Dublin, July 19, 2024 (GLOBE NEWSWIRE) -- The "AI in Medical Diagnostics Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global AI in medical diagnostics market reached a value of nearly $1.39 billion in 2023, having grown at a compound annual growth rate (CAGR) of 32.10% since 2018. The market is expected to grow from $1.39 billion in 2023 to $7.77 billion in 2028 at a rate of 40.94%. The market is then expected to grow at a CAGR of 34.74% from 2028 and reach $34.52 billion in 2033.
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? This 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.
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 include low healthcare access in developing countries and incompatible legacy health IT infrastructure.
Going forward, the increasing aging population worldwide, rising healthcare expenditure globally, favorable government initiatives and shortage of skilled healthcare professionals will drive the market. Factors that could hinder the growth of the AI in medical diagnostics market in the future include high procurement cost of AI systems.
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 59.26% or $828.44 million of the total in 2023. 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 42.27% during 2023-2028.
The AI in medical diagnostics market is segmented by technology into natural language processing, computer vision, machine learning, context-aware computing and other technologies. The machine learning market was the largest segment of the AI in medical diagnostics market segmented by technology, accounting for 47.74% or $667.34 million of the total in 2023. Going forward, the machine learning segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by technology, at a CAGR of 41.50% during 2023-2028.
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 25.84% or $361.2 million of the total in 2023. 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 44.98% during 2023-2028.
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 36.13% or $505.06 million of the total in 2023. Going forward, the computer-aided detection segment is expected to be the fastest growing segment in the AI in medical diagnostics market segmented by application, at a CAGR of 44.29% during 2023-2028.
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 47.95% or $670.33 million of the total in 2023. Going forward, the hospitals segment is expected to be the fastest growing segment in AI in medical diagnostics market segmented by end user, at a CAGR of 42.91% during 2023-2028.
North America was the largest region in the AI in medical diagnostics market, accounting for 42.25% or $590.67 million of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the AI in medical diagnostics market will be Asia-Pacific and the Middle East, where growth will be at CAGRs of 47.65% and 46.38% respectively. These will be followed by Eastern Europe and South America, where the markets are expected to grow at CAGRs of 41.58% and 41.51% respectively.
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 56.02% of the total market. Siemens Healthineers AG was the largest competitor with a 13.17% share of the market, followed by Merative L.P. with 12.81%, Tempus Labs with 5.01%, GE Healthcare Technologies Inc. with 4.89%, Koninklijke Philips N.V. with 4.16%, Ping An Healthcare And Technology Company Limited with 3.68%, Microsoft Corporation with 3.57%, Aidoc Medical Ltd with 3.50% PathAI, Inc. with 2.72% and HeartFlow Inc. with 2.50%.
The top opportunities in the AI in medical diagnostics market segmented by component will arise in the software segment, which will gain $4.0 billion of global annual sales by 2028. The top opportunities in the AI in medical diagnostics market segmented by technology will arise in the machine learning segment, which will gain $3.11 billion of global annual sales by 2028. The top opportunities in the AI in medical diagnostics market segmented by specialty will arise in the neurology segment, which will gain $1.79 billion of global annual sales by 2028. The top opportunities in the AI in medical diagnostics market segmented by application will arise in the computer-aided detection segment, which will gain $2.32 billion of global annual sales by 2028. The top opportunities in the AI in medical diagnostics market segmented by end user will arise in the hospitals segment, which will gain $3.32 billion of global annual sales by 2028. The AI in medical diagnostics market size will gain the most in the USA at $1.96 billion.
Market-trend-based strategies for the AI in medical diagnostics market include launch of advanced diagnostics tools for detecting accurate and clinically reliable information, advancements in medical imaging improving diagnostic accuracy, increasing investments to revolutionize decision-making with personalized ai insights, strategic partnerships and collaborations among major players and focus on developing innovative and advanced products to implement new capabilities.
Player-adopted strategies in the AI in medical diagnostics market include focus on strengthening business operations through the launch of new solutions and strengthening business capabilities through strategic partnerships and new product approvals.
Markets Covered:
1) by Component: Software; Hardware; Services.
2) by Technology: Natural Language Processing; Computer Vision; Machine Learning; Context-Aware Computing.
3) by Specialty: Cardiology; Oncology; Pathology; Radiology; Chest and Lung; Neurology; Other Specialties.
4) by End User: Hospitals; Diagnostics Imaging Centers; Diagnostics Laboratories; Other End Users.
5) by Application: Computer-Aided Detection; Computer-Aided Diagnosis; Quantitative Analysis Tools; Clinical Decision.
Key Companies Mentioned: Siemens Healthineers AG; Merative L.P.; Tempus Labs; GE Healthcare Technologies Inc.; Koninklijke Philips N.V.
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.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 308 |
| Forecast Period | 2021-2031 |
| Estimated Market Value (USD) in 2021 | $1.39 Billion |
| Forecasted Market Value (USD) by 2031 | $34.52 Billion |
| Compound Annual Growth Rate | 37.8% |
| Regions Covered | Global |
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 technology, by specialty, by application and by end user.
- 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 (2018-2023) and forecast (2023-2028, 2033F) 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 (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by component, by technology, by specialty, by application and by end user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) 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.
- 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.
A selection of companies mentioned in this report includes, but is not limited to:
- Siemens Healthineers AG
- Merative L.P.
- Tempus Labs
- GE Healthcare Technologies Inc.
- Koninklijke Philips N.V.
- Ping An Healthcare And Technology Company Limited
- Microsoft Corporation
- Aidoc Medical Ltd.
- PathAI, Inc.
- HeartFlow Inc.
- XtalPi
- iHridAI
- InMed AI
- Olympus Corporation
- Samsung Medison Co.
- Lunit
- Niramai
- Predible Healt
- Qure.ai
- Fujifilm Holdings Corporation
- Canon Medical Systems
- Hitachi Healthcare
- Vuno Inc
- JLK Inspection
- Harrison.ai
- Annex.ai
- 4DMedical
- HaloDoc
- Medico.ai
- AIHealth
- Ping An Good Doctor
- iFlytek
- HuiyiHuiying (HYHY)
- Ningbo Jansen NMR Technology Co. Ltd.
- YITU Technology
- Huawei Cloud
- 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
- 1C-Bitrix
- Healbe
- Medisprof
- Fast-Bits
- Quantum Lab
- Infermedica
- Coronaria
- Syntellix AG
- Royal Philips
- RadNet
- Beckman Coulter Diagnostics
- Exo
- Quest Diagnostics
- LabCorp
- Abbott Laboratories
- Thermo Fisher Scientific
- Bio-Rad Laboratories
- Becton Dickinson
- Agilent Technologies
- Roche Diagnostics
- GenMark Diagnostics
- AI Medical Service Inc
- Inovativ
- Hi Technologies
- QMENTA
- Xinapse Systems
- AURA Technologies
- Conexa
- MedicSen
- DeepVision
- SAVANA
- Botminds
- Tamer Healthcare
- PureHealth
- Medial EarlySign
- DiA Imaging Analysis
- CureMetrix
- AlyxHealth
- Malaffi
- G42 Healthcare
- Viz.ai
- Eyenuk
- Lancet Laboratories
- Envisionit Deep AI
- Chil AI Lab Group
- CapeRay
- Xolani Health
- VitruvianMD
- Rology
- Diagnosify
- Dr CADx
For more information about this report visit https://www.researchandmarkets.com/r/uhhbmw
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