The artificial intelligence in diagnostics industry is expected to experience significant growth, reaching a CAGR of 22.2% between 2024 and 2032. This growth is driven by the increasing demand for AI tools in healthcare. Chronic diseases are becoming more prevalent, leading healthcare providers to rely on AI solutions for early detection, accurate diagnoses, and personalized treatment plans for conditions like diabetes and cancer. Factors such as an aging population, sedentary lifestyles, and poor dietary habits have contributed to the rise in chronic diseases, increasing the need for advanced diagnostic tools.
The World Health Organization (WHO) reported that chronic diseases account for 71% of global deaths, with cardiovascular diseases alone causing 17.9 million fatalities annually. As a result, there is a growing demand for AI tools to improve diagnostic precision, operational efficiency, and patient outcomes. The complexity of medical data, the need for faster diagnostic processes, and the focus on personalized medicine are driving the adoption of AI technologies in healthcare.
In 2023, the radiology segment led the artificial intelligence in diagnostics market, with a revenue share of 28.4%. AI tools have been particularly beneficial in radiology, where they excel in analyzing medical images such as X-rays, CT scans, MRIs, and ultrasounds. Hospitals and clinics are expected to contribute significantly to the growth of the AI in diagnostics market, with a projected value of USD 3.3 billion by 2032. These healthcare facilities require a wide range of diagnostic services, and AI-powered tools play a crucial role in managing procedures efficiently and accurately.
North America accounted for USD 451.6 million in the artificial intelligence in diagnostics market in 2023, with a projected CAGR of 21.2% from 2024 to 2032. The region, especially the U.S., is at the forefront of adopting cutting-edge healthcare technologies. Healthcare providers are eager to integrate AI-driven diagnostic tools to improve accuracy, minimize errors, and enhance patient outcomes. The prevalence of chronic diseases in North America further emphasizes the importance of AI-based diagnostics in early detection and management.
Key players in the artificial intelligence in diagnostics market include Aidoc, AliveCor Inc., IBM Corporation, NVIDIA Corporation, and Siemens Healthineers, among others. These companies are driving innovation in AI technologies for diagnostics, contributing to the growth of the market. As the demand for AI tools in healthcare continues to rise, the market is expected to expand further, offering advanced solutions for disease diagnosis and patient care.
