Artificial Intelligence In Healthcare Diagnosis Market Breakdown, Development and New Market Opportunities & Forecasts to 2027 | Leading Players- General Electric, Aidoc, Arterys, Icometrix, IDx Technologies, MaxQ AI, Caption Health etc.

The artificialintelligence in healthcare diagnosis market was valued at US$ 3,639.02 millionin 2019 and is projected to reach US$ 66,811.97 million by 2027; it is expectedto grow at a CAGR of 44.0% during 2020–2027.

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Artificial intelligence (AI) uses algorithms and software to perform certain tasks without human intervention and instructions. AIrepresents the integration of technologies such as machine learning, natural language processing, reasoning, and perception. It is used in healthcare for approximation of human cognition as well as the analysis of complex medical and diagnostic imaging data. The artificial intelligence in healthcare diagnosismarket is driven by the ability of AI to provide improved outcomes; moreover, the growing need to increase coordination between healthcare workforce and patients also supports the market growth. The rise in the importance of Big Data in healthcare, increase in the adoption of precision medicine, and surge in venture capital investments also contribute to the market growth.

Market Insights
Increasing Investmentin AI Healthcare Startups Drives Market Growth

Artificial Intelligence in healthcare is one of the most significant technological advances in medicine thus far. Startups developing AI-driven imaging & diagnostic solutions are the major factors responsible for the growth of the market in the study period. China, the US, and the UK are emerging as a popular hub for healthcare innovations. China-based healthcare AI startups have benefited from the government’s AI-focused development strategy, inspiring investment, and private-public partnerships. Additionally, the British government has announced a National Artificial Intelligence Lab that will collaborate with Britain’s universities and technology companies to research on cancer, dementia, and heart disease. UK-based startups have benefited from the government’s robust library of patient data, as British citizen’s share their anonymous healthcare data with the British National Health Service.

Company Profiles
• General Electric Company
• Aidoc
• Arterys Inc.
• Icometrix
• IDx Technologies Inc
• MaxQ AI Ltd.
• Caption Health, Inc.
• Zebra Medical VisionInc.
• Siemens Healthineers AG
• Koninklijke Philips N.V

Tokyo-based AI Medical Service, the Japanese startup developing the AI-powered technology to detect cancerous lesions from endoscopic footage, announced in October 2019 that it had secured about USD $43 million US (about 4.6 billion yen) in a Series B round. Healthcare analytics firm Tricog has raised USD $10.5 million in a Series B round of funding. Using Artificial Intelligence and Machine Learning, the startup helps in the wellness, screening, and diagnosis of acute as well as chronic heart diseases. The investment comes in from UTEC - The University of Tokyo Edge Capital, Japan; Aflac Ventures, LLC, Japan; TeamFund, USA; and Dream Incubator, Japan, and also saw participation from Inventus Capital and Blume Ventures. Using Artificial Intelligence and Machine Learning, the five-year-old startup has helped 3 million patients globally. It also uses its virtual cardiology services to help in remote clinics.

Products Insights
In terms of diagnostic tools, the medical imaging tool segment held the largest share of the artificial intelligence in healthcare diagnosis marketin 2019; it is expected to continue to be a leader shareholder during the forecast period. The growth is mainly ascribed to the increasing FDA approvals of AI-based medical imaging tools.However, the automated detection system segment is expected to register the highest CAGR during the forecast period due to increasing adoptionof these tools in infectious disease diagnostics.

Strategic Insights
Collaborations and technology partnerships by the players inthe artificial intelligence in healthcare diagnosis market to bridge thedemand-supply gap are anticipated to play a significant role in the growth ofthe market during the forecast period.

By Diagnostic Tool
· Medical Imaging Tool
· Automated Detection System
· Others

By Application
· Eye Care
· Oncology
· Radiology
· Cardiovascular
· Others

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