PUBLISHER: The Insight Partners | PRODUCT CODE: 1874061
PUBLISHER: The Insight Partners | PRODUCT CODE: 1874061
The market for artificial intelligence in healthcare diagnosis was valued at approximately US$ 4.23 Billion in 2024 and is anticipated to grow to US$ 85.12 Billion by 2031, achieving a compound annual growth rate (CAGR) of CAGR of 32.5% from 2031 to 2031. Key trends in this market are expected to include AI-driven imaging solutions, remote monitoring and telemedicine, predictive analytics, and early detection technologies.
Analysis of the Artificial Intelligence in Healthcare Diagnosis Market
Factors propelling market growth include the increasing adoption of artificial intelligence (AI) for disease diagnosis and identification, along with rising investments in AI healthcare startups. The integration of AI into diagnostic processes is revolutionizing the diagnostic and patient care sectors. For example, in October 2024, Philips partnered with Quilbim, a company based in Spain, to offer AI imaging and reporting tools aimed at enhancing magnetic resonance (MR) prostate examinations.
Nonetheless, challenges such as a shortage of skilled AI professionals and unclear regulatory frameworks for medical software are impeding market expansion.
Overview of the Artificial Intelligence in Healthcare Diagnosis Market
The global market for artificial intelligence in healthcare diagnosis is categorized by region, including North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Growth in these regions is driven by the increasing need to lower healthcare costs and the significance of big data in healthcare. Additionally, the growing use of AI-based tools in medical care and an uptick in capital investments are contributing to market growth. The rising adoption of AI for disease diagnosis and identification, along with increased funding for AI healthcare startups, is expected to further boost the market during the forecast period.
Strategic Insights
Drivers and Opportunities in the Artificial Intelligence in Healthcare Diagnosis Market
Surge in Product Launches to Benefit the Market.
AI in healthcare represents one of the most significant technological advancements to date. Healthcare startups are creating AI-driven diagnostic and therapeutic solutions, which are major contributors to market growth during the study period. For instance, in May 2024, Lumibird Medical introduced the C.DIAG, a diagnostic platform for dry eye that employs AI algorithms. Similarly, in April 2024, General Electric Company launched Caption AI, an AI-driven software designed for rapid cardiac assessments at the point of care using Vscan Air SL.
Emerging Economies Present Opportunities in the Artificial Intelligence in Healthcare Diagnosis Market
AI has the potential to address challenges posed by inadequate infrastructure in emerging markets by offering alternative and cost-effective solutions to deliver services to underserved populations, including remote communities. Leveraging the extensive reach of mobile networks, AI is utilized in telemedicine for early disease diagnosis, which can reduce the costs associated with maintaining a large network of community health workers. AI also plays a crucial role in cancer screening and treatment, providing significant outreach for large-scale targeted interventions. In India, there are over 1 million new cancer cases reported annually, a figure expected to rise due to an aging population and lifestyle changes. Despite this, India has only about 2,000 experienced oncologists and fewer than 500 expert oncopathologists to handle this burden. Therefore, incorporating AI into diagnostic solutions can help create more resilient and sustainable healthcare systems in developing countries.
Segmentation Analysis of the Artificial Intelligence in Healthcare Diagnosis Market Report
Key segments contributing to the analysis of the artificial intelligence in healthcare diagnosis market include services and applications.
Geographical Market Share Analysis of Artificial Intelligence in Healthcare Diagnosis
The geographical scope of the artificial intelligence in healthcare diagnosis market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America is the leading market for artificial intelligence in healthcare diagnosis, with the US holding the largest market share, followed by Canada. The growth in the US market is driven by the need to reduce healthcare costs, the increasing importance of big data in healthcare, and rising capital investments in AI for healthcare diagnosis. Similarly, in Canada, government initiatives aimed at implementing AI technologies nationwide are contributing to market growth.
The Asia Pacific region is the fastest-growing market for artificial intelligence in healthcare diagnosis globally. This region includes countries such as China, India, Japan, Australia, South Korea, and others. The market is expected to see significant growth opportunities due to a shortage of healthcare professionals, a rising prevalence of chronic diseases, increased investment in startups, and improvements in healthcare infrastructure.
Scope of the Artificial Intelligence in Healthcare Diagnosis Market Report
Recent Developments and News in the Artificial Intelligence in Healthcare Diagnosis Market
The artificial intelligence in healthcare diagnosis market is assessed through qualitative and quantitative data collected from primary and secondary research, including key corporate publications, association data, and databases. Below are some recent developments and strategies in the artificial intelligence in healthcare diagnosis market:
Coverage and Deliverables of the Artificial Intelligence in Healthcare Diagnosis Market Report
The report titled "Artificial Intelligence in Healthcare Diagnosis Market Size and Forecast (2021-2031)" provides a comprehensive analysis of the market, covering the following areas: