Artificial Intelligence in Diagnostics Market To Reach USD 7.8 Billion By 2032
The artificial intelligence in diagnostics market size valued at USD 0.7 Billion in 2022 and is anticipated to reach USD 7.8 Billion by 2032 at a CAGR of 26.4%.
Fort Collins, Colorado, May 01, 2024 (GLOBE NEWSWIRE) —
The growing adoption of artificial intelligence in the medical industry drives the industry growth.
The integration of artificial intelligence (AI) into medical imaging is a pivotal factor driving market growth. Medical imaging is immensely important in diagnosis and treatment planning, yet it demands considerable expertise, time, and effort to interpret images such as CT scans, MRIs, and X-rays accurately. AI algorithms offer significant potential in enhancing medical image analysis by swiftly identifying various patterns and anomalies. These AI tools can interpret vast volumes of data, detect biomarkers that clinicians may overlook, and enhance the accuracy of diagnosis and treatment.
Moreover, the growing prevalence of chronic diseases serves as another catalyst for market growth. The rising number of cases is straining healthcare systems globally, necessitating diagnostic process automation. AI tools, including Natural Language Processing (NLP) and image recognition, can assist clinicians in processing large datasets to extract relevant information, thus alleviating their workload. This increased adoption of AI in diagnostics is driven by the need to streamline healthcare processes amidst the growing burden on healthcare professionals.
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Segmentation Overview:
Artificial intelligence in the diagnostics market has been segmented into component, diagnosis type, end-user, and region.
Software is the leading segment in 2023.
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Based on component, artificial intelligence in the diagnostics market has been segmented as software, hardware, and services. The software segment held the largest share of the market in 2023. AI software can aid in the quick analysis of medical images such as X-rays, MRIs, and CT scans, among others, and identify and diagnose diseases accurately.
Neurology is the largest diagnosis segment in 2023.
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Based on diagnosis type, artificial intelligence in the diagnostics market has been segmented into cardiology, oncology, pathology, radiology, chest and lung, neurology, and others. Neurology accounted for the greater market share owing to the rising prevalence of neurological disorders.
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Artificial Intelligence in Diagnostics Market Report Highlights:
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Asia Pacific is the fastest-growing market in the forecast period, attributed to the substantial strides made in AI technologies by various countries such as China, Japan, India, and South Korea in this region.
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Some prominent players in the artificial intelligence in diagnostics market report include Microsoft, NVIDIA Corporation, Merative, Intel Corporation, Siemens Healthineers, GE HealthCare, Google, Digital Diagnostics Inc., Advanced Micro Devices, Inc., InformAl, Zebra Medical Vision, Inc., Koninklijke Philips N.V., Aidence, Butterfly Network. Inc., NanoX Imaging LTD, Vizai, Inc., Quibim, Qure.ai, HeartFlow, Inc., and Aidoc.
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