Computer Vision in Healthcare Market

Computer Vision in Healthcare Market Outlook from 2024 to 2034

The global Computer Vision In Healthcare Market is expected to expand from USD 2.5 billion in 2024 to USD 56.1 billion by 2034. By 2034, the market is projected to surge at 36.7% CAGR.

Attributes	Key Insights
Estimated Global Computer Vision in Healthcare Market Size (2024E)	USD 2.5 billion
Projected Computer Vision in Healthcare Market Value (2034F)	USD 56.1 billion
Value-based CAGR (2024 to 2034)	36.7%

Global Computer Vision in Healthcare Market Overview

• Increasing government initiatives to encourage the use of AI-based technologies, incorporation of big data into healthcare procedures, and use of computer vision in precision medicine are driving computer vision in the healthcare market.
• The healthcare sector is expected to change dramatically due to the ongoing development of machine learning (ML) models, particularly in computer vision. A more effective system for diagnosis and treatment is anticipated to emerge from this progression, improving patient care outcomes in the process.
• Computer vision systems provide accurate medical diagnoses to reduce false positives and avoid unnecessary surgery and expensive treatments.
• Medical providers use computer vision technology to assess fitness and health parameters, enabling patients to make better-informed medical decisions more quickly.
• Blood loss during surgeries, especially C-sections, is measured using computer vision in healthcare settings. This capacity is essential for timely action when blood loss reaches critical proportions.
• Body fat percentage is also calculated using computer vision by utilizing pictures from regular cameras, demonstrating the technology's adaptability.

The diverse use of technology illustrates how well computer vision supports thorough healthcare assessments and improves medical decision-making procedures.

Historical Computer Vision in Healthcare Market Growth Outlook Vs. 2024 to 2034

The global computer vision in healthcare sales grew at a CAGR of 38.4% from 2019 to 2023. The growth of computer vision in healthcare from 2019 to 2023 can be attributed to a convergence of factors:

• Applications for computer vision have been created to help medical practitioners with diagnosis procedures. These programs assist in identifying anomalies and illnesses by automatically analyzing and interpreting medical images.
• The adoption of deep learning techniques, particularly convolutional neural networks (CNNs), was a key trend. These sophisticated algorithms have proven to perform better in tasks including object detection, classification, and picture segmentation, which has increased the accuracy of medical image analysis.
• Computer vision applications in remote patient monitoring have grown, enabling medical professionals to monitor patients outside conventional hospital settings. The increased focus on telemedicine and virtual healthcare solutions has accelerated this trend.
• Wearable technology has integrated computer vision capabilities for health monitoring.
• Smartphone computer vision technology has been used for several healthcare applications, such as vital sign monitoring and helping with vision-related diagnosis.

Key Computer Vision in Healthcare Market Trends

• Computer vision analyzes video data to enable remote patient monitoring, allowing medical personnel to evaluate patients' conditions without physically visiting them. It favors expanding telemedicine services, particularly where access to medical resources is scarce.
• Computer vision assists in finding new drugs by automating the examination of molecular and cellular structures. It helps scientists comprehend intricate biological relationships and find promising therapeutic possibilities.
• Computer vision technologies are being used to improve the patient experience by facilitating better communication between patients & healthcare professionals and offering individualized care. Applications in this field include facial recognition for patient identification and virtual health aids.

Restraining Factors in the Computer Vision in Healthcare Market

• Using patient information and sensitive medical photos raises privacy and security issues.
• Ensuring adherence to laws like the Health Insurance Portability and Accountability Act is essential, as violation is expected to result in legal ramifications.
• Medical imaging data needs to have common formats and protocols, which is set to make it more difficult for various systems and equipment to communicate with one another.
• Implementing computer vision systems frequently requires a substantial financial commitment. The expenses include developing or buying complex algorithms, hiring staff, and obtaining cutting-edge imaging equipment.

Country-wise Insights

The table below shows the estimated growth rates of the top five countries. South Korea, the United Kingdom, and Japan are set to record high CAGRs of 37.9%, 37.5%, and 37.2%, respectively, through 2034.

Countries	Projected CAGR (2034)
United States	36.8%
United Kingdom	37.5%
China	36.9%
South Korea	37.9%
Japan	37.2%

The table below explains the computer vision in the healthcare market size of the leading five countries for 2034. Among them, the United States is anticipated to remain at the forefront by reaching a valuation of USD 9.9 billion. Japan is expected to reach around USD 5.6 billion by 2034, less than China's USD 8.2 billion.

Countries	Market Value (2034)
United States	USD 9.9 billion
United Kingdom	USD 2.2 billion
China	USD 8.2 billion
South Korea	USD 3.7 billion
Japan	USD 5.6 billion

Growth for Companies of Computer Vision in Healthcare in the United States

The United States computer vision in the healthcare industry is poised to exhibit a CAGR of 36.8% during the assessment period. In 2034, the United States market is expected to reach USD 9.9 billion. The key factors supporting the market growth are:

• Computer vision technologies are widely used in diagnostic and imaging medicine in the United States.
• Data privacy and security are critical issues in the United States due to the sensitivity of healthcare data, especially medical imaging.
• The regulatory landscape, including FDA regulation, is a key factor in determining how computer vision technologies are adopted in the healthcare industry of the United States.

