DUBLIN--(BUSINESS WIRE)--The "Computer Vision in Healthcare Market by Product & Service (Software (On premise, Cloud), Hardware, Memory, Network), Application (Medical Imaging, Surgery), & End User (Health Care Provider, Diagnostic Center) - Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
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.
The growth of this market is majorly driven by 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. However, the reluctance of medical practitioners to adopt AI-based technologies and lack of awareness and technical knowledge are expected to restrain market growth to a certain extent during the forecast period.
Services segment to grow at the highest CAGR during the forecast period
Based on product & service, the computer vision in healthcare market is segmented into software, hardware, and services. The services segment is expected to grow at the highest CAGR during the forecast period. The high growth of the services segment can be attributed to the recurring requirement of services such as training, software upgrades, and software maintenance post-installation.
The healthcare providers segment accounted for the largest share of the computer vision in healthcare market, by end user, in 2018
Based on end user, the computer vision in healthcare market is segmented into healthcare providers, diagnostic centers, and other end users. In 2018, the healthcare providers segment accounted for the largest share of the computer vision in healthcare market. Factors such as the growing adoption of these solutions in hospitals and the increasing focus of companies on developing AI and computer vision tools to improve hospital operations are driving the growth of this end-user segment.
North America to dominate the computer vision in healthcare market during the forecast period
In 2018, North America accounted for the largest share of the computer vision in healthcare market. This market is also expected to grow at the highest CAGR during the forecast period. The increasing number of imaging procedures for disease diagnosis is a major factor driving market growth.
Market Dynamics
Drivers
- Increasing Demand For Computer Vision Systems In The Healthcare Industry
- Government Initiatives To Increase The Adoption Of AI-Based Technologies
- Big Data In Healthcare
- Use Of Computer Vision In Precision Medicine
Restraints
- Reluctance Of Medical Practitioners To Adopt AI-Based Technologies
- Lack Of Awareness And Technical Knowledge
Opportunities
- Cloud-Based Healthcare Computer Vision Solutions
- Unexplored Applications
Challenges
- Rising Security Concerns Related To Cloud-Based Image Processing And Analytics
- Lack Of Curated Data
Companies Mentioned
- Aicure
- Arterys, Inc.
- Basler AG
- IBM
- ICAD, Inc.
- Intel
- Microsoft
- nVidia
- Xilinx
For more information about this report visit https://www.researchandmarkets.com/research/v889tj/computer_vision?w=4
