The State Of A.I.-Based, FDA-approved Medical Devices And Algorithms – An Online Database

Regulatory authorities such as the U.S. Food & Drug Administration (FDA) and the European Medicine Agency (EMA) are heavily regulating the medical landscape when it comes to artificial intelligence (A.I.)-based solutions. The FDA, in particular, took the lead, having issued a specific framework for A.I.-based algorithms.

However, even this leading authority, like other regulatory bodies, does not provide a comprehensive database of these tools that it has approved. One can expect such information to be readily available, especially for a prominent technology like A.I. But the very authorities regulating the landscape failed to provide it.

It’s a booming market and it’s not because of its hype. The number of life science studies published around A.I. rose from 596 in 2010 to 12,422 in 2019. Such smart algorithms promise to augment medical practice from eliminating alarm fatigue through improving prosthetics to managing a pandemic.

Moreover, according to forecasts, the global market size for A.I. in healthcare will soar past its $1 billion valuation in 2016 to $28 billion in 2025. This trend is not showing any signs of slowing down as we march steadily into the A.I. era of healthcare. As such, expectations are high within the medical community.