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AI In Medical Devices Market Analysis, Size, Growth And Forecast 2023-2032
AI In Medical Devices Market Report
The Business Research Company's AI In Medical Devices Global Market Report 2023 identifies the growing demand for wearables as the major driver for the AI in medical devices market's growth in the forecast period. Wearables are small electronic devices worn on or inside the body that can capture and measure things such as physical activity, monitor health metrics, or display information. AI can be integrated into wearable medical devices to enhance their functionality and provide more personalized and accurate health monitoring. Additionally, AI-powered wearables can detect and alert users to abnormal or potentially dangerous health events, such as irregular heart rhythms or falls. Therefore, these factors boost AI in the medical device market.
The global AI in medical devices market size is expected to grow from $10.64 billion in 2022 to $15.42 billion in 2023 at a compound annual growth rate (CAGR) of 44.92%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every market across the globe. The market size is expected to reach $66.35 billion in 2027 at a CAGR of 44.04%.
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Major competitors in the AI in medical devices market are General Electric Company, Medtronic Plc., Siemens Healthineers AG, Micron Technology Inc., Nvidia Corporation, Intel Corporation, International Business Machines Corporation (IBM), Amazon Web Services, Inc., Koninklijke Philips N.V., Enlitic Inc., Cloudmedx Inc., Oncora Medical Inc., Microsoft Corporation, Path AI Inc., and Aidoc Medical Ltd.
A key trend in the AI in medical devices market includes technological advancement. Major companies operating in the AI in medical devices market are adopting new technologies to sustain their position in the market. For instance, in March 2022, Nvidia Corporation., a US-based computer hardware manufacturing company, launched the Clara Holoscan MGX, a platform for the medical device industry to develop and deploy real-time AI applications at the edge. This innovative technology platform offers a range of features designed to help companies build and bring to market medical devices that incorporate advanced AI capabilities, such as image and signal processing, natural language processing, and predictive analytics. Additionally, this platform also includes advanced security features and compliance with healthcare industry regulations to ensure the safety and privacy of patient data. This can process medical data in real time and provide insights for clinical decision-making.
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The AI in medical devices market is segmented -
•By Deployment: Cloud, On-Premise
•By Technology: Context Awareness, Deep learning, Machine learning, Natural Language Processing, Predictive Analytics, Other Technologies
•By Offerings: Hardware, Software, Services
•By Application: Patient care, Treatment, Diagnosis And Monitoring, Other Applications
•By End-User: Hospitals And Healthcare Providers, Patients, Pharmaceuticals And Biotechnology Companies, Healthcare Payers, Other End Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the AI in medical devices market.
The Business Research Company's "Global AI In Medical Devices Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The AI In Medical Devices Market Include:
1. Executive Summary
2. AI In Medical Devices Market Characteristics
3. AI In Medical Devices Market Trends And Strategies
4. AI In Medical Devices Market - Macro Economic Scenario
5. AI In Medical Devices Market Size And Growth
……
26. Africa AI In Medical Devices Market
27. AI In Medical Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The AI In Medical Devices Market
29. AI In Medical Devices Market Future Outlook and Potential Analysis
30. Appendix
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