Artificial Intelligence in Healthcare Diagnosis Market by Component, Technology, Application, End-user

Description

List of Tables

The Artificial Intelligence in Healthcare Diagnosis Market was valued at USD 2.10 billion in 2023, expected to reach USD 2.53 billion in 2024, and is projected to grow at a CAGR of 21.23%, to USD 8.08 billion by 2030.

The scope of artificial intelligence (AI) in healthcare diagnosis encompasses the use of algorithms and software to approximate human cognition in the analysis, interpretation, and comprehension of complicated medical data. AI is necessary in this field due to its potential to substantially improve the speed and accuracy of diagnostic processes, reduce medical errors, and streamline operations in hospitals and clinics. This technology finds applications in imaging analysis, personalized medicine, predictive analytics, and automating routine clinical tasks. End-users include hospitals, diagnostic laboratories, and research institutions, aiming for increased operational efficiency and enhanced patient outcomes.

KEY MARKET STATISTICS
Base Year [2023]	USD 2.10 billion
Estimated Year [2024]	USD 2.53 billion
Forecast Year [2030]	USD 8.08 billion
CAGR (%)	21.23%

Market growth is driven by factors such as the rising prevalence of chronic diseases, increasing healthcare data, and advancements in AI technology. The growing investment by healthcare providers to integrate AI-driven tools to leverage big data for intelligent decision-making is also significant. Potential opportunities exist in partnerships between tech companies and healthcare providers to develop custom AI solutions. Investment in cloud-based AI solutions and expanding AI capabilities in emerging markets could provide substantial business value. A recommendation to seize these opportunities includes focusing on collaborative innovation and developing scalable AI solutions that address data privacy concerns.

However, the market faces limitations such as the high cost of AI integration, data privacy issues, and the need for standardized regulations. Challenges include the requirement for large datasets to train AI models effectively and the existing skills gap in AI implementation. To navigate these challenges, businesses can invest in training programs and collaborative research initiatives. The best areas for innovation and research include developing AI systems for rare diseases diagnosis, advancing explainable AI for transparent healthcare decision-making, and creating interoperable systems that facilitate seamless data exchange across platforms. The market is competitive, marked by rapid technological advancements and evolving consumer expectations for more personalized and efficient diagnostic care, demanding constant innovation and an agile approach to maintaining market relevance.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Artificial Intelligence in Healthcare Diagnosis Market

The Artificial Intelligence in Healthcare Diagnosis Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising adoption of artificial intelligence in healthcare research areas
- Increasing adoption of advanced disease diagnostic solutions
- Growing potential for AI-based tools and software for the geriatric population
Market Restraints
- Shortage of trained professionals and expertise in artificial intelligence for the medical industry
Market Opportunities
- Accelerating investments by government and private sectors in artificial intelligence
- Proliferation in government approvals for AI-based healthcare diagnosis tools
Market Challenges
- Concern regarding medical data privacy and the guidelines for regulatory compliance

Porter's Five Forces: A Strategic Tool for Navigating the Artificial Intelligence in Healthcare Diagnosis Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Artificial Intelligence in Healthcare Diagnosis Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Artificial Intelligence in Healthcare Diagnosis Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Artificial Intelligence in Healthcare Diagnosis Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Artificial Intelligence in Healthcare Diagnosis Market

A detailed market share analysis in the Artificial Intelligence in Healthcare Diagnosis Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Artificial Intelligence in Healthcare Diagnosis Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Artificial Intelligence in Healthcare Diagnosis Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Artificial Intelligence in Healthcare Diagnosis Market

A strategic analysis of the Artificial Intelligence in Healthcare Diagnosis Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Artificial Intelligence in Healthcare Diagnosis Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Advanced Micro Devices, Inc, Aidence B.V., Aidoc Medical Ltd., Amazon Web Services, Inc., Apixo, Inc., Appinventiv Technologies Pvt. Ltd., Arterys Inc., Butterfly Network, Inc., Caption Health, Inc., CloudMedx Inc., Day Zero Diagnostics Inc., Digital Diagnostics Inc., EchoNous Inc., Enlitic, Inc, GE HealthCare Technologies Inc., Google LLC, HeartFlow, Inc., Intel Corporation, International Business Machines Corporation, Koninkliike Philips N.V., Lunit Inc., Medtronic PLC, Microsoft Corporation, Nano-X Imaging Ltd., NovaSignal Corporation, Nvidia Corporation, Prognos Health Inc., Siemens Healthcare Private Limited, SolutionChamps Technologies Pvt. Ltd., and Sophia Genetics S A.

