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Artificial Intelligence in Medical Diagnostics Market worth $3.04 billion by 2030, growing at a CAGR of 17.23% - Exclusive Report by 360iResearch
Artificial Intelligence in Medical Diagnostics Market | 360iResearch
The Global Artificial Intelligence in Medical Diagnostics Market to grow from USD 1.00 billion in 2023 to USD 3.04 billion by 2030, at a CAGR of 17.23%.
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Artificial intelligence (AI) in the medical diagnostics market encompasses the development, implementation, and application of AI-based technologies and systems to analyze clinical data, identify patterns, and derive insights for improved diagnostic accuracy and patient care. The increasing prevalence of chronic disease conditions has surged the need for enhanced imaging analysis in diagnostic applications. Rising government initiatives to promote the integration of AI/ML technologies in precision medicine and wearable devices have enhanced product development, significantly contributing to market growth. However, increasing incidences of product failures and the difficulty of AI integration with existing diagnostic systems may limit the market adoption of AI-enabled diagnostic solutions. Data privacy and security breach issues have emerged as concerning factors for market growth. Moreover, the introduction of diagnostic robotics and advanced AI technologies for medical diagnosis has created attractive opportunities for market growth. The advancing start-up ecosystem and expansion of smart hospitals are expected to leverage AI technology in medical diagnostics to bolster the growth of the market.
Significant investments in AI for healthcare in the United States have led to groundbreaking research and advancements in medical diagnostics. Major countries such as the United States and Canada have the strong presence of key players equipped with technological capabilities to revolutionize medical diagnostics services through artificial intelligence integration. Europe has witnessed the emergence of several startups and established companies producing AI-driven solutions for research & development in medical diagnostics. Ongoing collaboration activities between governments, researchers, and industry players across the EMEA region are playing a crucial role to drive innovation market growth in the medical diagnostics sector. Significant countries in the APAC region, including China, Japan, and India, support regional players to leverage their expertise in robotics and advanced technologies to develop AI-driven diagnostic tools. Artificial Intelligence (AI) in medical diagnostics in the APAC has witnessed significant growth owing to its large population base, evolving healthcare infrastructure, and increasing adoption of advanced technologies.
Market Segmentation & Coverage:
This research report categorizes the Artificial Intelligence in Medical Diagnostics Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Hardware, Services, and Software. The Services is further studied across Tele Monitoring and Tele-Consultation. The Software commanded largest market share of 44.10% in 2023, followed by Hardware.
Based on Technology, market is studied across Computer Vision, Machine Learning Platforms, Natural Language Processing, and Robotic Processes Automation. The Computer Vision commanded largest market share of 26.55% in 2023, followed by Machine Learning Platforms.
Based on Application, market is studied across Cardiology, Neurology, Oncology, Ophthalmology, Pathology, and Pulmonology. The Cardiology commanded largest market share of 24.41% in 2023, followed by Oncology.
Based on End-User, market is studied across Academic Institutions & Research Center, Diagnostic Center, and Hospitals. The Hospitals commanded largest market share of 40.10% in 2023, followed by Academic Institutions & Research Center.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 39.14% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Artificial Intelligence in Medical Diagnostics Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Artificial Intelligence in Medical Diagnostics Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Artificial Intelligence in Medical Diagnostics Market, highlighting leading vendors and their innovative profiles. These include 3M Company, AiCure, LLC, Aidoc Medical Ltd., Butterfly Network, Inc., Cera Care Limited, Cisco Systems, Inc., Corti - AI, Digital Diagnostics Inc., Edifecs, Inc., Enlitic, Inc., Epredia by PHC Holdings Corporation, Freenome Holdings, Inc., GE HealthCare Technologies, Inc., General Vision, Inc., Google LLC by Alphabet Inc., Hewlett Packard Enterprise Development LP, Imagen Technologies, Inc., Intel Corporation, International Business Machines Corporation, Johnson & Johnson Services, Inc., Kantify, Koninklijke Philips N.V., Medtronic PLC, Microsoft Corporation, Nano-X Imaging Ltd., NEC Corporation, NVIDIA Corporation, Persistent Systems Limited, Qure.ai Technologies Private limited, Siemens Healthineers AG, SigTuple Technologies Private Limited, Stryker Corporation, Tempus Labs, Inc., and VUNO Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Artificial Intelligence in Medical Diagnostics Market, by Component
7. Artificial Intelligence in Medical Diagnostics Market, by Technology
8. Artificial Intelligence in Medical Diagnostics Market, by Application
9. Artificial Intelligence in Medical Diagnostics Market, by End-User
10. Americas Artificial Intelligence in Medical Diagnostics Market
11. Asia-Pacific Artificial Intelligence in Medical Diagnostics Market
12. Europe, Middle East & Africa Artificial Intelligence in Medical Diagnostics Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Artificial Intelligence in Medical Diagnostics Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Artificial Intelligence in Medical Diagnostics Market?
3. What is the competitive strategic window for opportunities in the Artificial Intelligence in Medical Diagnostics Market?
4. What are the technology trends and regulatory frameworks in the Artificial Intelligence in Medical Diagnostics Market?
5. What is the market share of the leading vendors in the Artificial Intelligence in Medical Diagnostics Market?
6. What modes and strategic moves are considered suitable for entering the Artificial Intelligence in Medical Diagnostics Market?
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