AI in Medical Diagnostics: Global Markets

AI in Medical Diagnostics: Global Markets

  • January 2022 •
  • 240 pages •
  • Report ID: 6218417 •
  • Format: PDF
Report Scope:
The current report offers a detailed picture of the AI medical diagnostics market.

This report highlights the current and future market potential for AI medical diagnostics and provides a detailed analysis of the competitive environment, regulatory scenario, drivers, restraints, opportunities, and trends in the market. The report also covers market projections through 2026, as well as key market players.

This report discusses the AI medical diagnostics market and its various resources.It covers the overall AI medical diagnostics market including hardware, software and analytics, and services.

The report further analyzes the market based on application, providing an analysis of oncology, cardiology, neurology, orthopedic and others. In addition, the report also analyses various modalities of diagnostics imaging including MRI, CT scans, ultrasounds, X-rays and others (ECG, EEG, etc.). Furthermore, a complete regional analysis of the market is also studied in the report.

Based on geography, the market has been segmented into North America, Europe, Asia-Pacific and the Rest of the World (which includes Latin America, and the Middle East and Africa). Detailed analyses of major countries (the U.S., Canada, Germany, the U.K., France, Spain, Italy, Japan, China and India) are covered in regional segments. For market estimates, data has been provided for 2020 as the base year, with forecasts for 2021 through 2026. Estimated values are based on product manufacturers’ total revenues. Projected and forecasted revenue values are in constant U.S. dollars that have not been adjusted for inflation.

Report Includes:
- 68 data tables and 67 additional tables
- A brief general outlook of the global market for artificial intelligence (AI) in medical diagnostics
- Analyses of the global market trends, with historic data from 2019 and 2020, estimates for 2021, and projections of compound annual growth rates (CAGRs) through 2026
- Evaluation and forecast the global AI medical diagnostics market size, and corresponding market share analysis by component, medical specialty application area, end-user, treatment modality, and geographic region
- Technology assessment of the key drivers, restraints and opportunities that will shape the market for AI medical diagnostics over the next five years (2021 to 2026)
- Country specific data and market value analysis for the U.S., Canada, France, Germany, U.K., Italy, Spain, China, India, Japan and other emerging economies
- Identification of key artificial intelligence technologies and products with the greatest commercial potential, and relevant applications of various AI tools in medical diagnosis, breakthrough therapies and patient health management
- Highlights of the COVID-19 impact on the global AI medical diagnostics market as well as the overall MedTech industry
- Insight into recent industry structure, current competitive scenario, R&D activities, regulatory and legislative issues, and product launch strategies currently focused on AI technologies
- Patent activity and review of patent grants for AI medical diagnostics across each major category
- Understanding of the start-up ecosystem and competitor dashboard for key market participants in global AI medical diagnostics market
- Descriptive company profiles of the leading market players, including Canon Medical System Corp., GE Healthcare, Intel, IBM Corp., Nano-X Imaging Ltd., Siemens Healthcare GmbH, and Subtle Medical, Inc.

Summary:
Part of the world’s populace remains without access to vital health services, with many people driven into poverty each year by out-of-pocket health expenses.United Nations Conference on Trade and Development (UNCTAD) assess that from 2015 to 2030, over $REDACTED in private sector finance is necessary annually to meet health related Sustainable Development Goal objectives.

Substantial investments in health technology, including using artificial intelligence and digital health, are anticipated to contribute to connecting the health service gap in developing markets, provided the potential of new innovations with the adoption of advanced technology to reach underserved patients. Numerous health-tech inventors are incorporating AI into product/solutions, with initial examples demonstrating ability in enhancing diagnosis, decreasing costs, and enabling entry to remote health services.

Innovation in the healthcare industry has seen exponential growth and has integrated into our day-to-day lives, from the adoption of smart trackers to AI in disease diagnosis (algorithm-based diagnostics).With the rapid advancement in informatics pathology, molecular pathology, and digital pathology, the adoption of computation pathology in diseases diagnosis has increased the area of application from renal, neurology, pulmonary, gynecology, gastrointestinal.

Industry experts believe that initial phase of AI integration has already begun; in over a decade, AI in medical diagnostics has shown huge growth prospectus from oncology screening to brain mapping, to detecting strokes and mapping heart attacks.

The potential in AI has attracted various blue-chip companies to invest and harness AI technology in medical imaging and diagnosis.Analysis has shown that partnerships and collaborations are the key strategies being adopted by key market players and startups to sustain in the competitive market.

The big players are looking forward to investing in startups and sign off strategic partnerships to enhance their product lines of diagnostics devices.Siemens Healthcare GmbH is a key player and was granted the highest number of patents from 2019 to 2021, followed by GE Healthcare.

Apart from healthcare companies’ technocrats such as Intel, IBM and Oracle, Cisco is also looking into harnessing the power of AI in medical diagnostics.All such moves by market players are expected to boost huge growth potential in the market.

From 2021 to 2026, the global AI medical diagnostics market is expected to experience a CAGR of REDACTED; further is expected that the market is anticipated to increase with a growth rate of REDACTED during 2021-2030 according to BCC Research. In 2020, the global AI medical diagnostics market was valued at $REDACTED; that is expected to reach $REDACTED by 2026.

COVID-19 has enhanced the speed of evolution to digital health applications, including products and solutions that integrate AI. On a wide-ranging system level, it remains to be completed by all healthcare stakeholders to establish viable ecosystems that enable such innovations in reaching scale while constructively reaching the lowest-income patients in developing markets.