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The artificial intelligence in diagnostics market size is forecast to increase by USD 3.06 billion, at a CAGR of 37.9% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The artificial intelligence (AI) in diagnostics market continues to evolve, with innovative applications emerging across various sectors. Image recognition algorithms are revolutionizing medical imaging analysis, enhancing diagnostic accuracy and enabling early disease detection. Regulatory compliance AI ensures adherence to regulatory standards, streamlining regulatory processes and reducing compliance costs. Explainable AI diagnostics is gaining traction, providing transparency and interpretability to AI-driven diagnoses, enhancing trust and acceptance among healthcare professionals. AI-driven pathology is transforming laboratory diagnostics, offering faster and more accurate results. Drug discovery AI is revolutionizing pharmaceutical research, accelerating the development of new treatments and drugs. Cardiology AI applications are improving heart disease diagnosis and management, while neurology AI applications are enabling earlier and more accurate detection of neurological conditions.
Radiology workflow optimization is enhancing efficiency and productivity, reducing wait times and improving patient care. Remote patient monitoring, genomic data integration, natural language processing, and deep learning imaging are also driving growth in the market. Medical image segmentation, multimodal data fusion, diagnostic accuracy metrics, disease progression prediction, oncology diagnostic support, wearable sensor integration, healthcare data security, and predictive diagnostic models are some of the key areas of focus in the market. The ongoing unfolding of market activities reveals a dynamic and evolving landscape, with AI-powered diagnostic tools and risk stratification models becoming increasingly important.
The artificial intelligence in diagnostics industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The hospitals and clinics segment is estimated to witness significant growth during the forecast period.
Artificial intelligence (AI) is revolutionizing healthcare, offering significant efficiencies in various applications. In hospitals and clinics, AI is utilized beyond administrative tasks, such as claims processing and clinical documentation. Machine learning algorithms, for instance, facilitate data pairing across databases to ensure the accuracy of the millions of claims submitted daily. This saves time, money, and resources for insurers and providers. AI's role extends to medical diagnosis, with applications in cardiology, neurology, and radiology. In cardiology, AI-driven pathology and oncology diagnostic support aid in the detection and prediction of diseases. Neurology benefits from AI in diagnosing neurological disorders through medical image segmentation and multimodal data fusion.
Radiology workflow optimization is another area where AI excels, improving diagnostic accuracy metrics and disease progression prediction. Wearable sensors and remote patient monitoring are integrated with AI for personalized medicine and risk stratification models. Genomic data integration and diagnostic biomarker discovery are facilitated by AI, enabling predictive diagnostic models and clinical trial optimization. Computer vision healthcare and object detection algorithms contribute to medical imaging analysis, enhancing the overall diagnostic process. Healthcare data security is a critical concern, and AI plays a role in maintaining patient data privacy through encryption and access control. Natural language processing (NLP) is employed to understand and classify clinical documentation, improving diagnostic accuracy and streamlining workflows.
Deep learning imaging and explainable AI diagnostics provide insights into complex medical data, ensuring regulatory compliance and enhancing patient care. In summary, AI's influence in healthcare is profound, impacting various aspects from claims processing and clinical documentation to medical diagnosis and drug discovery. Its applications include cardiology, neurology, radiology, remote patient monitoring, and genomic data integration, among others. AI's role in maintaining healthcare data security, medical imaging analysis, and regulatory compliance further underscores its importance in the healthcare sector.
The Hospitals and clinics segment was valued at USD 234.20 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In North America, the artificial intelligence (AI) in diagnostics market experienced significant growth in 2023, with the US leading the regional contribution. Factors driving this expansion include increased insurance coverage, rising research and development expenditure, a growing geriatric population with chronic diseases, and high healthcare spending. According to the Centers for Disease Control and Prevention (CDC), approximately 60% of US adults suffer from chronic diseases, making them the leading cause of death and disability. Furthermore, the availability of numerous AI diagnostics companies in the US, including those specializing in image recognition algorithms, regulatory compliance AI, explainable diagnostics, AI-driven pathology, drug discovery AI, cardiology AI applications, neurology AI applications, radiology workflow optimization, remote patient monitoring, genomic data integration, natural language processing, deep learning imaging, personalized medicine AI, machine learning diagnostics, medical image segmentation, multimodal data fusion, diagnostic accuracy metrics, disease progression prediction, oncology diagnostic support, wearable sensor integration, healthcare data security, medical imaging analysis, computer vision healthcare, object detection algorithms, patient data privacy, diagnostic biomarker discovery, predictive diagnostic models, clinical trial optimization, and AI-powered diagnostic tools, have significantly influenced the market's dynamics.
Additionally, risk stratification models and efforts towards integrating these advanced technologies into clinical practice have further propelled the market's growth.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The artificial intelligence in diagnostics market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the artificial intelligence in diagnostics market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, artificial intelligence in diagnostics market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Aidence B.V. - Artificial intelligence diagnostics from this company serves overburdened medical professionals with accurate support, reducing workload pressure and enhancing practitioner efficiency.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Artificial Intelligence In Diagnostics Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
136 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 37.9% |
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Market growth 2024-2028 |
USD 3062.4 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
27.6 |
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Key countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this artificial intelligence in diagnostics market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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