Press release
AI in Medical Diagnostics Market Set to Increase from $1.92 billion in 2024 to $10.9 billion by 2029
AI In Medical Diagnostics Market Size
What Is The Projected Market Size Of The Global AI In Medical Diagnostics Market And Its Growth Rate?
The AI in medical diagnostics market size has shown remarkable growth over the recent years, with significant advancements forecasted for the years to come.
• Market size in 2024: $1.92 billion
• Market size in 2025: $2.66 billion (CAGR of 38.6%)
• Forecasted Market size in 2029: $10.9 billion (CAGR of 42.2%)
Driven by factors such as the rising incidence of chronic diseases, increased demand for natural products, and an aging population, the market is expected to continue its growth trend.
What Is Driving The Growth In The AI In Medical Diagnostics Market?
Growth in the AI in medical diagnostics market is being fueled by increasing investment in healthcare. Enhanced health expenditure from both public and private sector supports employment in healthcare, increases earnings for healthcare professionals, and stimulates the demand for associated goods and services. For instance, the Canadian Institute for Health Information predicted health expenditure to reach $344 billion in 2023. Such investments are inviting for implementation of AI technology in healthcare, thus driving the growth of the market.
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Who Are the Key Players Driving AI In Medical Diagnostics Market Growth?
The key players in the AI in medical diagnostics market include:
• International Business Machines Corporation
• Siemens Healthineers AG
• GE HealthCare Technologies Inc.
• Digital Diagnostics Inc.
• Heartflow Inc.
• Aidoc Medical Ltd.
• Koninklijke Philips N.V.
• Nanox Imaging Ltd.
• Microsoft Corporation
• Nvidia Corporation.
What Are The Key Trends In The AI In Medical Diagnostics Market?
Trends identified in the AI in medical diagnostics market include:
• Rising consumer awareness and demand for functional foods
• Expanding applications in nutraceuticals and dietary supplements
• Focus on natural and plant-based sources
• Innovations in extraction and processing technologies
• Health and wellness as a lifestyle enhancement.
What Are The Segments Of The Global AI In Medical Diagnostics Market?
The global AI in medical diagnostics market is segmented by:
• Component: Software, Services
• Technology: Natural Language Processing, Computer Vision, Machine Learning, Context-Aware Computing, Other Technologies
• Specialty: Brain And Neurological, Oncology, Cardiac And Vascular, Chest And Lung, Obstetrics And Gynecology, Other Specialties
• Application: Computer-Aided Detection, Computer-Aided Diagnosis, Quantitative Analysis Tools, Clinical Decision
• End User: Hospitals, Diagnostics Imaging Centers, Diagnostics Laboratories, Other End Users.
Which Region Leads The AI In Medical Diagnostics Market?
North America led the AI in medical diagnostics market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the global AI in medical diagnostics market report in the forecast period.
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What Is Covered In The AI In Medical Diagnostics Market Global Market Report?
- Market Size Analysis: Analyze the AI In Medical Diagnostics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the AI In Medical Diagnostics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall AI In Medical Diagnostics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the AI In Medical Diagnostics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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