Tag: medical devices

AI’s Flourishing Role in the Evolving Landscape of Medical Devices
Health

AI’s Flourishing Role in the Evolving Landscape of Medical Devices

The global market for Artificial Intelligence (AI) in the medical devices industry is set to grow at a compound annual growth rate (CAGR) of 29.1 per cent from $336 million in 2023 to $1.2 billion in 2027, according to a report released on Wednesday. The report by GlobalData, a data and analytics company, showed that it's driven by the demand for healthcare systems to reduce time, costs, and missed detections when diagnosing a growing number of patients with complex profiles."A common use of AI in healthcare has been in diagnostic settings, where the speed and accuracy of diagnosing difficult-to-identify image abnormalities by the human eye are flagged by AI algorithms," said Brian Hicks, Senior Analyst of Medical Devices at GlobalData, in a statement."The consequence of this is th...