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    Home > Active Ingredient News > Drugs Articles > The development status and prospect of AI+ medical device industry

    The development status and prospect of AI+ medical device industry

    • Last Update: 2023-02-03
    • Source: Internet
    • Author: User
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    preface

    preface

    AI+ medical devices refer to medical devices that use artificial intelligence technology, including artificial intelligence independent software and artificial intelligence software components
    .
    Its application in the fields of adjuvant therapy and medical image processing is becoming more and more extensive, and has become one of the hot tracks for the development of the medical device industry in the
    future.
    The rise of a new generation of artificial intelligence technology provides new ideas and means for the medical industry to achieve intelligent transformation, and also brings major opportunities
    for the development of the medical device industry.
    China's artificial intelligence medical device industry has a rapid development momentum, artificial intelligence medical device industry ecology has basically formed, facing the future, the commercialization of AI+ medical devices will surely make breakthroughs
    .

    Facing the future, the commercialization of AI+ medical devices will surely make breakthroughs
    .

    01 AI+ Medical Device Market Analysis

    01 AI+ Medical Device Market Analysis

    The artificial intelligence medical device market has broad
    prospects.
    Artificial intelligence technology brings great opportunities
    for the development of the device industry.
    On the one hand, trends such as population aging and the younger age of chronic diseases have led to the continuous rise of people's medical and health needs, and artificial intelligence medical treatment is conducive to alleviating the imbalance between supply and demand of medical resources, providing key ideas
    for the transformation and upgrading of the medical industry.
    On the other hand, China's high-end medical device industry has long had some key process technologies subject to people, the level of manufacturing and assembly of the whole machine is relatively low, etc.
    , promote artificial intelligence technology embedded in high-end medical devices, improve the degree of intelligence of control, imaging and other systems, can accelerate product upgrading and performance improvement, help promote the industry to achieve leapfrog development
    .

    Artificial intelligence technology brings great opportunities
    for the development of the device industry.

    From a global perspective, the AI+ medical device market size increased from $86.
    5 million in 2016 to $506 million in 2021, with a compound growth rate of 42.
    4%, and is expected to grow to $3.
    496 billion in 2024, with a compound growth rate of 118.
    5%
    in the next three years.

    Figure: Market size in the field of AI+ medical devices (billion US dollars) Source: Firestone Creation is collated according to public data

    China's AI medical device market started late, and the market is still in its early stages
    .
    In recent years, China's AI medical device market has developed rapidly, and the market scale has grown rapidly, from 125 million yuan in 2019 to 682 million yuan in 2021, and is expected to grow to 8.
    716 billion yuan in 2024, with a compound growth rate of 133.
    9%
    in 3 years.

    China's AI medical device market started late, and the market is still in its early stages
    .

    Figure: China's AI+ medical device market size (100 million yuan) Source: Firestone Creation is organized according to public data

    The number of financing events has slowly declined, and the amount of financing has gradually recovered
    since 19 years.
    In 2016, the global AI+ medical device industry achieved financing of 970 million US dollars and completed 62 financing events
    .
    In the following two years, the financing events and amounts in the AI+ medical device field increased significantly, reaching a peak in 2018, with the financing amount reaching US$2.
    01 billion
    .
    However, in 2019, with the arrival of the cold winter of financial capital, the amount and quantity of AI+ medical device financing have decreased
    significantly.
    In 2020, with the issuance of three types of certificates in the field of medical devices, the focus of the industry shifted from R&D to commercialization and other factors, and the investment and financing in the field of AI+ devices increased again; In 2021, a total of 58 financings were generated in the global AI+ device field, with a total financing of US$1.
    733 billion
    .

    Figure: Investment and financing of the global AI+ medical device industry from 2016 to 2021 Source: Firestone Creation is based on public data

    The investment and financing situation of China's AI+ medical device industry has gradually rebounded
    .
    Since 2016, the investment and financing amount of China's AI+ medical device industry has reached 360 million yuan, reaching a peak in 2017 and 18, and the investment and financing amount of AI+ medical devices has reached 1.
    37 billion yuan
    .
    In 2019, the investment and financing of AI+ medical device industry fell off a cliff, falling to 490 million yuan, and with the advent of the post-epidemic era and the gradual recovery of capital confidence, the investment and financing amount of AI+ medical device industry has gradually recovered, reaching 1.
    21 billion yuan
    in 2021.

    The investment and financing situation of China's AI+ medical device industry has gradually rebounded
    .

