Artificial Intelligence in IVD Market Trends, Growth, Size, Analysis, Challenges, Future Outook
Artificial Intelligence in IVD Market Growth, Size, Trends Analysis - By Application, By Technology, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2025 | Report ID: MEDE2501 | Pages: 1 - 248 | Formats*: |
| Category : Medical Devices | |||
Global Artificial Intelligence in IVD Market Introduction and Overview
According to SPER Market Research, the Global Artificial Intelligence in IVD Market is estimated to reach USD 2.62 billion by 2033 with a CAGR of 22.6%.
The report includes an in-depth analysis of the Global Artificial Intelligence in IVD Market, including market size and trends, product mix, Applications, and supplier analysis. The term artificial intelligence (AI) in in-vitro diagnostics (IVD) refers to the application of machine learning and computational algorithms to the analysis, interpretation, and interpretation of diagnostic data in order to improve clinical decision-making, accuracy, and efficiency in laboratory testing and medical diagnostics. Chronic conditions including diabetes, heart disease, and cancer are becoming more commonplace worldwide. The use of AI technology to improve the efficiency, precision, and individualized treatment options for various disorders is growing. Early illness identification, improved risk assessment, and more successful management techniques are made possible by AI in IVD, which analyzes massive datasets and finds patterns that human experts might overlook.
- Deep Bio, an AI healthcare business focused on deep learning and cancer pathology, took part in the CancerX initiative, a public-private partnership launched as part of the White House Cancer Moonshot program in November 2023. This strategic cooperation achieves milestones in its goal of applying AI expertise to revolutionize the landscape of cancer detection and prognosis.\
- In November 2023, China-based companies XtalPi and CK Life Sciences announced a collaboration agreement to create miRNA-based postoperative molecular diagnostic models for prognostic risk prediction. The firms will use XtalPi's superior artificial intelligence (AI) algorithms to evaluate anonymised clinical and biomarker data from cancer patients and healthy individuals stored in CK's repository.
Market Opportunities and Challenges
Opportunities: The primary reasons driving the growth of the in-vitro diagnostics market are the high prevalence of chronic diseases, the increasing usage of point-of-care (POC) diagnostics, and the growing use of personalized healthcare and companion diagnostics. The increased prevalence of chronic diseases such as cancer and diabetes, is the key driver of market growth. Other key contributors are large firms' research and production facilities. Early cancer identification is becoming increasingly important for providing more effective and timely treatment. This will raise demand for in-vitro diagnostics, which is likely to drive market expansion over the forecast period. Furthermore, cutting-edge medical technology breakthroughs such as biosensors, lab-on-a-chip, wearables, and point-of-care diagnostics are playing an increasingly important role in healthcare.
Challenges:
High procurement costs can limit the market reach - The AI in diagnostics market confronts challenges due to high costs, such as significant initial expenditure, followed by maintenance and upgrade expenses. Because of the intricacies of the system's engineering, integrating AI into healthcare environments requires significant investment in hardware and software solutions. The expense is further increased by the requirement to regularly upgrade the systems. Additionally, significant investments are necessary for digitalization and training initiatives. Healthcare systems have already made such investments to purchase and incorporate AI solutions into healthcare environments.
Market Competitive Landscape
The market for artificial intelligence in IVD is somewhat fragmented because there are numerous companies that operate both locally and internationally. Large market participants concentrate on product launches and regulatory approval in specific nations in order to increase their market share globally. A few well-known domestic and foreign businesses with market shares are analyzed as part of the competitive landscape. These include Abbott, F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Thermo Fisher Scientific Inc, Danaher Corporation (Beckman Coulter), Sysmex Corporation, and BioMérieux.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Application, By Technology, By End User |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Abbott, F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Thermo Fisher Scientific Inc, Danaher Corporation (Beckman Coulter), Sysmex Corporation, BioMerieux, Shenzhen Mindray Bio-Medical Electronics Co, Cardinal Health, PerkinElmer. |
COVID-19 Impact on Global Artificial Intelligence in IVD Market
The significance of AI in in vitro diagnostics, especially in fields like clinical decision support and medical imaging analysis, has been brought to light by the Covid-19 outbreak. With the ability to quickly analyze chest X-rays and CT scans for the identification of lung abnormalities, artificial intelligence (AI) technologies have proved crucial in supporting the diagnosis and treatment of COVID-19 cases. In order to help healthcare practitioners manage the pandemic, AI has also made it easier to construct risk assessment tools and predictive models. The epidemic has spurred innovation and cooperation in the sector by hastening the implementation of AI in diagnosis.
Key Target Audience:
- Pathology laboratories
- Diagnostic centers
- Clinics and specialty centers
- Public health laboratories
- Healthcare professionals (pathologists, radiologists, medical technologists, etc.)
