Dublin, April 11, 2024 (GLOBE NEWSWIRE) -- The "Global AI in Endoscopy Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The global AI in endoscopy market is expected to grow at a CAGR of 27.1% during the forecast period of 2024 to 2032, driven by advancements in diagnostic accuracy, real-time decision support, and workflow optimization. While challenges in integration and standardization pose a restraint, the market is adapting to the shift towards AI-driven services and the increasing emphasis on integrated CAD solutions. The segmentation analysis highlights the dynamic nature of the market, with changes in revenue dominance and growth rates based on product types and CAD approaches.
Geographically, the market's trajectory reflects the global distribution of healthcare advancements and the corresponding demand for AI-assisted endoscopic technologies. As competition intensifies, key players are gearing up for a dynamic market landscape, emphasizing innovation and collaboration to maintain their market positions. Overall, AI in endoscopy market presents promising opportunities for companies contributing to the ongoing evolution of AI technologies in the field of medical diagnostics and endoscopic procedures.
Study Coverage
This study represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. It presents a Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
The report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Enhanced Diagnostic Accuracy
One of the primary drivers of the AI in endoscopy market is the significant enhancement in diagnostic accuracy facilitated by artificial intelligence. AI algorithms, particularly in CADx (Computer-Aided Diagnosis), have demonstrated the ability to analyze endoscopic images with a high level of precision, aiding in the early detection of abnormalities and diseases.
Companies like Medtronic and Olympus have incorporated AI-powered diagnostic tools into their endoscopic systems, contributing to improved patient outcomes. Evidence from clinical studies showcases the superiority of AI-assisted diagnostics in detecting subtle abnormalities that may be overlooked by traditional methods, thereby reducing false-negative rates and enhancing overall diagnostic accuracy.
Real-time Decision Support
The integration of AI in endoscopy provides real-time decision support to healthcare professionals, constituting a significant driver for market growth. AI algorithms embedded in endoscopic systems offer immediate insights and recommendations during procedures, empowering clinicians to make informed decisions swiftly. Key players such as Pentax Medical and Fujifilm have developed AI-assisted endoscopy solutions that provide real-time guidance for lesion detection and characterization. The evidence supporting the impact of real-time decision support is evident in the improved efficiency of endoscopic procedures, reduced procedural time, and the ability to make critical decisions promptly, ultimately leading to better patient care outcomes.
Workflow Optimization and Efficiency
The incorporation of AI technologies in endoscopy contributes to workflow optimization and increased procedural efficiency. AI-driven automation and assistance tools, integrated by companies like Stryker and Karl Storz, streamline the endoscopic workflow by automating routine tasks and providing intelligent insights. This not only expedites the examination process but also minimizes the workload on healthcare professionals. Evidence from hospital adoption of AI-assisted endoscopy solutions demonstrates improved resource utilization, reduced procedure times, and enhanced overall efficiency in patient care.
Challenges in Integration and Standardization
A notable restraint in the AI in endoscopy market is the challenge associated with the integration and standardization of AI technologies across different endoscopic systems. The evidence lies in the variations in AI algorithms and system interfaces implemented by different manufacturers, leading to potential interoperability issues. Standardizing AI integration in endoscopy poses a complex challenge, hindering seamless collaboration among different healthcare facilities and limiting the widespread adoption of AI-assisted endoscopic technologies. Overcoming these integration challenges is crucial for unlocking the full potential of AI in endoscopy and ensuring a consistent and standardized experience for healthcare providers.
Market by Type Segmentation: Product Segment Dominates the Market
The AI in endoscopy market is segmented by type into products and services. In 2023, products dominated the market in terms of revenue, driven by the sales of AI-integrated endoscopic devices. However, during the forecast period from 2024 to 2032, services are expected to exhibit both the highest revenue and the highest Compound Annual Growth Rate (CAGR). The shift towards services is supported by the increased demand for AI consultancy, training, and maintenance services, reflecting the growing recognition of the importance of a comprehensive AI ecosystem in endoscopy.
Market by CAD Segmentation: CADx Dominates the Market
Further segmentation based on CAD includes CADx (Computer-Aided Diagnosis), CADe (Computer-Aided Detection), and a combination of both (CADe/CADx). In 2023, CADx led in terms of revenue, indicating a strong preference for AI-powered diagnostic solutions. Looking ahead to the period from 2024 to 2032, CADe/CADx is expected to exhibit the highest CAGR. This shift reflects the industry's emphasis on integrated diagnostic and detection solutions, offering a comprehensive approach to endoscopic image analysis.
North America Remains the Global Leader
Geographically, AI in endoscopy market exhibits trends that vary across regions. Asia-Pacific is expected to have the highest CAGR during the forecast period, driven by increased healthcare infrastructure development, rising awareness, and the adoption of advanced medical technologies. North America is anticipated to maintain the highest revenue percentage in 2023, with established markets for AI-integrated endoscopic solutions. Europe, while slightly behind North America in revenue, is poised for steady growth. These trends highlight the global distribution of the market's growth and the importance of regional dynamics in shaping future trends.
Market Competition to Intensify during the Forecast Period
The AI in endoscopy market is characterized by intense competition among key players, which are:
- Medtronic
- Olympus
- Pentax Medical
- Fujifilm
- Stryker
- Karl Storz
- Wision A.I.
- NEC Corporation
- Odin Vision
- Magentiq Eye Ltd.
- Wuhan EndoAngel Medical Technology Company
- Iterative Scopes
Strategies employed by these players include continuous innovation in AI integration, strategic collaborations, and global expansions.
In 2023, Medtronic led in terms of revenue, leveraging its diversified portfolio of AI-powered endoscopic products. Over the forecast period from 2024 to 2032, all key players are expected to focus on R&D, partnerships, and acquisitions to maintain their competitive edge. The emphasis on addressing integration challenges and providing comprehensive AI solutions is anticipated to drive the market forward.
Market Segmentation
Type
- Products
- Services
CAD
- CADx
- CADe
- CADe/CADx
End-user
- Hospitals
- Ambulatory Surgical Centers
- Others
Region (2021-2031; US$ Million)
- North America
- UK and European Union
- Asia Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/hg445
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