Artificial Intelligence in Diagnostics Market

Artificial Intelligence in Diagnostics Market Size Survey Report – In a Glance

As per the survey report on global Artificial Intelligence in diagnostics market, the market is projected to foresee a CAGR of CAGR value 26.9% between 2024-2033, and further generate a market size of USD 12.6 billion revenue by the end of 2033. In the year 2024, the market size was valued at USD 1.6 billion revenue.

• The global Artificial Intelligence in diagnostics market is projected to grow on account of the increased necessity for managing complex medical records.
• In Japan, the Artificial Intelligence in diagnostics market growth can be attributed to the heightened frequency of various chronic conditions.
• KDMI analyst’s growth analysis foresees elevated purchasing and maintenance costs to challenge the market growth.
• North America, having the highest market share in the Artificial Intelligence in diagnostics market, is projected to dominate the global market.

Artificial Intelligence in Diagnostics Market Analysis

Artificial intelligence (AI) refers to mimicking human thought processes for executing functions like learning, evaluating, and problem-solving. Moreover, AI-powered diagnostics utilizes artificial intelligence techniques to examine patient records, predict illnesses, and assist medical practitioners in delivering accurate, timely, and up-to-date medical evaluations or information. However, with around 4.5 billion people lacking proper medical facilities and due to a looming shortage of about 10 million medical professionals by 2030, AI offers a solution to fill this void and reshape global healthcare. Consequently, the increasing necessity for managing complex medical records is driving AI adoption in diagnostics, stimulating global artificial intelligence in the diagnostics market. Siemens Healthineers, Zebra Medical Vision, Inc., Riverain Technologies, are some of the significant parties in the global market for Artificial Intelligence in diagnostics.

Analyst’s Observation on Japan Artificial Intelligence in Diagnostics Market Survey

In Japan, the market growth for Artificial Intelligence in diagnostics can be linked to the heightened frequency of various chronic diseases. Chronic conditions such as cancers, CVDs (cardiovascular diseases), respiratory diseases, diabetes, and mental health illnesses have become the foremost cause of fatalities globally. According to findings, three major diseases namely cancer, heart disease, and cerebrovascular disease (CVD) are posing a pressing health challenge in Japan. This escalating number of chronic disease cases is propelling AI adoption in diagnostics due to early disease detection, improved exactness, and enhanced healthcare workflows. Fujifilm, Toshiba and Hitachi, are some of the significant parties in the market for Artificial Intelligence in diagnostics in Japan.

Artificial Intelligence in Diagnostics Market Growth Drivers and Challenges

Growth Drivers

Rising reliance on imaging for diagnosis:

Digitalization is evolving fast across the world, increasing the use of information technology across various industries, including healthcare. Healthcare processes produce vast quantities of data at different stages originating from billing transactions, imaging scans, medical sensors, online interactions and biometric scans. As a result, the adoption of artificial intelligence has escalated sharply. Besides, the fast-growing acceptance of high-resolution radiological imaging among healthcare professionals is driving greater reliance on big data and analytics. AI-powered diagnostic tools not only help in the faster interpretation of complex medical images but also ensure better patient results. In addition, AI-powered imaging also aids in creating personalized treatment strategies, boosting healthcare services. Therefore, the rising reliance on imaging for diagnosis is promoting the growth of artificial intelligence in the diagnostics market.

Heightened focus on AI innovations:

The growing focus on AI-driven healthcare research is revolutionizing diagnostics, turning innovations into impactful solutions. With ongoing innovations, AI improves disease detection rates, enhances accuracy, and simplifies complex medical analysis. Pathology involves massive datasets filled with disease classification, biomarkers, and specimens making it a challenge for human pathologists to keep up with evolving information. AI-based technologies which can operate continuously and analyze countless specimens offer a way to manage this complexity. Incorporating AI into pathology along with large-scale genomics and biomarker data supports pathologists by enhancing diagnostic accuracy and efficiency. Studies show that nearly 40% of global employment is vulnerable to AI, climbing up to 60% in highly developed nations. Therefore, AI’s fair analysis, automation and advanced algorithms are fueling the market forward.

