Artificial Intelligence In Diagnostics Market To Reach $5.44 Billion By 2030

Artificial Intelligence In Diagnostics Market Growth & Trends 

The global artificial intelligence in diagnostics market size is expected to reach USD 5.44 billion in 2030 and is expected to grow at a CAGR of 22.46% during the forecast period, according to a new report by Grand View Research, Inc. The growing demand for integrating AI-enabled algorithms in diagnostics to provide precise and accurate diagnosis at the earliest, which enhances clinical and operational outcomes, is driving the growth of this market. The rapidly growing cases of acute & chronic disorders across the globe are driving the demand for AI-based solutions since most of these ailments could be either prevented or delayed if diagnosed early and given appropriate treatments. The shortage of healthcare personnel is also supporting the product demand.

The emergence of startups, increasing funding opportunities, and growing public-private partnerships are also boosting market growth. Furthermore, medical technology is witnessing significant transitions & transformations and is rapidly adopting advanced AI-powered solutions to provide precise diagnosis, which enables care providers to design adequate treatment plans. Radiology and pathology are widely implementing AI-based algorithms & solutions and have provided proven results. In radiology, these solutions use information collected from multiple modalities to create image datasets to run data analysis, which could be used by the radiologist in delivering an accurate and timely diagnosis. Similarly, in pathology, these solutions could be integrated to run data analysis and provide accurate results.

The growing burden of chronic conditions across the global population is also driving the demand for AI-based diagnostic solutions. The key participants in AI in diagnostics market are focusing on the development of new, innovative products and the expansion of their business offerings to gain a competitive edge over others. In addition, many startups specializing in the development of advanced AI-based technologies are receiving favorable support and funding opportunities. This will also have a positive impact on the overall market growth. For instance, in September 2018, IDx received funding of USD 33 million from Optum Ventures and 8VC and the company will use this funding for the development of innovative AI-based solutions.

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Artificial Intelligence In Diagnostics Market Report Highlights

• Technological advancements driven by the increasing demand for early and accurate disease detection, improving patient outcomes, further results in significant innovations.

• Based on components, the software solutions segment dominated the market with a revenue share of 45.81% in 2024 and is expected to witness the fastest growth rate during the forecast period.

• Neurology had a significant revenue share of 24.09% in 2024.

• The oncology segment is expected to grow at the fastest CAGR during the forecast period.

• North America artificial intelligence in diagnostics market dominated in 2024 with the largest share of 54.74%.

Artificial Intelligence In Diagnostics Market Segmentation

Grand View Research has segmented the global artificial intelligence in diagnostics market report based on component, diagnosis, end use, and regions:

Artificial Intelligence In Diagnostics Component Outlook (Revenue, USD Million; 2018 - 2030)

• Software

• Hardware

• Services

Artificial Intelligence In Diagnostics Diagnosis Outlook (Revenue, USD Million; 2018 - 2030)

• Cardiology

• Oncology

• Pathology

• Radiology

• Chest and Lung

• Neurology

• Others

Artificial Intelligence In Diagnostics Regional Outlook (Revenue, USD Million; 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Norway

  • Denmark

  • Sweden

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players Of Artificial Intelligence In Diagnostics Market

• Siemens Healthineers

• Zebra Technologies Corp.

• Riverain Technologies

• Vuno, Inc.

• Aidoc

• NovaSignal Corporation (previously known as Neural Analytics, acquired by NeuraSignal, Inc.)

• Imagen

• Digital Diagnostics, Inc.

• GE Healthcare

• AliveCor Inc.

• F. Hoffmann-La Roche Ltd