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AI-Based Medical Diagnostic Tools Market Set to Exceed USD 11.5 Billion by 2034: Global Surge in AI Start-up Funding Expands Diagnostic Systems Integration | TMR

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AI-powered diagnostic systems deliver precise and efficient diagnoses, enabling healthcare professionals to develop timely and effective treatment plans. This integration of AI extends across various diagnostic tools, including X-rays, enhancing their capabilities on a broader scale.

WILMINGTON, Del., July 17, 2024 /PRNewswire/ — The market for AI-based medical diagnostic tools accounted for US$ 1.3 billion in 2023. A CAGR of 20.8% is expected from 2024 to 2034, culminating in a market value of US$ 11.5 billion by 2034. Medical diagnostic instruments based on AI require ongoing research and development.

In addition to enhancing the efficiency of existing algorithms, this involves investigating new artificial intelligence approaches such as deep learning, reinforcement learning, and federated learning for medical applications.

AI-based diagnostic tools can empower patients by providing them with personalized health information. Smartphone apps and AI-driven health monitoring gadgets can help patients manage their health and well-being more actively.

Medical specialists and facilities are often limited in underserved or distant places, so AI-based diagnostics can be especially helpful. Through the use of portable diagnostic devices and telemedicine platforms, Artificial Intelligence can increase access to healthcare for communities that have limited access to healthcare.

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Healthcare systems are expected to incorporate AI-based diagnostic technologies as they advance in sophistication and dependability. This integration may include seamless integration with clinical decision support systems and electronic health records (EHR) in order to speed up diagnosis for healthcare practitioners.

Key Findings of the Market Report

AI-based medical diagnostic tools will be created in the market by the software segment.As consumers become more likely to suffer from cancer, demand for oncology AI-based medical diagnostics tools will increase.In 2023, diagnostic laboratories held the largest share of the market.In 2023, North America dominated the market in terms of market share.

Global AI-based Medical Diagnostic Tools Market: Growth Drivers

Increasing chronic illness prevalence and an expanding need for accurate and timely diagnosis are two contributing factors. With AI-powered diagnostic tools, health care providers can detect diseases earlier and treat them more effectively, thus improving their accuracy, efficiency, and speed of diagnosis. Diabetes, cancer, and cardiovascular diseases are a few of the chronic diseases that have increased the need for novel diagnostic methods.AI-based diagnostic tools are becoming easier to incorporate into clinical practice as electronic health records (EHRs) become more widely adopted and data access increases.AI algorithms are being assessed and trained using substantial amounts of patient data by healthcare organizations and providers. As a result, diagnostic instruments that are more reliable and beneficial therapeutically are being developed.The healthcare sector is also embracing AI-based diagnostic tools on a larger scale as regulatory agencies become more aware of its potential to improve patient outcomes and reduce healthcare costs.As a result, AI-based medical diagnostics have a lot of potential for improving the accuracy, efficiency, and personalized treatment of patients, so they’re a great fit for the future.

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AI-based Medical Diagnostic Tools Market Report Scope:

Report Coverage

Details 

Forecast Period  

2024-2034

Base Year  

2020-2022

Size in 2023

US$ 1.3 Bn

Forecast (Value) in 2034

US$ 11.5 Bn

Growth Rate (CAGR) 

20.8 %

No. of Pages 

156 Pages 

Segments covered 

By Component, By Application, By Region, By End-user

Global AI-based Medical Diagnostic Tools Market: Regional Landscape

Artificial intelligence-based medical diagnostic technologies are undergoing rapid scientific advancements in North America. AI-driven diagnostic technology is gradually being integrated into clinical operations in the area in order to improve patient outcomes and increase productivity.Regulatory agencies like Health Canada and the Food and Drug Administration (FDA) in the United States and Canada approve and oversee medical devices and diagnostic tools. The development of AI-based diagnostics in the future will be influenced by the way these regulatory bodies adapt their approval procedures to take into account the rapidly developing AI technologies while maintaining patient safety and efficacy.In North America, regulatory agencies such as the Food and Drug Administration (FDA) are essential to guaranteeing the security and efficacy of medical diagnostic devices powered by artificial intelligence (AI). To help businesses launch their products while maintaining patient safety and data security, the FDA has set guidelines for the validation and oversight of AI algorithms used in medical diagnostics. Because of this, North America continues to lead the way in AI-driven innovation in medical diagnostics, and further growth and adoption are anticipated.

Global AI-based Medical Diagnostic Tools Market: Competitive Landscape

AI-based medical diagnostic tool companies are expanding their customer bases through inorganic expansion. Brain tumors can be accurately detected by AI-based tools developed by medical diagnostic companies.

