Artificial intelligence (AI) is predicted to disrupt the women’s healthcare market in the US, as medical device companies are forecast to spend $500 million on AI platforms by 2024, up from $200 million in 2019, and representing an impressive compound annual growth rate (CAGR) of 20.6%, according to GlobalData. The leading data and analytics company notes that diagnostic tools such as Ultrasound AI’s Preterm AI (PAI), which will be used to predict preterm birth (PTB) will disrupt the prenatal market providing assistance to sonographers, as opposed to threatening their jobs.
According to GlobalData’s latest report, ‘Prenatal Screening Market Size by Segments, Share, Trend and SWOT Analysis, Regulatory and Reimbursement Landscape, Procedures, and Forecast, 2015-2030’, prenatal screenings will continue to account for the majority of revenue in North America’s women’s health market, which was valued at $148.6 million in 2015 and is expected to reach $170.4 million in 2025.
Cynthia Stinchcombe, Medical Devices Analyst at GlobalData, comments: “While AI will not replace sonographers, it will certainly be disruptive to the market. It will be a valuable teaching tool and support testing and validation. Imaging professionals can help drive the technology’s advancements, as it requires skilled sonographers to facilitate the right decision and assessment paths.”
AI is also making waves in the healthcare industry at large, with the market set to reach $4.3 billion by 2024, up from $1.5 billion in 2019.