Restraints

Elevated purchasing and maintenance costs:

AI-driven healthcare demands hefty procurement costs, high upfront investments, and continuous spending on maintenance and upgrades. Moreover, regular system upgrades are essential to align with changing industry demands, contributing more to overall costs. Thus, the elevated purchasing and maintenance costs create financial obstacles by limiting product reach and preventing smaller healthcare providers from embracing this cutting-edge solution.

Insufficient governmental support:

Although AI is shaping the future, its adoption in the medical sector is still highly expensive. High purchasing costs and huge capital investments prevent hospitals from upgrading and adopting these advanced systems. Many hospitals and medical institutions face financial difficulties in obtaining the necessary funds for AI implementation. Therefore, insufficient governmental funding and support are impeding the AI in diagnostics market.

Artificial Intelligence in Diagnostics Market Segmentation

Our experts at KD Market Insights have segmented the global Artificial Intelligence in diagnostics market research report as:

Artificial Intelligence in Diagnostics Market Regional Synopsis

According to global market, North America has a thriving artificial intelligence in diagnostics market and is substantially fueled by quick urban development, increasing technological awareness, continuous technological progress and expanding well-established healthcare infrastructure. Another key growth driver of the regional market is the heightened government initiatives promoting healthcare research and development and growing new businesses. The United States is the major participant in the market growth, holding the largest revenue share in the region. The increasing technological innovations, growing healthcare research and development, the rising requirement for AI in medical field, the increase in partnerships, and the existence of top-tier companies that are mainly engaged in the research and development of new technologies for specific healthcare areas have driven up the need for AI in diagnostics.

The Asia-Pacific (APAC) region encompassing countries like China, India, Japan, and South Korea has established itself as the quickest artificial intelligence in diagnostics market during the forecasted period. The prime factor for the market growth in the region is increase in the number of public and private initiatives encouraging the acceptance of AI-based diagnostic solutions, availability of a proficient workforce and government-backed scheme for the domestic medical device industry. In China, a well-rounded national strategy has been formulated to drive medical AI advancement and further its bioeconomy leadership ambitions. Additionally, the growing geriatric populace coupled with the increasing incidence of acute & chronic diseases also plays a prime role in the market boom in the region.

In the European region, the rising senior population and growing investment in AI research and development is making a significant impact on the progression of the market. Furthermore, the European Union has taken actively taken initiatives to foster favourable regulatory framework for artificial intelligence in healthcare. The European Medicines Agency (EMA) has also established a focused AI working committee to analyze the integration of AI in medication development and regulation.

As per our analysts at KD Market Insights, the following five players lead the North America Artificial Intelligence in diagnostics market growth:

• Microsoft
• GE Healthcare
• Intel Incorporation
• Google
• Advanced Micro Devices Inc.

Artificial Intelligence in Diagnostics Market Competitive Landscape

Some of the key players who top the global Artificial Intelligence in diagnostics market share:

• Siemens Healthineers
• Zebra Medical Vision, Inc.
• Riverain Technologies
• Vuno, Inc.
• Aidoc
• Neural Analytics
• Imagen Technologies
• Digital Diagnostics, Inc.
• GE Healthcare
• AliveCor Inc. Microsoft
• Intel Incorporation
• Google

