Global Artificial Intelligence Diagnostic Market Bwc20108
Artificial Intelligence Diagnostic Market- Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Solution (Hardware, Software & Services), By Technology (Speech Recognition, Querying Method, Natural Language Processing, Machine Learning, Context-Aware Processing), By Application (Imaging & Diagnostics, Drug Discovery, Lifestyle Management & Monitoring, Emergency Room & Hospital Management, Insights & Risk Analytics, Wearables, Virtual Assistants, Others), By End-User (Hospitals, Pharmaceutical Organizations, Diagnostic Centers, Clinics), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: June 2021
- Report ID: BWC20108
- Available Format: PDF
- Page: 161
Report Overview
The global artificial intelligence diagnostic market was worth USD 416.1 million in 2020 and is further projected to reach USD 4164.0 million by the year 2027, growing at the CAGR of 39.2% in the forecast period.
Global Artificial Intelligence Diagnostic Market- Industry Trends & Forecast Report 2027
The global artificial intelligence diagnostic market was worth USD 416.1 million in 2020 and is further projected to reach USD 4164.0 million by the year 2027, growing at the CAGR of 39.2% in the forecast period. Increasing demands for reduced diagnostic costs, better patient care, and shorter equipment downtime have propelled the use of AI (artificial intelligence) in diagnostics. Aside from that, rising demand for low-cost diagnostic procedures, accurate and competent report testing and speedy diagnostic data collection are some of the other aspects driving the growth of AI in diagnostics, thereby propelling the global artificial intelligence diagnostic market forward.
Source: BlueWeave Consulting
Global Artificial Intelligence Diagnostic Market- Overview
Artificial intelligence (AI) refers to the creation of unique systems through the use of procedures and software that can accomplish certain tasks without the slightest human intervention or commands. Machine learning, natural language processing, reasoning, and insight are all examples of artificial intelligence technologies. It is used in healthcare to simulate human perception and deduce conclusions from complex medical and diagnostic data presented in graphs or other images. Artificial intelligence is mainly used in healthcare to find the relationship between treatment techniques and their effects on the patient.
Global Artificial Intelligence Diagnostic Market Forecast and Trends
Growth Drivers
Increasing Strategic Alliances and Collaborations among Several AI Solution Providers and Healthcare Facilities
Growing strategic alliances and collaborations between numerous AI solution providers and healthcare facilities is a primary factor enhancing market growth. For instance, Quest Diagnostics and Paige announced their collaboration on researching the potential of artificial intelligence and improving and accelerating its application in the diagnosis of cancer and other diseases, which are dependent on pathological assessment. Growing collaborations and alliances allow market participants and research institutes to share their results and resources in order to further expand and create new software and technologies, thereby propelling the market forward.
Rise of Advanced AI technologies in Medical Diagnosis
The increasing acceptance of cloud-based applications and services in the healthcare sector are the primary drivers influencing the growth of the global artificial intelligence diagnostic market. The AI technologies are increasingly being used detection of certain diseases through symptoms and spots especially in imaging techniques like MRIs, x-ray, CT scans, etc. These technologies analyze images of skin lesions and are widely used to diagnose cancer. Furthermore, numerous software and solutions, such as Enlitic, which streamlines radiological diagnosis, and Freenome, which is creating an artificial intelligence-powered blood-based early colorectal (CRC) screening test, are driving market expansion.
Restraints
Lack of Awareness regarding AI Technologies Among Medical Practitioners
Healthcare technologies are developing every day, providing enhanced and improved treatment and monitoring. However, because of the constant change, medical practitioners frequently feel overwhelmed in keeping up with this evolving technology. As a result, they may be hesitant to adopt cutting-edge technologies such as AI. To function, these technologies require knowledge and experience. Healthcare practitioners are also skeptical about the accuracy of AI diagnoses. This is a significant impediment to the growth of the global artificial intelligence diagnostic market.
