PUBLISHER: The Business Research Company | PRODUCT CODE: 1666350
PUBLISHER: The Business Research Company | PRODUCT CODE: 1666350
AI in medical diagnostics involves the application of artificial intelligence in the field of treatment and medical diagnostics. It is employed to analyze medical imaging data, including X-rays, MRIs, ultrasounds, CT scans, and DXAs, with the aim of assisting doctors in more precise and rapid disease discovery and diagnosis.
The primary components of AI in medical diagnostics encompass software and services. The software utilized in medical diagnostics can detect various indicators, such as the abnormal proliferation of molecules in cells that may signify a disease, through image processing. Technologies involved in this process include natural language processing, computer vision, machine learning, context-aware computing, and others. These technologies find applications in specialized diagnostic cases, such as brain and neurological, oncology, cardiac and vascular, chest and lung, obstetrics and gynecology, among others. They are applied through computer-aided detection, computer-aided diagnosis, quantitative analysis tools, and clinical decision support systems, and are utilized by hospitals, diagnostic imaging centers, diagnostic laboratories, and other healthcare entities.
The AI in medical diagnostics market research report is one of a series of new reports from The Business Research Company that provides AI in medical diagnostics market statistics, including the AI in medical diagnostics industry global market size, regional shares, competitors with an AI in medical diagnostics market share, detailed AI in medical diagnostics market segments, market trends, and opportunities, and any further data you may need to thrive in the AI in medical diagnostics industry. This AI in medical diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The AI in medical diagnostics market size has grown exponentially in recent years. It will grow from$1.92 billion in 2024 to $2.66 billion in 2025 at a compound annual growth rate (CAGR) of 38.6%. The growth in the historic period can be attributed to health consciousness, rising incidence of chronic diseases, expanding aging population, increased demand for natural products, expansion of functional foods and beverages
The AI in medical diagnostics market size is expected to see exponential growth in the next few years. It will grow to $10.9 billion in 2029 at a compound annual growth rate (CAGR) of 42.2%. The growth in the forecast period can be attributed to increasing focus on immune health, rising demand for plant-based products, expanding beauty and cosmetics industry, nutraceuticals and functional supplements market growth, global sustainable and ethical practices. Major trends in the forecast period include rising consumer awareness and demand for functional foods, expanding applications in nutraceuticals and dietary supplements, focus on natural and plant-based sources, innovations in extraction and processing technologies, health and wellness as a lifestyle.
The rising investment in healthcare is anticipated to drive the growth of the AI market in medical diagnostics in the future. Health expenditure refers to the share of total revenue allocated by both public and private sectors for healthcare services. This investment creates jobs for healthcare professionals, increases earnings for healthcare workers, boosts municipal tax revenues, and generates demand for related goods and services, thereby supporting the application of AI technology in healthcare. For example, the Canadian Institute for Health Information, a non-profit organization based in Canada, reported in November 2023 that total health expenditure is expected to reach $344 billion in 2023, marking a modest increase of 2.8% from the previous year. Thus, the growing investment in healthcare is a key factor driving the expansion of AI in the medical diagnostics market.
The rise in telehealth and telemedicine is expected to drive the growth of the AI market in medical diagnostics in the coming years. Telehealth involves using telecommunications technology to deliver a broad range of healthcare services and information remotely, while telemedicine focuses specifically on remote clinical consultations and healthcare delivery. AI enhances diagnostic efficiency in telehealth environments through remote patient monitoring, virtual consultations, and digital imaging analysis. It plays a crucial role in image interpretation, pathology analysis, and triage, ensuring accurate and timely assessments. Additionally, predictive analytics, integration with wearable devices, and scalable data management further strengthen AI capabilities, improving accessibility and patient outcomes in remote or underserved areas. For instance, a survey conducted by Rock Health, a U.S.-based digital health organization, in February 2023 revealed that 80% of respondents had used telemedicine at least once in 2022, up from 72% in 2021. Therefore, the growth of telehealth and telemedicine is a significant factor driving the expansion of AI in the medical diagnostics market.
The AI in medical diagnostics market is witnessing a significant trend characterized by product innovations, with major companies actively introducing new solutions to maintain their market positions. In March 2023, Qritive, a Singapore-based software company, launched the 'Qai Prostate,' an AI-powered tool specifically designed for prostate cancer diagnosis. This innovative product is capable of distinguishing between benign and malignant tumors, precisely identifying the locations of prostatic cancer, and identifying prostatic adenocarcinoma. Notably, the Qai Prostate tool enhances laboratory productivity by allowing pathologists to select, prioritize, and focus on cases that are most beneficial to them.
Major companies in the AI in medical diagnostics market are strategically developing medical imaging suites to gain a competitive advantage. Medical imaging involves techniques and processes that create visual representations of the interior of the body for clinical analysis and medical intervention. In October 2022, Google LLC, a US-based technology company, introduced the Medical Imaging Suite, an industry solution aimed at improving accessibility, interoperability, and usability of healthcare imaging data. The suite leverages AI for imaging to support faster and more accurate diagnosis, enhance productivity for healthcare workers, and improve patient care outcomes. It includes AI-assisted annotation tools, advanced analytics through tools such as BigQuery and Looker, accelerated AI pipeline development with Vertex AI, and flexible deployment options for cloud, on-premises, or edge settings. This comprehensive and adaptable solution addresses the evolving needs of healthcare organizations.
In October 2024, GE HealthCare Technologies Inc., a medical technology company based in the U.S., acquired Intelligent Ultrasound Group PLC for around $53 million. This acquisition allows GE HealthCare to incorporate Intelligent Ultrasound's AI-driven tools into its ultrasound offerings, aiming to improve workflow efficiency, minimize repetitive tasks, and simplify ultrasound examinations for clinicians. Intelligent Ultrasound Group PLC, a diagnostics company located in the UK, focuses on AI-driven ultrasound software and training tools for medical diagnostics.
Major companies operating in the AI in medical diagnostics market include International Business Machines Corporation, Siemens Healthineers AG, GE HealthCare Technologies Inc., Digital Diagnostics Inc., Heartflow Inc., Aidoc Medical Ltd., Koninklijke Philips N.V., Nanox Imaging Ltd., Microsoft Corporation, Nvidia Corporation, Intel Corporation, Xilinx Inc., Enlitic Inc., Aidence B.V., Butterfly Network Inc., Day Zero Diagnostics Inc., MicroHealth LLC, Arterys Inc., PathAI Inc., Zebra Medical Vision Inc., Tempus Labs Inc., Caption Health Inc., Proscia Inc., AliveCor Corporation, ResApp Health Limited, Volpara Health Technologies Limited, Koios Medical Inc., Ultromics Limited, MaxQ AI Ltd., Paige.AI Inc.
North America was the largest region in the AI in medical diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global AI in medical diagnostics market report during the forecast period. The regions covered in the ai in medical diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the ai in medical diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The AI in medical diagnostics market consists of revenues earned by entities by providing services such as magnetic resonance imaging (MRI), ultrasound, and computed tomography scans, robotic process automation, machine learning, natural language processing, and rule-based expert systems. The market value includes the value of related goods sold by the service provider or included within the service offering. AI in the medical diagnostics market also includes sales of dental devices, diabetes care devices, nephrology and urology devices, neurology devices, and physical robots which are used in providing AI in medical diagnostics services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
AI In Medical Diagnostics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ai in medical diagnostics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ai in medical diagnostics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ai in medical diagnostics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.