(AI) Artificial intelligence Diagnostics Market Estimated to Surpass USD 5,225.4 Million By 2030, at 26.1% CAGR

According to the research report, the global Artificial Intelligence (AI) in diagnostics market was valued at USD 562.3 million in 2021 and is expected to reach USD 5,225.4 Million By 2030, growing at a CAGR of 26.1% during the forecast period.

The market is emerging as a boon in the healthcare sector owing to the growing adoption of AI technology to assist medical professionals due to the increased rate of chronic diseases and overcome the challenge of physicians' shortfall in recent years. AI in disease diagnosis has the immense potential to detect diseases prior to their occurrence helps diagnosticians prepare for preventive measures and avoid emergencies.

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Artificial intelligence (AI) in medical testing offers a greater value advantage of detecting multiple diseases with single image recognition than traditional technologies of specific disease detection and speed up the tests and reporting processes.

Based on component type, the software segment held the largest share in the global industry in 2020. The use of Artificial intelligence (AI) based software solutions to detect multiple diseases with the same image enhances the diagnostician's decision-making capability while identifying the symptoms of numerous ailments with single image processing.

With the COVID-19 outbreak, governments worldwide have also asked for quick adoption of the latest technologies and to detect signs of decreases to meet emergency medical conditions. Non-profit organizations and private players have also shown interest by investing in diagnostics technologies.

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Further, strategic approaches by market players, including acquisitions, collaborations, and partnerships to strengthen diagnosis capabilities to provide faster and improved medical treatment, have also propelled artificial intelligence (AI) in diagnostics market growth in recent years.

For example, in June 2020, GE Healthcare collaborated with a South Korean start-up unit to launch an Artificial intelligence (AI) based chest X-ray analysis suite. AliveCor has also entered into a partnership agreement with Medable, Inc., to provide remote clinical trials such as in-home ECGs with AliveCor's KardiaMobile6L.

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Among the recent strategic initiative industry participants such as GE Healthcare, Lunit, Siemens Healthcare, Geisinger, Aidoc, Telemedicine Clinic (TMC), AliveCor, Medable, Inc., Zebra Medical Vision, and Nuance are some of the key players who emphasized creating an advanced vision of utilizing global industry.

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Polaris Market Research has segmented the artificial intelligence (AI) in the diagnostics market report on the basis of component, diagnosis, and region:

Artificial intelligence (AI) in Diagnostics, Component Outlook (Revenue -USD Million, 2018 - 2030)

Software
Hardware
Services

Artificial intelligence (AI) in Diagnostics, Diagnosis Outlook (Revenue - USD Million, 2018 - 2030)

Cardiology
Oncology
Pathology
Radiology
Chest and Lung
Neurology
Others

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