New artificial intelligence (AI) solutions in the medical devices industry are driving the volume of M&A deals in the sector in 2022, according to GlobalData.

Based on the current AI medical device M&A deal trends, the leading data and analytics company expects that diagnostic imaging, specialized sectors like oncology and neurology medical equipment, and in vitro diagnostics will continue to lead M&A deals in 2022 after achieving 18698, 18095, 13775 deals in 2021 respectively.

Selena Yu, Medical Devices Analyst at GlobalData, comments: “AI is being adopted in the healthcare industry to drive treatment innovation in areas like chronic disease management and optimizing operational decision making, with platforms like Nvidia’s Clara Holoscan MGX and Paige AI Inc’s Paige Lymph Node software.”

Nvidia, a leader in developing specialty AI applications, launched a new platform, Clara Holoscan MGX, designed for medical devices and computational sensing systems. The platform uses AI to support the development of novel medical devices, with the capability of processing multiple data streams simultaneously and visualizing biology in real-time. Additionally, Clara Holoscan MGX AI accelerates and simplifies research and developmental (R&D) phases, in terms of cost, quality, and time, during novel medical device development as the AI helps with decision making by analysing data to produce the most viable options for R&D.

Paige AI Inc. launched an AI medical software called Paige Lymph Node that is helping pathologists detect breast cancer metastases in lymph nodes. The software allows physicians to be more efficient in their reviews which reduces diagnosis waiting times and physician workload.

Yu adds: “Innovations in new AI platforms supported by cutting edge software will continue to grow in the medical devices sector as the healthcare industry recognizes the value of AI in machine learning, medical device and drug development, and in increasing heath care centre workflow.”