Artificial
intelligence (AI) is defined as a creation of distinctive systems with the help
of algorithms and software which can perform few tasks without any human
intervention and instructions. Artificial intelligence includes the integration
of various technologies such as natural language processing, machine learning, reasoning
and perception. Artificial intelligence is used in diagnostic for approximation
of human perception and analysis of compound medical and diagnostic imaging
data. Artificial intelligence is majorly used in
healthcare to analyze the connection between treatment techniques and patient
outcomes. The increasing number of government initiatives to promote
healthcare providers and other healthcare organizations to deploy AI-based
diagnostic technologies and growing investments by nonprofit organizations and
private companies to obtain better information exchange improved clinical
outcomes and cost minimization are some of the primary factors projected to propel
the growth of the market for AI in diagnostics over the forecast period. Furthermore,
the huge demand for e-diagnostic services in the healthcare sector as a result
of significant government spending on healthcare is driving the market growth. Moreover,
the rising demand for minimized diagnostic costs, enhanced patient care, and curbing
machine downtime is one of the key factors fueling the usage of artificial
intelligence in diagnostics. Additionally, the surging demand for low-cost
diagnostic techniques, effective and efficient report analysis and fast
diagnostic data generation are some other factors estimated to propel the
market for AI in medical diagnostics. AI-enabled devices are used in emergency
medical procedures which are leading to reduced time delay between trauma and
diagnosis, thereby resulting in rapid interventions and enhanced patient
outcomes. On the other hand, the factors such as privacy concerns, cybersecurity,
data integrity concerns, data ownership are likely to limit the market growth.
Furthermore, the emerging markets such as China, India and
Brazil are projected to provide major growth opportunities for players
operating in the AI in medical diagnostics market. This can significantly be ascribed
to the increasing patient population in these countries. In addition, the
healthcare sectors in developing economies, such as India and China, are
rapidly increasing, resulting in the launching of new medical technologies with
a special emphasis on advanced imaging equipment. All these factors, along with
the rising population in these countries, are expected to increase the medical
imaging data volumes in their respective healthcare systems. This offers a huge untapped
development opportunity for AI-based solutions in developing countries.
The
global Artificial Intelligence (Ai) in Medical Diagnostics Market is segregated
on the basis of Component as Software, Hardware and Services. Based on Diagnosis
Type the global Artificial Intelligence (Ai) in Medical Diagnostics Market is
segmented in Cardiology, Oncology, Pathology, Radiology, Chest and Lung, Neurology
and Others.
The
global Artificial Intelligence (Ai) in Medical Diagnostics Market report
provides geographic analysis covering regions, such as Europe, North America,
Asia Pacific, and Rest of The World. The Artificial Intelligence (Ai) in
Medical Diagnostics Market for each region is further segmented for major
countries including the U.S., Canada, Germany, the U.K., France, Italy, China,
India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Aidoc
Medical Ltd., Arterys Inc., Butterfly Network Inc., Caption Health, Inc., Enlitic,
Inc. and others are among the major players in the global Artificial
Intelligence (Ai) in Medical Diagnostics Market. The companies studied in terms
of product strategy and various n several growth and expansion strategies to
gain a competitive edge in the market. The major players not only follow value
chain integration with business operations in multiple stages of the value
chain.
- In 2020,
NVIDIA acquired Mellanox Technologies, Ltd. for a transaction value of USD 7
billion. This acquisition integrated NVIDIA’s leading computing expertise with
Mellanox’s high-performance networking technology to allow customers to attain
higher performance, higher utilization of computing resources and less
operating costs.
- In 2020, the
Microsoft and Redmond made a partnership to provide a programming interface for
reading imaging data and helping in the identification and treatment of
diseases.
- In 2019,
ACR will install the NVIDIA Clara AI toolkit at the ACR AI Lab to allow 38,000 ACR
members and other radiology professionals to build, share, locally adapt and
validate AI algorithms, while also making sure that patient data stays secured
at the local institution.
The global Artificial Intelligence (Ai) in Medical
Diagnostics Market has been segmented as below:
Artificial
Intelligence (Ai) in Medical Diagnostics Market, By Component
Artificial
Intelligence (Ai) in Medical Diagnostics Market, By Diagnosis Type
- Cardiology
- Oncology
- Pathology
- Radiology
- Chest and Lung
- Neurology
- Others
Artificial
Intelligence (Ai) in Medical Diagnostics Market, By Region
- Europe
- North America
- Asia Pacific
- Rest of The World
Artificial
Intelligence (Ai) in Medical Diagnostics Market, By Company
- Aidoc Medical Ltd.
- Arterys Inc.
- Butterfly Network Inc.
- Caption Health, Inc.
- Enlitic, Inc.
- Freenome Holdings, Inc.
- Gauss Surgical Inc.
- GE Healthcare Inc.
- General Vision, Inc.
- Google Inc.
- Health Fidelity, Inc.
- IDx Technologies Inc.
- Imagen Technologies, Inc.
- Intel Corporation
- Johnson & Johnson Services,
Inc.
- MaxQ AI, Ltd
- Medtronic PLC
- Microsoft Corporation
The
report covers the below scope:
- Global Artificial Intelligence (Ai)
in Medical Diagnostics Market sizes from 2020 to 2026, along with CAGR for
2020-2026
- Market size comparison for 2019 vs
2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to
2026
- Global Artificial Intelligence (Ai)
in Medical Diagnostics Market trends, covering comprehensive range of consumer
trends & manufacturer trends
- Value chain analysis covering
participants from raw material suppliers to the downstream buyer in the global Artificial
Intelligence (Ai) in Medical Diagnostics Market
- Major market opportunities and
challenges in forecast timeframe to be focused
- Competitive landscape with analysis
on competition pattern, portfolio comparisons, development trends and strategic
management
- Comprehensive company profiles of
the key industry players
The
years considered for the study are as follows:
- Base year - 2019
- Estimated year - 2019
- Projected year - 2020
- Forecast period - 2021 to 2026
Report
Scope:
The global Artificial Intelligence (Ai) in Medical
Diagnostics Market report scope includes detailed study covering underlying
factors influencing the industry trends. The report covers analysis on regional
and country level market dynamics. The scope also covers competitive overview
providing company market shares along with company profiles for major revenue
contributing companies. The report scope includes detailed competitive outlook
covering market shares and profiles key participants in the global Artificial
Intelligence (Ai) in Medical Diagnostics Market share. Major industry players
with significant revenue share include Aidoc Medical Ltd., Arterys Inc., Butterfly
Network Inc., Caption Health, Inc., Enlitic, Inc. and others.
Why to
Buy this Report:
- Gain detailed insights on the Artificial Intelligence (Ai) in Medical Diagnostics industry trends
- Find complete analysis on the
market status
- Identify the Artificial
Intelligence (Ai) in Medical Diagnostics Market opportunities and growth
segments
- Analyse competitive dynamics by
evaluating business segments & product portfolios
- Facilitate strategy planning and
industry dynamics to enhance decision making
Target
Audience:
- The report targeted towards the existing players in
the industry is as follows:
- Market Manufacturers/Service
Providers
- Market Wholesale/Traders
- Investment and Financial
Institutions
Free
and Paid Customization based on the requirement