Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Markets, 2022-2023 and 2024-2032: Potential of AI to Shorten Wait Times and Reduce Disease Burden Driving Burgeoning Opportunities

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Mar 01, 2024, 22:30 ET

DUBLIN, March 1, 2024 /PRNewswire/ -- The "Asia-Pacific Artificial Intelligence/ Machine Learning Medical Device Market: Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.

The Asia-Pacific artificial intelligence/machine learning medical device market was valued at $681.9 million in 2022 and is anticipated to reach $6,800.9 million by 2032, witnessing a CAGR of 25.86% during the forecast period 2022-2032

The market experiences growth due to factors including a substantial ecosystem of companies providing AI solutions, increasing demand in radiology and cardiology, a rising need for wearable sensors, and numerous government initiatives.

Market Introduction

The Asia-Pacific (APAC) Artificial Intelligence and Machine Learning (AI/ML) medical device market is witnessing a significant surge in growth and innovation. This dynamic region is becoming a focal point for the development and adoption of AI and ML technologies in the healthcare sector.
The increasing prevalence of chronic diseases, coupled with a rapidly aging population, is driving the demand for advanced medical devices powered by AI and ML.

These technologies enhance diagnostic accuracy, treatment planning, and patient care, making healthcare more efficient and accessible. Countries in the APAC region are actively investing in healthcare infrastructure and research, fostering a favorable environment for AI/ML medical devices. Moreover, the presence of a vast and diverse patient population provides a unique opportunity for data-driven healthcare solutions.

As the APAC AI/ML medical device market continues to expand, collaborations between technology companies and healthcare providers are on the rise, facilitating the development of cutting-edge medical devices and driving improvements in patient outcomes.

How can this report add value to an organization?

Growth/Marketing Strategy: The APAC artificial intelligence/machine learning medical device market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint ventures. Partnerships, alliances, business expansions, and regulatory activities accounted for the maximum number of key developments.

Competitive Strategy: The APAC artificial intelligence/machine learning medical device market is highly fragmented, including established companies and startups. Key players in the APAC artificial intelligence/machine learning medical device market analyzed and profiled in the study involve established and emerging players that offer different AI-enabled medical devices. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players

Canon Inc.
Shanghai United Imaging Healthcare Co., Ltd.
Ever Fortune.AI Co., Ltd.
MedMind Technology Co., Ltd.
AIRS Medical Inc.
Annalise-AI

Key Topics Covered:

Executive Summary

Scope of the Study

Research Methodology

1 Markets
1.1 Market Outlook
1.1.1 Product Definition
1.1.2 Inclusion and Exclusion Criteria
1.1.3 Key Findings
1.1.4 Market Scenario
1.1.4.1 Realistic Growth Scenario
1.1.4.2 Optimistic Growth Scenario
1.1.4.3 Pessimistic/Conservative Growth Scenario
1.2 Industry Outlook
1.2.1 Market Overview
1.2.2 Key Trends
1.2.2.1 Updations of Government Regulations to Accommodate the Development and Regulation of AI-enabled SaMD
1.2.2.2 Most AI-Enabled Medical Devices Aid in Clinical Decision-Making but do not Provide the Final Diagnosis Themselves
1.2.2.3 Very Few AI-Enabled Medical Devices Have to Undergo the Rigorous PMA Process: Rest Get 510(k) Clearance
1.2.3 Opportunity Assessment
1.2.4 Business Models
1.2.5 Recommendations for Key Players
1.2.6 Patent Analysis
1.2.6.1 Awaited Technological Developments
1.2.6.2 Patent Filing Trend (by Country)
1.2.6.3 Patent Filing Trend (by Year)
1.2.7 Funding Scenario
1.2.8 Product Benchmarking
1.2.9 End User Perception
1.3 Impact of COVID-19 on the Artificial Intelligence/Machine Learning Medical Device
1.3.1 Pre-COVID-19 Phase
1.3.2 During COVID-19
1.3.2.1 Impact of COVID-19 on Clinical Settings and Clinical Decision-Making
1.3.3 Post-COVID-19 Phase
1.4 Business Dynamics
1.4.1 Impact Analysis
1.4.2 Business Drivers
1.4.2.1 Presence of a Large Ecosystem of Companies Offering AI Solutions Targeting the Diverse Range of Applications of AI in the Healthcare
1.4.2.2 Growing Demand in the Field of Radiology and Cardiology Increasing Adoption of AI-Enabled Solutions due to Their Ability to Shorten Waiting Times and Reduce Burden on Healthcare System
1.4.2.3 Growing Demand for Wearable Sensors to Increase Adoption of AI-Enabled Medical Devices for Home-Based Care
1.4.2.4 Large Number of Government Initiatives Advancing the Research and Development of AI-Enabled Medical Devices
1.4.3 Business Restraints
1.4.3.1 Lack of Transparency and Concerns around Data Sharing Leading to Cybersecurity Concerns and Hindering Adoption of AI in Healthcare
1.4.3.2 Challenges Related to Identification and Minimization of Bias in AI Algorithms Leading to Concerns Surrounding the Reliability of Diagnosis and Thus Hindering the Use of AI-Enabled Solutions
1.4.4 Business Opportunities
1.4.4.1 Applications across a Wide Range of Clinical Areas Present Opportunities for Further Research and Development
1.4.4.2 Potential of AI to Shorten Wait Times and Reduce Disease Burden on the Healthcare System, Especially in Low- and Middle-Income Countries (LMICs)
1.4.4.3 Increasing Number of Medical Imaging Equipment Coupled with Relatively Lower Adoption of AI-enabled Medical Devices Presents Opportunity for Growth in Regions such as Asia-Pacific

2 Artificial Intelligence/Machine Learning Medical Device Market (by Region)
2.1 Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market
2.1.1 Regulatory Framework
2.1.2 Technology Adoption
2.1.3 Key Findings and Opportunity Assessment
2.1.4 Market Dynamics
2.1.4.1 Impact Analysis
2.1.5 Market Size and Forecast
2.1.5.1 Asia-Pacific Artificial Intelligence/Machine Learning Medical Device Market (by Country)
2.1.5.1.1 Japan
2.1.5.1.1.1 Market Dynamics
2.1.5.1.1.2 Market Size and Forecast
2.1.5.1.2 China
2.1.5.1.3 Australia
2.1.5.1.4 South Korea
2.1.5.1.5 India
2.1.5.1.6 Rest-of-Asia-Pacific

3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Key Strategies and Developments
3.1.1.1.1 Regulatory and Legal Activities
3.1.1.1.2 Funding Activities
3.1.1.1.3 New Offerings
3.1.1.1.4 Mergers and Acquisitions
3.1.1.1.5 Partnerships, Collaborations, and Business Expansions
3.2 Company Profiles
3.2.1 Canon Inc.
3.2.1.1 Company Overview
3.2.1.2 Role of Canon Inc. in the Artificial Intelligence/Machine Learning Medical Device Market
3.2.1.3 Financials
3.2.1.4 Analyst Perception
3.2.2 Shanghai United Imaging Healthcare Co., Ltd.
3.2.3 Ever Fortune.AI Co., Ltd.
3.2.4 MedMind Technology Co., Ltd.
3.2.5 AIRS Medical Inc.
3.2.6 Annalise-AI

For more information about this report visit https://www.researchandmarkets.com/r/ayvvsz

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