Artificial Intelligence In Medical Diagnostics Market Size, Share, Growth Analysis, By Component(Software, Services), By End user(Hospitals, Diagnostic Centers, Others End Users), By Region - Industry Forecast 2024-2031

Global Artificial Intelligence In Medical Diagnostics Market size was valued at USD 641,965,634.77. million in 2019 and is poised to grow from USD 800 million in 2023 to USD 5400 million by 2031, growing at a CAGR of 24.6% in the forecast period (2024-2031).

Artificial intelligence (AI) in medical diagnostics consists of AI software and services that assist healthcare practitioners in diagnosing various disorders. AI-based software solutions can analyse the data from a diagnostic process and either aid the healthcare professional make a proper diagnosis or triage patients by detecting any questionable medical images. Deep learning, data insights, and algorithms are combined with AI in medical diagnostics to identify important and life-threatening disorders. It automates the diagnosing procedure and lightens the load on medical staff. The high rate of diagnostic errors, the lack of qualified medical personnel, and the rising incidence of chronic diseases are the primary reasons propelling artificial intelligence in medical diagnostics market. Furthermore, this market is anticipated to experience considerable growth prospects due to the high growth potential of emerging economies and the rising number of cross-industry partnerships and collaborations.

The market growth is driven by the growing need for the adoption of AI in medical diagnosis to lessen errors, shortage of healthcare professionals, and increasing incidence rate of chronic diseases. Moreover, the growth potential in growing economies and the increasing number of cross-industry partnerships & collaborations are expected to provide significant growth opportunities for the market.

US Artificial Intelligence In Medical Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.