The Artificial Intelligence Based Medical Device Market Ecosystem is Expected to Grow at a CAGR of 25.7% by Forecast Year 2032. The market for medical equipment, which was estimated to be worth US$430 billion in 2018, is rapidly evolving as a result of the integration of numerous cutting-edge technologies, AI being one of them. It has long been predicted that the use of AI-enabled medical equipment will revolutionize both diagnosis and therapy. However, the U.S. FDA did not approve the first medical gadget, known as IDx-DR, that can autonomously use AI to diagnose a medical condition until April 2018. For the purpose of screening for diabetic retinopathy, the IDx-DR employs an AI algorithm, and the results obtained do not need to be further examined by a qualified doctor. The ecosystem for AI-enabled medical devices is poised to take off thanks to an increase in product approvals.
According to estimates, one in three persons have several chronic illnesses (MCCs). One of the main causes of rising healthcare expenditures globally is the rising burden of chronic diseases like diabetes, asthma, hypertension, etc. Thus, lowering healthcare expenses and enhancing the quality of life for individuals with chronic illnesses are two key objectives for healthcare organizations around the world. Medical equipment with AI integration makes it easier to monitor these conditions effectively and efficiently. One such ailment where the usage of AI-based medical equipment is growing is diabetes.
Global AI Enabled Medical Devices Ecosystem
During the projection period, the ecosystem for AI-enabled medical devices is anticipated to expand at a double-digit CAGR. The increase in investments made by both established firms and start-ups is the key factor fueling the growth of the AI enabled Medical Devices Ecosystem. An additional US$ 15 million investment from Bristol-Myers Squibb and Merck’s Global Health Innovation Fund helped PathAI, a provider of AI-powered technologies for pathology, raise US$ 60 million in a series B funding in April 2019.
This market research report on artificial intelligence-based medical devices provides a detailed analysis and insights into the market’s size, shares, revenues, various segments, drivers, trends, growth, and development, as well as its limiting factors and local industrial presence. The market study’s objective is to gain a complete grasp of the Healthcare and Pharmaceuticals sector as well as its potential for commercial success. In addition to an extensive table of contents, a collection of statistics, tables, and charts, and an in-depth analysis, this report on the market for artificial intelligence-based medical devices also provides data.
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Market Segmentations:
Global Artificial Intelligence Based Medical Device Market: Major Players
Siemens Healthineers AG
Johnson&Johnson
Medtronic
Micron Technologies
GE Healthcare
NVIDIA Corporation
Philips
Global Artificial Intelligence Based Medical Device Market: By Types
Machine Learning
Natural Language Processing
Context-Aware Computing
Computer Vision
Global Artificial Intelligence Based Medical Device Market: By Applications
Hospitals & Healthcare Providers
Patients
Pharmaceuticals & Biotechnology Companies
Healthcare Payers
Others
Global Artificial Intelligence Based Medical Device Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Artificial Intelligence Based Medical Device market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Artificial Intelligence Based Medical Device Market Report Contains: –
- Complete overview of the global Artificial Intelligence Based Medical Device Market.
- Top Country data and analysis for United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. It also throws light on the progress of key regional Artificial Intelligence Based Medical Device markets such as North America, Europe, Asia-Pacific, South America and Middle East and Africa.
- Description and analysis of Artificial Intelligence Based Medical Device market potential by type, Deep Dive, disruption, application capacity, end use industry.
- Impact evaluation of most important drivers and restraints, and dynamics of the global Artificial Intelligence Based Medical Device market and current trends in the enterprise.
Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
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Key Questions Answered in the Report:
- What will be the development pace of market? What is the growth rate of the global market?
- Who are the key manufacturers in the market space? Who are the world’s leading manufacturers?
- What are sales, revenue, and price analysis of the top manufacturers of market?
- Who are the distributors, traders, and dealers of market? What are the key factors driving the Global market?
- What are the market opportunities and threats faced by the vendors in the industries?
- What are deals, incomes, and value examinations by types and applications of the market?
- What are the primary factors driving market?
- What are the market’s advantages, disadvantages, and risks, as well as an overview of the market?
- Who are the Top Manufacturers in the Market in Terms of Sales, Revenue, and Price Analysis?
- Analysis of Industry Revenue, Sales, and Pricing, what is the difference between Equipment by region, type, and application?
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