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Artificial Intelligence (AI) in Medical Diagnostics Market Worth $3.7 billion | MarketsandMarkets

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CHICAGO, Oct. 19, 2023 /PRNewswire/ — In the near future, Artificial Intelligence (AI) is poised to revolutionize the medical diagnostics industry, offering unprecedented accuracy and efficiency in disease detection and patient care. Through the integration of machine learning algorithms and advanced imaging technologies, AI-driven diagnostic systems will enable healthcare professionals to swiftly and accurately identify a wide range of medical conditions, from cancer and cardiovascular diseases to rare genetic disorders. This transformation promises faster and more cost-effective diagnoses, reduced human error, and ultimately, improved patient outcomes. As AI continues to advance, its role in medical diagnostics will not only enhance the capabilities of healthcare providers but also make healthcare more accessible and effective for people worldwide.

Artificial Intelligence (AI) in Medical Diagnostics Market in terms of revenue was estimated to be worth $1.3 billion in 2023 and is poised to reach $3.7 billion by 2028, growing at a CAGR of 23.2% from 2023 to 2028 according to a new report by MarketsandMarkets. Growth in this market is majorly driven by the accessibility of funding for AI-based startups, and the mounting number of cross-industry partnerships & collaborations.
However, Inadequate AI workforce and ambiguous regulatory guidelines for medical software are factors expected to restrain the market growth.
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Browse in-depth TOC on “Artificial Intelligence (AI) in Medical Diagnostics Market”
401 – Tables46 – Figures341 – Pages
Artificial Intelligence (AI) in Medical Diagnostics Market Scope:
Report Coverage
Details
Market Revenue in 2023
$1.3 billion
Estimated Value by 2028
$3.7 billion
Growth Rate
Poised to grow at a CAGR of 23.2%
Market Size Available for
2017-2028
Forecast Period
2023–2028
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component, Application, End User, And Region
Geographies Covered
North America (US, and Canada), Europe (Germany, France, UK, Italy, Spain and the RoE), Asia Pacific (Japan, China, India, and RoAPAC), Latin America, Middle East & Africa.
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Untapped emerging markets
Key Market Drivers
Increasing demand for AI-based solutions to reduce work pressure on radiologists
 
