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Artificial Intelligence/Machine Learning in the Medical Device Trends and Forecast
The future of the artificial intelligence/machine learning in the global medical device market looks promising with opportunities in the radiology, cardiology, and hematology markets. The artificial intelligence/machine learning in the global medical device market is expected to reach an estimated $12.9 billion by 2030 with a CAGR of 19.7% from 2024 to 2030. The major drivers for this market are existence of large ecosystem of companies offering AI solutions, rising demand in the field of radiology and cardiology, and increasing demand for wearable sensors.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Artificial Intelligence/Machine Learning in the Medical Device by Segment
The study includes a forecast for the global artificial intelligence/machine learning in the medical device by product type, clinical area, radiology by type, cardiology by type, and region.
Artificial Intelligence/Machine Learning in the Medical Device Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• System/Hardware
• Software-as-a Medical Device
Artificial Intelligence/Machine Learning in the Medical Device Market by Clinical Area [Shipment Analysis by Value from 2018 to 2030]:
• Radiology
• Cardiology
• Hematology
• Others
Artificial Intelligence/Machine Learning in the Medical Device Market by Radiology by Type [Shipment Analysis by Value from 2018 to 2030]:
• Diagnostic Assistance
• Imaging
• Image Reconstruction
• Others
Artificial Intelligence/Machine Learning in the Medical Device Market by Cardiology by Type [Shipment Analysis by Value from 2018 to 2030]:
• Electrocardiography-Based Arrhythmia Detection
• Hemodynamics and Vital Signs Monitoring
• Others
Artificial Intelligence/Machine Learning in the Medical Device Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Artificial Intelligence/Machine Learning companies in the Medical Device Market
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies artificial intelligence/machine learning companies in the medical device market cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the artificial intelligence/machine learning companies in the medical device market are profiled in this report include-
• Aidoc Medical
• Canon
• Cellavision
• Clarius Mobile Health
• General Electric Company
• Hyperfine
• Koninklijke Philips
• Medtronic
• Nanox.Ai
• Siemens Healthineers
Artificial Intelligence/Machine Learning in the Medical Device Market Insights
Lucintel forecasts that software-as-a-medical device will remain the larger segment over the forecast period.
Radiology will remain the largest segment over the forecast period because the AI in radiology supports radiologists in data interpretation and diagnostic confirmation and also helps in improving the quality of imaging, as well as picture segmentation and contouring.
North America will remain the largest region over the forecast period due to presence of healthcare ecosystem, growing funding support for AI development, and strong healthcare infrastructure in the region.
Features of the Artificial Intelligence/Machine Learning in the Global Medical Device Market
Market Size Estimates: Artificial intelligence/machine learning in the global medical device market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Artificial intelligence/machine learning in the global medical device market size by product type, clinical area, radiology by type, cardiology by type, and region in terms of value ($B).
Regional Analysis: Artificial intelligence/machine learning in the global medical device market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, clinical areas, radiology by types, cardiology by types, and regions for the artificial intelligence/machine learning in the medical device market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the artificial intelligence/machine learning in the medical device market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the artificial intelligence/machine learning in the medical device market size?
Answer: The global artificial intelligence/machine learning in the medical device market is expected to reach an estimated $12.9 billion by 2030.
Q.2 What is the growth forecast for artificial intelligence/machine learning in the medical device market?
Answer: The global artificial intelligence/machine learning in the medical device market is expected to grow with a CAGR of 19.7% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the artificial intelligence/machine learning in the medical device market?
Answer: The major drivers for this market are existence of large ecosystem of companies offering ai solutions, rising demand in the field of radiology and cardiology, and increasing demand for wearable sensors .
Q4. What are the major segments for artificial intelligence/machine learning in the medical device market?
Answer: The future of the artificial intelligence/machine learning in the medical device market looks promising with opportunities in the radiology, cardiology, and hematology markets.
Q5. Who are the key artificial intelligence/machine learning in the medical device market companies?
Answer: Some of the key artificial intelligence/machine learning in the medical device companies are as follows:
• Aidoc Medical
• Canon
• CellaVision
• Clarius Mobile Health
• General Electric Company
• Hyperfine
• Koninklijke Philips
• Medtronic
• Nanox.AI
• Siemens Healthineers
Q6. Which artificial intelligence/machine learning in the medical device market segment will be the largest in future?
Answer: Lucintel forecasts that software-as-a-medical device will remain the larger segment over the forecast period due to .
