Transforming Healthcare: AI in Diagnostics Market to See 27.6% CAGR Growth

Transforming Healthcare: AI in Diagnostics Market to See 27.6% CAGR Growth

PR Newswire

BOSTON, Jan. 9, 2025

"AI in clinical and molecular diagnostics uses artificial intelligence to analyze medical data, such as lab tests and genetic information, more quickly and accurately. BCC Research Highlights Explosive Growth in AI-Driven Clinical and Molecular Diagnostics, Projecting Market Expansion from $2.6 Billion in 2024 to $8.9 Billion by 2029

BOSTON, Jan. 9, 2025 /PRNewswire/ -- According to the latest study from BCC Research AI in Clinical and Molecular Diagnostics Market is expected to grow from $2.6 billion in 2024 and is projected to reach $8.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 27.6% during the forecast period of 2024 to 2029.

BCC Research

This report provides an overview of the global market for AI in clinical and molecular diagnostics, covering market size, growth trends, and key applications such as medical imaging, genomics, and lab testing. It focuses on the factors driving AI adoption, challenges, and opportunities, along with profiles of leading companies and regional insights. Emerging trends in personalized medicine and telehealth are also discussed, making this report a valuable resource for healthcare providers, tech developers, and policymakers.

Interesting and surprising facts:

Two Powerful Ways AI is Revolutionizing Healthcare Diagnostics

  1. Predicting Disease Before Symptoms Appear
    AI can analyze your genetic data to identify potential health risks, even before you show any symptoms. This means doctors can take preventive measures to keep you healthy.
  2. Unlocking Hidden Insights in Medical Records
    AI's language processing abilities allow it to read and understand doctor's notes, extracting valuable information that might have been overlooked. This helps doctors make more accurate diagnoses, develop personalized treatment plans and improve patient care.

Factors contributing to the growth include:

  1. Investment in the AI health sector.: Investment in the AI health sector involves funding AI technologies that help doctors diagnose diseases quicker, and improve treatments and healthcare efficiency. Companies, governments, and organizations are investing more in AI to boost patient care and lower costs.
  2. Increasing prevalence of chronic and infectious diseases.: The rising number of chronic diseases (such as diabetes and heart disease) and infectious diseases (such as flu and COVID-19) is putting stress on healthcare systems, creating a greater demand for improved treatments and prevention methods.
  3. Introduction of software with AI.: The introduction of AI-powered software means that new programs can learn from data, make decisions, and perform tasks such as analyzing medical images or diagnosing diseases more accurately and efficiently, making processes faster and smarter.
  4. Opportunities in developing markets.: Opportunities in developing markets refer to the potential for businesses to grow in countries with expanding economies, especially in sectors such as healthcare and technology. Companies can invest by offering products or services, such as AI in healthcare, to meet growing demand and improve living standards in these regions.

Sample Copy of the AI in Clinical and Molecular Diagnostics Market Report

Report Synopsis

Report Metric

Details

Base year considered

2023

Forecast period considered

2024-2029

Base year market size

$2.3 billion

Market size forecast

$8.9 billion

Growth rate

CAGR of 27.6% for the forecast period of 2024-2029

Segments covered

Type, Component, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World

Countries covered

U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, China, India, Japan, Australia, Singapore, South Korea

Market drivers

•         Investment in the AI health sector

•         Increasing prevalence of chronic and infectious diseases

•         Introduction of software with AI

•         Opportunities in developing markets

 

This report addresses the following key questions:

  1. What is the projected size and growth rate of the global market for AI in clinical and molecular diagnostics?
    The market is projected to grow from $2.6 billion in 2024 to $8.9 billion by the end of 2029, at a compound annual growth rate (CAGR) of 27.6% during the forecast period.
  2.  Which market segments are covered in the report?
    The AI in clinical and molecular diagnostics market is segmented based on type, component, and region.
  3. By type, which segment will dominate the market by the end of 2029?
    By type, molecular diagnostics is expected to contribute the highest share of the market by the end of 2029.
  4. Which component is growing fastest?
    Software is the fastest growing component.

Leading companies in the market include:

Directly purchase a copy of the report from BCC Research.

For further information on these reports or to purchase one, please contact  info@bccresearch.com.

About BCC Research 

BCC Research market research reports provide objective, unbiased measurement and assessment of market opportunities. Our experienced industry analysts' goal is to help readers make informed business decisions, free of noise and hype. 

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