Growing Start-ups and Innovation Propelling Demand in China

China is anticipated to rise at a steady CAGR of 36.9% during the forecast period. This is attributable to a combination of factors, including:

• In China, computer vision is used in surgical operations to give surgeons real-time guidance. Computer vision technologies are increasingly used to guide robotic-assisted operations, improving surgical outcomes.
• A strong ecosystem of start-ups and leading manufacturers in China focuses on developing and using computer vision solutions in healthcare. These organizations stimulate innovation by introducing novel applications and technologies to the market.

Technological Innovations in Japan Paving the Road for Success

Japan's computer vision in the healthcare market is expected to reach a valuation of around USD 5.6 billion by 2034. Top factors supporting the market expansion in the country include:

• Integrating computer vision systems with electronic health records (EHR) in Japan’s healthcare sector is gaining traction.
• Advances in computer vision for healthcare are being fostered in Japan through collaboration between academic centers, research institutes, and healthcare providers.

Rapid Growth of Computer Vision in Healthcare in the United Kingdom

The demand for computer vision in healthcare is increasing in the United Kingdom, with a projected CAGR of 37.5% through 2034. Emerging patterns in the United Kingdom’s market are as follows:

• Seamless integration into computer vision systems and healthcare workflow guarantees the accessibility and usefulness of the insights produced by computer vision technology.
• The COVID-19 epidemic has contributed to a notable increase in telemedicine and remote patient monitoring in the United Kingdom.
• Computer vision technologies enable visual data analysis for remote patient monitoring, contributing to remote healthcare.

Rising Presence of Local and Foreign Manufacturers to Surge Sales in South Korea

The computer vision in healthcare market is projected to increase in South Korea at a CAGR of 37.9% through 2034. The factors driving the market growth are as follows:

• The healthcare industry in South Korea is competitive, with both local and foreign companies providing computer vision solutions.
• Innovation and the creation of cutting-edge technology suited to the demands of the market are fueled by this competition.

Category-wise Insights

The section below shows the hardware segment dominated by components. It is predicted to surge at a CAGR of 36.5% by 2034. Based on product type, the smart camera-based computer vision systems segment is anticipated to generate a dominant share through 2024. It is set to rise at 36.4% CAGR by 2034.

Segment	Projected CAGR (2034)
Hardware (Component)	36.5%
Smart Camera-based Computer Vision Systems (Product Type)	36.4%

Hardware Segment Tops the Component Category

Based on components, demand for hardware is expected to remain high during the valuation period.

• Advanced imaging devices and sensors are the essential hardware components in the healthcare computer vision sector.
• Hardware technology is always improving, which leads to better image quality and diagnostic capabilities.
• Medical imaging devices such as CT scans, MRIs, and X-rays are crucial to the healthcare industry. Hardware components play a key role in these systems' ability to take and process images, which is necessary for diagnosis and treatment planning.
• Wearable technology with computer vision capabilities is gaining traction in the healthcare sector, allowing for patient health monitoring.

Adoption of Smart Camera-based Computer Vision Systems to Surge Through 2034

Based on product type, smart camera-based computer vision systems are expected to surge at 36.4% CAGR by 2034.

• The open-embedded processing technology in smart camera-based computer vision systems eliminates the need for external devices such as frame-capture cards or external computers.
• Smart camera-based computer vision system’s growth is ascribed to its affordability, small size, and straightforward computer vision system integration using smart cameras.

Competitive Landscape

Leading companies have increased their market share primarily through product launches and developments, which are followed by expansions, mergers & acquisitions, contracts, agreements, partnerships, and collaborations. Key companies are employing several strategies to improve market penetration and strengthen their position in the cutthroat sector.

For instance:

• In May 2023, Landing AI unveiled its LandingLens platform's validation-ready iteration.
• In 2023, NVIDIA announced the launch of the Next-Generation GH200 Grace Hopper Superchip Platform for the accelerated generative AI era and computing.
• In 2023, Google unveiled Projectd IDX, an AI-based browser.

Key Companies Profiled

• NVIDIA Corporation
• Microsoft
• Intel Corporation
• IBM Corporation
• Google LLC
• Basler AG
• Arterys Inc.
• AiCure
• iCAD, Inc.
• SenseTime

Computer Vision in Healthcare Market Segmentation by Category

By Component:

• Hardware
• Software
• Services

By Product Type:

• Smart Camera-based Computer Vision Systems
• PC-based Computer Vision Systems

By Application:

• Medical Imaging & Diagnostics
• Surgeries
• Patient Management & Research
• Others

By End-user:

• Healthcare Providers
• Diagnostic Centers
• Academic Research Institutes
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Frequently Asked Questions

How big is computer vision in the healthcare market?

The market is set to reach USD 2.5 billion in 2024.

What is the forecast for computer vision in the healthcare market?

Demand for computer vision in healthcare is slated to expand at a 36.7% CAGR by 2034.

What is the outlook for computer vision in the healthcare market?

The market is expected to reach USD 56.1 billion in 2034.

Who are the key players in computer vision in the healthcare market?

NVIDIA Corporation, Microsoft, and Intel Corporation are the key players.

Which component would lead to computer vision in the healthcare market?

Hardware is estimated to hold a significant market share in 2024.