Key Factor Supporting AI In Medical Diagnostics Market Development in 2025: Rising Investments In Healthcare Sector To Drive Market Growth

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How Large Will the AI In Medical Diagnostics Market Size By 2025?
The market size of AI in medical diagnostics has seen significant expansion in the recent past. It is projected to swell from $1.92 billion in 2024 to $2.66 billion in 2025, with a compound annual growth rate (CAGR) of 38.6%. The notable growth during the historical period is due to factors such as heightened health awareness, a surge in chronic disease cases, growth in the elderly population, an upswing in demand for natural products, and an enlargement in the functional foods and beverages sector.

How Big Is the AI In Medical Diagnostics Market Size Expected to Grow by 2029?
Anticipated to witness a surge over the coming years, the market size of AI in medical diagnostics is projected to expand to "$10.9 billion in 2029, fueled by a compound annual growth rate (CAGR) of 42.2%. This market expansion during the forecasted period can be credited to an escalating emphasis on immune health, burgeoning demand for plant-based products, proliferation of the beauty and cosmetics industry, growth in nutraceuticals and functional supplements market, as well as the rise of global sustainable and ethical practices. Key trends expected to influence the forecast period include enhanced consumer awareness and quest for functional foods, an enlarging scope in nutraceuticals, and dietary supplements, a concentrated focus on natural and plant-based resources, innovative extraction and processing methodologies, and the adoption of health and wellness as a lifestyle.

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Which Key Market Drivers Powering AI In Medical Diagnostics Market Expansion and Growth?
The growth of the AI in medical diagnostics market is likely to be fueled by rising investments in healthcare. Health expenditure, which is the part of overall revenue devoted to healthcare services by both private and public sectors, not only offers employment opportunities for healthcare professionals but also enhances earnings for healthcare workers and broadens municipal tax revenues. The increased demand for related goods and services further aids the application of AI technology in healthcare. For instance, the Canadian Institute for Health Information, a non-profit organization based in Canada, projected in November 2023 that the total health expenditure would hit $344 billion in 2023, indicating a moderate growth of 2.8% from the previous year. Thus, the escalating investment in healthcare is fueling the expansion of the AI in medical diagnostics market.

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Which Fast-Growing Trends Are Poised to Disrupt the AI In Medical Diagnostics Market?
The introduction of fresh product concepts is a leading trend making waves in the AI medical diagnostics industry. To maintain their dominance in the market, major companies in this industry are bringing innovative products to life. For example, Qritive, a software company headquartered in Singapore, unveiled its AI-enabled 'QAI Prostate' instrument for diagnosing prostate cancer in March 2023. This product can accurately differentiate benign from malignant tumors, identify the exact locations of prostate cancer, and pinpoint prostatic adenocarcinoma. Additionally, it enhances laboratory efficiency by allowing pathologists to select, prioritize, and work on cases that are useful to them.

What Are the Emerging Segments in the AI In Medical Diagnostics Market?
The AI in medical diagnostics market covered in this report is segmented -

1) By Component: Software, Services
2) By Technology: Natural Language Processing, Computer Vision, Machine Learning, Context-Aware Computing, Other Technologies
3) By Specialty: Brain And Neurological, Oncology, Cardiac And Vascular, Chest And Lung, Obstetrics And Gynecology, Other Specialties
4) By Application: Computer-Aided Detection, Computer-Aided Diagnosis, Quantitative Analysis Tools, Clinical Decision
5) By End User: Hospitals, Diagnostics Imaging Centers, Diagnostics Laboratories, Other End Users

Subsegments:
1) By Software: Diagnostic Imaging Software, Disease Identification Software, Predictive Analytics Software, Data Management Software, Clinical Decision Support Software
2) By Services: Consulting Services, Implementation Services, Training Services, Maintenance And Support Services, Managed Services

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Who Are the Global Leaders in the AI In Medical Diagnostics Market?
Major companies operating in the AI in medical diagnostics market include International Business Machines Corporation, Siemens Healthineers AG, GE HealthCare Technologies Inc., Digital Diagnostics Inc., Heartflow Inc., Aidoc Medical Ltd., Koninklijke Philips N.V., Nanox Imaging Ltd., Microsoft Corporation, Nvidia Corporation, Intel Corporation, Xilinx Inc., Enlitic Inc., Aidence B.V., Butterfly Network Inc., Day Zero Diagnostics Inc., MicroHealth LLC, Arterys Inc., PathAI Inc., Zebra Medical Vision Inc., Tempus Labs Inc., Caption Health Inc., Proscia Inc., AliveCor Corporation, ResApp Health Limited, Volpara Health Technologies Limited, Koios Medical Inc., Ultromics Limited, MaxQ AI Ltd., Paige.AI Inc.

Which are the Top Profitable Regional Markets for the AI In Medical Diagnostics Industry?
North America was the largest region in the AI in medical diagnostics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global AI in medical diagnostics market report during the forecast period. The regions covered in the AI in medical diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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