How much is the digital diagnostics market worth, and how is it expected to expand?
The digital diagnostics market size has grown exponentially in recent years. It will grow from $1.76 billion in 2024 to $2.16 billion in 2025 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to increasing investment and funding, increasing awareness and training, increasing funding for R&D, increasing emphasis on ESG factors and increasing patient-centric approaches.
The digital diagnostics market size is expected to see exponential growth in the next few years. It will grow to $4.86 billion in 2029 at a compound annual growth rate (CAGR) of 22.4%. The growth in the forecast period can be attributed to global health initiatives, globalization of healthcare, cultural shift towards digital solutions, support from healthcare institutions, and expansion of diagnostic capabilities. Major trends in the forecast period include expansion of point-of-care testing, growth of telemedicine solutions, development of advanced software solutions, expansion of digital pathology solutions, and block chain for data security.
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Which industry factors have accelerated the digital diagnostics market’s expansion?
The increasing number of chronic illness cases is expected to propel the growth of the digital diagnostics market going forward. The increasing number of chronic illness cases can be due to aging populations, rising obesity rates, sedentary lifestyles, environmental influences, and greater awareness and diagnosis of these conditions. Digital diagnostics is essential for chronic illness cases as it enables continuous monitoring, early detection of complications, and personalized treatment adjustments, improving long-term disease management and patient outcomes. For instance, in February 2024, according to the World Health Organization, a Switzerland-based intergovernmental organization, there were approximately 20 million new cancer cases and 9.7 million cancer-related deaths in 2022. With 2.5 million new cases, or 12.4% of all new cases, lung cancer was the most common type. Female breast cancer followed closely with 2.3 million cases (11.6%), then colorectal cancer with 1.9 million cases (9.6%), prostate cancer with 1.5 million cases (7.3%), and stomach cancer with 970,000 cases (4.9%). In terms of absolute burden, countries with high Human Development Index (HDI) are expected to see the largest increase in incidence, with an additional 4.8 million new cases projected for 2050 compared to 2022. Therefore, the increasing number of chronic illness cases is driving the growth of the digital diagnostics market.
What are the primary segments of the digital diagnostics market?
The digital diagnostics market covered in this report is segmented –
1) By Product: Hardware, Software, Services
2) By Application: Cardiology, Gynecology, Infectious Diseases, Oncology, Diabetes, Other Applications
3) By End-Users: Hospitals And Clinics, Clinical Laboratories, Pharmaceutical And Biotechnology Companies, Academic And Research Institutes, Other End-Users
Subsegments:
1 By Hardware: Diagnostic Devices, Wearable Devices, Sensors And Monitoring Equipment
2) By Software: Diagnostic Software, Data Analytics Software, Artificial Intelligence (AI) And Machine Learning Software, Cloud-Based Platforms
3) By Services: Diagnostic Testing Services, Telemedicine And Remote Monitoring Services, Data Management And Analytics Services
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Which firms are leading the digital diagnostics market?
Major companies operating in the digital diagnostics market are Hoffmann-La Roche Holding AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers , Koninklijke Philips N.V., General Electric Company, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Hologic Inc., bioMérieux S.A., Bio-Rad Laboratories Inc., Fulgent Genetics Inc., Guardant Health Inc., Tempus Labs Inc., Genomic Health Inc., EDX Medical Inc., PathAI Inc., Healthy.io Ltd., BrightInsight Inc., Digital Diagnostics Inc., Brainomix Limited, DnaNudge Ltd., GRAIL Inc.
Which market trends are set to define the future of the digital diagnostics market?
Major companies operating in the digital diagnostics market are focusing on developing technologically advanced products, such as digital cytology systems, to enhance diagnostic accuracy, streamline workflows, and enable remote analysis through advanced imaging and AI-driven tools. A digital cytology system is an advanced diagnostic platform that utilizes imaging technology and artificial intelligence to analyze and interpret cytological samples for accurate and efficient medical diagnoses. For instance, in February 2024, Hologic Inc., a US-based medical technology company, announced the U.S. Food and Drug Administration (FDA) approval for its Genius Digital Diagnostics System with the Genius Cervical AI algorithm. The Genius Digital Diagnostics System is the first and only FDA-cleared digital cytology platform that integrates deep-learning-based AI with advanced volumetric imaging to identify pre-cancerous lesions and cervical cancer cells. Unlike traditional methods where cervical cells collected during a Pap test are examined manually under a microscope, this system digitizes the glass slides and uses AI to highlight key cells for cytologists and pathologists to review.
Which geographic trends are shaping the digital diagnostics market, and which region has the highest market share?
North America was the largest region in the digital diagnostics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Digital Diagnostics Market Report 2025 Offer?
The digital diagnostics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Digital diagnostics refers to the use of advanced digital technologies, such as artificial intelligence (AI), machine learning, data analytics, and imaging systems, to identify, monitor, and predict health conditions with high precision and efficiency. Leveraging electronic health records (EHRs), wearable devices, and diagnostic tools enables real-time data collection, analysis, and interpretation to assist healthcare professionals in making accurate decisions.
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