Impact of COVID-19 on Global Artificial Intelligence Diagnostic Market
The COVID-19-induuced pandemic has bolstered the global artificial intelligence diagnostic market. Following the COVID-19 outbreak, the use of AI diagnostic technologies for detecting the presence of viruses in the human body skyrocketed. AI technologies are increasingly being used in scanning hospital visitors for the presence of COVID-19, which ensures the safety of the healthcare professionals as well as hospital staff. Furthermore, these advanced technologies are also being used in monitoring the vitals of COVID-19-affected patients and providing them with the required care.
Global Artificial Intelligence Diagnostic Market - By Solution
Based on solutions, the global artificial intelligence diagnostics market is segmented into hardware and software & services. The software segment in the AI healthcare market is estimated to register the highest CAGR during the forecast period. Many AI companies are developing varied software solutions for a variety of healthcare applications. This is an important factor boosting the growth of the software segment. The growing acceptance of AI-driven healthcare informatics solutions and healthcare operational support by hospitals and other healthcare service providers is predicted to bring a surge in AI applications in the latter part of the prediction period.
Global Artificial Intelligence Diagnostic Market - By Technology
Based on technology, the global artificial intelligence diagnostic market is categorized into speech recognition, querying methods, natural language processing, machine learning, and context-aware processing. Machine learning in the AI healthcare market is anticipated to exhibit the highest CAGR during the prediction period. The growing acceptance of deep learning in a variety of healthcare applications, including medical imaging, disease diagnosis, and medication discovery, is a major driving force in this industry. Furthermore, the usage of various sensors and gadgets to present or monitor a patient's health state in real-time promotes market development.
Global Artificial Intelligence Diagnostic Market - Regional Insights
Geographically, the global artificial intelligence diagnostic market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America holds the largest market share owing to the high adoption of advanced technology such as AI in healthcare. The high concentration of major AI market players in this region also accelerates the research and development activities, which further contributes to the market growth in this region. However, The Asia Pacific is predicted to be the most profitable region with a substantial growth rate during the forecast period. What’s more, the government is also undertaking various initiatives for the adoption of AI-based diagnostic technologies by healthcare providers and other healthcare organizations in North America.
Competitive Landscape
The leading market players of the global artificial intelligence diagnostic market are IBM Corporation, Google, Inc., NVIDIA Corporation, Microsoft Corporation, ICarbonX, Next IT Corp., CloudMex Inc., Carescore, Atomwise Inc., Zephyr Health Inc., Deep Genomics Inc., Medtronic PLC., Koninklijke Philips N.V., Oncora Medical, Inc., Zebra Medical Vision, Riverain Technologies, Siemens Healthcare GmbH, Neural Analytics, Imagen Technologies, and other prominent players.
The adoption of competitive strategies like partnerships, mergers, collaboration, joint ventures, etc. is very common in this market. Moreover, to expand their product portfolio and market reach, the companies have been continually focusing and investing in technological advancements and research and development, thereby innovating their solutions.
Recent Developments
- In June 2021, Epredia, a US-based precision cancer diagnostics solution provider, and Aiforia, a Finland-based software company announced to have entered into a commercial distribution agreement. This agreement makes Epredia the global dealer of Aiforia's preclinical and clinical pathology tools. Aiforia delivers artificial intelligence image analysis tools and services to scientists, pathologists, and healthcare professionals.
- In May 2021, Quest Diagnostics, a US-based clinical laboratory, announced its collaboration with Paige, a US-based digital diagnostics company. This collaboration is aimed towards developing software products for accelerating disease diagnosis.
