The global digital diagnostics market accounted for USD 1.44 billion in 2023 and is expected to reach at USD 9.99 billion by 2034 with a CAGR of 19.25% during the forecast period 2024-2034. Increasing prevalence of chronic diseases such as cardiovascular disease, cancer, & neurological disorders, surge in uptake of technology for managing these conditions, growing investment by major market players, rising adoption of strategies such as partnerships & collaborations, increasing advancements in technology and surge in introduction of digital diagnostic products and services are some of the key factors boosting the market growth.
Surge in introduction of digital diagnostic products and services is predicted to boost the market growth during the forecast period. Digital diagnostics, the application of digital technologies in healthcare, is revolutionizing disease identification, monitoring, and treatment. This approach, incorporating cutting-edge technologies such as artificial intelligence and machine learning, is significantly improving the accuracy and efficiency of medical diagnostics, fundamentally transforming the landscape of patient care. For instance, In August 2023, PathAI has introduced its AISightTM digital pathology image management system (IMS) for pathology labs. This release aligns with the ongoing shift towards digital reading in pathology and acknowledges the value of AI and machine learning in improving quality control, standardizing diagnoses, and measuring biomarkers.
By product, software was the highest revenue-grossing segment in the global digital diagnostics market in 2023 owing to the rising usage of sophisticated software applications for activities such as data interpretation, image analysis, & diagnostic decision support and surge in the introduction of inventive platforms. For instance, in February 2022, Labcorp has introduced Labcorp OnDemand, an online platform that enables users to order tests and potentially collect samples from home. This platform simplifies the process for individuals to access top diagnostic tests over the internet. Additionally, hardware is predicted to grow at the fastest CAGR during the forecast period owing to the increase in technological advancements and a heightened emphasis on creating innovative diagnostic devices.
By diagnosis type, oncology was the highest revenue-grossing segment in the global digital diagnostics market in 2023 owing to the escalating prevalence of cancer, surge in advancing technological innovation, uptick in strategic initiatives by market players, and increase in the introduction of digital diagnostics platforms specifically designed for cancer screening. For instance, in April 2022, C2i Genomics has introduced C2inform, a software-as-a-medical-device minimal residual disease (MRD) test, in Europe, enabling comprehensive cancer detection and monitoring across the entire region through whole-genome analysis. Additionally, radiology is predicted to grow at the fastest CAGR during the forecast period owing to the various advantages, including the immediate examination, editing, and magnification of results, as well as the ability to adjust contrast and brightness to optimize image quality.
By end-user, hospitals was the highest revenue-grossing segment in the global digital diagnostics market in 2023 owing to the integration of digital technologies in hospital environments aims to enhance diagnostic processes, leading to increased precision and efficiency. Hospitals and clinics are increasingly utilizing Digital Diagnostics such as digital radiology and digital pathology. Moreover, there is a growing focus on research activities investigating the integration of technologies into diagnostic systems. For instance, in March 2022, Ibex Medical Analytics and Hartford HealthCare have launched a clinical research study to evaluate Ibex's Galen Breast, an AI solution designed to assist physicians in providing accurate diagnoses and enhanced care for patients with breast cancer. Additionally, clinical laboratories is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend towards the development of Artificial Intelligence platforms to integrate with the healthcare system, alongside widespread adoption of Digital Diagnostics within clinical laboratories, facilitating seamless connection between pre-analytical, analytical, and post-analytical modules.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in chronic diseases, escalating investments by major industry players, and surge in product introductions. For instance, in September 2023, Digital Diagnostics, a prominent healthcare company specializing in artificial intelligence (AI) diagnostics, is expanding access to advanced healthcare services for individuals with diabetes at OSF HealthCare through its primary product, LumineticsCore (previously known as IDx-DR). LumineticsCore is an FDA-approved autonomous AI platform that can identify diabetic retinopathy during a patient's visit by examining retinal images for indications of the disease, eliminating the necessity for a specialist to interpret the images. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of technologies for managing chronic diseases, surge in the prevalence of cancer, and growing number of novel diagnostic products being launched. For instance, in February 2022, Carestream Health India introduced the DRX Compass, a precise, convenient, and customizable digital radiology solution aimed at enhancing efficiency for radiologists. It provides flexibility for radiology facilities to tailor the configuration according to their preferences by choosing from a diverse range of detectors, tubes, generators, tables, and collimators, thereby empowering them with full control over the utilization of this advanced digital radiology technology.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Surge in introduction of digital diagnostic products and services is predicted to boost the market growth during the forecast period. Digital diagnostics, the application of digital technologies in healthcare, is revolutionizing disease identification, monitoring, and treatment. This approach, incorporating cutting-edge technologies such as artificial intelligence and machine learning, is significantly improving the accuracy and efficiency of medical diagnostics, fundamentally transforming the landscape of patient care. For instance, In August 2023, PathAI has introduced its AISightTM digital pathology image management system (IMS) for pathology labs. This release aligns with the ongoing shift towards digital reading in pathology and acknowledges the value of AI and machine learning in improving quality control, standardizing diagnoses, and measuring biomarkers.
