PUBLISHER: Allied Market Research | PRODUCT CODE: 1566932
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566932
AI Medical Diagnosis App Market
The AI medical diagnosis app market was valued at $0.9 billion in 2023 and is projected to reach $5.2 billion by 2033, growing at a CAGR of 19.1% from 2024 to 2033.
An AI medical diagnosis app is a software which assists in the diagnosis of medical conditions or provision of medical advice through the utilization of AI and machine learning algorithms. These apps analyze the data and patient history to generate potential diagnoses and offer recommendations. The key attributes of the diagnosis apps include offering personalized solutions for each patient and aid healthcare institutions in providing remote monitoring to their patients.
With increasing requirement for advanced healthcare in remote locations and underserved regions, the demand for AI medical diagnosis app is rising significantly. Furthermore, the shortage of proficient doctors and healthcare providers across the globe is driving the growth of the market as the app mitigates the load by reducing waiting times through the provision of online consultations. To enhance the efficacy and promote telemedicine, developers are designing highly user-friendly applications, in which patients are able to record their disease conditions or body vital. Such apps are fostering the trend of real-time diagnosis and helping the healthcare providers take instant actions.
However, the accuracy of the apps is not entirely reliable, thereby hampering the growth of the AI medical diagnosis app market. In addition, compliance with the ethical and data privacy standards is an intricate and time-consuming process, which restraints market development. Different regulatory bodies such as Health Insurance Portability and Accountability Act in the U.S. and General Data Protection Regulation in Europe have imposed stringent guidelines regarding the collection, storage, and usage of patient data. As per the guidelines, access to patient data is limited to authorized personnel, which is subject to periodic audits to monitor and track the access.
Segment Review
The AI medical diagnosis app market is segmented into application, deployment model, end user, and region. On the basis of application, the market is divided into radiology, pathology, cardiology, dermatology, and other. As per deployment model, it is bifurcated into cloud-based and on-premises. Depending on end user, it is classified into hospitals, diagnostic centers, clinics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of application, the radiology segment dominates in the AI medical diagnosis app market.
As per deployment model, the cloud-based segment acquires a high share of the market.
Depending on end user, the hospitals segment is the highest shareholder of the AI medical diagnosis app market.
Region wise, North America is the highest revenue generator in the market.
Competition Analysis
The leading players operating in the global AI medical diagnosis app market include Microsoft NVIDIA Corporation, Merative Intel Corporation, Siemens Healthineers, GE HealthCare, Digital Diagnostics Inc., Advanced Micro Devices, Inc, InformAl, HeartFlow, Inc., Enlitic, Inc., icometrix, Aidence, and Butterfly Network, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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