The artificial intelligence in diagnostics market size was calculated at USD 1.61 billion in 2024 and is projected to hit around USD 10.28 billion by 2034 with a CAGR of 20.37%.

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Key Insights

• North America dominated the market in 2024 with a 58% revenue share.
• The software component made up 46% of the total revenue during the year.
• More than 25% of the revenue share was attributed to the neurology diagnosis segment in 2024.

Market Scope

Market Dynamics

Market Drivers

Advancements in artificial intelligence and deep learning technologies have significantly transformed the diagnostics industry. AI-powered diagnostic tools improve accuracy, reduce diagnostic turnaround time, and help detect diseases at an early stage.

The increasing burden of chronic illnesses such as cancer, diabetes, and cardiovascular diseases has further fueled the need for AI-assisted diagnostics. Additionally, AI helps reduce healthcare costs by minimizing the need for unnecessary tests and optimizing hospital workflows.

Market Opportunities

The increasing availability of big data in healthcare presents immense opportunities for AI-powered diagnostics. AI’s ability to analyze complex datasets, detect patterns, and provide real-time insights enhances decision-making in clinical settings.

Collaborations between AI companies and healthcare providers are driving innovation in diagnostic imaging and pathology. Moreover, AI’s role in predictive analytics and patient monitoring is expected to expand, opening new avenues for market growth.

Market Challenges

Despite the growing adoption of AI in diagnostics, challenges such as algorithm bias and limited generalizability of AI models remain concerns. Many AI algorithms are trained on specific datasets, which may not be representative of diverse patient populations, leading to inaccurate predictions.

Additionally, high costs associated with AI implementation and maintenance create barriers to widespread adoption. Resistance from healthcare professionals due to concerns about job displacement also poses a challenge.

Regional Insights

The artificial intelligence in diagnostics market is led by North America, driven by strong technological infrastructure and significant investments in AI research. Europe follows, with regulatory agencies actively working on AI adoption in healthcare.

The Asia-Pacific region is emerging as a major market, with increasing AI research, government support, and growing awareness of AI-driven healthcare solutions.

Artificial Intelligence in Diagnostics Market Companies

• Siemens Healthcare GmbH
• GE Healthcare
• Aidoc
• Imagen Technologies
• AliveCor
• Zebra Medical Vision
• Vuno Inc.
• IDx Technologies Inc.
• Neural Analytics
• Riverain Technologies

Recent Developments

• In Dec 2024, Lunit, a leading provider for AI-driven solution in cancer diagnostics and therapeutics declared the Go-Live of its collaboration with BreastScreen New South Wales (BSNSW) which is the world’s first AI integrated technology program for cancer screening.
• In July 2024, Microsoft Corp., announced the collaborations with a leading academic medical systems Mass General Brigham and the University of Wisconsin School of Medicine and Public Health for transforming medical imaging for improved health outcomes with integration of Microsoft Azure AI platform in radiology applications.
• In Sep 2024, Indian startup Qure.AI received $65 million from investors in a funding led by Lightspeed Venture Partners and 360 ONE Asset Management. The funds will be used by the startup for developing products powered with AI for disease detection.
• In March 2024, Microsoft announced its collaboration with NVIDIA to bring together the universal, secure and advanced computing abilities of Microsoft Azure with NVIDIA DGX Cloud and the NVIDIA Clara chain of computing platforms, software to accelerate the innovation and improvise patient care by helping healthcare and life sciences organizations. With use of their cutting-edge AI and advanced computing platforms combined with capacity of the cloud, they aim to enhance medical image-based diagnostic technology.

Segments Covered in the Report

By Component

• Hardware
• Software
• Services

By Diagnosis Type

• Radiology
• Pathology
• Cardiology
• Oncology
• Neurology
• Chest and Lung
• Others

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Middle East & Africa
• Latin America

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