Artificial Intelligence (Ai) in Medical Diagnostics Market

IBM (US), NVIDIA (US) and Microsoft (US) are the Prominent Players in the Artificial Intelligence (Ai) in Medical Diagnostics Market

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.

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).

(US), NVIDIA (US), IBM (US), Intel (US), Siemens Healthineers (Germany), GE Healthcare (US), Digital

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Top Ai In Medical Diagnostics Market Playe

IBM (US)

IBM is ranked first in the AI in medical diagnostics market. IBM Watson is widely used by end users for cognitive computing and data-driven applications. It has developed core AI products that are used in developing core AI services for enterprises and large businesses. IBM Watson Health applies data-driven analytics, advisory services, and advanced technologies to deliver actionable insights in healthcare. Over the last few years, the company has invested ~USD 6 billion in 15 strategic acquisitions in cognitive, cloud, and security businesses.

NVIDIA (US)

NVIDIA is among the key players in the AI in medical diagnostics market, primarily due to its wide range of GPUs to train and run ML and AL algorithms. NVIDIA is one of the global leaders in the visual computing business. It has a well-established geographic footprint and mainly deals with major OEMs and ODMs spread across the world. NVIDIA has made substantial investments in its R&D division. This has resulted in its strong organic growth and robust market position in terms of hardware product development in the AI market. It continues to lead in the development of new products for the AI/DL market. NVIDIA uses its existing business channels, as part of its business strategy, to reach customers easily. Currently, NVIDIA has more than 40 offices worldwide; it generates major revenue from countries/regions such as Taiwan, China, the US, and Europe. NVIDIA’s global presence, along with the adoption of inorganic growth strategies, has helped it gain a strong position in this market.

Microsoft (US)

Microsoft’s continuous increase in revenue and unvarying R&D investments have strengthened its market position recently. Presently, Microsoft aims to suffice its AI needs through partnerships and extend its market reach by partnering with healthcare providers. Furthermore, Microsoft continuously invests in a series of services and computational biology projects, including research support tools for next-generation precision healthcare, genomics, immunomics, CRISPR, and cellular and molecular biologics. The 2020 AI for Health program launched by the company showcases its key interests to leverage AI for research and care delivery.

Related Reports:

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

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Report Code
HIT 7875
RI Published ON
4/15/2021
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