The Computer Vision in Healthcare Market is anticipated to grow at a significant rate of 47.3%. Furthermore, the market value is further evaluated to increase up to USD 276.54 Million in the studied forecast period 2021-2028. Computer vision mainly uses algorithms to depict images and enhance the diagnostic process. They are used for various surgeries as well.
There are various advantages of computer vision in healthcare leading to the enormous growth. As a result, the demand for computer vision will be profitable for the market. According to the Computer Vision in Healthcare Market Analysis, North America will hold the largest share in the upcoming years. Furthermore, the key players are also promoting market growth at a significant rate.
The increasing transmission of coronavirus across the world has highly promoted the use of computer vision. It is because the key players developed effective solutions to detect the disease and analyze the treatment of the patients. Moreover, the lockdowns have led to an increase in screen time causing severe health concerns. Overall, the Computer Vision in Healthcare Market achieved significant growth in the years in 2019-2021.
Several drivers are pushing the market towards growth are increasing steps taken by the government and the adoption of artificial intelligence technologies in healthcare. Along with that, the increasing use of big data technologies in healthcare will further enhance the market growth in the upcoming years.
However, the low knowledge about the new technologies can restrain the Computer Vision in Healthcare Market Growth in the future years. In various developing and poor countries, this factor can slow down market growth.
Investments by key players such as partnerships, collaboration, new product launches can offer a promising future. Along with that, the increasing healthcare expenditure will further enhance the market growth in the studied forecast period.
Furthermore, challenges such as high costs required for treatments and surgical procedures can slow down the market growth. Along with that, the poor supply chain can also affect the Computer Vision in Healthcare Market.
According to the Computer Vision in Healthcare Market Analysis, the Compound Annual Growth Rate will further touch up to 48%. The market value is further anticipated to increase up to USD 300 Million in the studied forecast period 2021-2028. Various drivers, key players, and market players are focusing to boost the market growth in the upcoming years.
Value Chain Analysis
The growing demand for integration of digital technology in the healthcare sector is promoting the Computer Vision in Healthcare Market Trends. Therefore, with various advantages such as improvement in diagnosis and surgeries, the market is anticipated to have lucrative growth in the upcoming years. Also, the improvement in the supply chain will further enhance the value chain of the market in the future years.
The Computer Vision in Healthcare Market Size is segmented into Service and Products, Application, and End-User. On the basis of Service and Products, the market is segmented into Services, Software, and Software. In 2019, the software segment held the largest share in the market due to the increasing adoption of IT in healthcare sectors. Also, the hardware segment is expected to hold the second-largest share in the upcoming years.
On the basis of application, the Computer Vision in Healthcare Market is segmented into Surgeries, Medical Imaging, and Others. Previously in 2019, medical imaging systems held the largest share in this category. Therefore, this segment will also hold the highest growth in the upcoming years due to various advantages such as quality, accuracy, early detection. Along with that, surgeries segment is also anticipated to comprise a significant share in the upcoming years. It is because computer vision is used for the therapy as well as surgery of a wide range of diseases. Furthermore, the others segment consists of research, research, and patient management.
On the basis of end-user, the Computer Vision in Healthcare Market is segmented into Diagnostic Centres, Healthcare Providers, and Others. However, the segment of healthcare providers is anticipated to grow at the highest rate in the studied forecast period. Also, the diagnostic centers will comprise a significant share in the market. On the other hand, the other segment includes Ambulatory Surgical Centres and Specialty Centres.
Regionally, the Computer Vision in Healthcare Market Size is further divided into Europe, Americas, Asia-Pacific, Africa, and the Middle East. The Americas region in 2019 dominated the market. Various factors such as increasing cases of cardiovascular and chronic diseases are improving the market growth. Hence, the Americas will further comprise the largest share in the forecast period.
Secondly, Europe is evaluated to hold the second-largest Computer Vision in Healthcare Market Share. It is mainly due to the increasing cases of cancer and the use of computer vision for accurate diagnosis for effective treatment.
Thirdly, the Asia-Pacific region is expected to record the fastest growth in the forecast period. The increasing expenditure by governments to improve healthcare such as the development of hospitals and cardiac institutes are some crucial driving factors. Along with that, the rise in emigrant population urbanization and growing awareness will further enhance the market growth in the forthcoming years.
Additionally, Africa and the Middle East region are also anticipated to record significant growth. The rapid development of new products and infrastructure for the aging population are the supportive factors boosting the Computer Vision in Healthcare Market Growth.
Several companies are focusing to enhance the Computer Vision in Healthcare Market Growth. These key players do acquisitions, collaborations, mergers, etc. to enhance the market growth in upcoming years. Some of the key players in the market are as follows.
The report overview of the Computer Vision in Healthcare Market Outlook is listed below.
Report Score and Segmentation
The report score is to provide valuable information about the Computer Vision in Healthcare Market Forecast. This report highlights the market value, estimated CAGR, challenges, drivers, recent developments, etc. Therefore, the information provided in this report is collected from various secondary and primary sources.
|Market Size||2028: USD 276.54 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product & Service, Application, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Microsoft (US), NVIDIA (US), Intel (US), Xilinx (US), IBM (US), Google (A Subsidiary of Alphabet, Inc.) (US), Basler AG (Germany), Arterys, Inc. (US), AiCure (US), iCAD, Inc. (US)|
|Key Market Opportunities||Increasing government initiatives to increase the adoption of AI-based technologies.|
|Key Market Drivers||Growth strategies by market players|
The key restraining factor mentioned in the report is the lack of awareness and technical knowledge about the computer vision technology.
AiCure (US),Microsoft (US),Google (US),Arterys, Inc. (US),NVIDIA (US),Basler AG (Germany),IBM Corporation (US),Basler AG (Germany),Xilinx (US),ICAD Inc. (US)
North America is the most profitable market.
The surging cancer cases and the ability of computer vision in diagnosis of cancer make Europe a strong contender in the global market.
The medical imaging & diagnostics segment is currently leading the global industry.
The developing healthcare infrastructure and growing innovative product options for ageing population are working in favor of the MEA market.