Global Artificial Intelligence (AI) in Medical Diagnostics Market Analysis 2021

Global Artificial Intelligence (AI) in Medical Diagnostics Market Analysis 2021

The Global Artificial Intelligence (AI) in Medical Diagnostics market is expected to reach $7,820.56 million by 2027 growing at a CAGR of 48.2% from 2020 to 2027. Artificial intelligence (AI) uses algorithms and software to perform certain tasks without human intervention and instructions. AI represents the integration of technologies such as machine learning, natural language processing, reasoning, and perception. It is used in healthcare for approximation of human cognition as well as the analysis of complex medical and diagnostic imaging data.

Factors such as increasing demand for AI tools in the medical imaging field, growth in funding for AI-based start-ups and rising focus on reducing the workload of radiologists are driving the market growth. However, reluctance among medical practitioners to adopt AI-based technologies and lack of skilled AI workforce are restraining the market growth.

Based on component, the software segment is going to have a lucrative growth during the forecast period due to the development of AI-based software for diagnosis in healthcare and introduction of more advanced AI software in diagnostics involving a combination of multiple data sources such as MRI, CT, genomics and proteomics, and patient data that aids in successfully diagnosing disease and assessing its progression. The software solutions help healthcare providers gain a competitive edge despite the challenges of being short-staffed and facing increasing imaging scan volumes.

The key vendors mentioned are Zebra Medical Vision, Xilinx, Viz.ai Intelligent Care Coordinaation, Therapixel, Siemens Healthineers, Qure.ai, Digital Diagnostics, Prognos Health, Nvidia, Microsoft Corporation, Intel, Quibin, HeartFlow, GE Healthcare, Enlitic, Inform AI, Day Zero Diagnostics Inc., Butterfly Network, Aidence and IBM.

Components Covered:
• Software
• Services

Applications Covered:
• In Vitro Diagnostics
• In Vivo Diagnostics

End Users Covered:
• Diagnostic Laboratories
• Hospitals
• Diagnostic Imaging Centers

Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Questions Answered in this Report:
• How this market evolved since the year 2019
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analyzed during the forecast period