Key factors that are driving the market growth include growing demand for reducing diagnostic cost, improving patient care, reducing machine downtime coupled with growing demand for low-cost diagnostic techniques, effective & efficient report analysis, and quick diagnostic data generation.
Jersey City, New Jersey, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Artificial Intelligence (AI) In Diagnostics Market” By Component (Hardware, Software, Services), By Technology (Machine Learning, NLP, Context-Aware Computing, Computer Vision), By Diagnosis Type (Radiology, Oncology, Neurology & Cardiology, Chest & Lungs, Pathology), and By Geography. According to Verified Market Research, the Global Artificial Intelligence (AI) In Diagnostics Market size was valued at USD 532.22 Million in 2020 and is projected to reach USD 5371.11 Million by 2028, growing at a CAGR of 33.23% from 2021 to 2028.
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Global Artificial Intelligence (AI) In Diagnostics Market Overview
The rising number of government initiatives to encourage healthcare providers and other healthcare organizations to adopt AI-based diagnostic technologies and increasing investments by nonprofit organizations and private companies to achieve better information exchange improved clinical outcomes, and cost reductions are some of the major factors expected to drive the growth of the market for AI in diagnostics during the forecast period. Moreover, the high demand for e-diagnostic services in the healthcare sector as a result of increased government spending on healthcare is fueling market growth.
Furthermore, the growing demand for reducing diagnostic costs, improving patient care, and reducing machine downtime is one of the factors accelerating the usage of artificial intelligence in diagnostics. Moreover, growing demand for low-cost diagnostic techniques, effective and efficient report analysis, and quick diagnostic data generation are few other factors anticipated to drive the market for AI in diagnostics. AI-powered devices are used in emergency medical procedures resulting in reducing the time delay between trauma and diagnosis, thereby leading to rapid interventions and improved patient outcomes.
Key Developments in Artificial Intelligence (AI) In Diagnostics Market
In June 2021, GE Healthcare is collaborating with the American College of Cardiology (ACC) for the purpose of building a roadmap for Artificial Intelligence (AI) and digital technology in cardiology and developing new strategies for improved health outcomes.
The Consortium brings together academic, clinical, industry and technology partners and patient advocates, to collaborate in the digital transformation of healthcare and achieve trust in the development of clinical evidence and guidance.
The major players in the market are General Electric Co. (GE Healthcare), Siemens AG, Aidoc Medical Ltd., AliveCor Inc., Imagen Technologies Inc., VUNO Inc., IDx Technologies Inc., NovaSignal Corporation, Riverain Technologies LLC, and Zebra Medical Vision Ltd.
Verified Market Research has segmented the Global Artificial Intelligence (AI) In Diagnostics Market On the basis of Component, Technology, Diagnosis Type, and Geography.
Artificial Intelligence (AI) In Diagnostics Market, By Component
Artificial Intelligence (AI) In Diagnostics Market, By Technology
Artificial Intelligence (AI) In Diagnostics Market, By Diagnosis Type
Neurology & Cardiology
Chest & Lungs
Artificial Intelligence (AI) In Diagnostics Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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