PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498794
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498794
Artificial Intelligence in Neurology Operating Room Market size was valued at USD 1,068.92 Million in 2023, expanding at a CAGR of 35.30% from 2024 to 2032.
Artificial intelligence (AI) is transforming the realm of neurosurgery by elevating surgical accuracy, enhancing patient results, and optimizing the workflow within operating rooms. The implementation of AI in neurosurgery aims to enhance patient outcomes, minimize the likelihood of complications, and expedite surgical procedures. By utilizing AI algorithms, patient data can be analyzed, surgical plans can be devised, surgical instruments can be guided, brain activity can be monitored, and post-operative care can be improved. The integration of AI into neurosurgical practice offers numerous advantages, including pre-operative planning, intraoperative navigation, real-time monitoring, and post-operative care.
Artificial Intelligence in Neurology Operating Room Market- Market Dynamics
Increasing demand for precision and efficiency in neurosurgical procedures is expected to drive the market growth
Neurosurgery frequently involves intricate procedures in extremely sensitive regions of the brain or spinal cord. AI-powered systems can offer real-time guidance and decision support to neurosurgeons, empowering them to navigate complex anatomical structures with unparalleled precision. The integration of AI not only enhances precision and efficiency but also has the potential to generate cost savings for healthcare providers and payers. As per the National Center for Biotechnology Information, approximately 68.3% of these procedures were elective. The occurrence rates for maximum measures were comparatively low, with less than 20 cases per 100,000 person-years. Moreover, the market growth in the field of neurosurgery is being driven by innovative technologies such as surgical robotics, augmented reality (AR), and predictive analytics. However, concerns regarding data security and privacy may pose limitations to the expansion of the market.
Artificial Intelligence in Neurology Operating Room Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 35.30% over the forecast period (2024-2032)
Based on Component segmentation, Software-as-a-Service was predicted to show maximum market share in the year 2023
Based on technology segmentation, Machine Learning (ML) and Deep Learning was the leading type in 2023
Based on Indication segmentation, Neurotechnology was the leading type in 2023
Based on application segmentation, Training Diagnosis was the leading type in 2023
Based on end-user segmentation, Hospitals were the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Artificial Intelligence in Neurology Operating Room Market is segmented based on Component, technology, Indication, Application, End User, and Region.
The market is divided into three categories based on Component: Software-as-a-Service and Hardware. Software-as-a-Service dominates the market. SaaS providers can continuously update their software with the latest features and security patches without interrupting the user experience.
The market is divided into two categories based on technology: Machine Learning (ML) and Deep Learning, Natural Language Processing (NLP), and Others. Machine Learning (ML) and Deep Learning dominate the market. The integration of Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning in the Neurology Operating Room (OR) market is revolutionizing neurosurgery by enhancing surgical precision, improving patient outcomes, and optimizing operational efficiency.
The market is divided into two categories based on Indication: Neurotechnology and Neurosurgery. Neurotechnology dominates the market. Artificial Intelligence (AI) and neurotechnology in the Neurology Operating Room (OR) market represents a cutting-edge convergence of technologies aimed at revolutionizing neurosurgical procedures, improving patient outcomes, and enhancing overall operational efficiency.
The market is divided into two categories based on Application: Training Diagnosis, Surgical Planning and Rehabilitation, Outcomes and Risk Analysis, Integration and Connectivity, and Others. Training Diagnosis dominates the market. the integration of AI in neurology OR training and diagnosis is set to transform the field, offering new possibilities for improving surgical skills, diagnostic accuracy, and patient outcomes.
The market is divided into two categories based on Users: Hospitals, Ambulatory Surgical Centers, and Others. Hospitals dominate the market. The future of AI in the neurology OR market in hospitals is promising, with ongoing advancements expected to further enhance surgical precision, patient outcomes, and operational efficiency.
Artificial Intelligence in Neurology Operating Room Market- Geographical Insights
This market is geographically widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is dominated by North America, primarily due to its investments in healthcare technology and favorable regulatory environments. North America, especially the United States, is renowned for its substantial investments in healthcare technology. The region boasts a thriving ecosystem of healthcare innovation, which includes research institutions, technology companies, and venture capital firms. This ecosystem drives the development and adoption of AI solutions in neurology operating rooms. For instance, the U.S. is expected to invest USD 36.7 billion in the next decade to enhance the public health infrastructure of State, Territorial, Local, and Tribal (STLT) entities, as stated by the Healthcare Information and Management Systems Society. Europe, on the other hand, holds the second-largest region for market growth, primarily due to the presence of strong academic and research institutions.
The competitive landscape of Artificial Intelligence in the Neurology Operating Room Market is characterized by a drive to innovate and enhance neurosurgical outcomes, improve diagnostic accuracy, and optimize operational efficiency in hospitals. Companies are making substantial investments in research and development to develop advanced AI algorithms and tools that can effectively analyze neuroimaging data, aid in surgical planning, and offer real-time intraoperative guidance. With the continuous evolution of AI technologies, there is great potential for significant enhancements in neurosurgical procedures, better patient outcomes, and a transformation in the delivery of neurological care within hospital settings.
Medtronic, a renowned healthcare technology leader worldwide, has further enhanced its digital capabilities by introducing advanced AI algorithms for post-operative analysis. These algorithms offer valuable surgical insights for both laparoscopic and robotic-assisted surgeries. In addition, Medtronic has also introduced Touch Surgery Live Stream, as part of its ongoing efforts to integrate computing power into operating rooms on a global scale.
On March 18, 2024, Johnson & Johnson MedTech announced their collaboration with NVIDIA to expedite and expand the implementation of artificial intelligence (AI) in surgical procedures. This partnership aims to enhance the accessibility of real-time analysis and the global availability of AI algorithms for surgical decision-making, education, and collaboration within the interconnected operating room (OR).
Activ Surgical has recently announced the successful completion of the inaugural AI-enabled case utilizing its ActivSight Intelligent Light product. Activ Surgical, headquartered in Boston, has developed ActivSight to offer improved visualization and immediate surgical insights during operations. This adaptable model effortlessly connects to laparoscopic and robotic systems, while also seamlessly integrating with standard monitors.
GLOBAL ARTIFICIAL INTELLIGENCE IN NEUROLOGY OPERATING ROOM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Activ Surgical Inc.
Brainomix Limited
Caresyntax Corporation
DeepOR S.A.S.
ExplORer Surgical Corp.
GE Healthcare Technologies, Inc.
Getinge AB
Hill-Rom Holdings, Inc.
Holo Surgical Inc.
IMRIS inc.
Johnson & Johnson Services, Inc.
KARL STORZ SE & CO. KG
Koninklijke Philips N.V.
LeanTaaS Inc.
Medtronic PLC
NeuroOne Medical Technologies Corporation
Proximie Limited
Scalpel Limited
Siemens Healthcare GmbH
Stryker Corporation
Surgalign Spine Technologies Inc.
Surgical Theater, Inc.
Theator Inc.
Toshiba Corporation
Other