Selbyville, Delaware, Dec. 01, 2020 (GLOBE NEWSWIRE) -- As per credible estimations, global artificial intelligence in diagnostics market accounted for USD 288 million in the year 2019 and is projected to register a noteworthy CAGR of 32.3% during 2020-2027.
The emergence of the Covid-19 pandemic has plummeted the global economy, arresting the market growth as well as revenue generation by disturbing the entire supply chain. The holistic study of the report aims at responding all client interrogations and suggest business strategies for stakeholders to adapt to the instabilities in the industry. Moreover, it incorporates a detailed investigation of the prominent industry partakers along with their product offerings, profit stake, and manufacturing capabilities.
The business intelligence report by Market Study Repot LLC states that vast applications of artificial intelligence technologies in the healthcare vertical such as patient monitoring care, personalized medicines, drug development, and medical imaging coupled with rising adoption of machine learning and artificial intelligence technologies in diagnostic procedures for higher accuracy as well as patient safety and affordability are augmenting the growth of global artificial intelligence in diagnostics market size.
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Additionally, implementation of AI technologies in medical diagnostic devices and systems, rising investments towards healthcare AI, strategic alliances among healthcare facilities and AI service providers, and growing awareness towards patient safety and care are stimulating the global artificial intelligence in diagnostics market outlook. However growing security concerns along with high costs associated with the implementation of AI technologies are expected to hinder the industry expansion throughout the analysis timeframe.
Citing an instance, as per the Center for Internet & Society (CIS), digital healthcare companies raised around USD 5.5 billion for implementation of AI technologies in the Indian healthcare vertical in 2017.
Outlining market segmentations:
Based on component type, global artificial intelligence in diagnostics industry is fragmented into services, hardware, and software.
With regards to diagnosis type, the overall market is bifurcated into neurology, chest & lung, radiology, pathology, oncology, cardiology, and others.
Regional outlook
From a regional frame of reference, global artificial intelligence in diagnostics market is divided into Latin America, Europe, North America, Asia-Pacific, and rest of the world. The country wise bifurcation of the market comprises Mexico, Brazil, Australia, Japan, South Korea, India, China, rest of APAC, France, Germany, Spain, United Kingdom, Italy, rest of Europe, Canada, and U.S.
North America accounts for a majority of global artificial intelligence in diagnostics market share, on account of high concentration of vendors along with increasing adoption of healthcare IT solutions in medical diagnosis.
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On the other hand, Asia-Pacific artificial intelligence in diagnostics market is predicted to register the highest CAGR over 2020-2027. Favorable government initiatives towards implementation of healthcare AI solutions coupled with flourishing healthcare infrastructure of India and China are fostering the expansion of the regional market.
Global Artificial Intelligence in Diagnostics Market Component Type Sub-segments (Revenue, USD Million, 2017-2027)
- Services
- Hardware
- Software
Global Artificial Intelligence in Diagnostics Market Diagnosis Type Sub-segments (Revenue, USD Million, 2017-2027)
- Neurology
- Chest & lung
- Radiology
- Pathology
- Oncology
- Cardiology
- Others
Global Artificial Intelligence in Diagnostics Market Regional Analysis (Revenue, USD Million, 2017-2027)
Latin America
- Mexico
- Brazil
Asia-Pacific
- South Korea
- Australia
- Japan
- India
- China
- Rest of APAC
Europe
- Italy
- Spain
- France
- Germany
- United Kingdom
- Rest of Europe
North America
- Canada
- U.S.
Global Artificial Intelligence in Diagnostics Market Competitive Landscape (Revenue, USD Million, 2017-2027)
- Zebra Medical Vision Ltd
- Riverain Technologies
- Siemens Healthineers AG
- Neural Analytics, Inc.
- IDx Technologies Inc.
- VUNO Inc
- Imagen Technologies, Inc.
- GE Healthcare
- AliveCor, Inc.
- Aidoc Medical Ltd.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Million)
1.2.1. Artificial Intelligence in Diagnostics Market, by Region, 2018-2027 (USD Million)
1.2.2. Artificial Intelligence in Diagnostics Market, by Component, 2018-2027 (USD Million)
1.2.3. Artificial Intelligence in Diagnostics Market, by Diagnosis Type, 2018-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Artificial Intelligence in Diagnostics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Artificial Intelligence in Diagnostics Market Dynamics
3.1. Artificial Intelligence in Diagnostics Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Artificial Intelligence in Diagnostics Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Artificial Intelligence in Diagnostics Market, by Component
5.1. Market Snapshot
5.2. Global Artificial Intelligence in Diagnostics Market by Component, Performance - Potential Analysis
5.3. Global Artificial Intelligence in Diagnostics Market Estimates & Forecasts by Component 2017-2027 (USD Million)
5.4. Artificial Intelligence in Diagnostics Market, Sub Segment Analysis
5.4.1. Software
5.4.2. Hardware
5.4.3. Services
Chapter 6. Global Artificial Intelligence in Diagnostics Market, by Diagnosis Type
6.1. Market Snapshot
6.2. Global Artificial Intelligence in Diagnostics Market by Diagnosis Type, Performance - Potential Analysis
6.3. Global Artificial Intelligence in Diagnostics Market Estimates & Forecasts by Diagnosis Type 2017-2027 (USD Million)
6.4. Artificial Intelligence in Diagnostics Market, Sub Segment Analysis
6.4.1. Cardiology
6.4.2. Oncology
6.4.3. Pathology
6.4.4. Radiology
6.4.5. Chest and Lung
6.4.6. Neurology
6.4.7. Others
Chapter 7. Global Artificial Intelligence in Diagnostics Market, Regional Analysis
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