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AI In Medical Devices Market Forecast: What Market Value Is Expected By 2030?
The market size for AI in medical devices has experienced remarkable growth in recent years. It is forecast to expand from $12.38 billion in 2025 to $16.16 billion in 2026, achieving a compound annual growth rate (CAGR) of 30.5%. The historic period’s growth can be attributed to advancements in medical device technology, the rising burden of chronic diseases, the growing adoption of digital health solutions, increasing healthcare automation, and the demand for accurate diagnostics.
The market size for AI in medical devices is projected to experience substantial expansion over the coming years. By 2030, this market is anticipated to reach $42.43 billion, exhibiting a compound annual growth rate (CAGR) of 27.3%. This projected increase during the forecast period is primarily driven by the incorporation of AI into clinical processes, increasing financial commitments to intelligent healthcare infrastructure, the escalating need for tailored treatments, the broadening scope of remote patient monitoring, and the rising number of regulatory approvals for AI-powered devices. Notable developments anticipated within this timeframe encompass AI-powered diagnostic tools, sophisticated surgical assistance systems, devices for predictive patient monitoring, intelligent wearable medical technology, and the integration of clinical decision support systems.
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AI In Medical Devices Market Expansion Supported By Key Demand Factors
The increasing need for personalized medicine is anticipated to significantly boost the expansion of the AI in medical devices market in the future. Personalized medicine defines a tailored healthcare strategy that considers unique patient characteristics such as genetics, surroundings, and lifestyle, aiming to improve treatment efficacy and results. This escalating demand for personalized medicine stems from multiple elements, including progress in genomics, greater patient autonomy, and enhanced treatment effectiveness. AI processes vast amounts of patient data, comprising genetic details, past medical records, and lifestyle aspects, to develop a thorough insight into individual profiles, thereby enabling customized treatment approaches. As an illustration, in February 2024, the Personalized Medicine Coalition, a US-based non-profit organization, reported that the FDA granted approval to 16 new personalized therapies for patients with rare diseases in 2023, in contrast to six in 2022. Consequently, the rising demand for personalized medicine fuels the growth of AI in medical devices market.
AI In Medical Devices Market Segment Landscape: Which Areas Lead Market Development?
The AI in medical devices market covered in this report is segmented –
1) By Offerings: Hardware, Software, Services
2) By Technology: Context Awareness, Deep learning, Machine learning, Natural Language Processing, Predictive Analytics, Other Technologies
3) By Deployment: Cloud, On-Premise
4) By Application: Patient care, Treatment, Diagnosis And Monitoring, Other Applications
5) By End-User: Hospitals And Healthcare Providers, Patients, Pharmaceuticals And Biotechnology Companies, Healthcare Payers, Other End Users
Subsegments:
1) By Hardware: Imaging Devices, Wearable Devices, Surgical Robots, Monitoring Devices, Diagnostic Equipment
2) By Software: Imaging Software, Data Analytics Software, Clinical Decision Support Software, Patient Management Software, Workflow Automation Software
3) By Services: Consulting Services, Maintenance And Support Services, Training Services, Integration Services, Managed Services
AI In Medical Devices Market Transformation Trends: Which Innovations Are Driving Change?
Leading companies in the AI in medical devices market are actively pursuing strategic collaborations to expedite AI development within the healthcare system and secure a competitive advantage. These alliances aim to leverage AI’s capabilities to enhance drug discovery, design, and development processes, alongside improving medical device manufacturing efficiency and mitigating risks via machine learning. For example, in March 2023, Medtronic, an Ireland-based medical device company, partnered with NVIDIA Corporation, a US-based software company, to establish an AI platform for medical devices. Through this collaboration, the companies will integrate NVIDIA’s healthcare and edge AI technology into the Medtronic GI Genius intelligent endoscopy module, developed and manufactured by Cosmo Pharmaceuticals. GI Genius, the first AI-assisted colonoscopy tool approved by the FDA, assists doctors in identifying polyps that could potentially evolve into colorectal cancer. Consequently, this strategic cooperation is intended to accelerate AI development in healthcare and introduce novel AI-based solutions into patient care.
AI In Medical Devices Market Industry Leaders And Market Competition
Major companies operating in the AI in medical devices market are General Electric Company; Medtronic plc; Siemens Healthineers AG; Nvidia Corporation; Intel Corporation; International Business Machines Corporation; Koninklijke Philips N.V.; Enlitic Inc.; Cloudmedx Inc.; Oncora Medical Inc.; Path AI Inc.; Aidoc Medical Ltd.; Accuray Incorporated; AliveCor; Arterys Inc.; Augmedics Inc.; Brainomix Ltd.; Butterfly Network Inc.; Canon Medical Systems Corporation; CureMetrix Inc.
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AI In Medical Devices Market Regional Outlook: Where Are The Largest Opportunities Located?
North America was the largest region in the AI in medical devices market in 2025. The regions covered in the AI in medical devices market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
