We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress
Sign In
Advertise with Us

Download Mobile App




Events

ATTENTION: Due to the COVID-19 PANDEMIC, many events are being rescheduled for a later date, converted into virtual venues, or altogether cancelled. Please check with the event organizer or website prior to planning for any forthcoming event.

Global AI in Medical Diagnostics Market to Be Driven by Demand for Image Recognition in Radiology

By HospiMedica International staff writers
Posted on 12 Oct 2021
Print article
Illustration
Illustration

The global artificial intelligence (AI) in medical diagnostics market is expanding with early disease detection being one of its key applications and image recognition becoming a compelling consumer proposition that is driving AI players to zealously invest in deploying AI in radiology.

These are the latest findings of TMR Research (San Francisco, CA, USA).

AI has shown transformative potential in medical and healthcare industry. In particular, the effects of AI penetration in medical diagnostics have expanded the canvas for offering high-quality patient care. Early disease detection is one of the key applications where AI players are exploring game-changing potential and are zealously investing in deploying AI in radiology to complement conventional procedures. Image recognition is perhaps the most compelling consumer proposition in the AI in medical diagnostics market. Algorithms have been learning and unlearning and relearning signs of diseases in millions of images clinicians extract from the target population. A key trend has been outsourcing these to developing economies to save cost.

There has been a flurry of activities in deep learning algorithms to advance access to quality diagnostics and at a low cost. This can be lifesaving in the case of chronic conditions that may become fatal if not diagnosed early. Patients who are at the receiving end are those with significant cardiovascular diseases risks. Further, another factor that is driving research in AI in medical diagnostics market is the need for improving the accuracy of diagnosis, either through single or several images. The internet of medical things is making vast strides, as evident in the proliferation of AI-based apps. AI companies are keen on bridging the vast gap between demand and supply of radiologists while simultaneously reducing the cost of radiological examinations. On the whole, the key clinical proposition of AI in healthcare is the use of AI apps in the detection of diseases and advance patient-centered care.

Several recent research and development projects, including those pioneered by stalwart technology companies, show rising huge dollar inflows into the AI in medical diagnostics market such as the advent of AI-based apps that improve breast cancer detection accuracy. The prospects of AI-driven software in cancer detection present vast possibilities. Another area that holds strong prospects is the use of AI for detecting skin problems from the images of skin lesions. Such developments are expected to open up new avenues for various industry stakeholders in the AI in medical diagnostics market. Companies are also intensifying R&D efforts for leveraging the potential of AI in multiple retinal diseases.

Geographically, North America is a highly lucrative region, fuelled largely by increasing R&D in developing AI-apps for reducing the burden and prevalence of various chronic diseases. The North American market is expected to witness vast revenue streams from the efforts by players in the ecosystem to bring AI and deep learning systems from the bench to the bedside, notably in diseases that are more prevalent in countries such as the US. Asia Pacific is also a promising regional market for AI in medical diagnostics and is anticipated to make rapid strides in the near future, fueled by the growing penetration of AI in healthcare.

Related Links:
TMR Research 

Platinum Supplier
STI Test
Vivalytic Sexually Transmitted Infection (STI) Array
New
OT Light
LED 300MC
New
Sternum Saw System
MBC-709 Series
New
Portable X-Ray System
Delft Light

Print article
Radcal

Channels

Critical Care

view channel
Image: An earbud prototype that has been wired for data collection (Photo courtesy of MUSC)

Earbuds to Outperform Smartwatches in Monitoring Blood Pressure

While blood pressure cuffs are considered the most accurate method of measurement, they require the user to sit down, put on the cuff, and stay still. This can be inconvenient and may lead to errors in... Read more

Surgical Techniques

view channel
Image: New robust thermosensitive bioadhesives can improve surgical sealing (Photo courtesy of Pexels)

New Surgical Sealing Biomaterial Could Eliminate Standard Methods of Suturing and Stapling

For surgical wounds to be properly closed, the sealant material used must effectively seal on wet, slippery tissue surfaces that vary in shape and may involve tissue movement, such as an expanding lung,... Read more

Health IT

view channel
Image: Using digital data can improve health outcomes (Photo courtesy of Unsplash)

Electronic Health Records May Be Key to Improving Patient Care, Study Finds

When a patient gets transferred from a hospital to a nearby specialist or rehabilitation facility, it is often difficult for personnel at the new facility to access the patient’s electronic health records... Read more

Business

view channel
Image: The demand for endometrial ablation devices is increasing due to rising prevalence of gynecological disorders (Photo courtesy of Pexels)

Global Endometrial Ablation Market Driven by Rising Prevalence of Gynecological Disorders

Gynecological disorders, such as menorrhagia, PCOD, abnormal vaginal bleeding, affect millions of women globally every year and are on the rise. Abnormal Uterine Bleeding (AUB) is the most common disorder... Read more
Copyright © 2000-2023 Globetech Media. All rights reserved.