Medical device companies have had to rapidly adopt emerging technologies such as artificial intelligence (AI) to accommodate the lack of in-person visitations during the Covid-19 pandemic. GlobalData forecasts that medical device companies’ spending on AI is set to witness a compound annual growth rate of 20.6% between 2019 and 2024, and this trend is expected to continue in the future.
Recently, the FDA published a list of artificial AI-enabled medical devices that were approved by the FDA in 2022. Approximately 57% of these devices fall under cardiology. One area of cardiology where researchers are trying to incorporate AI is in predicting heart attacks before they happen.