The Global AI in Diagnostics Market is estimated to be worth USD 1,125 Million in 2021 and is expected to reach USD 3,790 Million by 2026, growing at a CAGR of 27.5%.
Market Dynamics
Growing demand for low-cost diagnostic techniques, effective and efficient report analysis and quick diagnostic data generation are expected to drive the market in the forecast period. Improving computing power and declining hardware cost is further expected to boost the market. Growing demand for reducing diagnostic costs, improving patient care, and reducing machine downtime is expected to increase the application of AI in diagnostics.
Lack of skilled AI workforce and ambiguous regulatory guidelines for medical software and high cost of implementation of AI solutions is expected to hinder the growth of the market.
Increasing partnerships and collaborations between various AI service providers and advancements in Deep Learning and AI have created lucrative opportunities for the growth of the market.
Concerns regarding data privacy and lack of interoperability between AI solutions offered by different vendors are big challenges in front of the industry players.
Market Segmentation
The Global Artificial Intelligence in Diagnostics Market is segmented based on Components, Diagnosis, and Geography.
- By Components, the market is classified into Services, Software and Hardware. Software segment to hold the largest share in AI in diagnostics market.
- By Diagnosis, the market is classified into Radiology, Oncology, Neurology, Cardiology, Chest & Lungs, Pathology and Other Diagnosis Types
- By Geography, North America holds major share of artificial intelligence in diagnostics market.
Recent Developments
- In March 2020, IBM Watson Health and EBSCO Information Services partnered to provide access to evidence-based drug and disease information that can help support clinicians and individuals as they cope with infectious diseases, including COVID-19.
- Jun-2020: GE Healthcare announced collaboration with Lunit, a South Korean startup. Together with Lunit, GE launched an artificial intelligence-powered chest X-ray analysis suite. The suite has been designed to spot and highlight eight common conditions, using algorithms built by Lunit.
- Jul-2020: AliveCor introduced KardiaCare, a digital health subscription service. The service provides members the control and convenience of managing heart health at home. This new service delivers exclusive digital tools to make it easier for users to interpret their heart data, monitor risk factors, identify symptom triggers, and measure the impact of positive lifestyle changes as part of a long-term heart care program.
Company Profiles
Some of the companies covered in this report are NVIDIA Corporation, Intel Corporation, IBM Corporation, Google, Microsoft Corporation, Amazon Web Services, General Vision, Inc., GE Healthcare, Siemens Healthineers, Medtronic plc, Johnson & Johnson Inc, and Koninklijke Philips N.V. etc.
Competitive Quadrant
The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Artificial Intelligence In Diagnostics Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel within the industry.
The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.
The report also contains the competitive analysis using the Competitive Quadrant, the analyst's proprietary competitive positioning tool.
Report Highlights
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
Companies Mentioned
- AIndra
- Amazon Web Service. Inc.
- Atomwis. Inc.
- Babylon Health
- Butterfly Network Inc.
- Caption Health
- Caresyntax Inc.
- Cloudmedx Inc.
- Context Vision
- Cota Healthcare
- CureMetrix Inc.
- Enliti. Inc.
- FDN. Inc.
- GE Healthcare
- Google LLC
- IBM Corporation
- Imagia Cybernetics Inc.
- Intel Corporation
- Johnson & Johnson
- Koninklijke Philips N.V.
- Linguamatics (UK)
- Lucina Health Inc.
- Lunit Inc.
- MDLIVE Inc.
- Medtronic PLC.
- Micron Technologies
- Microsoft Corporation
- NVIDIA Corporation
- Physi. Inc.
- Qure.ai Technologies Private Limited
- Siemens Healthineers AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | March 2021 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value ( USD | $ 1125 Million |
| Forecasted Market Value ( USD | $ 3790 Million |
| Compound Annual Growth Rate | 27.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 31 |
