Artificial Intelligence In The Diagnostic Market Strategies 2024-2033 | Size, Insights, Demand, Outlook

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Artificial Intelligence In The Diagnostic Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The artificial intelligence in the diagnostic market size has grown exponentially in recent years. It will grow from $3.06 billion in 2023 to $4.29 billion in 2024 at a compound annual growth rate (CAGR) of 40.3%. The growth in the historic period can be attributed to rising disease burden, data availability, cost reduction, regulatory support, increasing awareness.

The artificial intelligence in the diagnostic market size is expected to see exponential growth in the next few years. It will grow to $16.24 billion in 2028 at a compound annual growth rate (CAGR) of 39.5%. The growth in the forecast period can be attributed to personalized medicine trends, rapid increase in healthcare data, global health challenges, increased investments, enhanced integration with healthcare systems. Major trends in the forecast period include collaboration and investment, advancements in technology, data privacy and security concerns, rise of explainable ai (xai), expanding role of computer vision.

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Key Market Players:

Major companies operating in the artificial intelligence in the diagnostic market report are Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare Technologies Inc., Paige.AI Inc., HeartFlow Inc., Aidoc Medical Ltd., AliveCor Inc., Butterfly Network Inc., Imagen Technologies, Digital Diagnostics Inc., Brainomix Ltd., NovaSignal Corp., Enlitic Inc., Nano-X Imaging LTD., EchoNous Inc., Zebra Medical Vision Ltd., Aidence B.V., Neural Analytics Inc., IDx Technologies Inc., icometrix N.V., Vuno Inc.

Market Drivers:

The rising prevalence of chronic diseases is expected to propel the growth of AI in the diagnostics market going forward. Chronic diseases are long-term health conditions that persist over an extended period, often for a person's lifetime. The incorporation of AI-based diagnostic processes in chronic diseases enables early detection, prediction, and enhanced decision support systems, remote monitoring of patients, cost reduction, and tailoring treatments to individual patients by analyzing their genetic makeup and disease progression. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million fatalities annually, constituting 74% of non-communicable disease (NCD) or chronic disease-related deaths worldwide. Further, around 17.9 million deaths are attributed to cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rising prevalence of chronic diseases is driving the growth of AI in the diagnostics market.

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The artificial intelligence in the diagnostic market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, NLP (Natural Language Processing), Context-Aware Computing, Computer Vision
3) By Diagnosis Type: Radiology, Pathology, Cardiology, Oncology, Neurology, Chest And Lung, Other Diagnosis Types

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