The market is expected to witness a CAGR of 24.35% during the forecast period of 2022-2032.
Fremont, California, April 14, 2023 /PRNewswire/ — BIS Research, the global leader in providing market intelligence on deep technology, has released the latest findings. Artificial intelligence/machine learning medical device market – Global and regional analysis.
According to this study, the global artificial intelligence/machine learning (AI/ML) medical device market is $4.01 billion Projected to reach in 2022 $35.45 billion It is growing at a staggering CAGR of 24.35% by 2032.
The increasing demand for artificial intelligence/machine learning medical devices is associated with the following factors:
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Existence of a large ecosystem of companies providing AI solutions for diverse applications of AI in healthcare
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Rising demands in the fields of radiology and cardiology are driving increased adoption of AI-enabled solutions that can reduce wait times and reduce strain on the healthcare system.
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Growing Demand for Wearable Sensors to Increase Adoption of AI-Enabled Medical Devices for Home Healthcare
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Numerous Government Initiatives to Drive Research and Development of AI-Enabled Medical Devices
The detailed study is a 208-page compilation of 15 market data tables and 139 figures.
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How analysts view market forecasts
according to Swati SoudPrincipal Analyst, BIS Research, “AI in healthcare is an emerging topic with great potential to reduce wait times and reduce strain on the global healthcare system. We expect to record significant growth.”
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Radiology To Be Key Clinical Area Segment Of AI/ML Medical Devices Market
AI-enabled medical devices are being developed for a wide range of clinical applications, including radiology, cardiology, hematology, obstetrics, gastroenterology, and pathology. According to a study conducted by BIS Research, radiology held the largest share of the global artificial intelligence/machine learning medical device market, accounting for 49.05% in 2022. The survey further suggests that this trend is expected to continue, with radiology accounting for 55.36%. By 2032, from 2022 he will register his CAGR of 25.86% during the forecast period of 2032.
Integrating AI into radiology can help radiologists interpret data and confirm diagnoses. AI in radiology has been implemented for a variety of tasks, including suspicious lesion detection, image quality enhancement, image contouring and segmentation, and image reconstruction.
Major industry leader in AI/ML device market
Profiled companies are selected based on information gathered from leading experts and analyzed for company coverage, product portfolio and market penetration. Established names in the market include Aidoc Medical, Ltd., Canon Inc., CellaVision AB, Clarius Mobile Health Corp., General Electric Company, Hyperfine Inc., Koninklijke Philips NV, Medtronic plc, Nanox.AI Ltd., Paige And so on. .AI, RadNet, Inc., Shanghai United Imaging Healthcare Co., Ltd., Siemens Healthineers AG, Tempus, Viz.ai, Inc., etc.
Recent trends in the global AI/ML device market
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of October 2022Koninklijke Philips NV has received US FDA 510(k) clearance for its AI-enabled MRCAT head and neck radiation therapy application.
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of June 2022Idoc Medical Co., Ltd. $110 million Series D round of investment to use AI to address challenges facing healthcare systems.
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of June 2022, Hyperfine Inc. has received FDA 510(k) clearance for its Swoop MRI machine. The Swoop system software uses deep learning to provide sharp images for clinical diagnosis.
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of April 2022Clarius HD, a line of ultraportable scanners from Clarius Mobile Health Corp., has been approved by Health Canada.
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of March 2022procured by Clarius Mobile Health Corp. $20 million Funding to scale up commercial scale activities.
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Proprietary DeepTech MAP™ Healthcare analysis from BIS Research:
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BIS Research is a global B2B market intelligence and advisory firm focused on deep technologies and related emerging trends that could disrupt market dynamics in the near future. Each year, he publishes his intelligence survey of over 200 markets with a focus on several deep technology areas.
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