AI Diagnostics Market Trends and Forecast
The future of the global AI diagnostics market looks promising with opportunities in the hospital, research laboratory, and contract research organization markets. The global AI diagnostics market is expected to grow with a CAGR of 23.4% from 2024 to 2030. The major drivers for this market are increasing demand for cost-effective diagnostic solutions, growing need for efficient diagnostic tools for age-related diseases, and increasing demand for advanced medical technology.
• Lucintel forecasts that hardware is expected to witness the highest growth over the forecast period.
• Within this market, hospital is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Diagnostics Market
• United States: IBM Watson Health launched AI-driven diagnostic tools aimed at improving cancer detection rates. The U.S. government increased funding for AI in healthcare to enhance early disease diagnosis and personalized treatment.
• United Kingdom: NHS collaborated with Google Health to implement AI algorithms for early detection of breast cancer. The UK government announced a national AI strategy focusing on integrating AI in healthcare services to improve diagnostic accuracy.
• China: Ping An Good Doctor introduced an AI-based diagnostic system for primary care clinics. The Chinese government set targets to incorporate AI diagnostics in 70% of hospitals by 2025, aiming to boost healthcare efficiency and accessibility.
• Germany: Siemens Healthineers unveiled an AI-powered imaging solution for early detection of cardiovascular diseases. The German government launched an initiative to support AI innovation in healthcare, aiming to become a leader in AI diagnostics by 2030.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Diagnostics Market by Segment
The study includes a forecast for the global AI diagnostics market by type, application, and region.
AI Diagnostics Market by Type [Value from 2018 to 2030]:
• Hardware
• Software
• Service
AI Diagnostics Market by Application [Value from 2018 to 2030]:
• Hospitals
• Research Laboratories
• Contract Research Organizations
• Others
AI Diagnostics Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Diagnostics Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI diagnostics companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI diagnostics companies profiled in this report include-
• Oxitone Medical
• MC10
• Medtronic
• UE LifeSciences
• Vital Connect
• Biomeme
• MidMark
• Bio SB
• Cerora
• CellScope
Recent Development in the AI Diagnostics Market
• IBM Watson Health: IBM Watson Health has been pioneering AI applications in diagnostics, particularly in oncology. Their initiative includes developing AI-driven diagnostic tools that enhance accuracy in detecting various types of cancer. This development is significant as it aims to improve patient outcomes through early and precise diagnosis.
• Google Health: Google Health has focused on leveraging AI algorithms for medical imaging analysis. Their initiative includes partnerships with healthcare providers to implement AI-powered diagnostic tools for conditions like diabetic retinopathy and breast cancer. This approach aims to streamline diagnostic processes and improve diagnostic accuracy.
• Siemens Healthineers: Siemens Healthineers has introduced AI-powered imaging solutions for diagnostic purposes. Their initiative involves developing AI algorithms that assist in early detection of cardiovascular diseases, enabling healthcare professionals to make timely and accurate diagnoses. This development contributes to more efficient healthcare delivery and improved patient care.
• Ping An Good Doctor: Ping An Good Doctor, a leading healthcare technology company in China, has launched an AI-based diagnostic system for primary care clinics. This initiative aims to improve diagnostic accuracy and efficiency in primary healthcare settings, ultimately benefiting a larger population by making healthcare more accessible and effective.
• NVIDIA: NVIDIA has been at the forefront of providing AI infrastructure for healthcare applications, including diagnostics. Their initiative includes developing AI platforms and solutions that empower healthcare providers to deploy AI-driven diagnostic tools effectively. This development supports the scalability and implementation of AI diagnostics across various healthcare facilities worldwide.
Features of the Global AI Diagnostics Market
Market Size Estimates: AI diagnostics market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI diagnostics market size by type, application, and region in terms of value ($B).
Regional Analysis: AI diagnostics market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI diagnostics market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI diagnostics market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI diagnostics market?
Answer: The global AI diagnostics market is expected to grow with a CAGR of 23.4% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI diagnostics market?
Answer: The major drivers for this market are increasing demand for cost-effective diagnostic solutions, growing need for efficient diagnostic tools for age-related diseases, and increasing demand for advanced medical technology.
Q3. What are the major segments for AI diagnostics market?
Answer: The future of the AI diagnostics market looks promising with opportunities in the hospital, research laboratory, and contract research organization markets.
Q4. Who are the key AI diagnostics market companies?
Answer: Some of the key AI diagnostics companies are as follows:
• Oxitone Medical
• MC10
• Medtronic
• UE LifeSciences
• Vital Connect
• Biomeme
• MidMark
• Bio SB
• Cerora
• CellScope
Q5. Which AI diagnostics market segment will be the largest in future?
Answer: Lucintel forecasts that hardware is expected to witness the highest growth over the forecast period.
Q6. In AI diagnostics market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI diagnostics market by type (hardware, software, and service), application (hospitals, research laboratories, contract research organizations, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Diagnostics Market Market, AI Diagnostics Market Market Size, AI Diagnostics Market Market Growth, AI Diagnostics Market Market Analysis, AI Diagnostics Market Market Report, AI Diagnostics Market Market Share, AI Diagnostics Market Market Trends, AI Diagnostics Market Market Forecast, AI Diagnostics Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.