The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global AI in medical devices market 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 market size is expected to reach $66.35 billion in 2027 at a CAGR of 44.04%.

North America held the largest AI in medical devices market share.

AI In Medical Devices Market Driver

The increasing demand for wearables is projected to drive the expansion of AI in the medical device market in the future. Wearables are small electronic devices that can collect and measure physical activity, monitor health parameters, and display information while worn on or within the body. Wearable medical devices can benefit from AI integration to improve functionality and deliver more personalised and precise health monitoring. Furthermore, AI-powered wearables can detect and alert users to potentially harmful health issues such as irregular heart rhythms or falls. As a result, these aspects promote AI in the medical device industry. According to Vicert d.o.o., a US-based IT services and IT consulting company, 30 percent of US consumers were utilising wearable technology for healthcare in 2020, and around 50 percent of users relied on this technology on a daily basis. AI smartwatches are used for fitness and health by nine out of ten (92 percent) users. In addition, in 2021, 533.6 million AI medical gadgets were shipped. As a result, the increased demand for wearables will drive the expansion of AI in the medical device industry in the future.

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Prominent AI In Medical Devices Market Trend

Technological advances are a prominent trend that is gaining traction in the AI in medical devices market. To maintain their market position, major firms in the AI in medical devices market are implementing new technologies. enabling example, Nvidia Corporation., a computer hardware manufacturing firm based in the United States, announced the Clara Holoscan MGX in March 2022, a platform enabling the medical device sector to create and deploy real-time AI applications at the edge. This cutting-edge technological platform includes a number of features aimed to assist enterprises in developing and bringing to market medical devices with advanced AI capabilities such as image and signal processing, natural language processing, and predictive analytics. Furthermore, to secure the safety and privacy of patient data, this platform has extensive security measures and compliance with healthcare sector rules. This may process medical data in real time and provide clinical decision-making insights.

AI In Medical Devices Market Prominent Players

Major players 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.

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Key AI In Medical Devices Market Segments

The global AI in medical devices market is segmented –

1) By Deployment: Cloud, On-Premise

2) By Technology: Context Awareness, Deep learning, Machine learning, Natural Language Processing, Predictive Analytics, Other Technologies

3) By Offerings: Hardware, Software, Services

4) By Application: Patient care, Treatment, Diagnosis And Monitoring, Other Applications

5) By End-User: Hospitals And Healthcare Providers, Patients, Pharmaceuticals And Biotechnology Companies, Healthcare Payers, Other End Users

The AI In Medical Devices Global Market Report 2023  provides a comprehensive overview on the AI in medical devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the AI in medical devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Wearable Medical Devices Global Market Report 2023

Artificial Intelligence Global Market Report 2023

Artificial Intelligence Services Global Market Report 2023

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