The "Global Artificial Intelligence in Diagnostics Market By Diagnosis Type (Radiology, Oncology, Neurology, Cardiology, Chest & Lungs, Pathology and Other Diagnosis Types), By Component (Services, Software and Hardware), By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Artificial Intelligence in Diagnostics Market size is expected to reach $1.3 billion by 2026, rising at a market growth of 27.4% CAGR during the forecast period.
Artificial intelligence in healthcare is one of the most important scientific advancements in medicine so far. The participation of several start-ups in the development of AI-driven imaging and diagnostic solutions is a key factor contributing to the growth of the sector.
Artificial intelligence applications vary from image acquisition, processing to aided reporting, follow-up, data storage, data mining, etc. The report provides a balance between threats to AI and opportunities for radiologists in the modern medical world. The use of machine learning combines computational models and algorithms that replicate the brain's biological neural network architecture, i.e., artificial neural networks (ANNs). Output wise Deep learning has a higher rate of success relative to conventional machine learning.
The growing amount of data to be processed can affect how radiologists view images, i.e. from inference to identification and explanation. If too many images are processed by radiologists in a day, the odds of error rise, while at the same time the radiologist is reduced to being a pure "image analyst." The clinical interpretation of the findings shall be left to other physicians or specialists. In other words, if radiologists do not have time for professional judgment or circumstances such as Indian or Eastern Europe or the African market where there is a lack of radiologists, the final evaluation of radiological tests will be left to non-experts in medical imaging.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Siemens AG (Siemens Healthineers), Aidoc Medical Ltd., AliveCor, Inc., Imagen Technologies, Inc., VUNO, Inc., IDx Technologies, Inc., NovaSignal Corporation, Riverain Technologies, LLC, and Zebra Medical Vision Ltd.
Major Industry Developments in 2020
Partnerships, Collaborations, and Agreements
Jun-2020: GE Healthcare announced collaboration with Lunit, a South Korean startup. Together with Lunit, GE launched an artificial intelligence-powered chest X-ray analysis suite. The suite has been designed to spot and highlight eight common conditions, using algorithms built by Lunit.
Jun-2020: Siemens signed an agreement with Geisinger, a healthcare provider. The agreement was focused on accessing diagnostic imaging equipment and artificial intelligence applications. The partnership is expected to advance and support elements of its strategic priorities related to continually improving care for their patients, communities and the region.
May-2020: Aidoc collaborated with Telemedicine Clinic (TMC), the teleradiology unit of leading European diagnostics group Unilabs. Following the collaboration, Telemedicine Clinic rolled out Aidoc's radiology AI solution across its network, ensuring the highest quality of diagnosis for TMC patients around the world.
Apr-2020: AliveCor came into partnership with Medable, Inc., the leading global platform for decentralized clinical trials. The partnership was focused on dramatically scaling remote clinical trials by enabling in-home ECGs with AliveCor's KardiaMobile6L, the six-lead personal ECG.
Feb-2020: Aidoc teamed up with LucidHealth, a physician-owned and led radiology company. Under this collaboration, the latter company was aimed to use an AI-powered diagnostic aid from the former company to help prioritize and expedite treatment to patients with critical, life-threatening conditions.
Product Launches and Product Expansions
Jul-2020: AliveCor introduced KardiaCare, a digital health subscription service. The service provides members the control and convenience of managing heart health at home. This new service delivers exclusive digital tools to make it easier for users to interpret their heart data, monitor risk factors, identify symptom triggers, and measure the impact of positive lifestyle changes as part of a long-term heart care program.
Jul-2020: Zebra Medical Vision got FDA Approval for HealthMammo, an artificial intelligence tool. The tool aimed to help radiologists identify suspicious mammograms. The AI tool works by automatically sending mammograms to the analytic platform to be searched for breast lesions.
Jun-2020: VUNO got Class IIa CE markings for five of its AI solutions. These solutions are VUNO Med -BoneAge, which assists in assessing bone age based on a child's left-hand X-ray image, reducing diagnosis time and improving accuracy; VUNO Med -DeepBrain, which segments brain regions using brain MRI data and quantifies the volumes of each region to provide atrophy volumetrics against normative database; VUNO Med -Chest X-Ray, which greatly enhances the screening function of chest X-rays by detecting the most common thoracic findings and diseases through chest X-ray images; VUNO Med -Fundus AI, it automatically detects a variety of lesions from the fundus image and quickly classifies them for diagnosis; and VUNO Med -LungCT AI, which detects and quantifies early on pulmonary nodules that can progress to lung cancer, and automatically categorizes Lung-RADS to efficiently manage multiple pulmonary nodules.
Apr-2020: VUNO announced that its first CT based pulmonary nodule detecting AI solution in Korea, VUNO Med-LungCT AI, approved by the Ministry of Food and Drug Safety. The AI solution became a valuable lung cancer diagnostic tool for healthcare professionals in Korea.
By Diagnosis Type
Chest & Lungs
Other Diagnosis Types
General Electric (GE) Co. (GE Healthcare)
Siemens AG (Siemens Healthineers)
Aidoc Medical Ltd.
Imagen Technologies, Inc.
IDx Technologies, Inc.
Riverain Technologies, LLC
Zebra Medical Vision Ltd.
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