Artificial Intelligence Based Medical Device Market 2020 Will Emerge Globally And Grow With High CAGR by 2026 | 23.9% CAGR | Coronavirus-COVID19 Impact Analysis
The ripple effect of Coronavirus-COVID19 on the Artificial Intelligence Based Medical Device Market needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the Artificial Intelligence Based Medical Device Market. Key datasets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.
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The medical devices market, which was valued at around US$ 430 billion in 2018, is witnessing rapid evolution due to the integration of various advanced technologies, AI being one of them. The adoption of AI enabled medical devices have long been heralded as the future of diagnosis and treatment. However, it was only in April 2018, the first medical device, called IDx-DR that can autonomously use AI for the diagnosis of a medical condition, approved by the U.S. FDA. The IDx-DR uses an AI algorithm for the screening of diabetic retinopathy and the results obtained do not require an additional review by a specialized clinician. The AI enabled medical devices ecosystem is on the cusp with the increasing number of product approvals.
Following Top Key players are profiled in this Market Study:
Google, Apple Inc, Microsoft Corporation, IBM Corporation, NVIDIA Corporation, and more...
The major players operating in the Global Artificial Intelligence Based Medical Device Market Ecosystem are as follows:
Company: Google Apple Microsoft IBM NVIDIA
Total Revenue (US$ Bn) $ 136.81 $ 265.60 $110.36 $ 79.6 $ 9.71
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Global AI enabled Medical Devices Ecosystem
The AI enabled Medical devices ecosystem is expected to grow with a double digit CAGR during the forecast period. The growth of AI enabled Medical Devices Ecosystem is mainly driven by increasing investments from both established players and start-ups. In April 2019, PathAI, a provider of AI-powered technology for pathology, raised US$ 60 million in a series B funding, which was further increased by an US$ 15 million investment from Bristol-Myers Squibb and Merck's Global Health Innovation Fund.
Another medical imaging start-up Aidoc raised US$ 27 million funding in 2019. The company's product is a software that can scan and detect issues in medical images more quickly. Increasing healthcare costs and the potential of AI to help bring them down are driving the growth of the AI enabled medical devices ecosystem. However, rising concerns regarding the security of patient data may hamper the growth of the market to some extent.
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Table of Content:
Ecosystem Report - Table of Content
1. Global Artificial Intelligence Based Medical Device Ecosystem Definition
2. Scope of study
2. Executive Summary
1. Global Market Segmentation
Artificial Intelligence Based Medical Device Ecosystem Positioning
1. Global Artificial Intelligence Based Medical Device Ecosystem Snapshot
2. Global Artificial Intelligence Based Medical Device Ecosystem Segmentation
1. By Component
Artificial Intelligence Based Medical Device Ecosystem Sizing, Volume, and ASP Analysis & Forecast
1. Global Artificial Intelligence Based Medical Device Ecosystem Sizing & Volume
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