of minimally invasive procedures in hospitals to focus on quality of patient care, and the rising adoption of advanced imaging modalities to improve workflow efficiency.
“North America to dominate the AI in medical diagnostics market in 2022”
The AI in medical diagnostics market has been segmented into four main regional segments: North America, Europe, the Asia Pacific, and the Rest of the World. In 2021, North America accounted for the largest market share of this market.
However, the Asia Pacific market is projected to register the highest CAGR during the forecast period. The high growth rate of the Asia Pacific market can primarily be attributed to the growth strategies companies adopt in emerging markets, improved medical diagnostics infrastructure, rising geriatric population, increasing prevalence of cancer, and the implementation of favorable government initiatives
Prominent players in this market are Microsoft (US), NVIDIA (US), IBM (US), Intel Corporation (US), Google, Inc.(Subsidiary of Alphabet, Inc) (US), Siemens Healthineers (Germany), GE Healthcare (US), Digital Diagnostics, Inc (US), Xilinx (US), InformAI LLC (US), HeartFlow, Inc (US), Enlitic, Inc (US), Day Zero Diagnostics, Inc(US), Aidence (Netherlands), Butterfly Network, Inc. (US), Prognos Health (US), Nanox AI (Israel), Viz.ai, Inc (US), Quibin (Spain), Qure.ai (India), Therapixel (France), Aidoc (Israel), Koninklijke Philips N.V. (Netherlands), Lunit. Inc (South Korea), EchoNous Inc. (US)
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the AI in Medical Diagnostics Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