“Software segment is estimated to account for the largest share of the AI in Medical Diagnostics Market in 2023, by component”
On the basis of components, the AI in medical diagnostics market is segmented into software, hardware, and services. In 2023, the software segment is expected to hold the largest share of this market, while the software segment is estimated to grow at a higher CAGR from 2023 to 2028. Software solutions empower healthcare providers to maintain a competitive edge, even in the face of challenges such as staffing shortages and the growing volume of imaging scans.
“The In Vivo Diagnostics segment is estimated to account for the largest share of the AI in Medical Diagnostics Market in 2023, by application”
On the basis of application, AI in medical diagnostics market is divided into in vivo and in vitro diagnostics. In 2023, the in vivo diagnostics segment is expected to hold the largest share of this market. Factors such as rising adoption of AI solutions by practitioners, as these solutions aid lower human errors and advance treatment efficacy. However, the in vitro diagnostics segment is estimated to register highest CAGR during forecast period. In Vitro diagnostics is conducted mainly conducted in diagnostic laboratories, pathologies, microbiology centers, and immunology centers. However, in Vitro diagnostics has high growth potential,as it is largely untapped, especially in emerging markets.
“The Hospital segment is estimated to account for the largest share of the AI in Medical Diagnostics Market in 2023, by end user”
On the basis of end users, AI in medical diagnostics market is segmented into hospitals, diagnostic imaging centers, diagnostic laboratories, and other end users. In 2023, the hospitals segment is expected to hold the largest share of this market. Growth in this segment is driven by rising use of minimally invasive processes in hospitals to focus on quality of patient care, and the mounting adoption of advanced imaging modalities to improve workflow efficiency.
“North America to dominate the AI in medical diagnostics market in 2023”
On the basis of region, AI in medical diagnostics market has been segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America is projected to account for the largest market share of this market. However, the Asia Pacific market is projected to register the highest CAGR  during the forecast period. The high growth rate of the Asia Pacific market can be due to expanding number of cancer patients in Asia Pacific countries and growth approaches companies implement in emerging markets.
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Artificial Intelligence (AI) in Medical Diagnostics Market Dynamics:
Drivers:
Influx of big dataGrowing number of cross-industry partnerships & collaborationsIncreasing demand for AI-based solutions to reduce work pressure on radiologistsRising government initiatives to drive AI-based technologiesAvailability of funding for AI-based startupsRestraints:
Reluctance among medical practitioners to adopt AI-based technologiesInadequate AI workforce and ambiguous regulatory guidelines for medical softwareOpportunities:
Untapped emerging marketsGrowing potential of AI in imaging diagnostics for COVID-19Increasing focus on developing human-aware AI systemsChallenge:
Budgetary constraintsUnstructured healthcare dataData privacy concernsLimited interoperability for AI solutionsKey Market Players of Artificial Intelligence (AI) in Medical Diagnostics Industry:
Prominent players in AI in Medical Diagnostics market are Microsoft (US), NVIDIA Corporation (US), Merative (US), Intel Corporation (US), Google (US), Siemens Healthineers (Germany), GE HealthCare (US), Digital Diagnostics Inc. (US), Advanced Micro Devices, Inc.  (US), InformAI (US), HeartFlow, Inc. (US), Enlitic, Inc.  (US), icometrix (Belgium), Aidence (Netherlands), Butterfly Network, Inc. (US), Nano-X Imaging LTD. (Israel), Viz.ai, Inc (US), Quibim (Spain), Qure.ai (India), Therapixel (France), Aidoc (US), Koninklijke Philips N.V. (Netherlands), Lunit, Inc. (South Korea), EchoNous, Inc. (US), and Brainomix (UK).
Recent Developments:
In September 2023, Mayo Clinic (US) and GE HealthCare (US) collaborated on research and product development programs to better equip clinicians and help diagnose and treat medical conditions.In January 2023, Intel Corporation (US) launched 4th Gen Intel Xeon Scalable processors (code-named Sapphire Rapids), the Intel Xeon CPU Max Series (code-named Sapphire Rapids HBM) and the Intel Data Center GPU Max Series (code-named Ponte Vecchio), delivering a leap in data center performance, efficiency, security and new capabilities for AI, the cloud, the network and edge, and the world’s most powerful supercomputers.In October 2022, Google Cloud (US) launched Medical Imaging Suite, a new industry solution that makes imaging healthcare data more accessible, interoperable, and useful. Google Cloud enables the development of AI for imaging to support faster, more precise diagnosis of images, increased productivity for healthcare workers, and improved care access and patient outcomes.In January 2022, Siemens Healthineers (Germany) and Ohio State Wexner Medical Center (US) partnered to provide cutting-edge imaging and treatment technology to Ohio State patient care, research institutions, and the surrounding regions. The alliance offers cutting-edge radiation oncology and advanced imaging modalities on the Outpatient Care West Campus.Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=22519734
Artificial Intelligence (AI) in Medical Diagnostics Market Advantages:
Improved Accuracy: AI systems can analyze vast amounts of medical data with precision, reducing the likelihood of human errors in diagnosis and increasing the accuracy of results.Early Disease Detection: AI can detect diseases at an earlier stage when treatment is often more effective, potentially saving lives and reducing healthcare costs.Efficiency: AI streamlines the diagnostic process, providing rapid results and reducing the time patients spend waiting for diagnoses, which can lead to quicker treatment and better outcomes.Cost Reduction: AI can reduce the cost of medical diagnostics by automating tasks and increasing the efficiency of healthcare professionals, making healthcare more accessible and affordable.Personalized Medicine: AI can analyze patient data to tailor treatment plans, taking into account individual genetic, lifestyle, and environmental factors, thus enhancing the effectiveness of treatment.Remote Diagnostics: AI enables remote diagnostics and telemedicine, improving access to healthcare in remote or underserved areas, and during global health crises like pandemics.Data Analysis: AI can process vast amounts of data from various sources, such as medical records, images, and patient histories, to assist in complex diagnostic processes and research.Continuous Monitoring: AI can provide real-time monitoring of patients, alerting healthcare providers to changes in health status and enabling timely interventions.Enhanced Imaging: AI can enhance the quality of medical imaging, such as MRI and CT scans, allowing for more accurate and detailed diagnoses.Research and Drug Discovery: AI aids in drug discovery, identifying potential compounds and accelerating the development of new treatments, ultimately advancing medical science.Reduced Physician Workload: AI can handle routine, time-consuming tasks, allowing physicians to focus more on patient care and complex cases.Consistency: AI systems provide consistent results, eliminating variations that can occur due to human factors and making diagnostic and treatment processes more reliable.These advantages highlight the transformative potential of AI in the medical diagnostics market, improving patient care, increasing efficiency, and advancing the capabilities of healthcare professionals.Related Reports:
Diagnostic Imaging Market – Global Forecasts To 2028
Ultrasound Market – Global Forecasts to 2028
Breast Imaging Market – Global Forecasts to 2028
Diagnostic Imaging Services Market – Global Forecasts to 2027
Nuclear Imaging Equipment Market – Global Forecasts to 2025
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/artificial-intelligence-medical-diagnostics-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/artificial-intelligence-medical-diagnostics.asp
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Akuvox S567G Smart Indoor Monitor Has Received Google Mobile Service Certification

