Global Market Size, Forecast, and Trend Highlights Over 2025-2037
AI in Medical Devices Market size was valued at USD 19.1 billion in 2024 and is projected to reach USD 143.5 billion by the end of 2037, rising at a CAGR of 26.2% during the forecast period, 2025-2037. In 2025, the industry size of AI in medical devices is evaluated at USD 24.2 billion.
The worldwide AI in medical devices market is subjected to an increase in the patient pool, with a surge in the occurrence of chronic disorders that is driving the market demand. As stated in the 2024 World Health Organization (WHO) report, cancer and cardiovascular diseases account for more than 45 million deaths every year, which has necessitated AI-based treatment and diagnostics planning. Besides, as per the Centers for Disease Control and Prevention (CDC) report, an estimated 62% of adults in the U.S. are affected by one chronic condition, which has accelerated the AI implementation, especially for predictive and remote monitoring analytics, thereby suitable for the overall market upliftment.
Furthermore, the U.S. Bureau of Labor Statistics (BLS) reported that the consumer price index (CPI) has increased by approximately 5.1% for AI healthcare and medical services, thus reflecting a surge in the demand for AI-specific diagnostics in hospitals. Conversely, the producer price index (PPI) also boosted by 6.4% for AI-based medical devices on a year-over-year (YoY) basis as of 2024. Besides, investments for research, development, and deployment activities reached the USD 9.5 million mark in 2024, with an allocation of 29.5% grants by the National Institutes of Health (NIH). Also, in terms of the global trade system, the U.S. successfully exports USD 22.8 billion of AI medical devices every year, thus creating a positive outlook for the AI in medical devices market.
