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AI Testing, Inspection and Certification (TIC) Services in Healthcare Market Trends

  • Report ID: GMI10167
  • Published Date: Jul 2024
  • Report Format: PDF

AI TIC Services in Healthcare Market Trends

The growing integration of AI in drug discovery and development is enabling faster identification of drug candidates, predicting drug efficacy and enhancing clinical trials. Companies are launching AI-based software to integrate drug discovery. For instance, in December 2023, Merck, a science and technology company launched AIDDISON, drug discovery software, a software-as-a-service platform to close the gap between virtual molecule design and real-world manufacturability through Synthia retrosynthesis software API integration. The integration of AI in drug discovery needs accurate testing and certification to ensure AI models are reliable. AI TIC services are important for verifying AI-driven drug discovery processes and checking if they meet regulatory standards.
 

Also, regulatory bodies in various countries are updating their regulations for AI-driven medical devices.  For instance, in May 2024, The FDA (Food and Drug Administration) in the United States has announced updated guidelines for the regulation of AI-driven medical devices. The new guidelines emphasize the importance of rigorous testing and validation of AI algorithms used in healthcare to ensure safety, efficacy, and compliance with regulatory standards. This update reflects ongoing efforts to streamline the approval process for AI technologies while maintaining patient safety.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The AI TIC (testing, inspection and certification) services in healthcare industry reached a revenue of USD 1.8 billion in 2023 and may register over 15% CAGR from 2024 to 2032 due to growing adoption of digital health solutions such as telemedicine, wearable devices, and health information systems.

The outsourced type segment in the AI TIC (testing, inspection and certification) services in healthcare market is expected to exceed USD 3.5 billion by 2032 as it allows healthcare companies to access specialized expertise and skills that may not be available in-house. ?

North America AI TIC (testing, inspection and certification) services in the healthcare market held 40% share in 2023, led by the rise in technological advancements in AI, particularly in healthcare applications.

Bureau Veritas, DEKRA, DNV GL, Emitech Group, Eurofins Scientific, Intertek Group, SGS Group, TUV Rheinland, TUV SUD, and UL (Underwriters Laboratories).

AI TIC Services in Healthcare Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 350
  • Countries covered: 25
  • Pages: 300
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