This was a long-awaited opportunity for the medical device manufacturing business. AI-infused systems and technologies are driving a slew of changes for medical device manufacturers, from improving telehealth capabilities to increasing patient adherence, as they scramble to put together more resilient remote servicing models that are cheaper and more effective in disseminating therapeutic benefits to those in need. 

With nearly 77% of surveyed manufacturers citing digital transformation as a priority, it is no surprise that the medical device manufacturing industry is embracing these technologies with renewed zeal in order to differentiate the effectiveness and cost benefits of their therapeutic products, particularly in light of the commoditization of specific medical devices, the trends driving value/outcomes-based healthcare, and increased pricing pressure.

Reasons to Adopt AI in Medical Device Manufacturing for Better Patient Outcomes

According to Frost & Sullivan, AI can improve patient outcomes by 30% to 40% while lowering treatment costs by up to 50%. As physicians report high rates of burnout and patients want more attentive care for increasingly complicated concerns, artificial intelligence (AI) has proven to be a realistic option in lessening the strain on physicians and enabling them to care for more people attentively and effectively. Increased patient adherence, improved clinical decision-making, and lower costs for crucial technology such as MRI scans demonstrate how AI improves patient outcomes.

Enhanced Regulatory Control

Medical devices are subject to strong regulatory regulations that give reasonable assurance of their safety and effectiveness due to their ability to alter patients' health outcomes for better or worse. While limiting the market supply of malfunctioning appliances, this level of authority has the unintended consequence of impeding the adoption of breakthrough technology such as AI in medicine and highly controlled and validated procedures in medical device manufacture. AI can speed up this process by generating more meaningful insights from minor patterns in vast data sets and advanced analytics on how systems work over time and across many circumstances.

Diagnosis is now faster and safer.

AI-centric apps that aid in medical diagnostics are among the most promising and popular medical technology applications, predicted by Forrester to be the second-largest AI software segment by 2025. This is a windfall for manufacturers since they now have access to a whole new source of growth. AI-enabled devices can diagnose with speed and accuracy, from early detection of breast cancer to estimating risks from cardiac illnesses.

Identifying Safety Signals Proactively

One of the distinguishing features of AI-enabled systems is the use of bioelectric markers and movement patterns to identify patient well-being. Shortly after its release, the Apple Watch was utilized to save the lives of many of its users, who credited it with assisting them in surviving dangerous situations where they were all alone. Companies are on the verge of mastering and democratizing this technology; the only difficulty is delivering it to patients, which represents yet another opportunity for device manufacturers.

Rapid Drug Development

One of the areas of medicine that stands to profit the most from AI and related technologies is drug development. The process of developing a medicine can be extremely resource-intensive, needing thousands of person-hours and millions of hours. A closer look at the process reveals that the analytical work takes the majority of the time to complete across the stages of drug development.

Disease Diagnosis

In a world beset by travel limitations, limited hospital visits, and the delay of important care tasks, medical health providers look for alternate ways to engage with their patients in meaningful ways while remaining mindful of their operating limits.