CRI Report has released a report titled “AI in Medical Diagnostics Market – Analysis of Market Size, Share & Trends for 2020 – 2030 and Forecasts to 2030” which is anticipated to reach USD 19.96 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 44.58% between 2020 and 2030.
According to the report, the market is estimated to proliferate owing to the rising incidence of chronic medical conditions and genetic diseases throughout the world. In addition, the growing elderly population, which is susceptible to musculoskeletal, oncological, dermatological, and cardiological illnesses, is driving market expansion.
As a result, the broad acceptance of organ transplantation is also helping to drive market development. Other growth-inducing variables include technological breakthroughs in cell-based treatments, such as the development of 3D bioprinting techniques and the use of artificial intelligence (AI) in the manufacture of regenerative medicines.
The market report on global AI in Medical Diagnostics market includes in-depth insights as:
- The estimated value of the market was USD 0.5 billion in the year 2020.
- Region-wise, the market in North America which held the largest market share in the year 2019, emerged as a key market for AI in Medical Diagnostics Market.
- Based on Component, Software segment emerged as a key segment in the global AI in Medical Diagnostics Market.
- Based on End-User, Hospitals segment emerged as a key segment in the global AI in Medical Diagnostics market.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The rising use of AI goods and services in the healthcare industry is due to a growing knowledge of the benefits given by AI methods and their broad application areas. Various top healthcare businesses are forming alliances and collaborations with premier AI technology providers in order to develop novel AI-based solutions for healthcare applications.
These tactics allow these market players to provide improved solutions to their consumers while also bolstering their standing in this fast-paced market.”, according to this report
One of the most significant scientific advances in medicine to date is artificial intelligence in healthcare. A significant element contributing to the sector’s growth is the involvement of numerous start-ups in the development of AI-driven imaging and diagnostic products.
Image capture, processing, assisted reporting, follow-up, data storage, data mining, and other artificial intelligence applications are all available. Machine learning blends computer models and algorithms with artificial neural networks to mimic the brain’s organic neural network architecture (ANNs). Deep learning has a greater success rate than traditional machine learning in terms of output.
Global AI in Medical Diagnostics market is segmented by Component into Software and Services. Among these Software is expected to have the highest growth in the forecast period. Despite the constraints of being short-staffed and dealing with growing imaging scan volumes, software solutions assist healthcare providers to achieve a competitive edge.
This is a major driver of the software market’s expansion. Many companies are developing software solutions for a variety of healthcare applications, which is a key factor in the software segment’s growth. The services category is anticipated to increase in the latter half of the projection period as hospitals and other healthcare service providers implement AI-driven healthcare informatics solutions and healthcare operational support.
Key Players in the Market
- Some of the key players operating in the global AI in Medical Diagnostics market are Microsoft Corporation, NVIDIA, IBM, Intel, Siemens Healthineers, GE Healthcare, Digital Diagnostics, Xilinx, InformAI, Enlitic, Day Zero, Diagnostics, Aidance, Butterfly Network, Inc., Prognos, Zebra, Medical Vision.
Get Valuable Insights into Global AI in Medical Diagnostics Market
In the new report, CRI Report thrives to present an unbiased analysis of the global AI in the Medical Diagnostics market that covers the historical demand data as well as the forecast figures for the period, i.e., 2020-2030. The study includes compelling insights into growth that is witnessed in the market.
The market is segmented by Component into Software, Services. By Application into In Vivo Diagnostics, In Vitro Diagnostics. By End-User into Hospitals, Diagnostic Imaging Centers, Diagnostic Laboratories, Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.