Description:
The past few years have seen extraordinary advances in artificial intelligence (AI) in clinical medicine. More products have been cleared for clinical use, more new research-use-only applications have come to market, and many more are in development. In recent years, diagnostics companies, in collaboration with AI companies, have begun implementing increasingly sophisticated machine learning techniques to improve the power of data analysis for patient care. The goal is to use developed algorithms to standardize and aid the interpretation of test data by any medical professional, irrespective of expertise. This way, AI technology can assist pathologists, laboratorians, and clinicians in complex decision-making.
Kalorama’s report, Artificial Intelligence Markets in In Vitro Diagnostics (IVD), examines selected AI-based initiatives, collaborations, and tests in key IVD market segments.
Artificial Intelligence Markets in IVD contains the following important data points:
- The Market for AI in Diagnostics, 2019
- Forecasted Market for 2024
- Breakout of Market by Application, 2019 (Glucose, Histology, Microbiology, Hematology, Biomarker Diagnostic Aids)
- Breakout of Market by Components, 2019 (Hardware, Software, Services)
- Significant Partnerships and Initiatives in AI Related to In Vitro Diagnostics
Key Highlights:
Digital pathology products and diabetes management devices were the first to come to market with data interpretation applications. The last few years have seen the use of AI interpretation apps extended to a broader range of products, including microbiology, disease genetics, and cancer precision medicine. This report will review some of the AI-linked tests and test services that have come to market and others that are in development in some of the following market segments:
- Cancer Diagnostics
- Cardiac Disease Testing
- Digital Pathology
- Genetic Testing
- Glucose Monitoring
- Hematology
- Histology
- Information Technology (including Electronic Medical Records)
- Liquid Biopsy
- Microbiology
- Microbiome
- Molecular Diagnostics
- Next-Generation Sequencing
- Point of Care
- Transplant Risk Testing
- Urinalysis
Applications of AI:
Applications of AI are evolving to predict outcomes such as diagnosis, death, or hospital readmission; to improve upon standard risk assessment tools; to elucidate factors that contribute to disease progression; or to advance personalized medicine by predicting a patient’s response to treatment. AI tools are in use and in development to review data and uncover patterns that can be used to improve analyses and uncover inefficiencies. Many enterprises are joining this effort.
Explore the full report to understand the transformative impact of AI on in vitro diagnostics and how these advancements are shaping the future of patient care.
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Sample Report: A sample is available as a PDF upon request.
Table: Artificial Intelligence Market in Diagnostics, Market by Component, 2019 (in millions $) (%)
| Component | 2019 | %Mkt |
| Hardware | $XX Million | XX% |
| Software | $XX Million | XX% |
| Services | $XX Million | XX% |
| Total | $XX Million | XX% |
Source: Kalorama Information