Market Segmentation & Coverage

This research report categorizes the Artificial Intelligence in Healthcare Diagnosis Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Component, market is studied across Hardware, Services, and Software.
Based on Technology, market is studied across Computer Vision, Context-Aware Computing, Machine Learning, and Natural Language Processing.
Based on Application, market is studied across Cardiology, Chest & Lung Scanning, Neurology, Oncology, Pathology, and Radiology.
Based on End-user, market is studied across Academic Institutions & Research Center, Diagnostic Center, and Hospitals.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-4103B31E04F5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising adoption of artificial intelligence in healthcare research areas
  - 5.1.1.2. Increasing adoption of advanced disease diagnostic solutions
  - 5.1.1.3. Growing potential for AI-based tools and software for the geriatric population
- 5.1.2. Restraints
  - 5.1.2.1. Shortage of trained professionals and expertise in artificial intelligence for the medical industry
- 5.1.3. Opportunities
  - 5.1.3.1. Accelerating investments by government and private sectors in artificial intelligence
  - 5.1.3.2. Proliferation in government approvals for AI-based healthcare diagnosis tools
- 5.1.4. Challenges
  - 5.1.4.1. Concern regarding medical data privacy and the guidelines for regulatory compliance
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Artificial Intelligence in Healthcare Diagnosis Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software

7. Artificial Intelligence in Healthcare Diagnosis Market, by Technology

7.1. Introduction
7.2. Computer Vision
7.3. Context-Aware Computing
7.4. Machine Learning
7.5. Natural Language Processing

8. Artificial Intelligence in Healthcare Diagnosis Market, by Application

8.1. Introduction
8.2. Cardiology
8.3. Chest & Lung Scanning
8.4. Neurology
8.5. Oncology
8.6. Pathology
8.7. Radiology

9. Artificial Intelligence in Healthcare Diagnosis Market, by End-user

9.1. Introduction
9.2. Academic Institutions & Research Center
9.3. Diagnostic Center
9.4. Hospitals

10. Americas Artificial Intelligence in Healthcare Diagnosis Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Artificial Intelligence in Healthcare Diagnosis Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Artificial Intelligence in Healthcare Diagnosis Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Vuno Gets US Patent for AI Medical Image Analysis Technology
- 13.3.2. CLIRNET Launches India's First AI-Powered Doctor's Assistant (AiDA)
- 13.3.3. UK Government Invests GBP 16 Million in AI Healthcare Technologies to Help Speed Up Diagnostics
- 13.3.4. Philips Highlights AI-Powered Integrated Diagnostics at ECR
- 13.3.5. Microsoft Signs First AI Healthcare Partnership in Vietnam
- 13.3.6. Bayer Acquires British Medical Imaging AI Developer Blackford
- 13.3.7. AI Medical Imaging Startup Qritive Raises USD 7.5 Million in Latest Funding
- 13.3.8. Mayo Clinic Expands Artificial Intelligence-Enabled Diagnostics Partnership
- 13.3.9. Beckman Coulter Acquires Artificial Intelligence Company Providing Evidence-Based Clinical Decision Support for Emergency Departments
- 13.3.10. RadNet Receives FDA Clearance for Cancer Detection Algorithms
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Accenture PLC
2. Advanced Micro Devices, Inc
3. Aidence B.V.
4. Aidoc Medical Ltd.
5. Amazon Web Services, Inc.
6. Apixo, Inc.
7. Appinventiv Technologies Pvt. Ltd.
8. Arterys Inc.
9. Butterfly Network, Inc.
10. Caption Health, Inc.
11. CloudMedx Inc.
12. Day Zero Diagnostics Inc.
13. Digital Diagnostics Inc.
14. EchoNous Inc.
15. Enlitic, Inc
16. GE HealthCare Technologies Inc.
17. Google LLC
18. HeartFlow, Inc.
19. Intel Corporation
20. International Business Machines Corporation
21. Koninkliike Philips N.V.
22. Lunit Inc.
23. Medtronic PLC
24. Microsoft Corporation
25. Nano-X Imaging Ltd.
26. NovaSignal Corporation
27. Nvidia Corporation
28. Prognos Health Inc.
29. Siemens Healthcare Private Limited
30. SolutionChamps Technologies Pvt. Ltd.
31. Sophia Genetics S A