Scope of the Report
Attributes | Details |
Years Considered | Historical data – 2017-2020 |
Base Year – 2020 | |
Forecast – 2021 – 2027 | |
Facts Covered | Revenue in USD Million |
Market Coverage | North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa |
Product Service/Segmentation | By Solution, By Technology, By Application, By End-User, By Region |
Key Players | IBM Corporation, Google, Inc., NVIDIA Corporation, Microsoft Corporation, ICarbonX, Next IT Corp., CloudMex Inc., Carescore, Atomwise Inc., Zephyr Health Inc., Deep Genomics Inc., Medtronic PLC., Koninklijke Philips N.V., Oncora Medical, Inc., Zebra Medical Vision, Riverain Technologies, Siemens Healthcare GmbH, Neural Analytics, Imagen Technologies, and other prominent players. |
By Solution
- Hardware
- Software & Services
By Technology
- Speech Recognition
- Querying Method
- Natural Language Processing
- Machine Learning
- Context-Aware Processing
By Application
- Imaging & Diagnostics
- Drug Discovery
- Lifestyle Management & Monitoring
- Emergency Room & Hospital Management
- Insights & Risk Analytics
- Wearables
- Virtual Assistants
- Others
By End-User
- Hospitals
- Pharmaceutical Organizations
- Diagnostic Centers
- Clinics
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary and Secondary Sources
2.2. Quantitative Research
2.2.1. Primary and Secondary Sources
2.3. Breakdown of Primary Research Respondents
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Industry Participants
2.5. Key Questionnaire asked during Primary Interviews
2.6. Key Primary Responses
2.7. Market Size Estimation
2.8. Assumption for the Study
2.9. Market Breakdown & Data Triangulation
3. Executive Summary
4. Global Artificial Intelligence Diagnostic Market – Industry Insights
4.1. DROC Analysis
4.1.1. Growth Drivers
4.1.2. Restraints
4.1.3. Opportunity
4.1.4. Challenges
4.2. Recent Developments / Technical Landscape
4.3. Regulatory Framework
4.4. Porter’s Five Forces Analysis
4.5. Value Chain Analysis
4.6. Strategic Outlook
5. Global Artificial Intelligence Diagnostic Market Overview
5.1. Market Estimates & Forecast by Value, 2017-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1.1. Hardware
5.2.1.2. Software & Services
5.2.2. By Technology
5.2.2.1. Speech Recognition
5.2.2.2. Querying Method
5.2.2.3. Natural Language Processing
5.2.2.4. Machine Learning
5.2.2.5. Context-Aware Processing
5.2.3. By Application
5.2.3.1. Imaging & Diagnostics
5.2.3.2. Drug Discovery
5.2.3.3. Lifestyle Management & Monitoring
5.2.3.4. Emergency Room & Hospital Management
5.2.3.5. Insights & Risk Analytics
5.2.3.6. Wearables
5.2.3.7. Virtual Assistants
5.2.3.8. Others
5.2.4. By End-User
5.2.4.1. Hospitals
5.2.4.2. Pharmaceutical Organizations
5.2.4.3. Diagnostic Centers
5.2.4.4. Clinics
5.2.5. By Region
5.2.5.1. North America
5.2.5.2. Europe
5.2.5.3. Asia-Pacific (APAC)
5.2.5.4. Latin America (LATAM)
5.2.5.5. Middle-East & Africa (MEA)
6. North America Artificial Intelligence Diagnostic Market Overview
6.1. Market Size and Forecast
6.1.1. By Value (USD Million), 2017-2027
6.2. Market Share and Forecast
6.2.1. By Solution
6.2.2. By Technology
6.2.3. By Application
6.2.4. By End-User
6.2.5. By Country
6.2.5.1. U.S.
6.2.5.2. Canada
7. Europe Artificial Intelligence Diagnostic Market Overview
7.1. Market Size and Forecast
7.1.1. By Value (USD Million), 2017-2027
7.2. Market Share and Forecast
7.2.1. By Solution
7.2.2. By Technology
7.2.3. By Application
7.2.4. By End-User
7.2.5. By Country
7.2.5.1. Germany
7.2.5.2. U.K.
7.2.5.3. France
7.2.5.4. Italy
7.2.5.5. Spain
7.2.5.6. Russia
7.2.5.7. Netherlands
7.2.5.8. Rest of Europe
8. APAC Artificial Intelligence Diagnostic Market Overview
