AI in Medical Devices Segmentation
Deployment (Cloud-Based, On-Premise)
Based on deployment, the cloud-based segment is projected to hold the largest share of 68.5% in the AI in medical devices market by the end of 2037. The segment’s growth is highly fueled by factors, including seamless EHR integration, cost-efficiency, and scalability with reduced hospital IT facility costs by 35% to 45% with cloud-based AI adoption. Besides, medical providers are effectively in favor of cloud solutions for their automated updates, remote accessibility, and real-time analytics that tend to enhance clinical workflow efficiency by almost 28.5%. Also, government strategies such as the CMS’s 2025 Interoperability Rule have further escalated the market adoption.
Component (Software, Hardware, Services)
Based on the component, the software segment is expected to hold the second-largest share of 57.8% in the AI in medical devices market during the forecast timeline. This growth originates from the increased implementation of AI-based clinical decision support and diagnostic platforms in the healthcare system. This effectively delivers more than 94% of accuracy in real-time analytics. Besides, the presence and availability of specialized AI algorithms, regulatory mandates, and cloud-based SaaS models are other factors positively impacting the segment’s growth. For instance, SaaS models have the capability to overcome upfront costs by almost 43% in comparison to hardware-based solutions, thereby uplifting the overall market.
Our in-depth analysis of the global market includes the following segments:
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