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AI In-Vitro Diagnostics Market

Smart or AI IVD Market Size, Share & Trends Analysis Report By Application Area (Cancer Diagnostics, Infectious Disease Testing, Metabolic Testing, Cardiac Testing, Diabetes Testing, and Other Disease Testing), By Technology (Next-Generation Sequencing (NGS)Technology, PCR Technology, Chemistry/IA Technology, Pathology Technology, and Other Technology), By End-User, By Region, And Segment Forecasts, 2023-2031

Report ID : 1773 | Published : 2024-02-02 | Pages: 180 | Format: PDF/EXCEL

The Global Smart or AI In-Vitro Diagnostics Market Size is predicted to witness a 14.8% CAGR during the forecast period for 2023-2031.

The healthcare sector continuously adopts innovative technological innovations that boost clinical efficiency, increase patient care, and improve diagnostic accuracy. Artificial intelligence is revolutionizing medical device development, which is used in fields including in vitro diagnostics and digital image analysis.

AI In-Vitro Diagnostics Market

AI in diagnostics helps medical professionals choose the best treatment for their patients. The major factors boosting the AI in-vitro diagnostics market growth are the high prevalence of chronic diseases, rising usage of point-of-care (POC) diagnostics, growing use of individualized healthcare, and companion diagnostics.

Additionally, the market is developing due to the increasing number of IVD (in vitro diagnostics) products being introduced by major companies. Results from IVD products with molecular diagnostic capabilities are precise and effective. In areas like APAC, which is heavily dominated by local firms providing instruments at lower prices, the penetration of IVD goods from established players is minimal. The mobility, accuracy, and cost-effectiveness of technological developments are anticipated to be key factors driving this market. 

Competitive Landscape:

The Smart or AI In-Vitro Diagnostics market Players:

  • Adaptive Biotechnologies
  • Aidoc
  • Anumana
  • ARUP Laboratories
  • Atomwise
  • Bayesian Health
  • Behold.ai
  • BGI Genomics Co. Ltd
  • bioMérieux Diagnostics
  • Bio-Rad Laboratories, Inc
  • Cambridge Cognition
  • Cardiologs (Phillips)
  • CareDx
  • Caris Molecular Diagnostics
  • Cleerly
  • ClosedLoop AI
  • CloudMedX Health
  • Deepcell
  • Digital Diagnostics
  • EKF Diagnostics Holdings
  • Freenome
  • GE Healthcare
  • Glooko
  • Idoven
  • Illumina
  • Infohealth
  • Jade
  • K Health
  • Lunit
  • MaxCyte
  • Mayo Clinic Laboratories
  • Medtronic
  • Merative
  • Nanox
  • NIOX Group
  • Niramai Health Analytix
  • NVIDIA
  • Oncohost
  • OraLiva
  • Owkin
  • Oxford Nanopore Technologies
  • Pacific Biosciences
  • Paige.AI
  • PathAI
  • Perthera
  • Philips Healthcare
  • Prognos
  • Qiagen
  • Qure.ai
  • Renalytix
  • Seegene
  • Siemens Healthineers
  • Sophia Genetics
  • Sysmex
  • Viz.ai 

Market Segmentation:

The Smart or AI In-Vitro Diagnostics market is segmented based on application, technology and end-user. Based on application, the market is segmented as Cancer Diagnostics, Infectious Disease Testing, Metabolic Testing, Cardiac Testing, Diabetes Testing, and Other Disease Testing. Technology Segment includes Next-Generation Sequencing (NGS)Technology, PCR Technology, Chemistry/IA Technology, Pathology Technology, and Other Technology. End-user includes Research, Pharmaceutical Research, and Clinical.

