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Demand for enhanced diagnostic imaging technologies is a major element affecting computer vision in healthcare. Computer vision technologies are improving medical imaging accuracy and efficiency, driving market growth. These technologies simplify medical diagnosis and treatment of many illnesses.
Leading computer vision system manufacturers are incorporating AI and machine learning algorithms. These technologies allow computers to learn from and analyze visual data, which may improve illness diagnosis, treatment planning, and patient monitoring.
Computer vision helps enhance surgical processes by analyzing pictures in real time. The advances in augmented reality, navigation systems, and computer vision-powered robotic aid for surgeons have made it possible to increase accuracy and results in many medical procedures.
The rising popularity of remote patient monitoring affects the market. Computer vision technologies allow patients to be monitored in real time from home. Early diagnosis of health concerns and fewer hospital visits boost the healthcare business. This helps identify health issues early.
Computer vision accelerates drug discovery and development by analyzing massive biological data. Computer vision helps doctors identify medication candidates and understand their effects on cellular architecture. The research and development process speeds up.
Telemedicine's growth is affecting the healthcare computer vision industry. Computer vision technologies improve virtual consultations by enabling telehealth and remote diagnostics. Healthcare services become more accessible and convenient.
Concerns about healthcare data security and confidentiality affect business dynamics. Computer vision systems must be installed with robust data security measures to secure patient data and comply with strict privacy standards.
Information technology businesses, healthcare providers, and academic institutes are collaborating to innovate healthcare computer vision. These strategic relationships will allow us to create novel solutions to enable the widespread and successful use of computer vision in medicine.
The regulatory environment and compliance standards greatly affect the application of computer vision technologies in healthcare. If these solutions are trustworthy and secure, and meet regulatory criteria, healthcare practitioners and institutions are more likely to employ them.
Healthcare businesses are using computer vision to maximize resource use and save expenses. These solutions increase healthcare efficiency, cost-effectiveness, and diagnostic accuracy by simplifying procedures and optimizing resource use.
Pandemics have highlighted the need of computer vision and other cutting-edge technology in healthcare. Computer vision technology is being used in healthcare systems for rapid, accurate diagnosis, monitoring, and decision-making in emergencies.
Computer Vision Healthcare Market Highlights:
Global Computer Vision in Healthcare Market Overview
Computer Vision in Healthcare Market Size was valued at USD 3.18 Billion in 2023. The Global Computer Vision in Healthcare industry is projected to grow from USD 3.95 Billion in 2024 to USD 22.15 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 24.34% during the forecast period (2024 - 2032). Computer vision mainly uses algorithms to depict images and enhance the diagnostic process. They are used for various surgeries as well.
There are various advantages of computer vision in healthcare leading to the enormous growth. As a result, the demand for computer vision will be profitable for the market. According to the Computer Vision in Healthcare Market Analysis, North America will hold the largest share in the upcoming years. Furthermore, the key players are also promoting market growth at a significant rate.
In April 2024, CAD collaborated with RAD-AID to bolster breast cancer detection using Al technology in underserved regions and low- to middle-income countries (LMICs).
Furthermore, in November 2023, ICAD's Al-driven solutions facilitated the expedited detection of breast cancer through a partnership with GE Healthcare. These expanding partnerships are anticipated to drive market growth in the foreseeable future.
- In April 2024, iCAD partnered with RAD-AID to enhance breast cancer detection utilizing the Al technology in underserved regions and low- and middle-income countries (LMICs).
- In March 2024, Microsoft and NVIDIA broadened their longstanding collaboration with robust new integrations that harness cutting-edge NVIDIA generative Al and Omniverse technologies across Microsoft Azure, Azure Al services, Microsoft Fabric, and Microsoft 365.
- In February 2022, Advanced Micro Devices acquired Xilinx. This acquisition established the forefront leader in high-performance and adaptive computing, with a significantly expanded scale and the most formidable portfolio of leadership computing, graphics, and adaptive SoC products in the industry.
In May 2023, Landing Al revealed the validation-ready edition of its LandingLens platform. The new platform is highly targeted for the life sciences, pharmaceuticals, and medical device manufacturing sectors. The purpose behind launching this platform was also to speed up breakthrough solutions meant to elevate healthcare standards.
COVID-19 Analysis
The increasing transmission of coronavirus across the world has highly promoted the use of computer vision. It is because the key players developed effective solutions to detect the disease and analyze the treatment of the patients. Moreover, the lockdowns have led to an increase in screen time causing severe health concerns. Overall, the Computer Vision in Healthcare Market achieved significant growth in the years in 2019-2021.
Computer Vision in Healthcare Market Trends
Market Drivers
Several drivers are pushing the market towards growth are increasing steps taken by the government and the adoption of artificial intelligence technologies in healthcare. Along with that, the increasing use of big data technologies in healthcare will further enhance the market growth in the upcoming years.
Restraints
However, the low knowledge about the new technologies can restrain the Computer Vision in Healthcare Market Growth in the future years. In various developing and poor countries, this factor can slow down market growth.
Opportunities
Investments by key players such as partnerships, collaboration, new product launches can offer a promising future. Along with that, the increasing healthcare expenditure will further enhance the market growth in the studied forecast period.
