Europe Artificial Intelligence in Healthcare Diagnosis Market is expected to reach US$ 574.44 Mn by 2027

Automated Detection System Segment to Grow atFaster PaceDuringForecast Period

According to The Insight Partners market research study of “Europe Artificial Intelligence in Healthcare Diagnosis Market to 2027 – Regional Analysis and Forecast by Diagnostic Tool, Application, End User, Service, and Country,”the Europe artificial intelligence in healthcare diagnosis market is projectedto reach US$ 16,228.63 million by2027 from US$ 897.23 million in2019. The market is estimated to grow at CAGR of 43.8% from 2020 to 2027. The report highlights trends prevailing in the Europe artificial intelligence in healthcare diagnosismarketand the factors driving market along with those that act as hindrances.

The Europe artificial intelligence in healthcare diagnosismarket, based on diagnostic tool, is further segmented into medical imaging tool, automated detection system, and others.The medical imaging toolsegment held alargershare of the market in 2019. And, the automated detection systemsegment is estimated to register ahigherCAGR during the forecast period owing to rising adoption of artificial intelligence (AI) in disease identification and diagnosis and increasing investment in ai healthcare startups. Increasing awareness about exosomes diagnostics is propelling the companies to enter into this market to tap lucrative opportunities. For instance, Deep learning can aid the identification of anomalies in x-rays of the chest. By leveraging the inherent nature of in-depth knowledge being mathematically substantiated, companies are trying to implement in predicting abnormalities. Sooner, it will be possible to thoroughly understand and analyze a patient's health history and recommend the appropriate treatment. Dermatologists have claimed that artificial intelligence to identify skin cancer would be more effective than the normal diagnosing process. A deep learning-based convolution neural network managed to accurately diagnose 95% of skin cancers compared to 86.6% by experienced dermatologists, after going through 100,000 images. Thus, artificial intelligence beats dermatologists, by recognizing and categorizing skin cancer and starts the necessary treatment, restricting further spread of disease.

Leading companies operating in the exosome diagnostic and therapeutic marketare General Electric Company. Koninklijke Philips N.V., Aidoc, Arterys Inc., Icometrix, IDx Technologies Inc.., MaxQ AI Ltd., Caption Health, Inc., Zebra Medical Vision, Inc. Siemens Healthcare Private Limited amongst others.

Europe artificial intelligence in healthcare diagnosis Market, By Country, 2019 (%)

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Europe Artificial Intelligence in Healthcare Diagnosis Market to Grow at a CAGR of 8.0% to reach US$ 574.44 Million from 2020 to 2027

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Europe Artificial Intelligence in Healthcare Diagnosis Market Forecast to 2027 - COVID-19 Impact and Regional 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 Country

The report segments Europe artificial intelligence in healthcare diagnosis market as follows:

By Diagnostic Tool

• Medical Imaging Tool
• Automated Detection System
• Others

By Application

• Eye Care
• Oncology
• Radiology
• Cardiovascular
• Others

By Service

• Tele-Consultation
• Tele Monitoring
• Others

By End User

• Hospitals and Clinics
• Diagnostic Laboratory
• Home Care
  • Doctors
  • Patients

By Country

• US
• Canada
• Mexico