This report describes and explains the AI in medical diagnostics market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global AI in medical diagnostics market reached a value of nearly $1.92 billion in 2024, having grown at a compound annual growth rate (CAGR) of 33.58% since 2019. The market is expected to grow from $1.92 billion in 2024 to $10.89 billion in 2029 at a rate of 41.49%. The market is then expected to grow at a CAGR of 33.72% from 2029 and reach $46.59 billion in 2034.
Growth in the historic period resulted from the increase in demand for personalized medicine, rising adoption of cloud-based AI platforms, rising prevalence of chronic diseases and growing use of telemedicine services. Factors that negatively affected growth in the historic period was ethical concerns and data protection challenges.
Going forward, the increasing aging population worldwide, rising healthcare expenditure globally, favorable government initiatives and shortage of skilled healthcare professionals will drive the growth. Factor that could hinder the growth of the AI in medical diagnostics market in the future include high procurement cost of AI systems.
The global AI in medical diagnostics market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 60.90% of the total market in 2023. Siemens Healthineers AG was the largest competitor with a 11.10% share of the market, followed by Merative L.P. with 10.82%, Tempus Labs Inc. with 10.65%, Enlitic Inc. with 8.95%, GE Healthcare Technologies Inc. with 3.71%, Microsoft Corporation with 3.55%, Koninklijke Philips N.V. with 3.43%, NVIDIA Corporation with 3.39%, PathAI Inc. with 2.67% and Aidoc Medical Ltd. with 2.63%.
North America was the largest region in the AI in medical diagnostics market, accounting for 41.12% or $790.31 million of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the AI in medical diagnostics market will be Asia Pacific and Middle East where growth will be at CAGRs of 47.77% and 46.47% respectively. These will be followed by Africa and Eastern Europe where the markets are expected to grow at CAGRs of 45.36% and 42.21% respectively.
The AI in medical diagnostics market is segmented by component into software, hardware and services. The software market was the largest segment of the AI in medical diagnostics market segmented by component, accounting for 59.65% or $1.14 billion of the total in 2024. Going forward, the software segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by component, at a CAGR of 43.11% during 2024-2029.
The AI in medical diagnostics market is segmented by application into computer-aided detection, computer-aided diagnosis, quantitative analysis tools and clinical decision. The computer-aided detection market was the largest segment of the AI in medical diagnostics market segmented by application, accounting for 36.26% or $696.95 million of the total in 2024. Going forward, the computer-aided diagnosis segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by application, at a CAGR of 45.09% during 2024-2029.
The AI in medical diagnostics market is segmented by end user into hospitals, diagnostics imaging centers, diagnostics laboratories and other end users. The hospitals market was the largest segment of the AI in medical diagnostics market segmented by end user, accounting for 48.83% or $938.56 million of the total in 2024. Going forward, the hospitals segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by end user, at a CAGR of 43.24% during 2024-2029.
The AI in medical diagnostics market is segmented by technology into natural language processing, computer vision, machine learning and context-aware computing. The machine learning market was the largest segment of the AI in medical diagnostics market segmented by technology, accounting for 47.96% or $921.86 million of the total in 2024. Going forward, the computer vision segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by technology, at a CAGR of 44.11% during 2024-2029.
The AI in medical diagnostics market is segmented by specialty into cardiology, oncology, pathology, radiology, chest and lung, neurology and other specialties. The neurology market was the largest segment of the AI in medical diagnostics market segmented by specialty, accounting for 26.22% or $503.95 million of the total in 2024. Going forward, the radiology segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by specialty, at a CAGR of 45.41% during 2024-2029.
The top opportunities in the AI in medical diagnostics market segmented by component will arise in the software segment, which will gain $5.73 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by application will arise in the computer-aided detection segment, which will gain $3.26 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by end user will arise in the hospitals segment, which will gain $4.72 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by technology will arise in the machine learning segment, which will gain $4.39 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by specialty will arise in the neurology segment, which will gain $2.55 billion of global annual sales by 2029. The AI in medical diagnostics market size will gain the most in the USA at $2.51 billion.
