Factors such as the increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies, big data in healthcare, and the use of computer vision in precision medicine are expected to drive the growth of this market.
[135 Pages Report] The computer vision in healthcare market is projected to reach USD 1,457 million by 2023 from USD 210 million in 2018, at a CAGR of 47.2% during the forecast period.
In 2018, NVIDIA partnered with King’s College London, a leader in medical research. King’s College London is Europe’s first clinical partner to adopt NVIDIA DGX-2 and the NVIDIA Clara platform. King’s College deployed NVIDIA AI solutions to rethink the practice of radiology and pathology in a quest to better serve 8 million patients in the UK’s National Health Service.
In 2018, Intel collaborated with Novartis on the use of deep neural networks (DNN) to accelerate high content screening—a key element of early drug discovery.
In 2018, IBM collaborated with NVIDIA to incorporate the RAPIDS open source software into its enterprise-grade data science platform for on-premise, hybrid, and multi-cloud environments.
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Software segment accounted for the largest share of the computer vision in healthcare market in 2018
On the basis of product & service, the computer vision in healthcare market has been segmented into software, hardware, and services. In 2018, the software segment accounted for the largest share of the market. Software solutions digitalize healthcare and are integrated with artificial intelligence, which helps healthcare providers gain a competitive edge despite the challenges of being short-staffed and facing increasing imaging scan volumes. This is a major factor driving market growth.
Medical imaging & diagnostics applications to register the highest growth in the computer vision in healthcare market during the forecast period
The computer vision in healthcare market, by application, is segmented into medical imaging & diagnostics, surgeries, and other applications. The medical imaging & diagnostics segment accounted for the largest share of the market in 2018. This segment is also projected to witness the highest growth during the forecast period. The advantages of using computer vision for medical imaging & diagnostics, such as an increase in quality, accuracy, and predictability and early detection of certain diseases are driving the growth of the medical imaging & diagnostics segment.
Healthcare providers are the largest end users of the computer vision in healthcare market
On the basis of end user, the market is segmented into healthcare providers, diagnostic centers, and other end users. The healthcare providers segment accounted for the largest market share in 2018 and is projected to register the highest growth rate during the forecast period. The growing adoption of computer vision solutions in hospitals and the increasing focus of companies on developing AI and computer vision tools to improve hospital operations are the major factors driving the growth of this end-user segment.
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Key Market Players
The computer vision in healthcare market is highly competitive in nature, with several big as well as emerging players. Prominent players in this market include NVIDIA Corporation (US), Microsoft (US), Intel Corporation (US), Xilinx Inc. (US), IBM (US), Google (US), Basler AG (Germany), Arterys (US), AiCure (US), and iCAD Inc. (US).