Artificial intelligence (AI) uses algorithms and software to perform certain tasks without human intervention and instructions. Artificial intelligence comprises integration of several technologies such as machine learning, natural language processing, reasoning, and perception. Artificial intelligence is used in healthcare for approximation of human cognition and analysis of complex medical and diagnostic imaging data. The artificial intelligence in the healthcare diagnosis market is driven by the ability of AI to improve patient outcomes, need to increase coordination between healthcare workforce & patients. Moreover, a rise in the importance of big data in healthcare, an increase in the adoption of precision medicine, and a notable rise in venture capital investments is expected to fuel market growth.
General Electric Company, Aidoc, Arterys Inc., icometrix, IDx Technologies Inc, MaxQ AI Ltd., Caption Health, Inc, Zebra Medical Vision, Inc., Siemens Healthineers AG, Koninklijke Philips N.V are the most notable market participants occupying a considerable share of the market.
Market leaders are involved in inorganic activities such as partnerships and acquisitions to improve their performance and consolidate the market position. For instance, in May 2020, IDx Technologies Inc. and Topcon Healthcare Solutions entered into a partnership. This partnership aimed to expand the Harmony imaging platform, including the IDx-DR, a state-of-the-art AI system that used to detect diabetic retinopathy in digital fundus images for its European customers.
General Electric Company. and Siemens Healthineers AG. – Notable Market Participants in Artificial Intelligence in Healthcare Diagnosis Industry
Prominent players in the artificial intelligence in healthcare diagnosis market are focusing on organic strategies such as product launch, product approval, and geographic and manufacturing expansion. These strategies are helping market players to strengthen their market positions along with widening their geographic footprints. Additionally, various companies are undergoing other strategic alliances such as acquisitions to garner their significance and remain competitive in the market. A few of the essential vital developments from the industry are mentioned below:
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Year |
News |
Region |
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2020 |
Zebra Medical Vision, Inc. entered into a collaboration with Apollo Hospitals chain, for the deployment of AI-based tools at scale across India, supported by the ‘India-Israel Industrial R&D and Technological Innovation Fund.’ Moreover, this deployment of the intracranial hemorrhage, the AI COVID-19 solution will in anticipated collaboration on additional medical findings, such as tuberculosis (TB). |
Europe |
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2020 |
Siemens Healthineers AG introduced Ysio X.pree x-ray system that supports image acquisition using AI. The product is AI-Rad Companion Chest X-ray software offers decision support for radiographic thorax images with AI |
Europe |
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2020 |
Aidoc received approval from the U.S. Food and Drug Administration for the use of company’s algorithms for “adjunctive” detection of findings associated with COVID-19. This solution is among the supporting the models for the traditional COVID-19 diagnostic tests, such as serological tests and nasopharyngeal swabs, and others. |
America |
