Artificial Intelligence in Healthcare Market Research Report: Information By Component (Hardware, Software, Services), Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Dosage Error Reduction, Clinical Trial, Preliminary Diagnosis, Automated Image Diagnosis), Technology (Machine Learning, Querying Method, Natural Language Processing), End User (Hospital & Diagnostic Centers, Pharmaceutical & Biotechnology Companies Academic & Research Laboratories) – Global Forecast till 2030
The Artificial Intelligence in Healthcare Market is expected to reach USD 12.22 Billion by 2030 at of 51.9% CAGR during the forecast period 2022-2030. the market worth is presumed to be around, which indicates promising growth prospects. Artificial intelligence and robotics use in diagnosing and treating pharmacological disorders is predicted to drive the growth of artificial intelligence (AI) in the healthcare market. According to estimates, the market is worth, which points to bright development possibilities. It is anticipated that the application of artificial intelligence (AI) and robotics in the diagnosis and treatment of pharmaceutical illnesses would propel the expansion of AI in the healthcare industry. The usage of virtual assistants can aid in enhancing patient care and tracking patient health by changing the way that care is delivered. To make utilising AI to connect patients easier, Nuance unveiled a new virtual assistant platform in January 2021. The new platform provides care solutions and attends to the demands of patients and healthcare professionals. However, it is projected that the growth of the healthcare artificial intelligence (AI) industry would be hampered by escalating difficulties, high prices, and data breaches.
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The market’s growth will probably be fueled by rising expenditures made in artificial intelligence (AI) in healthcare by pharmaceutical and MedTech firms to improve their businesses. According to research from PwC, artificial intelligence (AI) is effective, rapid, and executes operational tasks for a significantly lower cost. The Al aids doctors in the early identification and diagnosis of any ailment. Most healthcare providers in the sector have increased their investments as a result of this. Microsoft Corporation bought Nuance Communications, Inc. in April 2021. Through this purchase, the business was able to leverage Nuance Communications’ cutting-edge cloud and Al capabilities as well as their knowledge of the healthcare sector.
Artificial Intelligence in Healthcare Market Segmentation
Hardware, software, and services are the three categories into which the worldwide healthcare artificial intelligence (AI) market has been divided based on offering. In 2021, the software sector had a sizable proportion. This expansion was aided by the rise in the use of artificial intelligence-powered software solutions by healthcare organisations, staff members, and patients. However, due to the increasing use of AI-based technologies in a variety of healthcare applications, including cybersecurity, clinical trials, virtual assistants, robot-assisted operations, telemedicine, dose error reduction, and fraud detection, the hardware sector is developing at the quickest rate.
The machine learning, natural language processing, context-aware computing, and computer vision technology segments of the worldwide healthcare artificial intelligence (AI) market are all based on technology.
The global Healthcare Artificial Intelligence (AI) Market is divided into the following application categories: patient data & risk analysis, inpatient care & hospital management, medical imaging & diagnostics, lifestyle management & monitoring, virtual assistants, drug discovery, research, healthcare assistant robots, precision medicine, emergency room & surgery, wearables, mental health, and cyber security.
The worldwide Healthcare Artificial Intelligence (AI) Market has been divided into patients, pharmaceutical & biotechnology firms, healthcare payers, hospitals & healthcare providers, and others based on end-user.
Artificial Intelligence in Healthcare Market Regional Analysis
North America, Europe, Asia-Pacific, and the Rest of the World are the regions into which the worldwide Healthcare Artificial Intelligence (AI) Market has been segmented. The largest share of the market was in North America. The region with the greatest anticipated CAGR over the study period is Europe. Due to developments in healthcare IT infrastructure, the growing importance of healthcare artificial intelligence (AI), the widespread adoption of AI/ML technologies, supportive government initiatives for the future of healthcare artificial intelligence (AI), lucrative funding options, and the presence of several key market players, North America held a significant market share in 2021.
The market in North America is also developing as a result of factors such as an ageing population, changing lifestyles, an increase in the incidence of chronic diseases, rising demand for value-based care, and more awareness of the benefits of incorporating AI-based technology. In 2021, it was predicted that Europe will see the fastest growth. This growth rate is due to the expansion of IT infrastructure breakthroughs and developments as well as business initiatives that specialise in AI-based technologies. The use of artificial intelligence in the healthcare sector is being fueled by the rising investments made by private investors, venture capitalists, and non-profit organisations to improve clinical results, data analysis and security, and lower costs. The main reasons boosting the Healthcare Artificial Intelligence (AI) Market growth in this area are favourable government policies encouraging healthcare organisations and care suppliers to quickly embrace AI-based technology.
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Artificial Intelligence in Healthcare Market Key Players:
Key players include Koninklijke Philips N.V, Deep Genomics, Next IT Corp, General Vision, Google, NVIDIA Corporation, IBM Watson Health, Intel Corporation, General Electric, Stryker, Microsoft Corporation, and CloudMedx Inc.
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