Key Players Profiled

MicrosoftNvidia CorporationMerative L.P.Alphabet Inc.Intel CorporationSiemens HealthineersGE HealthCareAdvanced Micro Devices Inc.Koninklijke Philips N.V.InformAI

Key Developments

In October 2023, Microsoft launched new data and artificial intelligence solutions for healthcare organizations to unlock insights and improve patient care.In December 2023, Nvidia launched a series of cloud APIs that accelerate AI model development and deployment for medical imaging applications. Using Nvidia’s open-source Monai framework, the new offering extends Monai with cloud-native capabilities.

Global AI-based Medical Diagnostic Tools Market: Segmentation

By Component

SoftwareServicesHardwareMemoryOthers (Network, etc.)

By Application

RadiologyCardiologyNeurologyOncologyOthers (Ophthalmology, Gynecology, etc.)

By End User

HospitalsDiagnostic LaboratoriesOthers (Ambulatory Surgical Centers, etc.)

By Region

North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa

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More Trending Reports by Transparency Market Research –

X-ray Detectors Market – The global market was worth US$ 2.5 Bn and is projected to reach a value of US$ 4.6 Bn by the end of 2031

Electronic Health Records (EHR) Market – The global market is forecasted to experience robust growth, reaching over US$ 48.3 billion by 2031, with a projected CAGR of 6.5% from 2023 onwards.

 Digital Biomarkers Market: Digital Biomarkers Market is expected to grow at a CAGR of 31.4% from 2024 to 2034 and reach US$ 43.3 Bn by the end of 2034

Clinical Data Analytics Market: Clinical Data Analytics Market is expected to grow at a CAGR of 39.7% from 2024 to 2034 and reach US$ 614.7 Bn by the end of 2034

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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CellPoint Digital Launches its APM Hub, Connecting Airlines and Travel Merchants to 168 Global Alternative Payment Methods

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Built to meet the needs of global travel companies and their customers, the APM Hub delivers fast, simplified access to critical alternative payment solutions in every market

LONDON, Sept. 25, 2024 /PRNewswire/ — CellPoint Digital, the leading provider of payment solutions to the airline industry and a global pioneer of Payment Orchestration, is launching its new APM Hub, a comprehensive suite of 168 global alternative payment methods (APMs) available to existing CellPoint Digital clients through a centralised contracting and onboarding process. Recognising the business-critical role APMs play for airlines and travel providers, the APM Hub streamlines and accelerates access to these important payment options, offering a faster time-to-market and simplified integration.

The APM Hub officially launches in early Q4 2024, giving CellPoint Digital customers access to 168 of the most critical alternative payment methods worldwide. By partnering closely with merchants, CellPoint Digital ensures a simplified, single-integration solution and built-in redundancy across its entire ecosystem, providing merchants with a more reliable and resilient payment infrastructure.

Latin America and the EU will be the first regions to go live, with further expansion into the Middle East, Africa, and Asia Pacific planned for late 2024 and continuing into 2025. Airlines such as Arajet, along with many others, are set to benefit significantly from the launch of the APM Hub, enhancing their payment capabilities and customer experience.

Tom Randklev, Global Head of Product at CellPoint Digital, said: “The launch of the APM Hub underscores the growing importance of APMs in what merchants need to offer. We’re committed to investing in these solutions today to help drive future business growth—for our partners and ourselves.”

Growing Demand and Opportunity for APMs in Travel

APMs, including digital wallets, cash vouchers, bank transfers, and Buy Now, Pay Later (BNPL), are rapidly gaining popularity with consumers worldwide. This surge in demand is prompting merchants across industries to offer more APMs to their customers, spurring innovation in the payments sector with new options continuously emerging.

The need to support APMs is especially urgent in the travel industry. According to CellPoint Digital’s airline payments report, Payments Come of Age, one in three full-service carriers (FSCs) and nearly half of low-cost carriers (LCCs) currently do not accept APMs. Moreover, three in ten airlines cited the lack of available APMs and regional payment methods as their biggest payment-related challenge.

CellPoint Digital’s new APM Hub is designed to help merchants in aviation and other travel sectors close these gaps by expanding the range of payment options they can offer travellers. By supporting local payment preferences, merchants can increase conversion rates, improve acceptance rates, and reduce cart abandonment.

The APM Hub will also enable faster and easier entry into new markets. Available to all CellPoint Digital clients and users of its Payment Orchestration Platform, the APM Hub offers access to global APMs through a single processing platform, with simplified contract addendums and partner click-through terms. CellPoint Digital provides support at every stage—from pricing and integration to onboarding and first-level customer service.