Market-trend-based strategies for the AI in medical diagnostics market include focus on optimizing operations and elevate patient care by improving diagnostic precision and automating routine tasks, AI tools enhance real-time decision-making and treatment effectiveness, focus on utilizing advanced technologies to improve radiology efficiency, focus on streamlining healthcare workflows to reduce clinician burnout and improve productivity, focus on revolutionizing vital sign monitoring with technologies such as photoplethysmography (PPG) and cutting-edge sensors, focus on transforming personalized cancer therapies by analyzing hematoxylin and eosin (H&E)-stained slides to identify molecular biomarkers and genetic mutations, focus on launching advanced diagnostics tools which focus on providing accurate and clinically reliable information, focus on prioritizing the integration of quantitative reporting in medical imaging to improve liver disease diagnosis, focus on investments in personalized AI insights and focus on strategic partnerships and collaborations among major players in the AI in medical diagnostics market.
Player-adopted strategies in the AI in medical diagnostics market include focus on strengthening business operations through the launch of new solutions, focus on strengthening business operations through strategic partnerships and focus on strengthening business operations through new product approvals.
To take advantage of the opportunities, the analyst recommends the AI in medical diagnostics companies to focus on optimizing AI for precision and efficiency, focus on enhancing radiology efficiency with AI, focus on streamlining healthcare workflows with AI, focus on advancing non-contact vital sign monitoring with AI, focus on AI-driven personalized cancer therapies, focus on launching advanced AI diagnostic tools, focus on integrating quantitative reporting in medical imaging, focus on investing in personalized AI insights, focus on software solutions in AI medical diagnostics, focus on computer vision in AI medical diagnostics, focus on radiology in AI medical diagnostics, expand in emerging markets, focus on strategic partnerships and collaborations, focus on competitive and value-based pricing for AI in medical diagnostics, focus on targeted outreach and thought leadership for AI in medical diagnostics, focus on strategic partnerships and educational campaigns for AI in medical diagnostics, focus on computer-aided diagnosis in AI medical diagnostics and focus on hospitals in AI medical diagnostics.
The global AI in medical diagnostics market reached a value of nearly $1.92 billion in 2024, having grown at a compound annual growth rate (CAGR) of 33.58% since 2019. The market is expected to grow from $1.92 billion in 2024 to $10.89 billion in 2029 at a rate of 41.49%. The market is then expected to grow at a CAGR of 33.72% from 2029 and reach $46.59 billion in 2034.
Growth in the historic period resulted from the increase in demand for personalized medicine, rising adoption of cloud-based AI platforms, rising prevalence of chronic diseases and growing use of telemedicine services. Factors that negatively affected growth in the historic period was ethical concerns and data protection challenges.
Going forward, the increasing aging population worldwide, rising healthcare expenditure globally, favorable government initiatives and shortage of skilled healthcare professionals will drive the growth. Factor that could hinder the growth of the AI in medical diagnostics market in the future include high procurement cost of AI systems.
The global AI in medical diagnostics market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 60.90% of the total market in 2023. Siemens Healthineers AG was the largest competitor with a 11.10% share of the market, followed by Merative L.P. with 10.82%, Tempus Labs Inc. with 10.65%, Enlitic Inc. with 8.95%, GE Healthcare Technologies Inc. with 3.71%, Microsoft Corporation with 3.55%, Koninklijke Philips N.V. with 3.43%, NVIDIA Corporation with 3.39%, PathAI Inc. with 2.67% and Aidoc Medical Ltd. with 2.63%.
North America was the largest region in the AI in medical diagnostics market, accounting for 41.12% or $790.31 million of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the AI in medical diagnostics market will be Asia Pacific and Middle East where growth will be at CAGRs of 47.77% and 46.47% respectively. These will be followed by Africa and Eastern Europe where the markets are expected to grow at CAGRs of 45.36% and 42.21% respectively.
The AI in medical diagnostics market is segmented by component into software, hardware and services. The software market was the largest segment of the AI in medical diagnostics market segmented by component, accounting for 59.65% or $1.14 billion of the total in 2024. Going forward, the software segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by component, at a CAGR of 43.11% during 2024-2029.
The AI in medical diagnostics market is segmented by application into computer-aided detection, computer-aided diagnosis, quantitative analysis tools and clinical decision. The computer-aided detection market was the largest segment of the AI in medical diagnostics market segmented by application, accounting for 36.26% or $696.95 million of the total in 2024. Going forward, the computer-aided diagnosis segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by application, at a CAGR of 45.09% during 2024-2029.
