Artificial Intelligence and Machine Learning Medical Device Market Technology: Growth Drivers and Key Industry Insights

Segmentation of Artificial Intelligence/Machine Learning Medical Device Market

(I-SoftwareNews.Com, February 26, 2025 ) The Artificial Intelligence Machine Learning Medical Device Market Size is valued at 5.26 billion in 2023 and is predicted to reach 27.07 billion by the year 2031 at a 22.81% CAGR during the forecast period for 2024-2031.

Global Artificial Intelligence/Machine Learning Medical Device Market 2025-2034 full Research Repot latest version is now available.

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global artificial intelligence/machine learning medical device market are:

• Increasing demand for more accurate diagnosis

• Increasing the accessibility of health data

• Advancements in machine learning

The following are the primary obstacles to the artificial intelligence/machine learning medical device market's expansion:

• High initial investment

• Intricate regulatory approval procedures

• Rising data privacy issues

Future expansion opportunities for the global artificial intelligence/machine learning medical device market include:

• Increasing integration of AI

• Growing demand for efficiency and automation in medical imaging

• Increasing investments in the development of digital health

Key Industry Insights & Findings from the Report:

• The technological advancements and the growing need for precise and effective diagnosis.

• The market for artificial intelligence/machine learning medical devices is driven by the growing availability of health data, enhanced patient outcomes, rapid technology advancements, and strategic investments in digital health innovation.

• North America dominated the market and accounted for a revenue share of global revenue in 2023.

• One of the significant concerns restraining industry growth is the required high initial investment and rising data privacy issues.

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Market Analysis:

The market for artificial intelligence and machine learning medical devices is set to grow because they will improve the accuracy of diagnoses and make treatment more personalized. Modern algorithms make it possible to quickly look at large amounts of data, which makes it easier to find diseases early and start treating them. Mote, when AI and ML are used together in imaging, robotics, and wearable tech, they improve both operating efficiency and patient outcomes.

Furthermore, adoption is also boosted by more money being put into digital health innovations and regulations that make them easier to use. This change helps doctors make better decisions, which speeds up the growth and development of the medical device market around the world.

List of Prominent Players in the Artificial Intelligence/Machine Learning Medical Device Market:

• CellaVision AB;

• Canon Inc.;

• Clarius Mobile Health Corp.

• General Electric Company;

• Aidoc Medical, Ltd.

• Koninklijke Philips N.V.,

• Hyperfine Inc.,

• Nanox.AI Ltd.,

• Medtronic Plc.,

• Page.AI,

• Koninklijke Philips N.V.

• Siemens Healthineers AG

• Tempus

• Shanghai United Imaging Healthcare Co., Ltd.

• Viz.ai, Inc.

• AI4MedImaging Medical Solutions S.A.

• Ever Fortune.AI Co., Ltd.

• MedMind Technology Co., Ltd.

• AIRS Medical Inc.

• CU-BX Automotive Technologies Ltd.

• Annalise-AI

• AZmed SAS

• Smart Soft Healthcare AD

Recent Developments:

• In February 2025, Longeviti Neuro Solutions, a neurotechnology company that provides cutting-edge platforms for complex brain surgeries, and Clarius Mobile Health, a leading supplier of high-resolution wireless ultrasound systems, will collaborate to give neurosurgeons access to wireless ultrasound scanners and sonolucent cranial implants, making them a safer and more affordable alternative to traditional implants.

• In June 2024, Health Canada approved the Clarius OB AI fetal biometric assessment tool, which automatically determines fetal age, weight, and growth intervals. Clarius Mobile Health is a major provider of high-definition handheld medical devices.

• September 2024, Canon Inc. announced that the CXDI-Pro series of wireless digital radiography devices, which include the CXDI-703C Wireless sensor unit, will be available in markets outside of Japan1. These devices are perfect for a wide range of applications in medical treatment facilities.

Artificial Intelligence/Machine Learning Medical Device Market Dynamics:

Market Drivers: Increasing Demand for More Accurate Diagnosis

One of the main factors propelling the expansion of the artificial intelligence and machine learning medical device sector is the growing need for more precise diagnosis. Advanced diagnostic instruments that provide accurate, real-time insights into patient situations are sought after by healthcare providers.

Moreover, superior accuracy is provided by AI-powered devices, which lower misdiagnosis and improve treatment results. Furthermore, strong investments in artificial intelligence/machine learning technologies spur innovation and propel market acceptance internationally as early detection and individualized care become priorities, greatly accelerating the sector’s growth and boosting market expansion.

Challenges: Intricate Regulatory Approval Procedures

One major barrier to the market for artificial intelligence/machine learning medical devices is the intricate regulatory approval procedures. Strict adherence to changing safety and efficacy criteria, thorough clinical testing, and exacting data validation are all necessary for these intricate procedures.

Moreover, rapid acceptance and wider market growth in this vibrant and promising industry are hampered by the high costs and protracted regulatory processes, which breed uncertainty, delay the market entry of new technologies, and discourage innovation, particularly among smaller businesses, which continue to be a major obstacle to industry growth.

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North America Is Expected To Grow With The Highest CAGR During The Forecast Period

The North American artificial intelligence/machine learning medical device market is likely to register a significant revenue share and develop at a rapid CAGR in the near future due to the widespread use of cutting-edge technology, significant investments in digital health research and development, and sophisticated healthcare infrastructure driving this.

Moreover, clinical integration is facilitated by the region’s strong network of healthcare facilities, aggressive regulatory frameworks, and strategic industry relationships. Further propelling market expansion is the increased patient desire for individualized treatment, improved diagnostic precision, and remote monitoring facilities, which positions North America as a prominent worldwide leader in this rapidly expanding industry.

Segmentation of Artificial Intelligence/Machine Learning Medical Device Market-

By Product Type-

• System/Hardware

• Software-as-a-Medical Device

By Application-

• Radiology

• Cardiology

• Hematology

By Region-

North America-

• The US

• Canada

• Mexico

Europe-

• Germany

• The UK

• France

• Italy

• Spain

• Rest of Europe

Asia-Pacific-

• China

• Japan

• India

• South Korea

• South East Asia

• Rest of Asia Pacific

Latin America-

• Brazil

• Argentina

• Rest of Latin America

Middle East & Africa-

• GCC Countries

• South Africa

• Rest of Middle East and Africa

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Artificial Intelligence and Machine Learning Medical Device Market Technology: Growth Drivers and Key Industry Insights