Growth opportunities in Artificial Intelligence in Healthcare Market look promising over the next six years. This is mainly due to the growing adoption of precision medicine, rising demand for lowering healthcare cost and their various advantages over traditional analytics.
Artificial Intelligence in Healthcare Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The major drivers supplementing the growth of the global artificial intelligence (AI) in the healthcare market include the augmenting demand for lower healthcare costs, availability of extensive and complicated data in big data, rising acquisition of lethal medicines, and upgrading computing capacity, and reducing hardware expenditure. Also, the growing emphasis on improving the quality of patient care by implementing AI across several aspects of healthcare services has strengthened the artificial intelligence (AI) in the healthcare market size. In addition, the mounting utilization of these tools to take care of older people and the increasing focus on enhancing human-aware AI systems are promoting the market share. However, data security and safety concerns, insufficient curated healthcare data, and lower interoperability between AI solutions offered by various vendors are hindering the market growth.
End-Use Application Segment Drivers
Based on the end-use application, in-patient care and hospital management is projected to witness a higher CAGR during the forecast period. This is primarily attributed to the assistance in elevating administrative workflow by AI planning and scheduling method that offers considerable support to the hospital management and patient care. Also, the AI-enabled bots is an application through which patients can communicate using a chatbox on a website or over a telephone. These bots help in planning appointments, collecting the most recent information about patient medications, the care team, and new procedures, checking insurance coverage-related details. These applications fuel the growth of the market.
Regional Drivers
Based on the regional coverage, North America is expected to expand at a faster CAGR over the forecast period. This is mainly owing to the rapid endorsement of these technologies across the continuum of care, especially in the U.S., the prevalence of progressive and technologically sophisticated countries along with higher GDP share disbursed on healthcare. Moreover, the robust existence of leading hardware and software providers, such as NVIDIA, Intel, Microsoft, Amazon Web Service, Google, IBM, is also contributing to the market’s growth.
Artificial Intelligence in Healthcare Market’s leading Manufacturers:
- Amazon Web Services (AWS)
- Medtronic plc
- General Electric (GE) Company
- Google LLC
- Intel Corporation
- Micron Technology, Inc.
- Siemens Healthineers
- Microsoft Corporation
- IBM Corporation
- Nvidia Corporation
Artificial Intelligence in Healthcare Market Segmentation:
Segmentation by Offering
- Hardware
- Processor
- MPU
- GPU
- FPGA
- ASIC
- Memory
- Network
- Software
- AI Solutions
- On-Premises
- Cloud
- AI Platform
- Machine Learning Framework
- Application Program Interface (API)
- Services
- Deployment & Integration
- Support & Maintenance
Segmentation by Technology
- Machine Learning
- Deep Learning
- Supervised Learning
- Reinforcement Learning
- Unsupervised Learning
- Others
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
Segmentation by End-Use Application
- Patient Data and Risk Analysis
- Inpatient Care & Hospital Management
- Medical Imaging & Diagnostics
- Lifestyle Management & Monitoring
- Virtual Assistant
- Drug Discovery
- Research
- Healthcare Assistance Robots
- Precision Medicine
- Emergency Room & Surgery
- Wearables
- Mental Health
Segmentation by End-User
- Hospitals and Providers
- Patients
- Pharmaceutical and Biotechnology Companies
- Healthcare Payers
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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