The Business Research Company’s Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Global Market Report 2023 evaluates artificial intelligence or machine learning (ai/ml) medical device market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The growing application of artificial intelligence and machine learning in the field of medical devices is set to drive the global market forward. These advanced technologies have the potential to revolutionize healthcare by enhancing diagnostics, treatment plans, and patient care. The market’s trajectory toward sustainable growth remains resilient despite the ongoing economic challenges caused by the Russia-Ukraine conflict. AI and machine learning are poised to lead the way in delivering improved medical solutions, thereby boosting the market to an estimated value of $12.99 billion by 2027, with a compound annual growth rate (CAGR) of 24.4%.
Investments in healthcare AI represent a pivotal driver behind the anticipated growth of the artificial intelligence and machine learning medical device market. Healthcare AI entails the application of AI technologies to enhance healthcare practices, from diagnosis and treatment to overall patient care. The motivation for these investments stems from the transformative potential of AI and machine learning in revolutionizing healthcare delivery, enriching patient outcomes, and streamlining operational efficiency. As evident in the UK’s commitment to investing over $147.2 million (£123 million) in 86 AI technologies across three funding rounds, the recognition of AI’s transformative capabilities in healthcare is clear. With over 300,000 patients already benefiting from these initiatives, the support continues, with nearly $20.32 million (£16 million) in government funding allocated to nine promising AI healthcare technologies. Moreover, AI’s potential to identify undiagnosed rare diseases is exemplified by the $1.7 million (£1.4 million) grant awarded to Mendelian, a UK-based digital health startup. In a similar vein, US-based medical device company Medtronic received $3.18 million (£2.5 million) to further develop GI Genius, an AI-based medical device. Thus, these investments are instrumental in propelling the artificial intelligence and machine learning medical device market forward.
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The artificial intelligence or machine learning (ai/ml) medical device market segments in the report are:
1) By Product: System Or Hardware, Software-As-A Medical Devices
2) By Clinical Area: Radiology, Cardiology, Hematology, Other Clinical Areas
3) By End-User: Hospitals And Healthcare Providers, Patients, Pharmaceuticals And Biotechnology Companies, Healthcare payers, Other End-Users
Top 5 Major Key Players Are:
General Electric
Medtronic PLC
Canon Inc
Nvidia Corporation
Siemens Healthineers AG
Table Of Contents
1. Executive Summary
2. Artificial Intelligence Machine Learning Medical Device Market Characteristics
3. Artificial Intelligence Machine Learning Medical Device Market Trends And Strategies
4. Artificial Intelligence Machine Learning Medical Device Market – Macro Economic Scenario
5. Artificial Intelligence Machine Learning Medical Device Market Size And Growth
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32. Global Artificial Intelligence Machine Learning Medical Device Market Competitive Benchmarking
33. Global Artificial Intelligence Machine Learning Medical Device Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence Machine Learning Medical Device Market
35. Artificial Intelligence Machine Learning Medical Device Market Future Outlook and Potential Analysis
36. Appendix
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