By product, software was the highest revenue-grossing segment in the global digital diagnostics market in 2023 owing to the rising usage of sophisticated software applications for activities such as data interpretation, image analysis, & diagnostic decision support and surge in the introduction of inventive platforms. For instance, in February 2022, Labcorp has introduced Labcorp OnDemand, an online platform that enables users to order tests and potentially collect samples from home. This platform simplifies the process for individuals to access top diagnostic tests over the internet. Additionally, hardware is predicted to grow at the fastest CAGR during the forecast period owing to the increase in technological advancements and a heightened emphasis on creating innovative diagnostic devices.
By diagnosis type, oncology was the highest revenue-grossing segment in the global digital diagnostics market in 2023 owing to the escalating prevalence of cancer, surge in advancing technological innovation, uptick in strategic initiatives by market players, and increase in the introduction of digital diagnostics platforms specifically designed for cancer screening. For instance, in April 2022, C2i Genomics has introduced C2inform, a software-as-a-medical-device minimal residual disease (MRD) test, in Europe, enabling comprehensive cancer detection and monitoring across the entire region through whole-genome analysis. Additionally, radiology is predicted to grow at the fastest CAGR during the forecast period owing to the various advantages, including the immediate examination, editing, and magnification of results, as well as the ability to adjust contrast and brightness to optimize image quality.
By end-user, hospitals was the highest revenue-grossing segment in the global digital diagnostics market in 2023 owing to the integration of digital technologies in hospital environments aims to enhance diagnostic processes, leading to increased precision and efficiency. Hospitals and clinics are increasingly utilizing Digital Diagnostics such as digital radiology and digital pathology. Moreover, there is a growing focus on research activities investigating the integration of technologies into diagnostic systems. For instance, in March 2022, Ibex Medical Analytics and Hartford HealthCare have launched a clinical research study to evaluate Ibex's Galen Breast, an AI solution designed to assist physicians in providing accurate diagnoses and enhanced care for patients with breast cancer. Additionally, clinical laboratories is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend towards the development of Artificial Intelligence platforms to integrate with the healthcare system, alongside widespread adoption of Digital Diagnostics within clinical laboratories, facilitating seamless connection between pre-analytical, analytical, and post-analytical modules.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in chronic diseases, escalating investments by major industry players, and surge in product introductions. For instance, in September 2023, Digital Diagnostics, a prominent healthcare company specializing in artificial intelligence (AI) diagnostics, is expanding access to advanced healthcare services for individuals with diabetes at OSF HealthCare through its primary product, LumineticsCore (previously known as IDx-DR). LumineticsCore is an FDA-approved autonomous AI platform that can identify diabetic retinopathy during a patient's visit by examining retinal images for indications of the disease, eliminating the necessity for a specialist to interpret the images. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of technologies for managing chronic diseases, surge in the prevalence of cancer, and growing number of novel diagnostic products being launched. For instance, in February 2022, Carestream Health India introduced the DRX Compass, a precise, convenient, and customizable digital radiology solution aimed at enhancing efficiency for radiologists. It provides flexibility for radiology facilities to tailor the configuration according to their preferences by choosing from a diverse range of detectors, tubes, generators, tables, and collimators, thereby empowering them with full control over the utilization of this advanced digital radiology technology.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Diagnosis Type, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Digital Diagnostics Market Report 2023 - 2034
Digital Diagnostics Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Services
- Software
- Hardware
Digital Diagnostics Market Analysis & Forecast by Diagnosis Type 2023 - 2034 (Revenue USD Bn)
- Radiology
- Neurology
- Oncology
- Cardiology
- Pathology
- Others
Digital Diagnostics Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals & Clinics
- Clinical Laboratories
- Others
Digital Diagnostics Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Digital Diagnostics Market: Product Estimates & Trend Analysis
8. Digital Diagnostics Market: Diagnosis Type Estimates & Trend Analysis
9. Digital Diagnostics Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Digital Diagnostics Market
12. Europe Global Digital Diagnostics Market
13. Asia Pacific Global Digital Diagnostics Market
14. Latin America Global Digital Diagnostics Market
15. MEA Global Digital Diagnostics Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Laboratory Corporation of America Holdings
- Digital Diagnostics Inc.
- GE Healthcare
- Nanox Imaging Ltd.
- Novasignal Corporation
- Vuno Inc.
- Siemens Healthcare GmbH
- Riverain Technologies
- Cerora
- ThermoFisher Scientific Inc.
- F. Hoffmann-La Roche Ltd
- Midmark Corporation
