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Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-aware Computing, Computer Vision), Application, End User and Geography - Global Forecast to 2027

  • ID: 5116503
  • Report
  • October 2021
  • Region: Global
  • 253 Pages
  • Markets and Markets

The artificial intelligence in healthcare market is projected to grow from USD 6.9 billion in 2021 to USD 67.4 billion by 2027; it is expected to grow at a CAGR of 46.2% from 2021 to 2027.




Many companies are developing software solutions for various healthcare applications; this is the key factor complementing the growth of the software segment. Strong demand among software developers (especially in medical centers and universities) and widening applications of AI in the healthcare sector are among the prime factors complementing the growth of the AI platform within the software segment. Google AI Platform, TensorFlow, