Healthcare Artificial Intelligence Market Overview
The healthcare artificial intelligence market is anticipated to reach USD 12.22 Billion at 51.9% CAGR during the forecast period, says Market Research Future (MRFR). Artificial intelligence is the biggest gamechanger for the global healthcare sector, especially when it comes to the robotic-assisted surgeries. Such robots work by utilizing data from past surgical experiences to provide enhanced insights, which can ultimately be used by the surgeon anytime in the future. These factors help improve the surgical outcome to a large extent, helping elevate the appeal of the AI technology in surgery centers.
MRFR experts anticipate the healthcare artificial intelligence market’s status-quo should witness a dramatic surge in the coming few years. The technology is progressively being democratized by some of the biggest IT giants in the world, such as IBM Watson Health, Microsoft, Google, Philips, Salesforce, GE Healthcare, and Amazon. These companies offer affordable but highly quality services to speciality as well as modular-specific vendors, helping end-users provide precision diagnosis, treatment, and follow-up to patients all across the entire healthcare spectrum.
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The global industry notes extreme competition between the major vendors, in conjunction with the rising number of cross-firm partnerships, collaborations, agreements and many more. To cite a reference, in February 2022, Biofourmis, a tech firm with expertise in artificial intelligence-based virtual care as well as digital therapeutics, introduced Bioformis Care, a platform aiming to offer quality remote care to those suffering from chronic ailments. Biofourmis Care will aim to improve the provider adherence to healthcare guidelines while identifying patterns associated with medical deterioration to facilitate faster interventions.
Healthcare Artificial Intelligence Market Segmentation
The healthcare artificial intelligence market can be considered for application, end-user, component, region, as well as technology.
The application-based segments analyzed in the MRFR appraisal are clinical trial, automated image diagnosis, preliminary diagnosis, dosage error reduction, virtual nursing assistant, and robot-assisted surgery.
The healthcare artificial intelligence market has a number of major end-users, namely academic & research laboratories, pharmaceutical & biotechnology companies, and hospitals & diagnostic centres.
Component-wise, the key categories are hardware, services, and software.
Significant technologies discussed in the research report are querying method, natural language processing, machine learning, and others.
Healthcare Artificial Intelligence Market Regional Insight
The Americas is home to the biggest healthcare artificial intelligence market and this share will continue to burgeon rapidly in the coming years. The American market’s strong growth over the upcoming years will be the result of the thriving biotechnology sector and the escalating use of surgical robots. The region is also witnessing growth in the elderly population affected by a series of chronic disorders, augmenting the demand for AI-supported devices and more in the healthcare sector.
Asia Pacific, capturing a growth rate of 52.4 percent, will be the fastest gainer in the future. Frequent technological advances coupled with the rapidly soaring healthcare sector raise the awareness level as well as the use of AI, especially in India, China, and Japan. Other encouraging factors could be the heightened requirement for coordination and communication between the patients and the healthcare workforce along with the surging use of precision medicine. The heightened burden of several diseases, and the tremendous growth of the capital investments considerably add to the healthcare artificial intelligence market value. On top of this, the significant deployment of big data in healthcare, rise in technological advancements, and China emerging as a popular market will further the healthcare AI industry in the region over the coming years.
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Healthcare Artificial Intelligence Market Top Key Players
CloudMedx Inc, General Vision, NVIDIA Corporation, Stryker, Koninklijke Philips N.V, GENERAL ELECTRIC, DEEP GENOMICS, Google, Microsoft Corporation, IBM Watson Health, Next IT Corp, Intel Corporation are the eminent healthcare AI developers listed in the report.
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