Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Global Digital Diagnostics Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
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.
The 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.
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. 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. 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. 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 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. Additionally, Asia Pacific 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.
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
- Exhaustive Company Profiles of Top 10+ Market Players
Segmentation: Digital Diagnostics Market
- Product
- Services
- Software
- Hardware
- Diagnosis Type
- Radiology
- Neurology
- Oncology
- Cardiology
- Pathology
- Others
- End-user
- Hospitals & Clinics
- Clinical Laboratories
- Others
- Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Companies Featured
- 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
For more information about this report visit https://www.researchandmarkets.com/r/qwhvxg
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