The latest market report published by Credence Research, Inc. “Global Digital Diagnostics Market: Growth, Future Prospects, and Competitive Analysis, 2022 – 2030”. The Global Digital Diagnostics Market generated revenue of around USD 948.5 million in 2022 and is anticipated to grow a CAGR of over 13.5% during the forecast period from 2023 to 2030 to reach around USD 2027.7 million in 2030.
The healthcare industry is rapidly growing technologically; the latest is integrating artificial intelligence (AI) powered solutions. The healthcare system is overburdened with the fast increase in the population and the surge in diseases; this has driven the demand for an automated system to diagnose the disease. Digital diagnostics removes human errors and provides accurate reports to the extent that is helpful for the patient’s well-being.
The global digital diagnostics market is bifurcated into the product, diagnosis type, end user, and Geography. Based on product, the market is categorized into hardware, software, and services. Based on diagnosis type, the global market is segmented into cardiology, oncology, neurology, radiology, pathology, and others. Based on the end user, the global market is segmented into hospitals and clinics, clinics and laboratories, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global digital diagnostics market and accounted for a major market revenue share value. High demand for the product has developed in the region due to the rise in the use of social media and the increasing involvement of children in internet service. Besides, Europe accounted for the second-largest market for parental control software. The growing adoption of newer technology at a rapid pace compared to other parts of the world has increased the screen time of the younger population driving the demand for parental control software. Furthermore, Germany is home to many information technology firms; the industry is anticipated to present enormous prospects for market expansion.
The digital diagnostics market is facing several major challenges. One of the biggest challenges is the lack of standardization in the industry. This means that there are a lot of different digital diagnostic tools and devices on the market, and it can be difficult for doctors and patients to know which ones are the best. Another challenge is that many insurance companies do not cover digital diagnostic tests, which can make them very expensive for patients. Additionally, some experts worry that digital diagnostics could lead to more false positives, which could result in unnecessary anxiety and treatment.
Why Buy This Report-
- The report provides a qualitative and quantitative analysis of the global digital diagnostics market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global digital diagnostics market segmentation based on product, diagnosis type, and end user.
- Major countries in each region with their import/export statistics
- The global digital diagnostics market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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