Artificial Intelligence Based Medical Device Market Segmentation by Application, Technology & Market Analysis Research Report To 2026

The Global Artificial Intelligence Based Medical Device Market Ecosystem was valued at US$ 2.1 Bn in 2018 and is expected to reach US$ XX Bn by the year 2026, growing at a CAGR of 23.9% by 2023.
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The Artificial Intelligence Based Medical Device Market Ecosystem iss Expected to Grow at a CAGR of 25.7% by Forecast Year 2027. 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.

Market Segmentation:
Following Top Key players are profiled in this Market Study:
Google, Apple Inc., Microsoft Corporation, IBM Corporation, NVIDIA Corporation and more…

End-Use Industry: Predictive Maintenance/Self Diagnostics, Virtual Assistance, Network Operations & Monitoring Management, Others

AI-based medical imaging systems is another space where many leading players are investing. GE healthcare, a global leader in the medical imaging devices market, is leveraging AI to improve the accuracy and speed of CT scans, along with its partner NVIDIA. As medical devices undergo changes, it is expected that the regulatory bodies respond to these changes and upgrade/alter the way such devices are approved. In 2019, the U.S. FDA has published changes in its approval process for AI/ML-based medical devices and for software as a Medical Device (SaMD).

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Artificial Intelligence Based Medical Device MARKET 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.Introduction
1.Global Artificial Intelligence Based Medical Device Market Ecosystem Definition
2.Scope of study 
2.Executive Summary
1.Global Market Segmentation
Artificial Intelligence Based Medical Device Market Ecosystem Positioning
1.Global Artificial Intelligence Based Medical Device Market Ecosystem Snapshot

2.Global Artificial Intelligence Based Medical Device Market Ecosystem Segmentation
1.By Component
Artificial Intelligence Based Medical Device Market Ecosystem Sizing, Volume, and ASP Analysis & Forecast
1.Global Artificial Intelligence Based Medical Device Market Ecosystem Sizing & Volume
1.Cross-segmentation
And More…

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