    Figure: Investment and financing of China's AI+ medical device industry from 2016 to 2021 Source: Firestone Creation is collated according to public data

    02 AI+ medical device application scenarios

    02 AI+ medical device application scenarios

    In terms of application scenarios, medical imaging is the most widely used and mature scenario of AI in the medical field
    .
    The annual number of medical imaging examinations in China exceeds 7.
    5 billion, and the scale of China's medical imaging market reached 52.
    37 billion yuan in 2021 and is expected to reach 57.
    76 billion yuan
    in 2022.
    The huge volume of examinations has brought about the rapid growth of imaging data, and the current annual growth rate of imaging data has reached 30%, while the annual growth rate of radiologists in the same period is only 4%, forming a large supply gap
    .
    The shortage of radiologists has led to a high misdiagnosis rate, strong availability of medical image data, easy labeling, and a relatively high degree of standardization, which greatly reduces the threshold
    for AI application.
    Therefore, medical imaging has become the main application market
    for AI at present.

    In terms of application scenarios, medical imaging is the most widely used and mature scenario of AI in the medical field
    .

    For AI+ medical devices, the key application scenarios are mainly divided into the following aspects:

    Out-of-hospital surveillance
    for exacerbation of pulmonary obstruction.
    Early identification of patients at high risk of COPD exacerbations and individualized interventions can help improve clinical outcomes
    .
    Through the combination of patient information and acute attack modeling, an AI prediction model and out-of-hospital monitoring model for acute exacerbation risk are established to warn
    patients of COPD in advance of future acute attacks.

    Out-of-hospital surveillance
    for exacerbation of pulmonary obstruction.

    AI-assisted interpretation of cancer imaging
    .
    In the field of lung cancer, AI-assisted cancer detection, benign and malignant analysis, and quantitative analysis are of great significance
    for doctors to quickly and accurately judge patients' conditions during large-scale screening.
    In the field of breast cancer, breast ultrasound-assisted AI provides higher diagnostic accuracy and diagnostic efficiency for breast cancer ultrasound screening, and facilitates early screening and early diagnosis
    of breast cancer.

    AI-assisted interpretation of cancer imaging
    .

    CT screening for COPD
    .
    Pulmonary function test is the gold standard for COPD diagnosis, due to many factors such as the low prevalence rate of primary pulmonary function instrumentation and the high requirement of pulmonary function test for patients, patients are missed, misdiagnosed, and the best intervention time
    is missed.
    Imaging AI technology has been widely used in the diagnosis and evaluation
    of tumors and cardiovascular and cerebrovascular diseases.

    CT screening for COPD
    .

    03 Development of AI+ medical device industry segments

    03 Development of AI+ medical device industry segments

    In the development of AI medical treatment in China, AI medical imaging is the hottest application field, and its main application scenarios are medical health and general health, the growth rate is higher in the two scenarios, and the overall market size of AI medical imaging is expected to grow at a compound rate of 102.
    4%
    in the next five years.
    AI medical imaging applications mostly start with a single disease, mainly based on simple image training, from the perspective of landing applications, mainly in the field of tumors and chronic diseases, of which lung nodules and fundus screening are the two disease areas with the most layout of enterprises, and breast cancer is also one of the
    hot fields.

    The overall market size of AI medical imaging is expected to grow at a compound rate of 102.
    4%
    in the next five years.

    Table: Disease Application Areas of AI Medical Imaging

    Source: Flint Creation, compiled according to publicly available information

    The investment and financing of artificial intelligence medical imaging track have gradually cooled, and the competition of AI medical imaging enterprises has intensified
    .
    From 2019 to 2022, the investment and financing of artificial intelligence medical imaging enterprises gradually cooled down, and enterprises began to focus on how to optimize products, improve the quality of basic data, continuously improve and optimize algorithms, and a large number of scientific research cooperation, so that artificial intelligence impact products are gradually accepted and recognized
    by hospitals.
    As the clinical value of AI medical imaging is gradually recognized and it enters the stage of competing products and commercialization capabilities, the competition between enterprises will become more intense
    .

    The investment and financing of artificial intelligence medical imaging track have gradually cooled, and the competition of AI medical imaging enterprises has intensified
    .