A Bridge for APM Providers to Connect with Leading Travel Brands

The hub opens new opportunities for APM providers to reach customers from many leading airline and travel brands. Head of Partnerships at CellPoint Digital, Andy Sale, said: “By consolidating all APMs into a single hub, we’ll drive greater adoption among our merchants and further solidify CellPoint Digital’s position as the go-to provider for APMs in the airline and travel industry”.

“We’re excited to lead the way and partner with leading players in the APM space, which we believe will quickly become a key player in the alternative payments ecosystem.”

For more information about CellPoint Digital’s APM Hub or to schedule an interview with Global Head of Product Tom Randklev, please get in touch with Steven Osei at steven.osei@cellpointdigital.com 

About CellPoint Digital   
CellPoint Digital is a fintech leader whose main solution is a Payment Orchestration Platform optimising digital payment transactions. Merchants can scale their payment ecosystem across the world, unify the customer payment experience across their website and other channels and optimise the routing of each transaction. Visit www.cellpointdigital.com to learn more. 

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ScamAdviser to Enhance Scam Protection for Global Businesses with the World’s Most Powerful Anti-scam AI Engine

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AMSTERDAM, Sept. 25, 2024 /PRNewswire/ — ScamAdviser today announced a strategic integration with solutions from leading TrustTech company Gogolook, the developer of Whoscall, to combine cutting-edge risk analysis and tailored anti-scam technologies combating digital threats across phone numbers, SMS, and domains online. ScamAdviser’s extensive databases now comprise over 60 million domain records and 2.6 billion phone numbers, covering nearly all factors in digital scams and powering the most powerful anti-scam AI engine in the world.

Escalating Risks from AI-Driven Scams Targeting Businesses Worldwide

Recent Global Anti-Scam Alliance (GASA) research reveals that scams impact over 25.5% of the global population, with annual losses surpassing more than 1% of global GDP. LexisNexis reports that for every dollar lost to a scam by a customer, businesses incur costs up to four times higher due to the need to cover litigation, administration, and compensation. 

In response, Australia, the European Union, the United Kingdom, the United States, and Singapore have begun drafting regulations that require businesses to assume responsibility for customer scams and financial losses. These all demonstrated that scams have become a critical issue for businesses worldwide.

“The era of AI-driven scams has officially arrived,” said Jorij Abraham, Managing Director of ScamAdviser. “Strengthening anti-scam capabilities is now a top priority for businesses to ensure compliance, sustainability, and customer trust. As AI large language models become more accurate, the competitive edge in software will rely on key data access and specialized AI expertise. ScamAdviser’s Anti-Scam Intelligence (ASI) technology is central to our solutions, offering businesses and end-users real-time scam defense. ScamAdviser is creating the world’s largest anti-scam ecosystem, uniting over 400 government agencies, non-profits, and companies.”

Fortifying Business Scam Defense with ScamAdviser Solutions

To meet the growing demand for robust scam protection, ScamAdviser and Gogolook techniques merge into enterprise solutions, powering offerings including Anti-Scam Intelligence (ASI) Solutions, Watchmen Brand Protection service, and Identity Suite.

The ASI solution incorporates customized AI-driven anti-scam technology and a world-class scam data network into business operations, enhancing customer protection and safety. Companies can leverage these solutions through API or SDK integration to augment their existing products with advanced anti-scam capabilities or choose to have ScamAdviser directly support the creation of dedicated scam prevention services. The newly developed Deepfake Voice Detection System can identify and counter generative AI and Deepfake scams in real-time.

Watchmen Brand Protection service helps companies detect and block spoofed phone numbers, SMS, and websites, safeguarding their reputations and trust. Identity Suite uses big data to detect scams and dummy accounts, ensuring customer compliance, reducing risks, and maintaining service quality.

ScamAdviser’s technology is currently utilized by leading companies across sectors, including e-commerce, cybersecurity, and social media. Google also highlights TrustScore ratings for shoppers trying to learn more about a merchant online in several global markets. In addition, ScamAdviser offers free risk assessment services through websites for over 7 million monthly active users in Asia, Europe, and the Americas. This service will soon be available as a mobile app for users. 

Looking ahead, ScamAdviser is committed to building a global scam prevention ecosystem. Beyond integrating technology, the companies plan to drive anti-scam innovation and collaborate with governments, banks, NPOs, telecoms, and ISPs to establish a cross-border anti-scam ecosystem that addresses the evolving challenges of the AI era.

About ScamAdviser

ScamAdviser, a leading brand in global enterprise scam prevention solutions, based in Amsterdam, Netherlands. It provides global corporate clients with anti-scam technology implementation and consultancy services. Leveraging AI and a comprehensive database network, ScamAdviser has developed its own website risk rating technology. This technology is integrated with Gogolook’s enterprise scam prevention solutions and phone number database, creating the world’s most complete digital anti-scam database. 