Q7. In artificial intelligence/machine learning in the medical device market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to presence of healthcare ecosystem, growing funding support for AI development, and strong healthcare infrastructure in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the artificial intelligence/machine learning in the medical device market by product type ( system/hardware and software-as-a medical device), clinical area (radiology, cardiology, hematology, and others), radiology by type (diagnostic assistance, imaging, image reconstruction, and others), cardiology by type (electrocardiography-based arrhythmia detection, hemodynamics and vital signs monitoring, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Artificial Intelligence/Machine Learning In The Medical Device Market, Artificial Intelligence/Machine Learning In The Medical Device Market Size, Artificial Intelligence/Machine Learning In The Medical Device Market Growth, Artificial Intelligence/Machine Learning In The Medical Device Market Analysis, Artificial Intelligence/Machine Learning In The Medical Device Market Report, Artificial Intelligence/Machine Learning In The Medical Device Market Share, Artificial Intelligence/Machine Learning In The Medical Device Market Trends, Artificial Intelligence/Machine Learning In The Medical Device Market Forecast, Artificial Intelligence/Machine Learning In The Medical Device Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Artificial Intelligence/Machine Learning in the Global Medical Device Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Artificial Intelligence/Machine Learning in the Medical Device Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Artificial Intelligence/Machine Learning in the Global Medical Device Market by Product Type
3.3.1: System/Hardware
3.3.2: Software-as-a Medical Device
3.4: Artificial Intelligence/Machine Learning in the Global Medical Device Market by Clinical Area
3.4.1: Radiology
3.4.2: Cardiology
3.4.3: Hematology
3.4.4: Others
3.5: Artificial Intelligence/Machine Learning in the Global Medical Device Market by Radiology by Type
3.5.1: Diagnostic Assistance
3.5.2: Imaging
3.5.3: Image Reconstruction
3.5.4: Others
3.6: Artificial Intelligence/Machine Learning in the Global Medical Device Market by Cardiology by Type
3.6.1: Electrocardiography-Based Arrhythmia Detection
3.6.2: Hemodynamics and Vital Signs Monitoring
3.6.3: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Artificial Intelligence/Machine Learning in the Global Medical Device Market by Region
4.2: Artificial Intelligence/Machine Learning in the North American Medical Device Market
4.2.2: Artificial Intelligence/Machine Learning in the North American Medical Device Market by Clinical Area: Radiology, Cardiology, Hematology, and Others
4.3: Artificial Intelligence/Machine Learning in the European Medical Device Market
4.3.1: Artificial Intelligence/Machine Learning in the European Medical Device Market by Product Type: System/Hardware and Software-as-a Medical Device
4.3.2: Artificial Intelligence/Machine Learning in the European Medical Device Market by Clinical Area: Radiology, Cardiology, Hematology, and Others
4.4: Artificial Intelligence/Machine Learning in the APAC Medical Device Market
4.4.1: Artificial Intelligence/Machine Learning in the APAC Medical Device Market by Product Type: System/Hardware and Software-as-a Medical Device
4.4.2: Artificial Intelligence/Machine Learning in the APAC Medical Device Market by Clinical Area: Radiology, Cardiology, Hematology, and Others
4.5: Artificial Intelligence/Machine Learning in the ROW Medical Device Market
4.5.1: Artificial Intelligence/Machine Learning in the ROW Medical Device Market by Product Type: System/Hardware and Software-as-a Medical Device
4.5.2: Artificial Intelligence/Machine Learning in the ROW Medical Device Market by Clinical Area: Radiology, Cardiology, Hematology, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for Artificial Intelligence/Machine Learning in the Global Medical Device Market by Product Type
6.1.2: Growth Opportunities for Artificial Intelligence/Machine Learning in the Global Medical Device Market by Clinical Area
6.1.3: Growth Opportunities for Artificial Intelligence/Machine Learning in the Global Medical Device Market by Radiology by Type
6.1.4: Growth Opportunities for Artificial Intelligence/Machine Learning in the Global Medical Device Market by Cardiology by Type
6.1.5: Growth Opportunities for Artificial Intelligence/Machine Learning in the Global Medical Device Market by Region
6.2: Emerging Trends of Artificial Intelligence/Machine Learning in the Global Medical Device Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of Artificial Intelligence/Machine Learning in the Global Medical Device Market
6.3.3: Mergers, Acquisitions, and Joint Ventures of Artificial Intelligence/Machine Learning in the Global Medical Device Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Aidoc Medical
7.2: Canon
7.3: CellaVision
7.4: Clarius Mobile Health
7.5: General Electric Company
7.6: Hyperfine
7.7: Koninklijke Philips
7.8: Medtronic
7.9: Nanox.AI
7.10: Siemens Healthineers
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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