Smart or AI In-Vitro Diagnostics Market Insights:

Smart or AI In-Vitro Diagnostics Market expansion is attributable to the increased incidences of chronic diseases, including cancer, diabetes and increased public awareness of the need for early disease diagnosis. The market development is also driven by the automation and digitization of radiology patient workflow, the number of diagnostic imaging treatment procedures performed in hospitals, and the augmented adoption of minimally invasive procedures to improve patient care quality. Also, the spike in testing due to covid-19 pandemic can be ascribed to the growth in IVD use. The market's growth is anticipated to be fueled by the creation of automated IVD systems for labs and hospitals to give a quick, precise, and error-free diagnosis.

The prominent players in the market are focusing on enhancing their product lines and providing clients with a wide range of cutting-edge and creative items. Under the In Vitro Diagnostic Medical Devices Regulation (IVDR) of the European Union (EU), Ibex Medical Analytics' pathology diagnostics platform, Galen Prostate, was awarded the CE mark in February 2023.The new platform was created to aid pathologists in making a preliminary prostate biopsy diagnosis. The platform uses AI to assess samples prior to pathologist review, improving pathology workflows while increasing efficiency and the accuracy of cancer detection.

The North America Smart or AI In-Vitro Diagnostics Market Holds A Significant Revenue Share In The Region

The North America Smart or AI In-Vitro Diagnostics market is expected to register the highest market share in revenue shortly. Throughout the projection period, the region is expected to continue to dominate the market. Several reasons, including the increased prevalence of chronic diseases, the fast-expanding senior population, high healthcare costs, and supportive government financing, drive the industry in this region. Recent product developments and launches by well-known corporations are predicted to lead to a rise in cancer diagnoses among patients. This is anticipated to continue to fuel market revenue growth throughout the forecast. The need for genetic testing to provide more individualized healthcare, such as that for people with diabetes and cancer, is anticipated to fuel market expansion in North America.

In addition, Asia Pacific is projected to grow rapidly in the global Smart or AI In-Vitro Diagnostics market. In vitro diagnostic tests diagnose cancer, cardiovascular problems, and infectious diseases. Various variables, such as stabilized economies, a quickly expanding middle class, pro-business government policies, and fast urbanization are expected to boost the regional market growth. 

Smart or AI In-Vitro Diagnostics Market Report Scope:

Report Attribute

Specifications

Growth rate CAGR

CAGR of 14.8 % from 2023 to 2031

Quantitative units

Representation of revenue in US$ Billion, and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Application, Technology And End-User

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

Adaptive Biotechnologies, Aidoc, Anumana, ARUP Laboratories, Atomwise, Bayesian Health, Behold.ai, BGI Genomics Co. Ltd, bioMérieux Diagnostics, Bio-Rad Laboratories, Inc, Cambridge Cognition, Cardiologs (Phillips), GE Healthcare, Medtronic and other prominent players.

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

 

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Smart or AI In-Vitro Diagnostics Market Snapshot

Chapter 4. Global Smart or AI In-Vitro Diagnostics Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Application Estimates & Trend Analysis
5.1. by Application & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:

5.2.1. Cancer Diagnostics
5.2.2. Infectious Disease Testing
5.2.3. Metabolic Testing
5.2.4. Cardiac Testing
5.2.5. Diabetes Testing
5.2.6. Other Disease Testing

Chapter 6. Market Segmentation 2: by Technology Estimates & Trend Analysis
6.1. by Technology & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Technology:

6.2.1. Next-Generation Sequencing (NGS) Technology
6.2.2. PCR Technology
6.2.3. Chemistry/IA Technology
6.2.4. Pathology Technology
6.2.5. Other Technology

Chapter 7. Market Segmentation 3: by End-user Estimates & Trend Analysis
7.1. by End-user & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-user:

7.2.1. Research
7.2.2. Pharmaceutical Research
7.2.3. Clinical

Chapter 8. Smart or AI In-Vitro Diagnostics Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.1.2. North America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
8.1.3. North America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
8.1.4. North America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.2. Europe

8.2.1. Europe Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.2.2. Europe Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
8.2.3. Europe Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
8.2.4. Europe Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.3. Asia Pacific

