India Artificial Intelligence (AI) in Diagnostics Market Analysis

India Artificial Intelligence (AI) in Diagnostics Market Analysis

$ 3999

India's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $0.02 Bn in 2022 to $0.24 Bn by 2030, registering a CAGR of 38% during the forecast period of 2022-2030. The market will be driven by the rising number of startups in AI diagnostic technology and government initiatives. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & Qure AI.

ID: IN10INDH002 CATEGORY: Digital Health GEOGRAPHY: India AUTHOR: Vidhi Upadhyay

Buy Now

India Artificial Intelligence (AI) in Diagnostics Market Executive Summary

The India Artificial Intelligence (AI) in the diagnostics market is projected to grow from $0.02 Bn in 2022 to $0.24 Bn by 2030, registering a CAGR of 38% during the forecast period of 2022-2030. According to World Health Organization (WHO) Global Health Expenditure database, health expenditure of India has grown from $60.27 per person (2.95% of GDP) in 2018 to $ 63.75 per person (3.01% of GDP) in 2019. According to the Indian Council of Medical Research's (ICMR) National Cancer Registry Project, the anticipated incidence of cancer cases in India across different states and union territories in 2020 was 1.39 Mn rising to 1.42 Mn in 2021 and 1.46 Mn in 2022.

Medical imaging is one of the key areas of interest for AI in diagnostics in India. There is an increasing need for AI-based imaging solutions to assist alleviate the radiology deficit and minimize the time and expense involved with conventional clinical diagnosis. AI-powered solutions are being developed by companies such as, Niramai, and Predible Health to increase the accuracy and speed of medical imaging diagnosis. Another use of AI in diagnostics is the creation of prediction models for illnesses such as cancer and heart disease. SigTuple, a Bengaluru-based business, is using AI to build a non-invasive diagnostic technology for identifying anomalies in blood samples, while Cardiotrack, a Mumbai-based health tech startup, is using artificial intelligence to identify heart health concerns using an ECG monitor.

india artificial intelligence in diagnostics market analysis

Market Dynamics

Market Growth Drivers

The diagnostic sector in India is highly fragmented, with more than 100,000 laboratories. In India, artificial intelligence (AI) in diagnostics is a developing field with the potential to alter healthcare delivery. Many firms, academic organisations, and startups are collaborating to create AI-based diagnostic systems for a variety of ailments.

The Indian government has also recognised the significance of AI in diagnostics and is promoting its use. The government announced the National Health Stack programme in 2018, with the goal of creating a unified digital infrastructure for healthcare delivery that incorporates the use of AI and other new technologies. In addition, the government has developed a National AI Portal to encourage collaboration and study in the field of AI.

Market Restraints

Insufficient access to essential healthcare services, including a lack of medical experts, a lack of regulatory standards, adequate training data, insufficient health spending, and, most importantly, insufficient research funding. One of the key issues is that the authority’s cash allocation is inadequate. Around 75% of the medical infrastructure is cantered in metropolitan areas, which have just 27% of the overall population—the remaining 73% of Indians lack even basic medical amenities. Around 3,000 doctors are needed in primary care facilities, and the need has expanded by 200% in the previous decade. Their restraints are highly likely to hinder the expansion of the market in India.

Competitive Landscape

Key Players

  • IBM Watson Health
  • Siemens Healthineers
  • Philips Healthcare
  • GE Healthcare
  • Google Health
  • AliveCor, Inc.
  • Riverain Technologies
  • Qure AI (IND)
  • Niramai (IND)
  • Predible Health (IND)

Notable Deals

  1. February 2023, GE HealthCare to Acquire Caption Health The acquisition adds AI-enabled image guiding to the ultrasound device portfolios of GE HealthCare's $3 billion Ultrasound division
  2. December 2022, Riverian and Thynk Health Join Together to Combat Lung Cancer Using Powerful AI and Deep Learning Technology
  3. November 2022, Google Health reached an agreement with iCAD to commercialise mammography AI

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

The government has formed the National Health Authority (NHA), which is in charge of carrying out the Ayushman Bharat programme, a government-funded health insurance programme that covers more than 100 million low-income households. The government has created a pilot programme under the Ayushman Bharat initiative to give compensation for AI-based diagnostic procedures. AI will be used in the pilot programme to identify and diagnose TB, diabetic retinopathy, and cervical cancer. The program's goal is to assess the efficacy and cost-effectiveness of AI in diagnostics and to influence future policy choices.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Artificial Intelligence (AI) in Diagnostics Market Segmentation

  • By Component Outlook Type (Revenue, USD Billion):
    • Software
    • Hardware
    • Services
  • By Diagnosis Outlook Type (Revenue, USD Billion):
    • Cardiology
    • Oncology
    • Pathology 
    • Radiology
    • Chest and Lung
    • Neurology
    • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:



Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.



Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.

We value your inquiry and offer free customization with every report to fulfil your exact research needs.

This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 27 May 2024
Updated by: Dr. Purav Gandhi

Related reports (by category)

Related reports (by geography)

subscribe to our newsletter