The Artificial Intelligence in Medical Diagnostics Market

Artificial intelligence (AI) is defined as a creation of distinctive systems with the help of algorithms and software which can perform few tasks without any human intervention and instructions. Artificial intelligence includes the integration of various technologies such as natural language processing, machine learning, reasoning and perception. Artificial intelligence is used in diagnostic for approximation of human perception and analysis of compound medical and diagnostic imaging data. Artificial intelligence is majorly used in healthcare to analyze the connection between treatment techniques and patient outcomes. The increasing number of government initiatives to promote healthcare providers and other healthcare organizations to deploy AI-based diagnostic technologies and growing investments by nonprofit organizations and private companies to obtain better information exchange improved clinical outcomes and cost minimization are some of the primary factors projected to propel the growth of the market for AI in diagnostics over the forecast period. Furthermore, the huge demand for e-diagnostic services in the healthcare sector as a result of significant government spending on healthcare is driving the market growth. Moreover, the rising demand for minimized diagnostic costs, enhanced patient care, and curbing machine downtime is one of the key factors fueling the usage of artificial intelligence in diagnostics. Additionally, the surging demand for low-cost diagnostic techniques, effective and efficient report analysis and fast diagnostic data generation are some other factors estimated to propel the market for AI in medical diagnostics. AI-enabled devices are used in emergency medical procedures which are leading to reduced time delay between trauma and diagnosis, thereby resulting in rapid interventions and enhanced patient outcomes. On the other hand, the factors such as privacy concerns, cybersecurity, data integrity concerns, data ownership are likely to limit the market growth.

Furthermore, the emerging markets such as China, India and Brazil are projected to provide major growth opportunities for players operating in the AI in medical diagnostics market. This can significantly be ascribed to the increasing patient population in these countries. In addition, the healthcare sectors in developing economies, such as India and China, are rapidly increasing, resulting in the launching of new medical technologies with a special emphasis on advanced imaging equipment. All these factors, along with the rising population in these countries, are expected to increase the medical imaging data volumes in their respective healthcare systems. This offers a huge untapped development opportunity for AI-based solutions in developing countries.

The global Artificial Intelligence (Ai) in Medical Diagnostics Market is segregated on the basis of Component as Software, Hardware and Services. Based on Diagnosis Type the global Artificial Intelligence (Ai) in Medical Diagnostics Market is segmented in Cardiology, Oncology, Pathology, Radiology, Chest and Lung, Neurology and Others.

The global Artificial Intelligence (Ai) in Medical Diagnostics Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Artificial Intelligence (Ai) in Medical Diagnostics Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Aidoc Medical Ltd., Arterys Inc., Butterfly Network Inc., Caption Health, Inc., Enlitic, Inc. and others are among the major players in the global Artificial Intelligence (Ai) in Medical Diagnostics Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In 2020, NVIDIA acquired Mellanox Technologies, Ltd. for a transaction value of USD 7 billion. This acquisition integrated NVIDIA’s leading computing expertise with Mellanox’s high-performance networking technology to allow customers to attain higher performance, higher utilization of computing resources and less operating costs.
• In 2020, the Microsoft and Redmond made a partnership to provide a programming interface for reading imaging data and helping in the identification and treatment of diseases. 
• In 2019, ACR will install the NVIDIA Clara AI toolkit at the ACR AI Lab to allow 38,000 ACR members and other radiology professionals to build, share, locally adapt and validate AI algorithms, while also making sure that patient data stays secured at the local institution.

