Report : Artificial Intelligence in Healthcare Diagnosis Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Diagnostic Tool (Medical Imaging Tool, Automated Detection System, and Others); Application (Eye Care, Oncology, Radiology, Cardiovascular, and Others); End User (Hospital and Clinic, Diagnostic Laboratory, and Home Care); Service (Tele-Consultation, Tele Monitoring, and Others); and Geography
Medical Imaging Tools to Contribute Large Share to Artificial Intelligence in Healthcare Diagnosis Market during 2020–2027
According to the latest study on “Artificial Intelligence in Healthcare Diagnosis Market Forecast to 2027 - COVID-19 Impact and Global Analysis Diagnostic Tool, Application, Service, and End User,” the market was valued at US$ 3,639.02 million in 2019 and is projected to reach US$ 66,811.97 million by 2027; it is expected to grow at a CAGR of 44.0% during 2020–2027. The report highlights the trends prevailing in the global artificial intelligence in healthcare diagnosis market, and drivers and deterrents pertaining to the market growth.
Based on diagnostic tool, the artificial intelligence in healthcare diagnosis market is segmented into medical imaging tool, automated detection system, and others. In 2019, the medical imaging tool segment accounted for the largest share of the market. The growth of the segmental market is attributed to the rising number of FDA approvals for the AI-based medical imaging tools.
Factors such as the rising adoption of artificial intelligence in disease identification and diagnosis and increasing investments in AI healthcare startups are driving the growth of the AI in healthcare diagnosis market. However, the lack of skilled workforce and ambiguity of regulatory guidelines for medical software impede the market growth. Further, the increasing potential in emerging economies offers significant opportunities for the future growth of the global artificial intelligence in healthcare diagnosis market players.
General Electric Company; Aidoc; Arterys Inc.; icometrix; IDx Technologies Inc; MaxQ AI Ltd.; Caption Health, Inc; Zebra Medical Vision, Inc.; Siemens Healthineers AG; and Koninklijke Philips N.V.; are among the prominent players in the artificial intelligence in healthcare diagnosis market. The market players are focused on partnerships and collaborations to sustain their position in the market. For instance, in June 2020, Zebra Medical Vision, Inc., collaborated with Apollo Hospitals chain for the deployment of AI-based tools across India, supported by the “India-Israel Industrial R&D and Technological Innovation Fund.” Moreover, the AI COVID-19 solution will in anticipated collaboration on additional medical findings, such as tuberculosis (TB).
Global Artificial Intelligence in Healthcare Diagnosis Market, by Region, 2019 (%)
The report segments the global artificial intelligence in healthcare diagnosis market as follows:
By Diagnostic Tool
By End User