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September 14, 2024

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XIAMEN, China, Sept. 13, 2024 /PRNewswire/ — Akuvox has announced its S567G, an indoor monitor powered by Android™, to have received Google GMS certification. This certification ensures full support for Google Services, allowing users to download and update apps directly from the Google Play Store, including smart home control apps. It also enhances system security, protecting against malware and unauthorized access.

GMS certification involves comprehensive testing and approval by Google or a designated 3PL lab, validating security and compatibility to ensure seamless integration within the Android ecosystem. Receiving GMS certification underscores Akuvox’s leadership in the smart intercom industry. Building on its legacy as the pioneer of Android smart intercoms, Akuvox continues to elevate its Android systems with Google’s rigorous certification, offering clients flexible and sophisticated smart intercom solutions. 
The S567G’s GMS certification ensures flawless operation with key Google apps like Chrome, Gmail, YouTube, Maps, and the Play Store. Edward Shi, Product Manager of the S567G, notes, “The positive feedback we’ve received from clients, even during testing, confirms that this device is transforming daily life. It’s more than just an intercom — it’s a versatile tool, even capable of functioning as a small TV. Our team has worked tirelessly to meet the highest standards, and I’m excited to see how it enhances smart living for our users.”
The S567G’s features extend beyond intercom functionality. With four HD speakers and a 1280 x 800 IPS LCD screen, it offers an exceptional audio-visual experience, redefining the concept of an indoor monitor. Whether for entertainment or smart home control, the S567G stands out as a versatile wall-mounted tablet, bringing innovation to every interaction.
About Akuvox
Akuvox is a global leading provider of smart intercom and smart home products and solutions. It is committed to unleashing the power of technology to improve people’s lives with better communication, greater security, and more convenience. Encompassing artificial intelligence, SIP, Android, cloud, security, and other advanced technologies, Akuvox continuously drives breakthrough changes in the industry and creatively delivers an unrivaled portfolio of smart intercom and smart home products and solutions. It has been deployed and used daily in more than 110 countries and regions, meeting customer needs in various vertical markets that range from residential to commercial, from healthcare to public safety.
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SeaBubbles Accelerates Sustainable Maritime Mobility with SmartBubble and Strategic Acquisition

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21 hours ago

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September 13, 2024

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SAINT JORIOZ, France, Sept. 13, 2024 /PRNewswire/ — SeaBubbles, French pioneer in zero-emission hydrofoils, strengthens its commitment to ecological transition with the launch of SmartBubble, new flying boat model combining cutting-edge technology with iconic design. This innovative vessel, designed to carry up to eight people at a speed of 16 knots (30 km/h), takes its passengers on a silent and environmentally friendly flight, ideal for water taxi services and urban transportation.

