AI in Medical Diagnostics 2020-2030: Image Recognition, Players, Clinical Applications, Forecasts: IDTechEx

Between 2010-2014, the field of image recognition and analysis was revolutionised by the introduction of deep learning, which enabled unprecedented performance leaps. These rapid advancements are fuelling the development of automated, accurate, accessible, and cost-effective medical diagnostics. Since 2010, over 60 entities including 40 new firms globally have set out to capitalise on these technological advances, seeking to commercialise AI-based diagnostics services in fields such as cancer and cardiovascular disease (CVD). More than $2.2 billion has been invested in new start-ups, with the investment since 2017 being 200% higher than the total since 2010. IDTechEx expects the market for AI-enabled image-based medical diagnostics to grow by nearly 10,000% until 2040 whilst the global addressable market (scan volume regardless of processing method) will grow by 50%.