Artificial Intelligence Diagnostics is Driven by Reduced Costs and Errors

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The artificial intelligence diagnostics market involves the application of machine learning and deep learning techniques to medical imaging and diagnostics. Artificial intelligence algorithms can analyze complex medical data such as CT scans, X-rays, pathology slides and patient records to identify diseases and make diagnoses. This reduces diagnostic time, costs and errors compared to human doctors.

The global artificial intelligence diagnostics market is estimated to be valued at US$ 1731.35 billion in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the artificial intelligence diagnostics market are Zoetis Inc., Merck & Co. Inc., Elanco, Ceva Santé Animale, Boehringer Ingelheim, Biovac, Hester Biosciences Limited, Dechra Pharmaceuticals PLC, Venky's Limited, and Phibro Animal Health Corporation, among others. These players are adopting strategies such as new product launches, collaborations and partnerships to gain market share.

The Artificial Intelligence Diagnostics Market Size is driven by the growing demand for advanced medical diagnostics due to the rising global disease burden. Artificial intelligence helps improve diagnostic precision and enables early detection of diseases, thereby increasing the demand for AI-powered diagnostics tools.

The artificial intelligence diagnostics market is also expanding globally due to the increasing adoption of digital health technologies around the world. Countries across North America, Europe, Asia Pacific and Latin America are investing heavily in the implementation of AI solutions in their healthcare systems to make diagnostics more efficient, reduce costs and improve patient outcomes.

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