    Figure: Number of financing rounds of artificial intelligence medical imaging enterprises from 2016 to 2022 Source: Firestone Creation is based on public information

    Artificial intelligence medical imaging software products have been approved for three types of devices, mainly concentrated in the fields
    of cardiovascular, bone, fundus, and lung.
    As of August 31, 2022, NMPA has approved a total of 45 medical AI-assisted diagnosis software for the market, covering CT, MR, DR and other related imaging equipment, providing AI-assisted diagnosis
    for cardiovascular diseases, chest diseases, fundus, orthopedic diseases, children's production and development assessment, lungs, etc.

    Artificial intelligence medical imaging software products have been approved for three types of devices, mainly concentrated in the fields
    of cardiovascular, bone, fundus, and lung.

    Figure: Approval of NMPA in three types of artificial intelligence medical imaging certificates from 2020 to 2022 Source: Flint Creation, compiled based on publicly available data

    Figure: Approval of AI medical imaging three types of devices from 2020 to 2022 Source: Flint Creation is based on public information

    AI Robot China's surgical robot industry has developed rapidly, and the average annual compound growth rate of market size in the past 5 years has exceeded 30%.

    At present, the surgical robot industry, which is still in the early stage of development, is still expensive in technology, research and development, and time; And it is inseparable from the support
    of policy and capital.
    Relevant enterprises should seize the opportunity of the national policy to support the industry and strive to solve the problems
    faced in the current development.
    In terms of capital, at present, the investment and financing of the domestic surgical robot industry has accelerated
    significantly.
    According to statistics, the number of investment and financing has increased significantly, and the total financing amount of the entire track has exceeded 3 billion yuan
    .
    In the view of the investment community, from both academic and clinical aspects, surgical robots have received high attention, and reflect a certain health economic value, in the next 5-10 years, surgical robots should be more and more recognized by the market
    .

    AI Robot China's surgical robot industry has developed rapidly, and the average annual compound growth rate of market size in the past 5 years has exceeded 30%.

    AI-assisted diagnosis and treatment is mainly based on single diseases, and the application is concentrated in the field of
    tumors.
    AI-assisted diagnosis is based on massive medical data and artificial intelligence algorithms, using cognitive computing, deep learning, computer vision and other technologies to discover disease rules, and provide assistance
    for doctors to diagnose diseases and formulate treatment plans.

    AI-assisted diagnosis and treatment is mainly based on single diseases, and the application is concentrated in the field of
    tumors.

    Figure: Construction of AI-assisted diagnosis system Source: Flint Creation is based on publicly available information

    Table: AI-assisted diagnosis application scenarios and main products

    Source: Flint Creation, compiled according to publicly available information

    04 The future development direction of AI+ medical devices

    04 The future development direction of AI+ medical devices

    The new generation of artificial intelligence technology represented by deep learning will empower the field of
    medical devices.
    At present, artificial intelligence medical devices are mainly used in the diagnosis, treatment, monitoring, rehabilitation and other fields of diseases, and have emerged in auxiliary decision-making, medical data processing, health management and other aspects
    .
    Since 2020, medical device products using deep learning technology have been approved for marketing one after another, medical devices based on a new generation of artificial intelligence technology are accelerating into clinical application, artificial intelligence medical devices have entered the commercialization stage, and their clinical value has become increasingly prominent
    .

    The new generation of artificial intelligence technology represented by deep learning will empower the field of
    medical devices.

    The ecology of the artificial intelligence medical device industry has basically taken shape
    .
    The traditional medical and health industry is the provider of data resources, and the new generation of artificial intelligence algorithm R&D enterprises, medical informatization and medical device enterprises jointly lead product research and development, empower the traditional medical and health industry, and form an industrial ecological closed loop
    .
    With the improvement of technology and the deepening of application, several typical products have been developed, including intelligent auxiliary diagnosis products, intelligent auxiliary treatment products, intelligent monitoring and life support products, intelligent rehabilitation physiotherapy products, and intelligent traditional Chinese medicine diagnosis and treatment products
    .

    The ecology of the artificial intelligence medical device industry has basically taken shape
    .

    The bottleneck of artificial intelligence technology needs to be further broken
    .
    On the one hand, the existing volume of medical data is difficult to support artificial intelligence for full learning, and the application results of artificial intelligence technology in small data scenarios are still unsatisfactory
    .
    On the other hand, many medical AI algorithms lack medical explainability, and patients cannot understand the basis behind the diagnosis decision when seeking medical treatment, which affects the trust of doctors and subsequent treatment effects, which to a certain extent leads to greater doubts and concerns
    about the application of artificial intelligence in the medical industry than in other industries.

    The bottleneck of artificial intelligence technology needs to be further broken
    .
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