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.  Research Framework

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.   By Solution

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