8.1. Market Size and Forecast
8.1.1. By Value (USD Million), 2017-2027
8.2. Market Share and Forecast
8.2.1. By Solution
8.2.2. By Technology
8.2.3. By Application
8.2.4. By End-User
8.2.5. By Country
8.2.5.1. China
8.2.5.2. India
8.2.5.3. Japan
8.2.5.4. South Korea
8.2.5.5. Rest of APAC
9. LATAM Artificial Intelligence Diagnostic Market Overview
9.1. Market Size and Forecast
9.1.1. By Value (USD Million), 2017-2027
9.2. Market Share and Forecast
9.2.1. By Solution
9.2.2. By Technology
9.2.3. By Application
9.2.4. By End-User
9.2.5. By Country
9.2.5.1. Mexico
9.2.5.2. Brazil
9.2.5.3. Rest of LATAM
10.MEA Artificial Intelligence Diagnostic Market Overview
10.1. Market Size and Forecast
10.1.1. By Value (USD Million), 2017-2027
10.2. Market Share and Forecast
10.2.1. By Solution
10.2.2. By Technology
10.2.3. By Application
10.2.4. By End-User
10.2.5. By Country
10.2.5.1. Saudi Arabia
10.2.5.2. UAE
10.2.5.3. South Africa
10.2.5.4. Rest of Europe
11.Competitive Landscape
11.1.1. List of Key Producers and Their Offerings
11.1.2. Market Share / Ranking Analysis (2020)
11.1.3. Competitive Benchmarking, By Operating Parameters
12.COVID-19 Impact
12.1. Future Impact
12.2. Key Developments during COVID-19
12.3. Impact on Market
12.3.1. Different Scenario
12.3.2. Impact on Companies
12.4. Regional Impact
13.Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
13.1. IBM Corporation
13.2. Google, Inc.
13.3. NVIDIA Corporation
13.4. Microsoft Corporation
13.5. ICarbonX
13.6. Next IT Corp.
13.7. CloudMex Inc.
13.8. Carescore
13.9. Atomwise Inc.
13.10. Zephyr Health Inc.
13.11. Deep Genomics Inc.
13.12. Medtronic Plc.
13.13. Koninkiljke Philips N.V.
13.14. Oncora Medical, Inc.
13.15. Zebra Medical Vision
13.16. Riverain Technologies
13.17. Siemens Healthcare GmbH
13.18. Neural Analytics
13.19. Imagen Technologies
13.20. Other Prominent Players
14.Key Strategic Recommendations
* Financial information of non-listed Companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.
List of Figures
Fig: Global Artificial Intelligence Diagnostic Segmentation
Fig: Global Artificial Intelligence Diagnostic Market Value Chain Analysis,
Fig: Company Market Share Analysis, 2020
Fig: Global Artificial Intelligence Diagnostic Market Size, By Value (USD Million), 2017-2027
Fig: Global Artificial Intelligence Diagnostic Market Share (%), By Solution, By Value, 2017-2027
Fig: Global Artificial Intelligence Diagnostic Market Share (%), By Technology, By Value, 2017-2027
Fig: Global Artificial Intelligence Diagnostic Market Share (%), By Application, By Value, 2017-2027
Fig: Global Artificial Intelligence Diagnostic Market Share (%), By End-User, By Value, 2017-2027
Fig: Global Artificial Intelligence Diagnostic Market Share (%), By Country, By Value, 2017-2027
Fig: North America Artificial Intelligence Diagnostic Market Size, By Value (USD Million), 2017-2027
Fig: North America Artificial Intelligence Diagnostic Market Share (%), By Solution, By Value, 2017-2027
Fig: North America Artificial Intelligence Diagnostic Market Share (%), By Technology, By Value, 2017-2027
Fig: North America Artificial Intelligence Diagnostic Market Share (%), By Application, By Value, 2017-2027
Fig: North America Artificial Intelligence Diagnostic Market Share (%), By End-User, By Value, 2017-2027
Fig: North America Artificial Intelligence Diagnostic Market Share (%), By Country, By Value, 2017-2027
Fig: Europe Artificial Intelligence Diagnostic Market Size, By Value (USD Million), 2017-2027
Fig: Europe Artificial Intelligence Diagnostic Market Share (%), By Solution, By Value, 2017-2027
Fig: Europe Artificial Intelligence Diagnostic Market Share (%), By Technology, By Value, 2017-2027
