CHICAGO, May 3, 2024
/PRNewswire/ -- Computer Vision in Healthcare Market in
terms of revenue was estimated to be worth $3.9 billion in 2024 and is poised to reach
$11.5 billion by 2029, growing at a
CAGR of 24.0% from 2024 to 2029 according to a new report by
MarketsandMarkets™.
The market's expansion is fueled by the exponential growth of
medical imaging data which necessitates efficient analysis methods,
where computer vision techniques excel in automating and enhancing
diagnostic processes. Further, the demand for improved patient care
and outcomes fuels the adoption of AI-driven solutions, empowering
healthcare providers with precise tools for diagnosis, treatment
planning, and monitoring. Nevertheless, ensuring the accuracy and
reliability of computer vision algorithms remains a significant
challenge, especially in complex medical imaging tasks where errors
can have critical consequences. Additionally, the regulatory
landscape surrounding AI-based medical devices is evolving,
requiring stringent validation and approval processes, which can
impede the timely deployment of innovative solutions. Thus,
restraining the market.
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Browse in-depth TOC on "Computer Vision in Healthcare
Market"
505 - Tables
55 - Figures
379 -
Pages
Computer Vision in Healthcare
Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$3.9 billion
|
Estimated Value by
2029
|
$11.5
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 24.0%
|
Market Size Available
for
|
2022–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Product & Service,
Type, Applications, End User
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America and Middle East and Africa
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Computer vision
solutions for healthcare that are hosted in the cloud
|
Key Market
Drivers
|
The healthcare sector
is experiencing a growing need for computer vision
systems
|
"The largest share in the computer vision in healthcare
market, based on type, was attributed to the PC-based computer
vision systems segment in 2023."
The PC-based computer vision systems segment holds the largest
market share in the computer vision in healthcare market in 2023.
The growth of this segment is propelled by factors such as PCs
offering robust computational power, enabling real-time processing
of complex algorithms required for tasks like medical image
analysis. Also, PCs provide flexibility and scalability, allowing
users to customize hardware configurations and software solutions
according to specific requirements. This versatility makes them
adaptable to various healthcare settings, from small clinics to
large hospitals.
"In 2023, the patient activity monitoring/fall prevention
segment demonstrated the most significant growth in the computer
vision in healthcare market based on hospital management by
type."
The patient activity monitoring/fall prevention segment is
expected to experience the highest growth in the computer vision in
healthcare market. The key drivers for this growth include the
aging population worldwide that has led to an increased focus on
elderly care and fall prevention initiatives. Computer vision
systems offer non-intrusive and continuous monitoring of patients'
movements, enabling early detection of potential fall risks and
timely intervention to prevent accidents. Also, the growing
adoption of wearable devices and smart sensors integrated with
computer vision technology allows for seamless monitoring of
patients' activities both inside healthcare facilities and at home.
This remote monitoring capability enhances patient safety and
independence while reducing the burden on caregivers and healthcare
resources.
"North America accounted for
the largest share of the healthcare simulation market in
2023."
In 2023, North America held the
largest share in the computer vision in healthcare market, with
Europe and Asia Pacific following. The significant
presence of North America in the
global market can be attributed to factors such as region's strong
focus on improving patient outcomes and reducing healthcare costs
which incentivizes the integration of computer vision solutions to
streamline processes, enhance diagnostics, and optimize treatment
pathways.
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Computer Vision in Healthcare Market Dynamics:
Drivers:
- The healthcare sector is experiencing a growing need for
computer vision systems
Restraints:
- The resistance of medical practitioners towards adopting
AI-based technologies
Opportunities:
- Computer vision solutions for healthcare that are hosted in the
cloud
Challenge:
- Lack of curated data
Key Market Players of Computer Vision in Healthcare
Industry:
The key players functioning in the computer vision in healthcare
market include NVIDIA Corporation (US), Intel Corporation (US),
Microsoft Corporation (US), Advanced Micro Devices, Inc. (US),
Google, Inc. (US), Basler AG (Germany), AiCure (US), iCAD, Inc. (US), Thermo
Fisher Scientific Inc. (US), SenseTime (China), KEYENCE CORPORATION
(Japan), Assert AI (India), Artisight (US), LookDeep Inc. (US),
care.ai (US), CareView Communications (US), VirtuSense (US), Teton
(Denmark), viso.ai (Switzerland), NANO-X IMAGING LTD.
(Israel), Comofi Medtech Pvt. Ltd.
(India), Avidtechvision
(India), Roboflow, Inc. (US),
Optotune (US) and CureMetrix, Inc. (US).
The break-down of primary participants is as mentioned
below:
- By Company Type - Tier 1: 45%, Tier 2: 30%, and Tier 3:
25%
- By Designation - C-level: 42%, Director-level: 31%, and Others:
27%
- By Region - North America:
32%, Europe: 32%, Asia Pacific: 26%, Middle East & Africa: 5%, Latin
America: 5%
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Recent Developments of Computer Vision in Healthcare
Industry:
- In April 2024, iCAD partnered
with RAD-AID to enhance breast cancer detection utilizing the AI
technology in underserved regions and low- and middle-income
countries (LMICs).
- In March 2024, Microsoft and
NVIDIA have broadened their longstanding collaboration with robust
new integrations that harness cutting-edge NVIDIA generative AI and
Omniverse technologies across Microsoft Azure, Azure AI 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.
Computer Vision in Healthcare Market - Key Benefits of Buying
the Report:
This report will enrich established firms and new
entrants/smaller firms to gauge the market's pulse, which, in turn,
would help them garner a greater share of the market. Firms
purchasing the report could use one or a combination of the
below-mentioned strategies to strengthen their positions in the
market.
This report provides insights on:
- Analysis of key drivers: (Increasing demand for computer vision
systems in the healthcare industry, government initiatives to
increase the adoption of AI-based technologies), restraints
(Reluctance of medical practitioners to adopt AI-based
technologies), opportunities (Cloud-based healthcare computer
vision solutions), and challenges (Rising security concerns related
to cloud-based image processing and analytics) influencing the
growth of the computer vision in healthcare market.
- Product Development/Innovation: Detailed insights on upcoming
technologies, research & development activities, and new
product & service launches in the computer vision in healthcare
market.
- Market Development: Comprehensive information on the lucrative
emerging markets, products & services, applications, end-users,
and regions.
- Market Diversification: Exhaustive information about the
product portfolios, growing geographies, recent developments, and
investments in the computer vision in healthcare market.
- Competitive Assessment: In-depth assessment of market shares,
growth strategies, product offerings, and capabilities of the
leading players in the computer vision in healthcare market like
NVIDIA Corporation (US), Intel Corporation (US), Microsoft
Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc.
(US).
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Get access to the latest updates on Computer Vision in
Healthcare Companies and Computer Vision in Healthcare Market
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