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What fueled the previous growth in the digital diagnostics market?

In recent times, the size of the digital diagnostics market has experienced a significant expansion. The market is projected to rise from $1.76 billion in 2024 to $2.16 billion in 2025, showing a compound annual growth rate (CAGR) of 22.7%. The historical expansion of the market stems from factors such as higher investment and funding levels, an increase in awareness and training, more support for research and development, a growing focus on ESG aspects, and a rise in patient-focused methodologies.

What will be the digital diagnostics market size in the future?

The anticipated expansion of the digital diagnostics market is slated to be significant in the forthcoming years, with it expected to attain a valuation of $4.86 billion by 2029, growing at a compound annual growth rate (CAGR) of 22.4%. Various factors such as worldwide health drives, healthcare globalization, a cultural inclination towards digital remedies, support from healthcare organizations, and refinement of diagnostic proficiency are contributing to this upturn during the projected span. The noteworthy developments for this period include an increase in point-of-care testing, evolution of telemedicine solutions, advanced software solution innovations, enrichment of digital pathology solutions, and utilization of blockchain for enhanced data security.

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What main drivers are fueling expansion in the digital diagnostics market?

The digital diagnostics market is poised for growth, propelled by the surge in chronic illness cases. Factors such as aging demographics, climbing obesity rates, inactive lifestyles, and environmental factors coupled with impressive diagnosis and awareness can be attributed to this increase in chronic conditions. Digital diagnostics is crucial for managing chronic illnesses as it allows for constant supervision, timely detection of issues, and tailored treatment changes, thereby improving disease control and patient success in the long term. For example, approximately 20 million novel cancer cases and 9.7 million cancer-related fatalities occurred in 2022, as reported by the World Health Organization, an intergovernmental organization based in Switzerland, in February 2024. The most prevalent type was lung cancer, with 2.5 million new incidents, or 12.4% of all new cases. Female breast cancer was next with 2.3 million cases (11.6%), colorectal cancer with 1.9 million cases (9.6%), prostate cancer with 1.5 million cases (7.3%), and stomach cancer with 970,000 cases (4.9%). It is projected that countries with high Human Development Index (HDI) would witness the most significant surge in incidence, envisaging an extra 4.8 million new cases by 2050 compared to 2022. Consequently, the rise in chronic illness cases catalyzes the expansion of the digital diagnostics market.

What key areas define the segmentation of the global digital diagnostics market?

The digital diagnostics market covered in this report is segmented –

1) By Product: Hardware, Software, Services

2) By Application: Cardiology, Gynecology, Infectious Diseases, Oncology, Diabetes, Other Applications

3) By End-Users: Hospitals And Clinics, Clinical Laboratories, Pharmaceutical And Biotechnology Companies, Academic And Research Institutes, Other End-Users

Subsegments:

1 By Hardware: Diagnostic Devices, Wearable Devices, Sensors And Monitoring Equipment

2) By Software: Diagnostic Software, Data Analytics Software, Artificial Intelligence (AI) And Machine Learning Software, Cloud-Based Platforms

3) By Services: Diagnostic Testing Services, Telemedicine And Remote Monitoring Services, Data Management And Analytics Services

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Who are the dominant players expanding their reach in the digital diagnostics market?

Major companies operating in the digital diagnostics market are Hoffmann-La Roche Holding AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers , Koninklijke Philips N.V., General Electric Company, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Hologic Inc., bioMérieux S.A., Bio-Rad Laboratories Inc., Fulgent Genetics Inc., Guardant Health Inc., Tempus Labs Inc., Genomic Health Inc., EDX Medical Inc., PathAI Inc., Healthy.io Ltd., BrightInsight Inc., Digital Diagnostics Inc., Brainomix Limited, DnaNudge Ltd., GRAIL Inc.

What emerging trends are influencing the growth of the digital diagnostics market?

Major companies operating in the digital diagnostics market are focusing on developing technologically advanced products, such as digital cytology systems, to enhance diagnostic accuracy, streamline workflows, and enable remote analysis through advanced imaging and AI-driven tools. A digital cytology system is an advanced diagnostic platform that utilizes imaging technology and artificial intelligence to analyze and interpret cytological samples for accurate and efficient medical diagnoses. For instance, in February 2024, Hologic Inc., a US-based medical technology company, announced the U.S. Food and Drug Administration (FDA) approval for its Genius Digital Diagnostics System with the Genius Cervical AI algorithm. The Genius Digital Diagnostics System is the first and only FDA-cleared digital cytology platform that integrates deep-learning-based AI with advanced volumetric imaging to identify pre-cancerous lesions and cervical cancer cells. Unlike traditional methods where cervical cells collected during a Pap test are examined manually under a microscope, this system digitizes the glass slides and uses AI to highlight key cells for cytologists and pathologists to review.

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Which regions are emerging as leaders in the digital diagnostics market?

North America was the largest region in the digital diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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