Fig: Europe Artificial Intelligence Diagnostic Market Share (%), By Application, By Value, 2017-2027
Fig: Europe Artificial Intelligence Diagnostic Market Share (%), by End-User, By Value, 2017-2027
Fig: Europe Artificial Intelligence Diagnostic Market Share (%), By Country, By Value, 2017-2027
Fig: Asia-Pacific Artificial Intelligence Diagnostic Market Size, By Value (USD Million), 2017-2027
Fig: Asia-Pacific Artificial Intelligence Diagnostic Market Share (%), By Solution, By Value, 2017-2027
Fig: Asia-Pacific Artificial Intelligence Diagnostic Market Share (%), By Technology, By Value, 2017-2027
Fig: Asia-Pacific Artificial Intelligence Diagnostic Market Share (%), By Application, By Value, 2017-2027
Fig: Asia-Pacific Artificial Intelligence Diagnostic Market Share (%), By End-User, By Value, 2017-2027
Fig: Asia-Pacific Artificial Intelligence Diagnostic Market Share (%), By Country, By Value, 2017-2027
Fig: Latin America Artificial Intelligence Diagnostic Market Size, By Value (USD Million), 2017-2027
Fig: Latin America Artificial Intelligence Diagnostic Market Share (%), By Solution, By Value, 2017-2027
Fig: Latin America Artificial Intelligence Diagnostic Market Share (%), By Technology, By Value, 2017-2027
Fig: Latin America Artificial Intelligence Diagnostic Market Share (%), By Application, By Value, 2017-2027
Fig: Latin America Artificial Intelligence Diagnostic Market Share (%), By End-User, By Value, 2017-2027
Fig: Latin America Artificial Intelligence Diagnostic Market Share (%), By Country, By Value, 2017-2027
Fig: Middle East & Africa Artificial Intelligence Diagnostic Market Size, By Value (USD Million), 2017-2027
Fig: Middle East & Africa Artificial Intelligence Diagnostic Market Share (%), By Solution, By Value, 2017-2027
Fig: Middle East & Africa Artificial Intelligence Diagnostic Market Share (%), By Technology, By Value, 2017-2027
Fig: Middle East & Africa Artificial Intelligence Diagnostic Market Share (%), By Application, By Value, 2017-2027
Fig: Middle East & Africa Artificial Intelligence Diagnostic Market Share (%), By End-User, By Value, 2017-2027
Fig: Middle East & Africa Artificial Intelligence Diagnostic Market Share (%), By Region, By Value, 2017-2027
List of Tables
Table: Global Artificial Intelligence Diagnostic Market Size, By Solution, By Value, 2017-2027
Table: Global Artificial Intelligence Diagnostic Market Size, By Technology, By Value (USD Million), 2017-2027
Table: Global Artificial Intelligence Diagnostic Market Size, By Application, By Value (USD Million), 2017-2027
Table: Global Artificial Intelligence Diagnostic Market Size, By End-User, By Value (USD Million), 2017-2027
Table: Global Artificial Intelligence Diagnostic Market Size, By Region, By Value (USD Million), 2017-2027
Table: North America Artificial Intelligence Diagnostic Market Size, By Solution, By Value (USD Million), 2017-2027
Table: North America Artificial Intelligence Diagnostic Market Size, By Technology, By Value (USD Million), 2017-2027
Table: North America Artificial Intelligence Diagnostic Market Size, By Application, By Value (USD Million), 2017-2027
Table: North America Artificial Intelligence Diagnostic Market Size, By End-User, By Value (USD Million), 2017-2027,
Table: Europe Artificial Intelligence Diagnostic Market Size, By Solution, By Value (USD Million), 2017-2027
Table: Europe Artificial Intelligence Diagnostic Market Size, By Technology, By Value (USD Million), 2017-2027
Table: Europe Artificial Intelligence Diagnostic Market Size, By Application, By Value (USD Million), 2017-2027
Table: Europe Artificial Intelligence Diagnostic Market Size, By End-User, By Value (USD Million), 2017-2027