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Artificial Intelligence In Diagnostics Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Component
      2. By Application
      3. By Modality
      4. By Technology
      5. By End-use
      6. By Region
5. Market Segmentation by Component
   1. 1. Software
      2. Hardware
      3. Services
      4. Others
6. Market Segmentation by Application
   1. 1. Cardiology
      2. Oncology
      3. Pathology
      4. Radiology
      5. Pulmonology
      6. Neurology
      7. Obstetrics/Gynecology
      8. Others
7. Market Segmentation by Modality
   1. 1. MRI
      2. CT-scan
      3. X-rays
      4. Ultrasound
      5. Others
8. Market Segmentation by Technology
   1. 1. Machine learning
      2. Deep learning
      3. Natural language processing
      4. Computer vision
      5. Predictive analytics
      6. Others
9. Market Segmentation by End-use
   1. 1. Hospitals
      2. Diagnostics imaging centers
      3. Diagnostics laboratories
      4. Others
10. Regional Analysis
    1. North America
       1. United States
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Component, Application, Modality, Technology and End-use
       2. Canada
          1. Market Size and Forecast
          2. Key Trends and Developments
       3. Market Analysis by Component, Application, Modality, Technology and End-use
       4. Mexico
          1. Market Size and Forecast
          2. Key Trends and Developments
    2. Market Analysis by Component, Application, Modality, Technology and End-use
    3. Europe
       1. United Kingdom
          1. Market Size and Forecast
          2. Key Trends and Developments
       2. Market Analysis by Component, Application, Modality, Technology and End-use
       3. Germany
          1. Market Size and Forecast
          2. Key Trends and Developments
       4. Market Analysis by Component, Application, Modality, Technology and End-use
       5. France
          1. Market Size and Forecast
          2. Key Trends and Developments
       6. Market Analysis by Component, Application, Modality, Technology and End-use
       7. Italy
          1. Market Size and Forecast
          2. Key Trends and Developments
       8. Market Analysis by Component, Application, Modality, Technology and End-use
       9. Spain
          1. Market Size and Forecast
          2. Key Trends and Developments
       10. Market Analysis by Component, Application, Modality, Technology and End-use
       11. Rest of Europe
           1. Market Size and Forecast
           2. Key Trends and Developments
    4. Market Analysis by Component, Application, Modality, Technology and End-use
    5. Asia Pacific
       1. China
          1. Market Size and Forecast
          2. Key Trends and Developments
       2. Market Analysis by Component, Application, Modality, Technology and End-use
       3. Japan
          1. Market Size and Forecast
          2. Key Trends and Developments
       4. Market Analysis by Component, Application, Modality, Technology and End-use
       5. India
          1. Market Size and Forecast
          2. Key Trends and Developments
       6. Market Analysis by Component, Application, Modality, Technology and End-use
       7. Australia
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Component, Application, Modality, Technology and End-use
          4. South Korea
          5. Market Size and Forecast
          6. Key Trends and Developments
       8. Market Analysis by Component, Application, Modality, Technology and End-use
       9. Rest of Asia Pacific
          1. Market Size and Forecast
          2. Key Trends and Developments
    6. Market Analysis by Component, Application, Modality, Technology and End-use
    7. Latin America
       1. Brazil
          1. Market Size and Forecast
          2. Key Trends and Developments
       2. Market Analysis by Component, Application, Modality, Technology and End-use
       3. Argentina
          1. Market Size and Forecast
          2. Key Trends and Developments
       4. Market Analysis by Component, Application, Modality, Technology and End-use
       5. Colombia
          1. Market Size and Forecast
          2. Key Trends and Developments
       6. Market Analysis by Component, Application, Modality, Technology and End-use
       7. Rest of Latin America
          1. Market Size and Forecast
          2. Key Trends and Developments
    8. Market Analysis by Component, Application, Modality, Technology and End-use
    9. Middle East & Africa
       1. South Africa
          1. Market Size and Forecast
          2. Key Trends and Developments
       2. Market Analysis by Component, Application, Modality, Technology and End-use
       3. Saudi Arabia
          1. Market Size and Forecast
          2. Key Trends and Developments
       4. Market Analysis by Component, Application, Modality, Technology and End-use
       5. UAE
          1. Market Size and Forecast
          2. Key Trends and Developments
       6. Market Analysis by Component, Application, Modality, Technology and End-use
       7. Rest of Middle East & Africa
          1. Market Size and Forecast
          2. Key Trends and Developments
          3. Market Analysis by Component, Application, Modality, Technology and End-use
11. Competitive Landscape
    1. Market Share Analysis
    2. Company Profiles
       1. Siemens Healthineers
       2. Zebra Medical Vision, Inc.
       3. Riverain Technologies
       4. Vuno, Inc.
       5. Aidoc
       6. Neural Analytics
       7. Imagen Technologies
       8. Digital Diagnostics, Inc.
       9. GE Healthcare
       10. Others
12. Strategic Recommendations
13. Appendix
    1. List of Tables
    2. List of Figures
14. References