Artificial Intelligence
AI In Medical Diagnostics Global Market Report 2023
New York, July 27, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “AI In Medical Diagnostics Global Market Report 2023” – https://www.reportlinker.com/p06480039/?utm_source=GNW
, Koninklijke Philips N.V., Nanox AI, Microsoft Corporation, Nvidia Corporation, Intel Corporation, Xilinx Inc., Enlitic Inc., Aidence, Butterfly Network Inc., Day Zero Diagnostics Inc., and MicroHealth LLC.
The global AI in medical diagnostics market is expected to grow from $1.99 billion in 2022 to $2.85 billion in 2023 at a compound annual growth rate (CAGR) of 43.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The AI in medical diagnostics market is expected to reach $11.75 billion in 2027 at a CAGR of 42.5%.
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.
AI in medical diagnostics refers to the use of artificial intelligence in the treatment and medical diagnostics. AI in medical diagnostics are used for medical imaging data including X-rays, MRIs, ultrasounds, CT scans, and DXAs to help doctors discover and diagnose diseases more precisely and rapidly.
North America was the largest region in the AI in medical diagnostics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in AI in medical diagnostics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of AI in medical diagnostics are software and services.Software used in medical diagnostics may detect a variety of signs, such as the unexpected proliferation of molecules in cells that may be a sign of a disease, using picture processing.
The technologies used in this process are natural language processing, computer vision, machine learning, context-aware computing, and others, that are used in special diagnostics cases such as brain and neurological, oncology, cardiac and vascular, chest and lung, obstetrics and gynecology, and others. These are applied through computer-aided detection, computer-aided diagnosis, quantitative analysis tools, and clinical decision, used by hospitals, diagnostics imaging centers, diagnostics laboratories, and others.
The increasing investment in healthcare is expected to propel the growth of the AI in medical diagnostics market going forward.Health expenditure refers to the portion of total revenue that is spent by the public and private sectors for healthcare services.
It provides employment for healthcare professionals, boosts earnings for healthcare employees, expands municipal tax revenues, and stimulates demand for associated goods and services that will support AI technology’s application in healthcare. For instance, in February 2023, according to American Medical Association, a US-based professional organization company, from 2020 to 2021, health spending in the United States climbed by 2.7%, reaching $4.3 trillion, or $12,914 per person. Therefore, the increasing investment in healthcare is driving the growth of the AI in medical diagnostics market.
Product innovations are a key trend gaining popularity in the AI in medical diagnostics market.Major companies operating in the AI in medical diagnostics market are innovating new products to sustain their position in the market.
For instance, in March 2023, Qritive, a Singapore-based software company, launched an AI-powered “Qai Prostate” tool for prostate cancer diagnosis.This product can distinguish between benign and malignant tumors, precisely pinpoint the locations of prostatic cancer, and identify prostatic adenocarcinoma.
It also increases lab productivity by enabling pathologists to select, prioritize, and select cases that are helpful to them.
In April 2021, Siemens Healthineers, a Germany-based medical devices company, acquired Varian Medical Systems for an undisclosed amount.With this acquisition, Siemens Healthineers is in the greatest position to make two leaps, one in cancer treatment and one influence the healthcare system.
Varian Medical Systems is a US-based oncology treatment and software maker offering artificial intelligence (AI)-powered personalized cancer care delivery systems in radiation oncology.
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.
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.
The AI in medical diagnostics market research report is one of a series of new reports 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.
Read the full report: https://www.reportlinker.com/p06480039/?utm_source=GNW
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