Challenges
Furthermore, challenges such as high costs required for treatments and surgical procedures can slow down the market growth. Along with that, the poor supply chain can also affect the Computer Vision in Healthcare Market.
Cumulative Analysis
According to the Computer Vision in Healthcare Market Analysis, the Compound Annual Growth Rate will further touch up to 45.20%. The market value is further anticipated to increase up to USD 575.4 Million in the studied forecast period 2024-2032. Various drivers, key players, and market players are focusing to boost the market growth in the upcoming years.
Value Chain Analysis
The growing demand for integration of digital technology in the healthcare sector is promoting the Computer Vision in Healthcare Market Trends. Therefore, with various advantages such as improvement in diagnosis and surgeries, the market is anticipated to have lucrative growth in the upcoming years. Also, the improvement in the supply chain will further enhance the value chain of the market in the future years.
Computer Vision in Healthcare Market Segments Insights
The Computer Vision in Healthcare Market Size is segmented into Service and Products, Application, and End-User. On the basis of Service and Products, the market is segmented into Services, Software, and Software. In 2019, the software segment held the largest share in the market due to the increasing adoption of IT in healthcare sectors. Also, the hardware segment is expected to hold the second-largest share in the upcoming years.
On the basis of application, the Computer Vision in Healthcare Market is segmented into Surgeries, Medical Imaging, and Others. Previously in 2019, medical imaging systems held the largest share in this category. Therefore, this segment will also hold the highest growth in the upcoming years due to various advantages such as quality, accuracy, early detection. Along with that, surgeries segment is also anticipated to comprise a significant share in the upcoming years. It is because computer vision is used for the therapy as well as surgery of a wide range of diseases. Furthermore, the others segment consists of research, research, and patient management.
On the basis of end-user, the Computer Vision in Healthcare Market is segmented into Diagnostic Centres, Healthcare Providers, and Others. However, the segment of healthcare providers is anticipated to grow at the highest rate in the studied forecast period. Also, the diagnostic centers will comprise a significant share in the market. On the other hand, the other segment includes Ambulatory Surgical Centres and Specialty Centres.
Computer Vision in Healthcare Regional Insights
Regionally, the Computer Vision in Healthcare Market Size is further divided into Europe, Americas, Asia-Pacific, Africa, and the Middle East. The Americas region in 2019 dominated the market. Various factors such as increasing cases of cardiovascular and chronic diseases are improving the market growth. Hence, the Americas will further comprise the largest share in the forecast period.
Secondly, Europe is evaluated to hold the second-largest Computer Vision in Healthcare Market Share. It is mainly due to the increasing cases of cancer and the use of computer vision for accurate diagnosis for effective treatment.
Thirdly, the Asia-Pacific region is expected to record the fastest growth in the forecast period. The increasing expenditure by governments to improve healthcare such as the development of hospitals and cardiac institutes are some crucial driving factors. Along with that, the rise in emigrant population urbanization and growing awareness will further enhance the market growth in the forthcoming years.
Additionally, Africa and the Middle East region are also anticipated to record significant growth. The rapid development of new products and infrastructure for the aging population are the supportive factors boosting the Computer Vision in Healthcare Market Growth.
Competitive Landscape
Several companies are focusing to enhance the Computer Vision in Healthcare Market Growth. These key players do acquisitions, collaborations, mergers, etc. to enhance the market growth in upcoming years. Some of the key players in the market are as follows.
- AiCure (US)
- Microsoft (US)
- Google (US)
- Arterys, Inc. (US)
- NVIDIA (US)
- Basler AG (Germany)
- IBM Corporation (US)
- Basler AG (Germany)
- Xilinx (US)
- ICAD Inc. (US)
Recent Developments
- IBM in 2018 announced its collaboration with a company called NVIDIA to incorporate the open-source software RAPIDS for its hybrid, multi-cloud, and on-premise, in its platform of data science.
- Intel in 2018 announced its collaboration with Novartis for using DNN (Deep Neural Networks) to improve screening of high content.
- NVIDIA in 2018 announced its collaboration with a company called King’s College London. The King’s College London adopted and NVIDIA Clara and NVIDIA DGX-2 platform.
Report Overview
The report overview of the Computer Vision in Healthcare Market Outlook is listed below.
- Market Overview
- COVID-19 Analysis
- Dynamics of the Market
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Analysis
- Recent Development
Report Score and Segmentation
The report score is to provide valuable information about the Computer Vision in Healthcare Market Forecast. This report highlights the market value, estimated CAGR, challenges, drivers, recent developments, etc. Therefore, the information provided in this report is collected from various secondary and primary sources.
- Study Period- 2022-2030
- Base Year-2021
- Forecast Period- 2022-2030
- Historical Period-2020
Computer Vision in Healthcare Market Segmentation
Computer Vision in Healthcare Service and Products Outlook
- Hardware
- Software
- Service
Computer Vision in Healthcare Application Outlook
- Surgeries
- Medical Imaging and Diagnostics
- Others
- Patient Management
- Clinical Trials
- Research
Computer Vision in Healthcare End-User Outlook
- Diagnostic Centres
- Healthcare Providers
- Others
- Ambulatory Surgical Centres
- Specialty Centres
Computer Vision in Healthcare Regional Outlook
- Asia-Pacific
- Europe
- Americas
- The Middle East and Africa
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