- IVD manufacturers
- AI solution providers
- Healthcare IT providers
- Pharmaceutical and biotechnology companies
Our in-depth analysis of the Global Artificial Intelligence in IVD Market includes the following segments:
| By Application: | |
| By Technology: | |
| By End User: |
Key Topics Covered in the Report:
- Global Artificial Intelligence in IVD Market Size (FY’2024-FY’2033)
- Overview of Global Artificial Intelligence in IVD Market
- Segmentation of Global Artificial Intelligence in IVD Market By Application (Oncology, Infectious Disease, Cardiology, Other Applications)
- Segmentation of Global Artificial Intelligence in IVD Market By Technology (Machine Learning, Deep Learning, Other Technologies)
- Segmentation of Global Artificial Intelligence in IVD Market By End User (Hospitals and Clinics, Diagnostic Laboratories, Other End Users)
- Statistical Snap of Global Artificial Intelligence in IVD Market
- Expansion Analysis of Global Artificial Intelligence in IVD Market
- Problems and Obstacles in Global Artificial Intelligence in IVD Market
- Competitive Landscape in the Global Artificial Intelligence in IVD Market
- Impact of COVID-19 and Demonetization on Global Artificial Intelligence in IVD Market
- Details on Current Investment in Global Artificial Intelligence in IVD Market
- Competitive Analysis of Global Artificial Intelligence in IVD Market
- Prominent Players in the Global Artificial Intelligence in IVD Market
- SWOT Analysis of Global Artificial Intelligence in IVD Market
- Global Artificial Intelligence in IVD Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Artificial Intelligence in IVD Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Artificial Intelligence in IVD Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Artificial Intelligence in IVD Market
7. Global Artificial Intelligence in IVD Market, By Application (USD Million) 2020-2033
7.1. Global Artificial Intelligence in IVD Market Size, Share and Forecast, By Application, 2020-20267.2. Global Artificial Intelligence in IVD Market Size, Share and Forecast, By Application, 2027-20337.3. Oncology7.4. Infectious Disease7.5. Cardiology7.6. Other Applications
8. Global Artificial Intelligence in IVD Market, By Technology (USD Million) 2020-2033
8.1. Global Artificial Intelligence in IVD Market Size, Share and Forecast, By Technology, 2020-20268.2. Global Artificial Intelligence in IVD Market Size, Share and Forecast, By Technology, 2027-20338.3. Machine Learning8.4. Deep Learning8.5. Other Technologies
9. Global Artificial Intelligence in IVD Market, By End User (USD Million) 2020-2033
9.1. Global Artificial Intelligence in IVD Market Size, Share and Forecast, By End User, 2020-20269.2. Global Artificial Intelligence in IVD Market Size, Share and Forecast, By End User, 2027-20339.3. Hospitals and Clinics9.4. Diagnostic Laboratories9.5. Other End Users
10. Global Artificial Intelligence in IVD Market Forecast, 2020-2033 (USD Million)
10.1. Global Artificial Intelligence in IVD Market Size and Market Share
11. Global Artificial Intelligence in IVD Market, By Region, 2020-2033 (USD Million)
11.1. Global Artificial Intelligence in IVD Market Size and Market Share By Region (2020-2026)11.2. Global Artificial Intelligence in IVD Market Size and Market Share By Region (2027-2033)11.3. Asia-Pacific11.3.1. Australia11.3.2. China11.3.3. India11.3.4. Japan11.3.5. South Korea11.3.6. Rest of Asia-Pacific11.4. Europe11.4.1. France11.4.2. Germany11.4.3. Italy11.4.4. Spain11.4.5. United Kingdom11.4.6. Rest of Europe11.5. Middle East and Africa11.5.1. Kingdom of Saudi Arabia11.5.2. United Arab Emirates11.5.3. Qatar11.5.4. South Africa11.5.5. Egypt11.5.6. Morocco11.5.7. Nigeria11.6. North America11.5.8. Rest of Middle-East and Africa11.6.1. Canada11.6.2. Mexico11.6.3. United States11.7. Latin America11.7.1. Argentina11.7.2. Brazil11.7.3. Rest of Latin America
12. Company Profile
12.1. Abbott12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. F. Hoffmann-La Roche Ltd12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. Siemens Healthineers AG12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. Thermo Fisher Scientific Inc12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. Danaher Corporation12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. Sysmex Corporation12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. BioMerieux
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. Shenzhen Mindray Bio-Medical Electronics Co12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. Cardinal Health12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. PerkinElmer12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Artificial Intelligence in IVD Market is projected to reach USD 2.62 billion by 2033, growing at a CAGR of 22.6% during the forecast period.
Artificial Intelligence in IVD Market grew in Market size from 2024. The Market is expected to reach USD 2.62 billion by 2033, at a CAGR of 22.6% during the forecast period.
Artificial Intelligence in IVD Market CAGR of 22.6% during the forecast period.
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Artificial Intelligence in IVD Market size is USD 2.62 billion from 2024 to 2033.
Artificial Intelligence in IVD Market is covered By Application, By Technology, By End User
The North America is anticipated to have the highest Market share in the Artificial Intelligence in IVD Market.
The Key players in the Market include Companies Covered Abbott, F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Thermo Fisher Scientific Inc, Danaher Corporation (Beckman Coulter), Sysmex Corporation, BioMerieux, Shenzhen Mindray Bio-Medical Electronics Co, Cardinal Health, PerkinElmer.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
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