The AI in medical diagnostics market is segmented by end user into hospitals, diagnostics imaging centers, diagnostics laboratories and other end users. The hospitals market was the largest segment of the AI in medical diagnostics market segmented by end user, accounting for 48.83% or $938.56 million of the total in 2024. Going forward, the hospitals segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by end user, at a CAGR of 43.24% during 2024-2029.
The AI in medical diagnostics market is segmented by technology into natural language processing, computer vision, machine learning and context-aware computing. The machine learning market was the largest segment of the AI in medical diagnostics market segmented by technology, accounting for 47.96% or $921.86 million of the total in 2024. Going forward, the computer vision segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by technology, at a CAGR of 44.11% during 2024-2029.
The AI in medical diagnostics market is segmented by specialty into cardiology, oncology, pathology, radiology, chest and lung, neurology and other specialties. The neurology market was the largest segment of the AI in medical diagnostics market segmented by specialty, accounting for 26.22% or $503.95 million of the total in 2024. Going forward, the radiology segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by specialty, at a CAGR of 45.41% during 2024-2029.
The top opportunities in the AI in medical diagnostics market segmented by component will arise in the software segment, which will gain $5.73 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by application will arise in the computer-aided detection segment, which will gain $3.26 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by end user will arise in the hospitals segment, which will gain $4.72 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by technology will arise in the machine learning segment, which will gain $4.39 billion of global annual sales by 2029. The top opportunities in the AI in medical diagnostics market segmented by specialty will arise in the neurology segment, which will gain $2.55 billion of global annual sales by 2029. The AI in medical diagnostics market size will gain the most in the USA at $2.51 billion.
Market-trend-based strategies for the AI in medical diagnostics market include focus on optimizing operations and elevate patient care by improving diagnostic precision and automating routine tasks, AI tools enhance real-time decision-making and treatment effectiveness, focus on utilizing advanced technologies to improve radiology efficiency, focus on streamlining healthcare workflows to reduce clinician burnout and improve productivity, focus on revolutionizing vital sign monitoring with technologies such as photoplethysmography (PPG) and cutting-edge sensors, focus on transforming personalized cancer therapies by analyzing hematoxylin and eosin (H&E)-stained slides to identify molecular biomarkers and genetic mutations, focus on launching advanced diagnostics tools which focus on providing accurate and clinically reliable information, focus on prioritizing the integration of quantitative reporting in medical imaging to improve liver disease diagnosis, focus on investments in personalized AI insights and focus on strategic partnerships and collaborations among major players in the AI in medical diagnostics market.
Player-adopted strategies in the AI in medical diagnostics market include focus on strengthening business operations through the launch of new solutions, focus on strengthening business operations through strategic partnerships and focus on strengthening business operations through new product approvals.
To take advantage of the opportunities, the analyst recommends the AI in medical diagnostics companies to focus on optimizing AI for precision and efficiency, focus on enhancing radiology efficiency with AI, focus on streamlining healthcare workflows with AI, focus on advancing non-contact vital sign monitoring with AI, focus on AI-driven personalized cancer therapies, focus on launching advanced AI diagnostic tools, focus on integrating quantitative reporting in medical imaging, focus on investing in personalized AI insights, focus on software solutions in AI medical diagnostics, focus on computer vision in AI medical diagnostics, focus on radiology in AI medical diagnostics, expand in emerging markets, focus on strategic partnerships and collaborations, focus on competitive and value-based pricing for AI in medical diagnostics, focus on targeted outreach and thought leadership for AI in medical diagnostics, focus on strategic partnerships and educational campaigns for AI in medical diagnostics, focus on computer-aided diagnosis in AI medical diagnostics and focus on hospitals in AI medical diagnostics.
Major Market Trends
- Utilizing AI to Streamline Medical Operations and Optimize Care Journeys Across the Healthcare System
- Transforming Healthcare Efficiency With AI-Driven Radiology Solutions for Faster and More Accurate Results
- Innovating Healthcare Workflows With AI to Address Clinician Burnout and Enhance Productivity
- Advancements in Vital Sign Monitoring Utilizing Photoplethysmography and Other Sensor Technologies
- Enhancing Personalized Cancer Therapies Through AI-Based Biomarker Identification
- Launch of Advanced Diagnostics Tools for Detecting Accurate and Clinically Reliable Information
- Integration of Quantitative Reporting in Medical Imaging for Liver Disease Diagnosis
- Increasing Investments to Revolutionize Decision-Making With Personalized AI Insights
- Strategic Partnerships and Collaborations Among Major Players
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 AI in Medical Diagnostics Market - Macro-Economic Scenario
9 Global Market Size and Growth
10 Global AI in Medical Diagnostics Market Segmentation
11 AI in Medical Diagnostics Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 AI in Medical Diagnostics Market, Conclusions and Recommendations
26 Appendix
Executive Summary
AI in Medical Diagnostics Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global AI in medical diagnostics market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for AI in medical diagnostics? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The AI in medical diagnostics market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider AI in medical diagnostics market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by component, by application, by end user, by technology and by specialty.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the AI in medical diagnostics market.
