Report Id: SNS/HC/2087 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Computer Vision in Healthcare Market Size was valued at USD 673.8 million in 2021, and is expected to reach USD 10236 million by 2028, and grow at a CAGR of 47.5% over the forecast period 2022-2028.
In contrast to a doctor, computer vision uses algorithms for image processing to produce faster and more accurate diagnoses. Computer vision technology for healthcare is utilised in procedures and treatments to treat a variety of ailments. Additionally, the use of computers in healthcare allows for the automation of time-consuming processes, freeing up doctors to concentrate on providing the best possible care for their patients. It aids in cost-cutting as well. Medical imaging modalities like CT and MRI are being developed with the help of rapid prototyping technology and three-dimensional modelling. Medical imaging and diagnostics, surgeries, clinical trials, patient management, research, and other applications are just a few of the segments where it has applicability. Computer vision in healthcare has many benefits that are fueling its rapid expansion. Therefore, the market will benefit from the demand for computer vision.
The Healthcare Sector is Seeing a Rise in the Demand for Computer Vision Systems
Governmental Efforts to Promote the Adoption of AI-Based Technologies
Large Data in Healthcare
The application of computer vision to precision medicine
Medical Professionals' Reluctance to Adopt AI-Based Technologies
Lack of Information and Technical Skills
Medical Computer Vision Services in the Cloud
Applications Still Unexplored
Increasing Security Issues with Cloud-Based Image Processing and Analytics
Scarcity of curated data
IMPACT OF COVID-19
The healthcare market continues to decline as a result of COVID-19. Communities aside, COVID-19 was a catastrophe for the major world economies, particularly the healthcare industry. Important parties are continuing to modify their plans in response to the quickly shifting circumstances. The healthcare sector is expected to see severe long-term effects from COVID-19. Until the problem is resolved, significant players and nations would need to make important healthcare adjustments.
The future of healthcare reforms is expected to include significant investments in technological development, cost control, and expanded access. In the ongoing outbreak, telemedicine and digital health have assumed a prominent role. Remote diagnosis, care, and consultation were once again highlighted by COVID-19. Growth in Telehealth has been hampered in recent years by legislative and behavioural obstacles. The segment is expected to rise over the next two years, though, as many healthcare providers are now working on video conferencing and phone calls. Patients with mild symptoms were also required to consult online as part of the social distancing strategies. Additionally, it significantly lessened the strain on hospitals who were already overwhelmed with COVID-19 patient counts. Medical IoT devices that reside in the patient's house are now utilised to maximize outpatient care and reduce follow-up visits; these devices can also be employed in an emergency. Extreme resource shortages were caused by the pandemic.
VALUE CHAIN ANALYSIS
The market trends for computer vision in healthcare are being driven by the escalating demand for digital technology integration in the healthcare industry. As a result, the market is expected to grow profitably in the years to come thanks to a number of benefits such advancements in diagnostics and operations. The market's value chain will also be improved in the coming years because to the development in the supply chain.
By Product & Service
Software, hardware, and services make up the three market segments for computer vision in healthcare. The market segment with the biggest share in software. Despite the difficulties of having a staffing shortage and having to deal with rising imaging scan volumes, software solutions that digitalize healthcare and are coupled with artificial intelligence assist healthcare organisations achieve a competitive edge. This is a significant driver of market expansion.
Medical imaging & diagnostics, operations, and other applications make up the various subsectors of the computer vision in healthcare industry. The market's highest percentage share was held by the medical imaging and diagnostics category. Additionally, during the anticipated time, this sector is anticipated to increase at the fastest rate. The benefits of employing computer vision for medical imaging and diagnostics, including an improvement in quality, accuracy, and predictability as well as the early diagnosis of some diseases, are what are causing the market for medical imaging and diagnostics to expand.
By End user
Healthcare organisations, diagnostic facilities, and other end users make up the market segments. The healthcare providers market category held the greatest market share and is anticipated to increase at the fastest rate during the forecast period. The main reasons influencing the growth of this end-user market are the expanding use of computer vision solutions in hospitals and the increased emphasis of businesses on creating AI and computer vision tools to enhance hospital operations.
Some of the major key players are as follows: Arterys, iCAD Inc., Basler AG, AiCure, Google, IBM, Intel Corporation, Microsoft, NVIDIA Corporation, Xilinx Inc.
By Product & Service
Medical imaging and diagnostics
By End user
North America is the leading region in the world for computer vision in healthcare, followed by Europe, Asia, and the Rest of the World. The market in North America is anticipated to grow at the fastest rate during the prediction period. The significant growth of the North American market may be ascribed to the rise in the use of imaging procedures for the diagnosis of diseases, the adoption of personalized medicine, and the expansion of government programmes to promote the use of AI-based healthcare solutions.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 673.8 Million|
|Market Size by 2028||US$ 10236 Million|
|CAGR||CAGR of 47.5% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product & Service (Hardware, Software, Services)
• By Application (Medical imaging and diagnostics, Surgeries, Other applications)
• By End user (Healthcare providers, Diagnostic centers)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Arterys, iCAD Inc., Basler AG, AiCure, Google, IBM, Intel Corporation, Microsoft, NVIDIA Corporation, Xilinx Inc.|
|DRIVERS||• The Healthcare Sector is Seeing a Rise in the Demand for Computer Vision Systems
• Governmental Efforts to Promote the Adoption of AI-Based Technologies
• Large Data in Healthcare
|RESTRAINTS||• Medical Professionals' Reluctance to Adopt AI-Based Technologies
• Lack of Information and Technical Skills
Frequently Asked Questions (FAQ) :
Large Data in Healthcare, and the application of computer vision to precision medicine are the key drivers of the Computer Vision in Healthcare market.
Drivers, Restraints, Opportunities, and Challenges are the factors of marketing dynamics Computer Vision in Healthcare market.
Hardware, Software, and Services are the sub segments of component of Computer Vision in Healthcare market.
Yes, the market's value chain will also be improved in the coming years because to the development in the supply chain.
Computer Vision in Healthcare Market Size was valued at USD 673.8 million in 2021, and expected to reach USD 10236 million by 2028
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine ware
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Computer Vision in Healthcare Market Segmentation, By Product & Service
9. Computer Vision in Healthcare Market Segmentation, By Application
9.1 Medical imaging and diagnostics
9.3 Other applications
10. Computer Vision in Healthcare Market Segmentation, By End user
10.1 Healthcare providers
10.2 Diagnostic centers
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 iCAD Inc.
12.3 Basler AG
12.7 Intel Corporation
12.9 NVIDIA Corporation
12.10 Xilinx Inc.
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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