The global Artificial Intelligence (Ai) in Medical Diagnostics Market has been segmented as below:

Artificial Intelligence (Ai) in Medical Diagnostics Market, By Component

• Software
• Hardware
• Services

Artificial Intelligence (Ai) in Medical Diagnostics Market, By Diagnosis Type

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

Artificial Intelligence (Ai) in Medical Diagnostics Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Artificial Intelligence (Ai) in Medical Diagnostics Market, By Company

• Aidoc Medical Ltd.
• Arterys Inc.
• Butterfly Network Inc.
• Caption Health, Inc.
• Enlitic, Inc.
• Freenome Holdings, Inc.
• Gauss Surgical Inc.
• GE Healthcare Inc.
• General Vision, Inc.
• Google Inc.
• Health Fidelity, Inc.
• IDx Technologies Inc.
• Imagen Technologies, Inc.
• Intel Corporation
• Johnson & Johnson Services, Inc.
• MaxQ AI, Ltd
• Medtronic PLC
• Microsoft Corporation

The report covers the below scope:

• Global Artificial Intelligence (Ai) in Medical Diagnostics Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Artificial Intelligence (Ai) in Medical Diagnostics Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Artificial Intelligence (Ai) in Medical Diagnostics Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Artificial Intelligence (Ai) in Medical Diagnostics Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Artificial Intelligence (Ai) in Medical Diagnostics Market share. Major industry players with significant revenue share include Aidoc Medical Ltd., Arterys Inc., Butterfly Network Inc., Caption Health, Inc., Enlitic, Inc. and others.

Why to Buy this Report:

• Gain detailed insights on the Artificial Intelligence (Ai) in Medical Diagnostics industry trends
• Find complete analysis on the market status
• Identify the Artificial Intelligence (Ai) in Medical Diagnostics Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement

1.      Introduction

1.1.       Key Points

1.2.      Report Description

1.3.      Markets Covered

1.4.      Stakeholders

2.     Research Methodology

2.1.      Research Scope

2.2.     Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.           Secondary Research

2.2.2.2.          Primary Research

2.2.2.3.          Models for Estimation

2.3.     Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.     Executive Summary

4.    Market Overview

4.1.      Introduction

4.2.     Drivers

4.3.     Restraints

4.4.     Opportunities

4.5.     Challenges

5.     Artificial Intelligence (Ai) in Medical Diagnostics Market, By Component

5.1.      Key Points

5.2.  Software

5.3.  Hardware

5.4.  Services

6.    Artificial Intelligence (Ai) in Medical Diagnostics Market, By Diagnosis Type

6.1.      Key Points

6.2. Cardiology

6.3. Oncology

6.4. Pathology

6.5.  Radiology

6.6. Chest and Lung

6.7.  Neurology

6.8. Others

7.     Artificial Intelligence (Ai) in Medical Diagnostics Market, By Industry Vertical

7.1.      Key Points

7.2.  Automotive

7.3.  Semiconductor & Electronics

7.4.  Chemicals & Pharmaceuticals

7.5.  Food & Beverages

7.6.  Oil & Gas

7.7.  Aerospace & Defense

7.8.  Medical Devices

7.9.  Others

8.    Competitive Landscape

8.1.      Introduction

8.2.     Start-up companies- Artificial Intelligence (Ai) in Medical Diagnostics Market

8.3.     Recent Developments

8.3.1.     Mergers & Acquisitions

8.3.2.    New Product Developments

8.3.3.    Portfolio/Production Capacity Expansions

8.3.4.    Joint Ventures, Collaborations, Partnerships & Agreements

8.3.5.    Others

9.    Company Profile

9.1.  Aidoc Medical Ltd.

9.2. Arterys Inc.

9.3. Butterfly Network Inc.

9.4. Caption Health, Inc.

9.5.  Enlitic, Inc.

9.6. Freenome Holdings, Inc.

9.7.  Gauss Surgical Inc.

9.8. GE Healthcare Inc.

9.9. General Vision, Inc.

9.10.    Google Inc.

9.11.      Health Fidelity, Inc.

9.12.    IDx Technologies Inc.

9.13.     Imagen Technologies, Inc.

9.14.    Intel Corporation

9.15.     Johnson & Johnson Services, Inc.

9.16.    MaxQ AI, Ltd

9.17.     Medtronic PLC

9.18.    Microsoft Corporation