Computer Vision In Healthcare To Become An $11.5 Billion Industry By 2029: Analysis Of AI Case Studies, Leading Market Players, Opportunities And Challenges

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, May 09, 2024 (GLOBE NEWSWIRE) -- The "Global Computer Vision in Healthcare Market by Product (Processor, Software, Memory Device, Services), Type (Smart Camera), Application (Imaging, Surgery, Hospital Management (Patient Provider Tracking, Scheduling)), End User & Region - Forecast to 2029" report has been added to ResearchAndMarkets's offering.
The global computer vision in healthcare market is projected to reach USD 11.5 billion by 2029 from USD 3.9 billion in 2024, at a high CAGR of 24% during the forecast period. The market's growth is boosted by an increasing emphasis on diagnosing disease using computer vision algorithm by analyzing medical images (X-rays, MRIs), image analysis, telemedicine. Nevertheless, refrains such as a data privacy and security, accuracy of computer vision algorithms, regulatory clearance to somewhat impede the market's growth.

The segment of software demonstrated largest market share in the computer vision in healthcare market, by product & service
Regarding products and services, the software segment witnessed largest market share in the computer vision in healthcare market in 2023. This growth primarily stems from advancements in solutions and related software development kits, as well as the introduction of AI-based computer vision solutions for health assistance and medication management. These launches are driving the expansion of the solutions market.
The largest segment in the computer vision in healthcare market by the end user was healthcare providers in the year 2023
In 2023, the healthcare providers segment is expected to account for largest market share within the computer vision healthcare market. This surge is fueled by heightened adoption of computer vision solutions in hospitals, coupled with a growing emphasis on innovation, expanded budgets, and a heightened demand for advanced technologies to facilitate quicker and more efficient diagnoses.
Asia Pacific is expected to experience the most substantial growth rate throughout the 2024-2029
The Asia Pacific region is experiencing the highest growth rate in the computer vision in healthcare market due to several factors such as the region's large and rapidly aging population creates a significant demand for advanced healthcare solutions, including those powered by computer vision technology, increasing investments in healthcare infrastructure and technology adoption, particularly in emerging economies like China and India, are driving market growth. Additionally, supportive government initiatives and rising healthcare spending are fostering the development and deployment of innovative computer vision solutions across various healthcare settings.
Research Coverage
The report analyses the computer vision in healthcare market. It aims to estimate the market size and future growth potential of various market segments based on product & service, type, application, end-user, and region. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

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 (US), CareView Communications (US), VirtuSense (US), Teton (Denmark), viso (Switzerland), NANO-X IMAGING LTD. (Israel), Comofi Medtech Pvt. Ltd. (India), Avidtechvision (India), Roboflow, Inc. (US), Optotune (US) and CureMetrix, Inc. (US).
Key Attributes

Report Attribute Details
No. of Pages 360
Forecast Period 2024-2029
Estimated Market Value (USD) in 2024 $3.9 Billion
Forecasted Market Value (USD) by 2029 $11.5 Billion
Compound Annual Growth Rate 24%
Regions Covered Global

Premium Insights

  • Increasing Demand for Computer Vision Systems in Healthcare Industry to Drive Market
  • Software Segment Accounted for Largest Share of Asia-Pacific Market in 2023
  • China to Register Highest Growth Rate During Forecast Period
  • North America to Dominate Computer Vision in Healthcare Market During Forecast Period
  • Emerging Markets to Register Higher Growth During Forecast Period

Market Dynamics

  • Drivers
    • Increasing Demand for Computer Vision Systems in Healthcare Industry
    • Government Initiatives to Increase Adoption of AI-based Technologies
    • Big Data in Healthcare
    • Use of Computer Vision in Precision Medicine
    • Advancements in Deep Learning and Neural Network Technologies
  • Restraints
    • Reluctance of Medical Practitioners to Adopt AI-based Technologies
    • Lack of Awareness and Technical Knowledge
  • Opportunities
    • Cloud-based Healthcare Computer Vision Solutions
    • Unexplored Applications
  • Challenges
    • Rising Security Concerns Related to Cloud-based Image Processing and Analytics
    • Lack of Curated Data
  • Industry Trends
    • Early Detection of Cancer
    • Interactive Medical Imaging
    • Physician Training by Surgery Simulations
    • Real-Time Surgical Assistance

Technology Analysis

  • Key Technologies
    • Deep Learning and Convolutional Neural Networks
    • Artificial Intelligence
    • Machine Learning
  • Complementary Technologies
    • Wearable Technology
    • Smartphone Computer Vision Technology
  • Adjacent Technologies
    • Augmented Reality

Case Study Analysis

  • Transforming Stroke Care with AI
    • Case 1: Punktum Collaborated with Mayo Clinic to Develop Cutting-Edge Deep Learning-based Model Focused on Computer Vision
  • Automating Lab Through AI and Computer Vision
    • Case 2: Driving Increased Effectiveness and Optimized Labor Costs
  • Managing Fall Accidents
    • Case 3: Detecting Falls - Immediate Notification to Medical Staff

Companies Featured

  • Nvidia Corporation
  • Intel Corporation
  • Microsoft Corporation
  • Advanced Micro Devices, Inc.
  • Google
  • Basler AG
  • Aicure
  • ICAD, Inc.
  • Thermo Fisher Scientific Inc.
  • Sensetime
  • Keyence Corporation
  • Assert AI
  • Artisight
  • Lookdeep
  • Care
  • Careview Communications
  • Virtusense Technologies,
  • Teton
  • Viso
  • Nano-X Imaging Ltd.
  • Comofi Medtech Pvt. Ltd.
  • Aividtechvision
  • Roboflow, Inc.
  • Optotune
  • Curemetrix, Inc.

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