SmartBubble: Concentration of Technology and Design
Following the success of its first public line on Lake Annecy, where hundreds of passengers experienced the unique sensation of flying aboard The Bubble (4-seater model), SeaBubbles reaches a new milestone with the homologation of the SmartBubble (8-seater model) and its four patents, including retractable foils.
SmartBubble technology is geared towards energy efficiency. The submerged wings (foils) equipped with automatic flaps allow to fly at low speeds, saving 40% of energy required. This unique boat has just been presented afloat for the first time at the Cannes Yachting Festival.
SeaBubbles Strengthens Flight Control Expertise with Neocean Acquisition
SeaBubbles also announces the acquisition of Neocean technology, to accelerate the development of flight control expertise, specifically on “inverted T” foils. Neocean is renowned for developing the Overboat, foiling catamaran with proven stability and maneuverability.
SeaBubbles is a key player in hydrofoil navigation, technology that improves energy efficiency of boats, particularly electric ones. The flight control system is a central element of the flight experience: it is designed to ensure stable flight by dynamically and autonomously managing the mechanical inclination of the flaps on the trailing edges of the foils.
SeaBubbles: Vision for the Future
SeaBubbles’ ambition is to revolutionize urban and suburban maritime transport with more efficient and environmentally friendly boats. Examples such as the Calanques National Park, Norwegian fjords, alpine lakes or the canals of Amsterdam demonstrate a committed initiative towards the preservation of aquatic ecosystems by gradually banning the circulation of thermal boats.
“Foils significantly reduce the drag of our boats, allowing our hydrofoils to move more easily and with less energy than a conventional boat: a considerable gain in cost and energy,” explains Virginie Seurat, CEO of SeaBubbles. “The acquisition of Neocean marks a decisive turning point and prepares us for our industrialization phase. We are ready to redefine the pleasure of boating and offer boats that comply with increasingly stringent environmental standards, while offering unique sailing comfort – zero noise, zero waves, zero emissions.”
AxiCom for SeaBubbles, [email protected] 
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Amagi and BuyDRM Partner to Secure Streaming Video on PlayMedia’s FAST Platform GoPlay

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September 13, 2024

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NEW YORK, Sept. 13, 2024 /PRNewswire/ — Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with BuyDRM, a leading content security services and solutions provider offering cloud-based content security for the streaming video platform GoPlay by PlayMedia. This successful collaboration with BuyDRM’s KeyOS Content Security Platform provides robust safeguards for valuable video content while allowing PlayMedia to focus on delivering high-quality video experiences to its audience without compromising security.

This partnership marks a significant step forward in addressing the evolving challenges of content security in today’s digital landscape. By combining BuyDRM’s expertise in DRM solutions with Amagi’s scalable cloud infrastructure, PlayMedia can ensure comprehensive protection for its content library against piracy and unauthorized access.
BuyDRM’s KeyOS Content Security Platform is an award-winning, studio-approved multi-DRM and watermarking content security platform for video. The KeyOS platform protects the assets of copyright holders and distributors with robust security services and solutions for high-value video content and is trusted by many of the most prominent names in media and entertainment across the globe.
Srinivasan KA, Co-Founder and Chief Revenue Officer at Amagi, said, “Our partnership with BuyDRM aligns perfectly with our endeavor to empower content creators and distributors with innovative technology. Integrating BuyDRM’s KeyOS platform into our cloud-based platform offers our customers like PlayMedia the peace of mind they need to focus on delivering exceptional content.”
“The alliance with Amagi made it possible for our mutual customer, PlayMedia, to utilize our content security offering in a cloud-based environment without sacrificing their security standards and the user experience,” said Christopher Levy, BuyDRM CEO and Co-Founder. “Both companies worked hard to empower PlayMedia with the technology needed to thrive in today’s streaming market.”
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Amagi is exhibiting at IBC2024. Attendees can join Amagi and experience its innovative media cloud platform, which addresses unified broadcast and streaming TV workflows. Click here to book a meeting with Amagi executives.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live, linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services, bringing simplicity, advanced automation, and transparency to all broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About BuyDRM
BuyDRM™ is a leading global provider of content security services for the entertainment, education, enterprise, and hospitality industries. BuyDRM’s KeyOS content security platform powers many of the largest brands in media and technology. With decades of market-leading experience implementing commercial content security solutions and media technologies, BuyDRM has amassed substantial success stories for many of today’s largest brands such as ABC (Australian Broadcasting Corporation), Daily Rounds, Deluxe Digital, EPIX, FuboTV, POPS Singapore, Rakuten Viki, Redbox, Roku, Samsung TV+, SBS Australia, Showtime, Sinclair Digital, Soundcloud, Sportradar, TubiTV and ViaPlay.
For more information, please visit www.buydrm.com.
Amagi Contact:
Aashish WashikarDirector – Corporate Communications Email: [email protected]
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