Table: the Asia-Pacific Artificial Intelligence Diagnostic Market Size, By Solution, By Value (USD Million), 2017-2027
Table: the Asia-Pacific Artificial Intelligence Diagnostic Market Size, By Technology, By Value (USD Million), 2017-2027
Table: the Asia-Pacific Artificial Intelligence Diagnostic Market Size, By Application, By Value (USD Million), 2017-2027
Table: the Asia-Pacific Artificial Intelligence Diagnostic Market Size, By End-User, By Value (USD Million), 2017-2027
Table: Latin America Artificial Intelligence Diagnostic Market Size, By Solution, By Value (USD Million), 2017-2027
Table: Latin America Artificial Intelligence Diagnostic Market Size, By Technology, By Value (USD Million), 2017-2027
Table: Latin America Artificial Intelligence Diagnostic Market Size, By Application, By Value (USD Million), 2017-2027
Table: Latin America Artificial Intelligence Diagnostic Market Size, By End-User, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Artificial Intelligence Diagnostic Market Size, By Solution, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Artificial Intelligence Diagnostic Market Size, By Technology, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Artificial Intelligence Diagnostic Market Size, By Application, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Artificial Intelligence Diagnostic Market Size, By End-User, By Value (USD Million), 2017-2027
Table: IBM Corporation Financial Analysis
Table: IBM Corporation Business Overview
Table: Google, Inc. Financial Analysis
Table: Google, Inc. Business Overview
Table: NVIDIA Corporation Financial Analysis
Table: NVIDIA Corporation Business Overview
Table: Microsoft Corporation Financial Analysis
Table: Microsoft Corporation Business Overview
Table: ICarbonX Financial Analysis
Table: ICarbonX Business Overview
Table: Next IT Corp. Financial Analysis
Table: Next IT Corp. Business Overview
Table: CloudMex Inc. Financial Analysis
Table: CloudMex Inc. Business Overview
Table: Carescore Financial Analysis
Table: Carescore Business Overview
Table: Atomwise Inc. Financial Analysis
Table: Atomwise Inc. Business Overview
Table: Zephyr Health Inc. Financial Analysis
Table: Zephyr Health Inc. Business Overview
Table: Deep Genomics Inc. Financial Analysis
Table: Deep Genomics Inc. Financial Analysis
Table: Medtronic PLC. Financial Analysis
Table: Medtronic PLC. Business Overview
Table: Koninklijke Philips N.V. Financial Analysis
Table: Koninklijke Philips N.V. Business Overview
Table: Oncora Medical, Inc. Financial Analysis
Table: Oncora Medical, Inc. Business Overview
Table: Zebra Medical Vision Financial Analysis
Table: Zebra Medical Vision Business Overview
Table: Riverain Technologies Financial Analysis
Table: Riverain Technologies Business Overview
Table: Siemens Healthcare GmbH Financial Analysis
Table: Siemens Healthcare GmbH Business Overview
Table: Neural Analytics Financial Analysis
Table: Neural Analytics Business Overview
Table: Imagen Technologies Financial Analysis
Table: Imagen Technologies Business Overview
Market Segmentation
By Solution
- Hardware
- Software & Services
By Technology
- Speech Recognition
- Querying Method
- Natural Language Processing
- Machine Learning
- Context-Aware Processing
By Application
- Imaging & Diagnostics
- Drug Discovery
- Lifestyle Management & Monitoring
- Emergency Room & Hospital Management
- Insights & Risk Analytics
- Wearables
- Virtual Assistants
- Others
By End-User
- Hospitals
- Pharmaceutical Organizations
- Diagnostic Centers
- Clinics
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
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