Artificial Intelligence in Diagnostics Market Increasing at A Phenomenal Pace to Reach $21.28 Billion By 2032

Some of key players in artificial intelligence in diagnostics market include Microsoft Corporation (US), NVIDIA (US), IBM (US), Intel (US), Siemens Healthineers (Germany), GE Healthcare (US), Digital Diagnostics (US), Xilinx (US), InformAI (US), Enlitic (US), Day Zero Diagnostics (US), Aidence (Netherlands), Butterfly Network, Inc. (US), Prognos (US), Zebra Medical Vision (Israel), Viz.ai (US), Quibin (Spain), Qure.ai (India), Therapixel (France), and HeartFlow (US), among others. These players are set to bolster the development of global artificial intelligence in diagnostics market.

According to Zion Market Research, the global Artificial Intelligence in Diagnostics Market was worth USD 15.75 Billion in 2023. The market is forecast to reach USD 21.28 Billion by 2032, growing at a compound annual growth rate (CAGR) of 3.4% during the forecast period 2024-2032.

This review is based on a report by Zion Market Research, titled “Artificial Intelligence in Diagnostics Market By Component (Software and Service), By Application (In Vivo, Radiology, OBGY, MRI, CT, Ultrasound and IVD), By End User (Hospital, Diagnostic Laboratory and Diagnostic Imaging Center): Global Industry Perspective, Comprehensive Analysis and Forecast, 2023-2032.”

Increased penetration of AI in healthcare sector bolstered the growth of artificial intelligence in diagnostics market

The rising penetration of AI in healthcare sector, increasing adoption of the advanced technology by the patients & physicians for diagnosis of the disease, and ability of AI to enhance the process of decision-making are some of the factors fuelling the growth of the global artificial intelligence in diagnostics market. A programmed AI-driven software can spot signs of certain diseases precisely in CT scans, MRIs and X-rays. In a recent research, Google has proved that a neural network can be trained to identify signs of lung cancer faster and earlier as compared to a trained radiologist.

Moreover, most of the diagnostic tests requires manual analysis & inputs, which makes them expensive, time consuming, and leaves space for human errors. In such case, AI overcomes all these factors and focuses majorly on enhancing the accuracy of diagnostics and improves patient safety. All these advantages of AI in diagnostics are also contributing to the growth of the global artificial intelligence in diagnostics market. Furthermore, the recent covid-19 pandemic has resulted in rising adoption of AI in medical diagnostics, thereby creating huge opportunities for the growth of the global artificial intelligence in diagnostics market. However, lack of expertise and high cost of installation may hamper the growth of the market.

High adoption AI in Healthcare in The Region Support North American Dominance

In terms of market share and revenue, North America dominates the artificial intelligence in diagnostics market. During the forecast period, this region is projected to maintain its dominance. The demand for artificial intelligence in diagnostics market will rise in tandem with the growth and expansion of the healthcare industry. The other factors which contribute to the growth of the market in this region include high adoption rate of AI in healthcare sector by public & private organizations, large government funding for healthcare sector especially in the United States, availability of skilled work force, etc.

Browse the full “Artificial Intelligence In Diagnostics Market By Component (Software And Service), By Application (In Vivo, Radiology, OBGY, MRI, CT, Ultrasound And IVD), By End User (Hospital, Diagnostic Laboratory And Diagnostic Imaging Center): Global Industry Perspective, Comprehensive Analysis And Forecast, 2023-2032.” Report at https://www.zionmarketresearch.com/report/artificial-intelligence-in-diagnostics-market

The global artificial intelligence in diagnostics market is segmented as follows:

By Component Type

• Software
• Services

By Application Type

• In Vivo
• Radiology
• OBGY
• MRI
• CT
• Ultrasound
• IVD

By End User Type

• Hospital
• Diagnostic Laboratory
• Diagnostic Imaging Center

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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