8.3.1. Asia Pacific Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.3.2. Asia Pacific Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
8.3.3. Asia-Pacific Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
8.3.4. Asia Pacific Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.4. Latin America

8.4.1. Latin America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.4.2. Latin America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
8.4.3. Latin America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
8.4.4. Latin America Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

8.5. Middle East & Africa

8.5.1. Middle East & Africa Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.5.2. Middle East & Africa Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
8.5.3. Middle East & Africa Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
8.5.4. Middle East & Africa Smart or AI In-Vitro Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles


9.2.1. Adaptive Biotechnologies
9.2.2. Aidoc
9.2.3. Anumana
9.2.4. ARUP Laboratories
9.2.5. Atomwise
9.2.6. Bayesian Health
9.2.7. Behold.ai
9.2.8. BGI Genomics Co. Ltd
9.2.9. bioMérieux Diagnostics
9.2.10. Bio-Rad Laboratories, Inc
9.2.11. Cambridge Cognition
9.2.12. Cardiologs (Phillips)
9.2.13. CareDx
9.2.14. Caris Molecular Diagnostics
9.2.15. Cleerly
9.2.16. ClosedLoop AI
9.2.17. CloudMedX Health
9.2.18. Deepcell
9.2.19. Digital Diagnostics
9.2.20. EKF Diagnostics Holdings
9.2.21. Freenome
9.2.22. GE Healthcare
9.2.23. Glooko
9.2.24. Idoven
9.2.25. Illumina
9.2.26. Infohealth
9.2.27. Jade
9.2.28. K Health
9.2.29. Lunit
9.2.30. MaxCyte
9.2.31. Mayo Clinic Laboratories
9.2.32. Medtronic
9.2.33. Merative
9.2.34. Nanox
9.2.35. NIOX Group
9.2.36. Niramai Health Analytix
9.2.37. NVIDIA
9.2.38. Oncohost
9.2.39. OraLiva
9.2.40. Owkin
9.2.41. Oxford Nanopore Technologies
9.2.42. Pacific Biosciences
9.2.43. Paige.AI
9.2.44. PathAI
9.2.45. Perthera
9.2.46. Philips Healthcare
9.2.47. Prognos
9.2.48. Qiagen
9.2.49. Qure.ai
9.2.50. Renalytix
9.2.51. Seegene
9.2.52. Siemens Healthineers
9.2.53. Sophia Genetics
9.2.54. Sysmex
9.2.55. Viz.ai
9.2.56. Other Prominent Players

Segmentation of Smart or AI In-Vitro Diagnostics Market-

Smart or AI In-Vitro Diagnostics Market By Application

  • Cancer Diagnostics
  • Infectious Disease Testing
  • Metabolic Testing
  • Cardiac Testing
  • Diabetes Testing
  • Other Disease Testing

AI In-Vitro Diagnostics Market

Smart or AI In-Vitro Diagnostics Market By Technology

  • Next-Generation Sequencing (NGS)Technology
  • PCR Technology
  • Chemistry/IA Technology
  • Pathology Technology
  • Other Technology

Smart or AI In-Vitro Diagnostics Market By End-user

  • Research
  • Pharmaceutical Research
  • Clinical 

Smart or AI In-Vitro Diagnostics Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

 Application

 Cancer Diagnostics

Infectious Disease Testing

Metabolic Testing

Cardiac Testing

Diabetes Testing

Other Disease Testing 

 

Technology 

Next-Generation Sequencing (NGS)Technology

PCR Technology

Chemistry/IA Technology

Pathology Technology

Other Technology

 

End-user

Research

Pharmaceutical Research

Clinical

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Smart or AI In-Vitro Diagnostics Market?

Smart or AI In-Vitro Diagnostics Market expected to grow at a 14.8% CAGR during the forecast period for 2023-2031

Adaptive Biotechnologies, Aidoc, Anumana, ARUP Laboratories, Atomwise, Bayesian Health, Behold.ai, BGI Genomics Co. Ltd, bioMérieux Diagnostics, and o

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