- Global Market Size and Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by component, by application, by end user, by technology and by specialty in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for AI in medical diagnostics providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Component: Software; Hardware; Services2) by Application: Computer-Aided Detection; Computer-Aided Diagnosis; Quantitative Analysis Tools; Clinical Decision
3) by End User: Hospitals; Diagnostics Imaging Centers; Diagnostics Laboratories; Other End Users
4) by Technology: Natural Language Processing; Computer Vision; Machine Learning; Context-Aware Computing
5) by Specialty: Cardiology; Oncology; Pathology; Radiology; Chest and Lung; Neurology; Other Specialties
Key Companies Profiled: Siemens Healthineers AG; Merative L.P.; Tempus Labs Inc.; Enlitic Inc.; GE Healthcare Technologies Inc.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time Series: Five years historic and ten years forecast..
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; AI in medical diagnostics indicators comparison..
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this AI in Medical Diagnostics market report include:- Siemens Healthineers AG
- Merative L.P.
- Tempus Labs Inc.
- Enlitic Inc.
- GE Healthcare Technologies Inc.
- Microsoft Corporation
- Koninklijke Philips N.V.
- NVIDIA Corporation
- PathAI Inc.
- Aidoc Medical Ltd.
- Samsung Medison Co., Ltd.
- Wipro GE Healthcare Private Limited
- Harrison.ai
- SK Telecom
- Healthians
- iHridAI
- InMed AI
- Olympus Corporation
- Anaut Inc.
- XtalPi
- Lunit
- Niramai
- Predible Healt
- Qure.ai
- Fujifilm Holdings Corporation
- Canon Medical Systems
- Hitachi Healthcare
- Vuno Inc.
- JLK Inspection
- Annex.ai
- 4DMedical
- HaloDoc
- Medico.ai
- AIHealth
- Ping An Good Doctor
- iFlytek
- HuiyiHuiying (HYHY)
- Ningbo Jansen NMR Technology Co., Ltd.
- YITU Technology
- Huawei Cloud
- Gleamer
- Guerbet
- Qure.ai Technologies Private Limited
- BioNTech SE
- Quantum Surgical
- Therapixel
- Merantix
- QUIBIM
- Nanobiosym
- Doctrin
- Icomera
- Sophia Genetics
- RetinAI Medical
- Eukarys
- Istituto Italiano di Tecnologia (IIT)
- Kheiron Medical
- Behold.ai
- Zaya AI
- Beeline
- Healbe
- Infermedica
- Syntellix AG
- Aireen
- CureMetrix
- Medo AI
- Caption Health
- DiA Imaging Analysis
- AI Precision
- Trillium Health Partners
- WELL Health Technologies Corp
- Stryker Corporation
- RadNet
- Beckman Coulter Diagnostics
- Exo
- Quest Diagnostics
- LabCorp
- Abbott Laboratories
- Thermo Fisher Scientific
- PathAI Diagnostics
- Bio-Rad Laboratories
- Becton Dickinson
- Agilent Technologies
- GenMark Diagnostics
- Butterfly Network
- Tempus AI
- Intel Corporation
- Micro Health LLC
- caption Health Inc.
- CARPL.ai
- Dasha
- Coraline Soft Co Ltd.
- AI Medical Service Inc.
- International Business Machines Corp
- AliveCor, Inc.
- Digital Diagnostics Inc.
- Tamer Healthcare
- PureHealth
- Dell Technologies
- Astute
- Eyenuk, Inc.
- Dr CADx
- Envisionit Deep AI
- Ilara Health
- hearX Group
- Lancet Laboratories
- Dileny Technologies
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 315 |
| Published | May 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 1.92 Billion |
| Forecasted Market Value ( USD | $ 46.59 Billion |
| Compound Annual Growth Rate | 37.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 107 |
