Artificial Intelligence (AI) in Medical – Thematic Intelligence

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AI in Medical Market Analysis Report Overview

The medical devices industry is highly regulated and thus slow to adopt modern technologies, but it is gradually realizing the benefits of AI. Hence, the technology is now being used across the value chain for data management, remote surgery, diagnostic and procedural AI assistants, and clinical trial design.  AI has many applications in the medical market along with the potential to transform key aspects of the industry and drive innovation. Currently, an increasing number of established medical device companies and start-ups are investing in AI platforms with a common goal of aiding physicians in making faster and more reliable diagnostic decisions as the difficulty and volume of cases to be seen continue to mount.

The Artificial Intelligence (AI) in Medical thematic intelligence report assesses how AI, combined with other emerging technologies, can be used across the medical value chain. It provides an overview of the current landscape along with technology, macroeconomic, regulatory, and industry trends. The report also includes key players and highlights opportunities for the use of AI in the future. The report provides an industry-specific analysis based on GlobalData databases and surveys.

Report Pages 61
Regions Covered Global
Market Size (2022) $81.8 billion
CAGR (2022-2030) >31%
Forecast Period 2023-2027
Historical Period 2010-2022
Value Chain ·        Hardware

·        Data Management

·        Foundational AI

·        Advanced AI Capabilities

·        Delivery

Leading Adopters ·        3M

·        GE Healthcare

·        Medtronic

Specialist AI Vendors ·        CorticoMetrics

·        Enlitic

·        Nvidia

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AI in Medical – Key Trends

The main trends shaping the AI in medical theme over the next 12 to 24 months are technology trends, macroeconomic trends, regulatory trends, and industry trends.

  • Technology Trends: AI accelerators, AGI debate, quantum neural networks, and Neuromorphic computing are some of the technology trends impacting the AI in medical theme.
  • Macroeconomic Trends: AI-related talent, investment of China and the US in AI, and the trade war between the two developed nations regarding advanced tech are some of the macroeconomic trends impacting the theme.
  • Regulatory Trends: Regulatory guidelines for AI in the US and Europe, technology protectionism, and AI ethics are some of the regulatory trends impacting the theme.
  • Industry Trends: The industry trends impacting the theme include an increase in diagnostic speed and accuracy, intraoperative assistance, and predictive analytics of surgical assessment.

AI in Medical – Industry Analysis

The AI market was valued at $81.8 billion in 2022. The market is expected to achieve a CAGR of more than 31% between 2022 and 2027. AI will be a key driver of healthcare innovation in the future through various applications that include management of chronic diseases, improvement of clinical trials, medical imaging, and healthcare operational and decision support. As a result, many more companies including recognized leaders are adopting AI as part of their digital transformation strategies.

The AI in Medical industry analysis also covers:

  • Timeline

Global AI Revenue in Healthcare, Pharma, and Medical Device, 2022-2027 ($ Billion)

Global AI Revenue in Healthcare, Pharma, and Medical Device, 2022-2027 ($ Billion)

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AI in Medical - Value Chain Analysis

The AI value chain is split into five segments which are hardware, data management, foundational AI, advanced AI capabilities, and delivery.

Hardware: The hardware value chain can be further divided into semiconductors, cameras, sensors and lasers, and servers, among others. The AI hardware stack is similar to any IT system, although parts such as semiconductors, cameras, sensors, and edge equipment are very AI-specific. On the other hand, servers, storage, and networking equipment are standard and not designed specifically for AI use cases.

AI Value Chain Analysis

AI Value Chain Analysis

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Leading AI Adopters

Some of the leading medical companies currently deploying AI are:

  • 3M
  • GE Healthcare
  • Medtronic

Specialist AI Vendors in Medical Devices

Some of the specialist AI vendors in the medical devices sector are:

  • CorticoMetrics
  • Enlitic
  • Nvidia

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Medical Devices Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen. The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance. The valuation screen ranks our universe of companies within a sector based on selected valuation metrics. The risk screen ranks companies within a particular sector based on overall investment risk.

Medical Devices Sector Scorecard – Thematic Screen

Medical Devices Sector Scorecard – Thematic Screen

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GE Healthcare

Table of Contents

  • 1. Executive Summary
  • 2. Players
  • 3. Trends

    • 3.1. Technology trends
    • 3.2. Macroeconomic trends
    • 3.3. Regulatory trends
    • 3.4. Industry trends

  • 4. Industry Analysis

    • 4.1. Market size and growth forecasts
    • 4.2. Timeline

  • 5. Signals

    • 5.1. M&A trends
    • 5.2. Venture financing trends
    • 5.3. Company filing trends
    • 5.4. Hiring trends
    • 5.5. Social media trends

  • 6. AI Value Chain

    • 6.1. Hardware
    • 6.2. Data management
    • 6.3. Foundational AI
    • 6.4. Advanced AI capabilities
    • 6.5. Delivery

  • 7. Companies

    • 7.1. Leading AI adopters in medical devices
    • 7.2. Specialist AI vendors in medical devices

  • 8. Sector Scorecards

    • 8.1. Medical devices sector scorecard

  • 9. Glossary
  • 10. Further Reading
  • 11. Our Thematic Research Methodology
  • 12. About GlobalData
  • 13. Contact Us

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