Key Developments and Trends Steering the Artificial Intelligence In The Diagnostic Market Forward: Advancements In AI Computing Platforms For Diagnostic Solutions
Discover trends, market shifts, and competitive outlooks for the artificial intelligence in the diagnostic industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
How Fast Is The Artificial Intelligence In The Diagnostic Market Expected to Grow Between 2025 And 2029?
There has been an immense expansion in the size of the artificial intelligence in the diagnostic market in the past few years. It is projected from 2024’s figure of $4.29 billion to escalate to $5.99 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 39.5%. Factors such as an increase in disease prevalence, availability of data, cost-efficiency, regulatory backing, and heightened awareness have contributed to the remarkable growth during the historical phase.
The size of the artificial intelligence market in diagnostics is predicted to undergo significant growth in the coming years, reaching a value of $22.59 billion in 2029 with a compound annual growth rate of 39.4%. The surge in the forecast period is linked to trends in personalized medicine, swift development of healthcare data, global health issues, augmented investments, and improved integration with healthcare systems. Noteworthy developments in the forecast period encompass collaboration and investment, technological advancements, data privacy and security considerations, the emergence of explainable AI (xai), and the growing influence of computer vision.
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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Artificial Intelligence In The Diagnostic Market?
The growing occurrence of long-term health conditions, often known as chronic diseases, is anticipated to drive the expansion of AI in diagnostics. Integrating AI in the diagnostics of these continuing health conditions allows for early detection, enhanced decision-making systems, remote patient monitoring, expense reduction, as well as personalized patient treatment determined by their genetic structure and disease advancement. For example, the World Health Organization, a UN specialized agency based in Switzerland, reported in September 2023, that there were 41 million associated deaths annually, making up 74% of non-communicable or chronic disease-induced deaths globally. Also, cardiovascular diseases accounted for about 17.9 million deaths, cancers 9.3 million, chronic respiratory diseases 4.1 million, and diabetes 2.0 million. Hence, the escalating prevalence of chronic diseases is fueling the advancement of AI in the diagnostic market.
Which Segments in the Artificial Intelligence In The Diagnostic Offer the Most Growth?
The artificial intelligence in the diagnostic market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, NLP (Natural Language Processing), Context-Aware Computing, Computer Vision
3) By Diagnosis Type: Radiology, Pathology, Cardiology, Oncology, Neurology, Chest And Lung, Other Diagnosis Types
Subsegments:
1) By Hardware: Imaging Devices, Diagnostic Equipment, Wearable Devices
2) By Software: Diagnostic Imaging Software, Data Analytics Software, Machine Learning Algorithms, Clinical Decision Support Systems
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Training Services
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What Are the Fastest-Growing Geographies in the Artificial Intelligence In The Diagnostic Market?
North America was the largest region in the artificial intelligence in diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in the diagnostic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Current Market Growth and Trends in the Artificial Intelligence In The Diagnostic Industry?
Leading firms in the AI in diagnostics domain are focusing on creating novel technologies, like AI modules, to establish a strong place in the market. An AI module refers to a standalone software unit that incorporates particular AI abilities or features. For example, Qritive, a provider of AI-driven solutions headquartered in Singapore, introduced QAi Prostate for diagnosing prostate cancer in March 2023. QAi Prostate is adept at identifying the most prevalent type of prostate cancer, potentially enhancing diagnostic precision and minimizing false positives. The instrument assists pathologists in differentiating between cancerous and non-cancerous tissue sections, supporting the prescription of an appropriate treatment. QAi Prostate can also prioritize cases for quicker diagnoses and reporting, thereby refining efficiency and patient care.
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What Are the Key Elements That Define the Artificial Intelligence In The Diagnostic Market?
AI in diagnostics refers to the application of artificial intelligence (AI) technologies in medical diagnosis, which involves the use of advanced algorithms, machine learning, and data analysis techniques to interpret medical data, images, and clinical information. The implementation of AI in diagnostics aims to improve the accuracy, speed, and efficiency of medical diagnoses.
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