Computer Vision in Healthcare Market

Computer Vision in Healthcare Market Size

Computer Vision in Healthcare Market was valued at USD 1 billion in 2023 and is expected to grow at a CAGR of 34.3% between 2024 and 2032, driven by increasing demand for improved diagnostic accuracy and efficiency.

Computer vision technologies have gained the potential to enhance healthcare outcomes by providing more precise medical image analysis, leading to earlier detection of diseases and more tailored treatment plans. Also, as healthcare providers seek ways to optimize workflows and reduce diagnostic errors, the adoption of computer vision solutions offers a promising avenue for achieving these goals. Additionally, advancements in artificial intelligence (AI), along with machine learning algorithms continue to drive innovation in the field, thereby fuelling the growth of computer vision in the healthcare market.

Computer vision in healthcare refers to the application of AI and image processing techniques to interpret and analyze medical images, such as X-rays, MRIs, and CT scans. Computer vision systems leverage advanced algorithms and assist healthcare professionals in tasks such as disease diagnosis, treatment planning, and surgical guidance. These technologies enhance diagnostic accuracy, streamline workflows, and improve patient care outcomes.

Computer Vision in Healthcare Market Trends

• Growing government initiatives certainly play a crucial role in fostering the adoption and expansion of computer vision in the healthcare industry. These initiatives involve funding, policy support, and collaborations aimed at advancing research for cutting-edge solutions, and implementation of computer vision technologies in healthcare.
  
• For instance, the U.S. government National Institutes of Health (NIH) allocated substantial funds to research programs focusing on machine learning and deep learning, including computer vision for disease diagnosis, medical imaging analysis, and treatment planning. Such investments are intended for the government's support towards advancing the AI in healthcare field, thereby augmenting the market growth.
  

Computer Vision in Healthcare Market Analysis

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Based on the component, the market is classified into software and services. The software segment has asserted its dominance in the global market by securing a significant share and experiencing growth of 34.6% between 2024 – 2032.

• Software solutions play a significant role in powering computer vision algorithms, image processing, and data analysis for various applications. With the growing advancements in machine learning and AI, healthcare providers are increasingly relying on software platforms to interpret medical images, assist in diagnostics, and optimize patient care workflows.
  
• Cloud-based software solutions have gained traction due to their scalability, accessibility, and cost-effectiveness. These platforms offer healthcare providers the ability to analyze and assist healthcare professional in diagnostics and streamline workflows even remotely. Thus, software solutions offering flexibility, scalability, and compatibility with existing healthcare IT infrastructure will increase the adoption, thereby fostering the market.
  

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Based on the application, computer vision in healthcare market is classified into medical imaging & diagnosis, surgical assistance, patient identification, remote patient monitoring, and other applications. The medical imaging & diagnosis segment held the largest market share of 42.0% in 2023.

• AI in medical imaging has marked remarkable progress owing to its accuracy, aiding in the detection and diagnosis of diverse conditions. For instance, in June 2023, University of Michigan and Michigan Medicine researchers collaborated to develop a novel computer vision learning method ‘HiDisc’ for cancer diagnosis. This tool employed AI and machine learning to scrutinize microscopy images, recognizing typical cancerous tumor characteristics. Such collaboration coupled with growing advancement in the AI field especially in healthcare sector has led a remarkable growth in the market.
  

Based on the end-user, the computer vision in healthcare market is categorized into hospitals & clinics, diagnostic centers, academic research institutes, and other end-users. The hospitals & clinics segment is expected to reach USD 6.6 billion by 2032.

• Hospitals and clinics increasingly adopt computer vision technologies to integrate with their existing healthcare systems, enhancing diagnostic processes, patient care, and workflow efficiency. They utilize computer vision extensively in diagnostic imaging and pathology, where algorithms assist in interpreting medical images and pathology slides, aiding in more accurate diagnoses. Also, the technology facilitates early detection, personalized treatment planning, and patient health monitoring, leading to better outcomes and proactive healthcare approaches.
  

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North America is projected to maintain its lead in the global computer vision in healthcare market, anticipated to show CAGR of 34% to reach USD 6 billion by 2032.

• North America exhibited a strong inclination towards advanced digital technologies, driven by its well-developed healthcare, IT, and telecommunications infrastructure, which has propelled the growth of computer vision in the healthcare market. Also, favorable government policies actively encourage the integration of digital and innovative technologies, including AI in the healthcare sector.
  
• Thus, adoption of latest technology in the healthcare sector along with presence of key players in the region will boost the market growth.
  

Computer Vision in Healthcare Market Share

Computer vision in healthcare industry leverages advanced computer vision technologies to offer solutions for medical imaging analysis, diagnostic assistance, and patient monitoring. Additionally, emerging startups are gaining traction with innovative AI-powered diagnostic tools. They strive to focus on collaboration and strategic partnerships among these players to drive innovation and market growth in this rapidly evolving sector.

Computer Vision in Healthcare Market Companies

Prominent players operating in the computer vision in the healthcare market are as mentioned below:

• AltexSoft
• AiCure
• Encord
• General Electric (GE)
• ImFusion
• InData Labs
• Insoftex
• NVIDIA Corporation
• Robovision BV.
• Shaip
• Softengi
• Verkada Inc.
  

Computer Vision in Healthcare Industry News:

• In May 2023, Landing AI revealed the validation-ready edition of its LandingLens platform. The new platform is highly targeted for the life sciences, pharmaceuticals, and medical device manufacturing sectors. The platform launch aimed to accelerate the development of groundbreaking solutions to enhance healthcare sector.
  
• In April 2020, AiCure introduced its digital biomarker platform to remotely identify subtle changes in a patient's condition. Leveraging computer vision and AI, the platform collects and analyzes visual and auditory cues via the patient's smartphone camera, identifying crucial patient responses and behavioral patterns with precision to enhance the integrity of clinical trial data. This launch helped company to enhance their service offering especially in clinical trial outcomes.
  

The computer vision in healthcare market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Component

• Software
  • On-premises
  • Cloud-based
• Services

Market, By Application

• Medical imaging & diagnosis
• Surgical assistance
• Patient identification
• Remote patient monitoring
• Other applications

Market, By End-user

• Hospitals & clinics
• Diagnostic centers
• Academic research institutes
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa