Digital Diagnostics Market Size, Share, and Analysis, By Product & Services (Hardware and Software & Services), By Application (Cardiology, Gynecology, Infectious Diseases, Oncology, Diabetes, and Others), By End-User (Hospitals & ASCs, Clinical Laboratories, Academic & Research Institutes, and Others), and Regional Forecast, 2025-2032

The diagnostics industry has witnessed significant transformation in recent years owing to the introduction of advanced technologies and increasing commitment toward providing enhanced patient outcomes. The integration of artificial intelligence has transformed the accessibility, affordability, and quality of healthcare through the application of technology in medical diagnosis and treatment procedures. In addition, these are important tools for responding to the challenges faced by primary care systems while aligning with healthcare professionals and patients’ needs.

Furthermore, the increasing adoption of advanced technologies for early diagnosis and growing initiatives by key market players, such as new product launches and mergers & acquisitions, are contributing to the digital diagnostics market growth.

• For instance, in January 2024, GE Healthcare acquired MIM Software, a medical imaging analysis and artificial intelligence (AI) solutions provider, to strengthen the company’s digital solutions. The company aims to leverage MIM Software’s imaging analytics and digital workflow capabilities across several care segments, such as diagnostic imaging, radiation oncology and others, to accelerate innovation in the healthcare system.

Moreover, the growing prevalence of chronic diseases has increased the need for innovative and advanced diagnostic technologies. According to data published by the American Cancer Society in 2023, an estimated 19,58,310 new cancer cases are registered in the U.S. The increasing cases of cancer would lead to a growing preference for advanced technologies among the population for better patient outcomes, which would further impact the market growth positively.

Impact of COVID-19 on the Digital Diagnostics Market

During the COVID-19 pandemic, the global digital diagnostics market experienced slower growth compared to the pre-pandemic era. The growth was due to less awareness about these technologies among the population, along with increasing concerns regarding data security and privacy. These factors limited the adoption of digital diagnostic technologies and restricted the market growth.

However, the market is projected to grow during the forecast period owing to the growing demand for digital diagnostic technologies among healthcare providers. According to the data published by the National Center for Biotechnology Information (NCBI) in 2022, most of the healthcare industry integrated artificial intelligence into its system after the pandemic as it offers reliable and fast diagnosis and screening of people with symptoms of COVID-19. Thus, growing awareness regarding the potential application of these technologies among the population will increase the adoption of digital diagnostic technologies during the forecast period.

Segmentation

Key Insights

The report covers the following key insights:

• Prevalence of Chronic Diseases, By Key Countries, 2022/2023
• Technological Advancements in Digital Diagnostics
• Key Industry Developments (Mergers, Acquisitions, Partnerships, and Others)
• Impact of COVID-19 on the Market

Analysis by Product & Services

On the basis of product & services, the software and services segment accounted for a significant market share in 2023. Most healthcare organizations rely on digital solutions to accelerate their operations and enhance patient care and overall efficacy. Therefore, for better patient outcomes, most healthcare settings are integrating advanced software, which is further contributing to the segment growth.

Furthermore, the hardware segment is expected to grow at a considerable CAGR during the forecast period. This is owing to the increasing demand for advanced diagnostic systems that can easily integrate software and provide efficient and precise results.

Regional Analysis

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North America is projected to account for a significant share of the global digital diagnostics market in 2023. The growth of the market in the region is attributed to the increasing adoption of innovative technologies, growing investments by public and private players, and rising product launches and initiatives by key market players.

• For instance, in August 2023, PathAI announced the launch of its AISightTM digital pathology image management system (IMS) for pathology laboratories. This will further provide efficient and end-to-end digital pathology workflows.

Furthermore, the Asia Pacific market is expected to grow at a significant CAGR during the forecast period. The regional expansion is attributed to the growing burden of chronic diseases coupled with the higher adoption of advanced technologies among emerging nations.

Key Players Covered

The report includes the profiles of key players such as Siemens Healthcare GmbH, GE Healthcare, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Digital Diagnostics Inc., Midmark Corporation, and others.

Key Industry Developments

• In September 2023, F. Hoffmann-La Roche Ltd., entered a definitive agreement with Burjeel Holdings, which aims to develop innovative digital solutions that would enhance digital diagnostics and patient care.
• In November 2021, Hologic, Inc. announced the launch of its Genius digital diagnostics system in the European market. The system is used to identify cervical cancer cells and pre-cancerous lesions in women.
• In May 2020, F. Hoffmann-La Roche Ltd., received CE mark for its v-TAC, a new digital diagnostic solution, which allows clinicians to receive results for arterial blood gas values from patients with respiratory abnormalities by using a digital algorithm.