Mentions of artificial intelligence increased by a CAGR of 41% in the medical device industry since 2020
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The global medical device industry experienced a 41% increase in compound annual growth rate (CAGR) in company filings mentions of artificial intelligence since 2020. Key companies in terms of mentions include iCAD, RadNet, and Venus Concept, according to GlobalData’s analysis of over 1,600 medical device company filings.
Notably, since 2020, artificial intelligence was the most referenced theme in terms of mentions, ahead of big data, digitalisation and cloud, according to GlobalData's Company Filings database. Mentions related to artificial intelligence increased by 15% year-on-year in 2021 and by 53% year-on-year in 2022.
Top five companies by mentions of artificial intelligence in the global medical device industry since 2020
Of the 50 leading companies in the medical device industry, El.En. had the highest year-on-year increase in references to artificial intelligence in 2022. GlobalData identified 284 artificial intelligence related sentences in the company's filings in 2022, 9% of all sentences. Meanwhile, Surgalign Holdings had the highest year-on-year increase in references for artificial intelligence in 2021. GlobalData identified 32 artificial intelligence related sentences in the company's filings in 2021, 2% of all sentences.
Company filings sentiment related to artificial intelligence in the global medical device industry since 2020
GlobalData’s Company Filings Analytics also applies a sentiment weight to reference sentences, based on how positive the sentiment has turned. Sentiment score is based on the level of positivity on a scale of 0 to 1. The average sentiment score for artificial intelligence in 2022 was 0.86, which was more positive compared to the average industry sentiment of 0.53.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
Global Data’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.