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A11322 | Pages: 278 | Charts: 59 | Tables: 143 |
The global healthcare machine vision system market was valued at $617.40 million in 2021 and is projected to reach $4.5 billion by 2031, growing at a CAGR of 22.4% from 2022 to 2031.
The machine vision system is a technology that enables computing devices to evaluate, identify, and inspect still or moving images. Machine vision device in the healthcare sector is designed to provide faster and more accurate diagnoses than physicians. Moreover, it is intended to analyze the health and fitness of patients for better and swifter medical decisions. Machine vision applications are used to convert 2D scan images into 3D models that offer a detailed understanding of a patient’s health conditions.
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Machine vision is popularly used across surgical, access tracking, and patient monitoring applications, owing to the rise in demand for next-generation medical imaging analysis and advanced healthcare monitoring systems. Furthermore, machine vision technology in the healthcare sector uses advanced algorithms to aid image processing to read signals of illness in real-time. Moreover, the technology allows users to make a more accurate diagnosis for more effective treatments. Thus, multiple benefits associated with machine vision technology fuel its adoption in hospitals and clinics, which is expected to notably contribute to the growth of the global market. The global healthcare machine vision system market size is driven by the rising demand for automation in healthcare applications. Moreover, the introduction of cloud-based healthcare solutions and an increase in demand for machine vision-guided robotics in the drug dispensing industry is expected to boost the demand for machine vision technology. Considering these factors, the global machine vision system market is anticipated to experience steep growth in the future.
However, the lack of skilled professionals in developing countries is expected to restrain the healthcare machine vision system market growth. On the contrary, the surge in demand for artificial intelligence (AI)-based equipment in the healthcare sector is anticipated to provide lucrative opportunities for the growth of the global healthcare machine vision system market during the forecast period.
The outbreak of the COVID-19 pandemic boosted the adoption of the machine vision system in the healthcare sector in 2020. Furthermore, the healthcare machine vision system market share is estimated to exhibit a relatively high growth rate till the end of 2022. In addition, the pandemic fostered the healthcare machine vision system market due to a surge in demand for patient monitoring and tracking systems in the healthcare sector worldwide
The healthcare machine vision system industry is segmented into Product Type, Type, and Application.
Based on product type, the healthcare machine vision system market forecast is fragmented into MV cameras with host PC, smart cameras, and vision-based barcode readers.
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Depending on the type, the healthcare machine vision system market outlook is segregated into 1D, 2D, and 3D.
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By application, it is categorized into in vitro diagnostics, access tracking, surgical, patient monitoring, microscopy (histopathology), and drug dispensing.
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Region-wise, the machine vision system market trends in the healthcare sector are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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Significant factors that impact the growth of the global healthcare machine vision system industry include a rise in demand for automation in healthcare applications, an increase in adoption of personalized medicines, the surge in adoption of AI-based technologies & big data in healthcare, and a growth in demand for machine vision-guided robotics in drug dispensing industries. In addition, the market growth is affected by the lack of skilled professionals in developing countries. Furthermore, the introduction of cloud-based healthcare solutions influences the market growth. However, each of these factors is anticipated to have a definite impact on the growth of the global healthcare machine vision system market during the forecast period.
Competitive analysis and profiles of the major global machine vision system market players such as Baumer, Cognex Corporation, FLIR Systems, Inc., Basler, Keyence, Omron Corporation, Teledyne Group, TKH Group, and Sony Corporation are provided in this report.
Key Benefits For Stakeholders
Key Market Segments
Key Market Players