Artificial Intelligence in the Global Diagnostic Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Artificial Intelligence in the Diagnostic Market Trends and Forecast

The future of artificial intelligence in the global diagnostic market looks promising with opportunities in the radiology, oncology, neurology & cardiology, chest & lung, and pathology markets. The use of artificial intelligence in the global diagnostic market is expected to reach an estimated $3.8 billion by 2028 with a CAGR of 33.5% from 2023 to 2028. The major drivers for this market are increasing need to lower diagnostic expenses, technological developments in the healthcare sector, and rising demand for low-cost diagnostic components.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown here.

Artificial Intelligence in the Diagnostic Market by Segment

The study includes trends and forecast for artificial intelligence in the global diagnostic market by component, technology, diagnosis type, and region as follows:

Artificial Intelligence in the Diagnostic Market by Component [Shipment Analysis by Value from 2017 to 2028]:

Hardware

Software

Services
Artificial Intelligence in the Diagnostic Market by Technology [Shipment Analysis by Value from 2017 to 2028]:

Machine Learning

NLP

Context-Aware Computing

Computer Vision
Artificial Intelligence in the Diagnostic Market by Diagnosis Type [Shipment Analysis by Value from 2017 to 2028]:

Radiology

Oncology

Neurology & Cardiology

Chest & Lungs

Pathology

Others
Artificial Intelligence in the Diagnostic Market by Region [Shipment Analysis by Value from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World
List of Artificial Intelligence Companies in the Diagnostic Market

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, artificial intelligence companies in the diagnostic market cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of artificial intelligence companies in the diagnostic market profiled in this report include-

General Electric

Siemens

Aidoc Medical

AliveCor

Imagen Technologies

VUNO

IDx Technologies

NovaSignal Corporation

Riverain Technologies

Zebra Medical Vision
Artificial Intelligence in the Diagnostic Market Insights

Lucintel forecasts that software is expected to witness the highest growth over the forecast period due to advancement of AI-driven software designed for healthcare diagnosis in test accuracy, as well as increasing requirement for AI-enabled and cloud-centric enhanced diagnostic solutions to improve diagnostic accuracy significantly while interpreting medical imagery of patients.

Neurology & cardiology will remain the largest segment due to rising incidence of neurological disorders and increasing trend of adopting value based care in treating the cases of neurological disorders across the globe.

North America will remain the largest region over the forecast period due to widespread incorporation of electronic health records (EHRs), telehealth offerings, and additional digital healthcare solutions, as well as seamless integration of AI-driven diagnostic instruments.
Features of Artificial Intelligence in the Diagnostic Market

Market Size Estimates: Artificial intelligence in the diagnostic market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions.

Segmentation Analysis: Artificial intelligence in the diagnostic market size by various segments, such as by component, technology, diagnosis type, and region in terms of value ($B).

Regional Analysis: Artificial intelligence in the diagnostic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different components, technologies, diagnosis types, and regions for artificial intelligence in the diagnostic market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of artificial intelligence in the diagnostic market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ

Q.1 What is artificial intelligence in the diagnostic market size?

Answer: The use of artificial intelligence in the global diagnostic market is expected to reach an estimated $3.8 billion by 2028.

Q.2 What is the growth forecast for artificial intelligence in the diagnostic market?

Answer: The use of artificial intelligence in the global diagnostic market is expected to grow with a CAGR of 33.5% from 2023 to 2028.

Q.3 What are the major drivers influencing the growth of artificial intelligence in the diagnostic market?

Answer: The major drivers for this market are increasing need to lower diagnostic expenses, technological developments in the healthcare sector, and rising demand for low-cost diagnostic components.

Q4. What are the major segments for artificial intelligence in the diagnostic market?

Answer: The future of artificial intelligence in the diagnostic market looks promising with opportunities in the radiology, oncology, neurology & cardiology, chest & lung, and pathology markets.

Q5. Who are the key artificial intelligence companies in the diagnostic market?

Answer: Some of the key artificial intelligence companies in the diagnostic market are as follows:

General Electric

Siemens

Aidoc Medical

AliveCor

Imagen Technologies

VUNO

IDx Technologies

NovaSignal Corporation

Riverain Technologies

Zebra Medical Vision
Q6. Which segment in the diagnostic market in terms of artificial Intelligence usage will be the largest in future?

Answer: Lucintel forecasts that software is expected to witness the highest growth over the forecast period due to advancement of AI-driven software designed for healthcare diagnosis in test accuracy, as well as increasing requirement for AI-enabled and cloud-centric enhanced diagnostic solutions to improve diagnostic accuracy significantly while interpreting medical imagery of patients.

Q7. In the diagnostic market in terms of artificial Intelligence usage, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to widespread incorporation of electronic health records (EHRs), telehealth offerings, and additional digital healthcare solutions, as well as seamless integration of AI-driven diagnostic instruments.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for artificial intelligence in the diagnostic market by component (hardware, software, and services), technology (machine learning, NLP, context-aware computing, computer vision), diagnosis type (radiology, oncology, neurology & cardiology, chest & lungs, pathology, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?


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