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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 in Medical Diagnostics Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'IBM Watson Health', 'Intel Corporation', 'NVIDIA Corporation', 'Google LLC', 'GE Healthcare', 'Siemens Healthineers', 'Philips Healthcare', 'Hologic Inc.', 'Arterys Inc.', 'Medtronic Inc.', 'Freenome Holdings Inc.', 'PathAI Inc.', 'Enlitic Inc.', 'Zebra Medical Vision Ltd.', ' Inc.', 'Gauss Surgical Inc.', 'Aidoc Medical Ltd.', 'Paige.AI Inc.', 'Freenome Holdings Inc.', 'Owkin Inc.'

Introduction of Big Data to Drive Market Growth

The actual goals during the development of Al technologies were to make them human-aware, or to create models that resembled how people think. Al machine developers continue to face difficulties in building interactive and scalable machines. Additionally, the increase in human interference with machine learning techniques and interest in learning more about the process has created new research difficulties, such as those related to interpretation and presentation, issues with automating components, and the intelligent management of crowdsourcing. Al machines have trouble understanding particular instructions from humans as well as knowledge from other sources. The delivery of the output and feedback methods from the Al system are among the presentation challenges. Thus, the greatest opportunity for Al developers is to continue to develop human-aware Al systems.

North America will hold the largest artificial intelligence in medical diagnostics market share, followed by Europe and Asia-Pacific. Technological advancements, increase in the number of new product approvals, high adoption rate of AI in healthcare, presence of key market players, and an established IT infrastructure in the healthcare industry are some of the key factors propelling the growth of the North American AI in medical diagnostics market. The market is expected to grow at the largest rate in Asia-Pacific during the projected period. The rising prevalence of various chronic & infectious diseases, rising number of AI-based startups, particularly in China and India, increase in funding, and significant potential of AI in filling the gap in the region's healthcare infrastructure are all factors contributing to the high market growth in Asia-Pacific.

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Global Artificial Intelligence in Medical Diagnostics Market

Product ID: SQSG35G2033