ScamAdviser excels in implementing customized anti-scam technologies into corporate operations, helping clients protect consumers and stay ahead of global compliance trends. As a foundation member of the Global Anti-Scam Alliance, ScamAdviser’s partners and clients span across Europe, the Americas, and Asia, including law enforcement agencies, consumer protection organizations, financial institutions, telecom operators, cybersecurity service providers, and brand consultants. With the world’s largest scam database, we share insights with 400+ partners, collectively protecting more than 1 billion consumers worldwide.

For more information, please refer to: https://www.scamadviser.com 

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SOURCE ScamAdviser

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Polestar Solutions, the Leading AI & Analytics Company, Becomes Great Place to Work® Certified™ in India

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The Great Place to Work® Certification™ is the most definitive ’employer-of-choice’ recognition that companies aspire to achieve.  

NEW DELHI, Sept. 25, 2024 /PRNewswire/ — Polestar Solutions, the leading global AI & analytics solutions company that serves Fortune 1000 companies, startups and the government, announced today, that it has received the prestigious Great Place to Work® Certification™ in India (from September 2024 to September 2025). 

One of the most coveted ’employer-of-choice’ recognitions in the industry, the Great Place to Work® Certification™ reinforces Polestar Solutions’ commitment towards supporting its people, creating an exceptional workplace culture and it’s standing as one of the premier AI & analytics technology solutions employers, delivering excellence to customers.  

Commenting on the certification, Ajay Goenka, Co-Founder & CFO, at Polestar Solutions, said, “As the world continues to rapidly evolve, we recognize the importance of aligning our core values with those of our current and future employees so that they can develop their careers and succeed in an inclusive work environment. We are incredibly proud to share that we are a Great Place to Work® Certified™ organization. This certification underscores our vision of cultivating a workplace where our people – who are our biggest asset – feel valued, supported and inspired. We are committed to building a purpose-driven global organization and creating opportunities towards an empowered, inclusive and equitable work environment.” 

The Great Place to Work® Certification is the global authority on workplace culture and it is awarded to organizations that deliver excellent employee experiences and demonstrate best-in-class people practices based on a rigorous independent assessment process. As part of this assessment, Great Place to Work® measured the perceptions of Polestar Solutions’ employees using Great Place to Work® Trust Index© Employee Survey and understood the organization’s differentiating culture through the Culture Brief© and Culture Audit©. Based on the assessment by the Great Place to Work® Institute, Polestar Solutions scored exceedingly well, with a score of over 85 percent, on attributes such as High-Trust, High-Performance Culture™ – Credibility, Respect, Fairness, Pride and Camaraderie. 

“As we continue to grow and add value to our clients spread across North America, Asia Pacific, ANZ, and the UK, we are committed to consistently attracting world-class data scientists, engineers and consultants and focus on talent development. We are thrilled to be recognized as a Great Place to Work® Certified™ employer-of-choice; this coveted certification will go a long way as we focus on attracting and retaining the right talent. We plan to increase our headcount by three times in the US by the end of this year. Currently, Polestar Solutions has a team of over 600 employees globally and is committed to a 60 percent growth over the next year globally, taking its employee strength to 1000 employees,” said Asim Jamil, Head — Human Resources at Polestar Solutions. 

As Polestar Solutions helps clients navigate their digital transformation journey, it acknowledges that excellence comes from investing in its people and nurturing a workplace culture that champions fairness, equity, transparency and leadership. Learn how Polestar Solutions’ team across the globe makes an impact that matters: https://www.polestarllp.com/career  

About Polestar Solutions & Services Pvt. Ltd.

Founded in 2012 by Chetan Alsisaria (CEO & Co-Founder), Amit Alsisaria (COO & Co-Founder) and Ajay Goenka (CFO & Co-Founder), Polestar Solutions, provides industry-leading analytics & AI, data engineering, enterprise planning and Generative AI services to Fortune 1000 companies, startups and the government. Polestar Solutions works across various industries, including CPG & retail, manufacturing and pharmaceuticals, among others. Headquartered in Dallas, Texas, the company enables businesses across North Americas, Asia Pacific, ANZ, and the UK to navigate their digital transformation journeys and help succeed with their data.  

Find more information here: https://www.polestarllp.com/ 

About Great Place to Work® Institute 

Great Place to Work® Institute is a global management research and consulting firm dedicated towards enabling organizations to achieve business objectives by building better workplaces. The Great Place to Work® Institute works with over 10,000 organizations globally every year to help them create and sustain High-Trust, High-Performance cultures. Great Place to Work® also identifies & recognizes great workplaces across the globe through best workplaces lists. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.  

To learn more, visit https://www.greatplacetowork.me, and read “A Great Place to Work For All.”  

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