Published Date: 31-Oct-2022
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According to a new report, published by KBV research, The Global Artificial Intelligence (AI) in Medical Diagnostics Market size is expected to reach $7.3 billion by 2028, rising at a market growth of 39.6% CAGR during the forecast period.
The In Vitro Diagnostics market is exhibiting a CAGR of 44.2% during (2022 - 2028). In vitro diagnostics (IVD) are tests performed on body fluid or tissue samples, such as blood or tissue. In vitro diagnostics can detect diseases and other problems, and can be used to monitor an individual's health in order to cure, treat, or prevent disease. These in vitro diagnostics may involve next-generation sequencing tests, which examine an individual's DNA for genetic changes.
The Hospitals market is leading the segment in the Global Artificial Intelligence (AI) in Medical Diagnostics Market by End User in 2021; thereby, achieving a market value of $3.2 billion by 2028. The large share of this segment can be attributed to the increasing number of diagnostic imaging treatments conducted in hospitals or used as standard procedures, the increasing inclination of hospitals toward the digitization and automation of radiology patient workflow as well as healthcare facilities to enhance the quality of patient care along with the focus on patient centricity, and the increasing adoption of advanced imaging technologies.
The Software market is showcasing a CAGR of 37.4% during (2022 - 2028). The rapidly rising growth of this segment can be ascribed to the high demand for AI-based software solutions that provide rapid and accurate medical diagnosis, the increasing number of new software approvals and launches, and the growing lack of professionals.
The North America market dominated the Global Artificial Intelligence (AI) in Medical Diagnostics Market by Region in 2021; thereby, achieving a market value of $2.7 billion by 2028. The Europe market is poised to grow at a CAGR of 38.8% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 41% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Nvidia Corporation, IBM Corporation, Intel Corporation, Google LLC, Siemens Healthineers AG (Siemens AG), General Electric (GE) Co. (GE Healthcare), Xilinx, Inc., Digital Diagnostics, Inc. and InformAI, LLC
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