Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Market Forecast Highlights Growth Outlook and CAGR Trends Over 2025–2029

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 What Is the Current Size and Annual Growth Rate of the Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Market?
 The artificial intelligence or machine learning (ai/ml) medical device market size has grown exponentially in recent years. It will grow from $6.63 billion in 2024 to $8.11 billion in 2025 at a compound annual growth rate (CAGR) of 22.3%. The growth in the historic period can be attributed to regulatory support, rise in chronic diseases, data accessibility, improvements in computational power, cost efficiency.
 
 The artificial intelligence or machine learning (ai/ml) medical device market size is expected to see exponential growth in the next few years. It will grow to $20.77 billion in 2029 at a compound annual growth rate (CAGR) of 26.5%. The growth in the forecast period can be attributed to increased personalization, remote monitoring and telemedicine, ai/ml integrated diagnostics, patient-centric care, ai/ml in proactive care. Major trends in the forecast period include ai/ml-enhanced imaging devices, wearable ai/ml devices, ai/ml-powered prosthetics and robotics, point-of-care ai/ml diagnostics, ethical ai/ml use.
 
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 Which Market Forces Are Stimulating Growth in the Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Market?
 Investments in healthcare AI are expected to propel the growth of the artificial intelligence or machine learning medical device market going forward. Healthcare AI (Artificial Intelligence) refers to applying AI technologies in the healthcare industry to improve healthcare delivery, diagnosis, treatment, and overall patient care. Investments in AI healthcare are driven by the potential for AI and ML technologies to revolutionize healthcare delivery, improve patient outcomes, and enhance operational efficiency. For instance, in March 2023, according to the Department of Health and Social Care, a UK-based government department, over 300,000 patients benefited from $147.2 million (£123 million) invested in 86 AI technologies over three rounds of awards. Additionally, Mendelian, a UK-based digital health startup, has been awarded $1.7 million (£1.4 million) to support an AI system that identifies patients with undiagnosed rare diseases. Further, Medtronic, a US-based medical device company, was awarded $3.18 million (£2.5 million) to develop further an AI-based medical device called GI Genius. Therefore, investments in healthcare AI drive the growth of the artificial intelligence and machine learning medical device market.
 
 What Are the Emerging Segments Driving Growth in the Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Market?
 The artificial intelligence or machine learning (ai/ml) medical devicemarket covered in this report is segmented — 
 
 1) By Product: System Or Hardware, Software-As-A Medical Devices
 2) By Clinical Area: Radiology, Cardiology, Hematology, Other Clinical Areas
 3) By End-User: Hospitals And Healthcare Providers, Patients, Pharmaceuticals And Biotechnology Companies, Healthcare payers, Other End-Users
 
 Subsegments:
 1) By System Or Hardware: Diagnostic Imaging Systems, Surgical Robots, Monitoring Devices 
 2) By Software-As-A-Medical Device: AI Diagnostic Software, Clinical Decision Support Systems, Predictive Analytics Platforms
 
 Which Future-Ready Trends Are Expected to Influence the Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Market?
 Technological developments are a key trend gaining popularity in the artificial intelligence or machine learning medical device market. Major companies operating in the artificial intelligence machine learning medical device market are concentrating on creating innovative technologies to sustain their position in the market. For instance, in April 2024, Medtronic plc, an Ireland-based medical devices company, announced the launch of 14 new AI-driven Performance Insights algorithms and Touch Surgery Live Stream technology, designed to enhance laparoscopic and robotic-assisted surgical procedures. These innovations allow for AI-based post-operative analysis, providing detailed insights into surgical techniques, and offer real-time, remote observation for improved surgical training and education, setting a new standard in surgical performance and connectivity. This launch broadens the capabilities of AI in surgery, simplifying workflows and empowering surgeons to continuously improve through actionable insights. 
 
 Which Companies Are Expanding Their Presence in the Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Market?
 Major companies operating in the artificial intelligence or machine learning (AI/ML) medical device market include General Electric, Medtronic PLC, Canon Inc., Nvidia Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Stryker Corporation, RadNet Inc., Shanghai United Imaging Healthcare Co. Ltd., Tempus, DataRobot Inc., DeepMind Technologies Limited, Paige AI Inc., Aidoc Medical Ltd., Butterfly Network Inc., Aidoc Medical, CellaVision AB, H2O.ai, Clarius Mobile Health Corp., Subtle Medical Inc., Owkin Inc., Cleerly Inc., Behold.ai, Viz.ai Inc., Arterys Inc., Caption Health, Komodo Health Inc., Enlitic Inc., CloudMedx Inc., Hyperfine Inc., Nanox AI Ltd. 
 
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 Which Regional Markets Offer the Most Promising Growth Opportunities for the Artificial Intelligence Or Machine Learning (AI/ML) Medical Device Market?
 North America was the largest region in the artificial intelligence machine learning (AI/ML) medical device market in 2024. The regions covered in the artificial intelligence or machine learning (AI/ML) medical device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
 
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