Artificial Intelligence/Machine Learning in the Medical Device Market Report: Trends, Forecast and Competitive Analysis to 2030

Artificial Intelligence/Machine Learning in the Medical Device Market Report: Trends, Forecast and Competitive Analysis to 2030

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?

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