Global Artificial Intelligence (AI) in Medical Diagnostics Market by Type (Software, Service), By Application (Hospital, Diagnostic Laboratory, Diagnostic Imaging Center) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global artificial intelligence (AI) in medical diagnostics market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth of this market can be attributed to the increasing demand for AI-based diagnostic solutions due to their ability to improve accuracy and efficiency in medical diagnosis. In addition, the growing prevalence of chronic diseases and rising geriatric population are also contributing significantly towards the growth of this market. On the basis of type, the global AI in medical diagnostics market is segmented into software and services. The software segment is further sub-segmented into predictive analytics, natural language processing (NLP), image recognition, and others. The services segment is further sub-segmented into consulting, integration & deployment, training & support, and others.



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Product Definition:

Artificial Intelligence (AI) is a branch of computer science that deals with the design and development of intelligent computer systems. AI in medical diagnostics can be used to help identify patterns in patients' data that may indicate the presence of a disease. This can allow doctors to diagnose diseases earlier and more accurately, which could lead to improved patient outcomes. Additionally, AI can be used to develop predictive models that can help doctors anticipate future health problems for their patients.

Software:

Software is the collection of tools and techniques for carrying out a specific task. In case of AI in medical diagnostics, software is used to analyze the data obtained from medical imaging, clinical trial studies, patient diaries and other sources to derive insights. The primary function of any software package designed for use in AI-based healthcare applications is to process large volumes of data at high speeds.

Service:

Service is a software platform that enables data sharing between healthcare providers and patients. It helps in connecting the dots between electronic health records (EHR), insurance claims, and other sources of patient data to provide actionable insights to improve care delivery. Service also provides AI-based tools for analysis of large amounts of unstructured clinical content such as text documents, images, videos, audio clips recorded by EHRs along with their diagnoses and treatments.

Application Insights:

Based on application, the market has been segmented into hospital, diagnostic laboratory, diagnostic imaging center and others. The hospital segment dominated the market in 2017 owing to increasing demand for AI-enabled tools that can assist medical professionals in diagnosing complex diseases with greater accuracy. For instance, at least 20% of an automated image diagnosis system's functionality should be dedicated to assisting a radiologist in interpretation of images for accurate results.

The introduction of smart pills is also expected to drive the growth of this segment during the forecast period due to their growing usage as therapeutics across various disease categories such as cancer and diabetes. Furthermore, these devices are being increasingly used across other applications such as drug discovery and personalized medicine which further boosts revenue generation opportunities during this study period.

Regional Analysis:

North America dominated the market in 2017. This can be attributed to the presence of major players, increased funding for AI-based medical diagnosis solutions and high adoption rate of new technologies across this region. Moreover, increasing government initiatives to support research & development activities in this field is also expected to drive growth over the forecast period. For instance, The National Institute of Health (NIH) has launched a number of projects that are aimed at accelerating progress towards artificial intelligence (AI) based healthcare solutions by providing funding opportunities for innovative applications involving machine learning and data mining techniques.

Asia Pacific is expected to grow at a lucrative CAGR during the forecast period owing to factors such as improving healthcare infrastructure coupled with growing awareness about early disease detection methods among people living in rural areas as well as urban centers alike in developing countries including India.

Growth Factors:

Increasing demand for early and accurate diagnosis of diseases
Growing number of AI startups in the medical diagnostics market
Rising adoption of AI-based diagnostic tools by hospitals and clinics
Proliferation of big data in the medical sector that can be harnessed for improving diagnostic accuracy through machine learning algorithms 5. Development of novel biomarkers and molecular diagnostics that can be used with AI-based platforms to improve disease diagnosis


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Scope Of The Report
Report Attributes
Report Details
Report Title
Artificial Intelligence (AI) in Medical Diagnostics Market Research Report
By Type
Software, Service
By Application
Hospital, Diagnostic Laboratory, Diagnostic Imaging Center
By Companies
Microsoft Corporation, NVIDIA, IBM, Intel, Siemens Healthineers, GE Healthcare, Digital Diagnostics, Xilinx, InformAI, Enlitic, Day Zero Diagnostics, Aidence, Butterfly Network, Prognos, Zebra Medical Vision, Viz.ai, Quibin, Qure.ai, Therapixel, HeartFlow
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.

Global Artificial Intelligence (AI) in Medical Diagnostics Market Report Segments:
The global Artificial Intelligence (AI) in Medical Diagnostics market is segmented on the basis of:
Types
Software, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Diagnostic Laboratory, Diagnostic Imaging Center
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Microsoft Corporation
NVIDIA
IBM
Intel
Siemens Healthineers
GE Healthcare
Digital Diagnostics
Xilinx
InformAI
Enlitic
Day Zero Diagnostics
Aidence
Butterfly Network
Prognos
Zebra Medical Vision
Viz.ai
Quibin
Qure.ai
Therapixel
HeartFlow



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Highlights of The Artificial Intelligence (AI) in Medical Diagnostics Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Software
Service
By Application:
Hospital
Diagnostic Laboratory
Diagnostic Imaging Center
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Artificial Intelligence (AI) in Medical Diagnostics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
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8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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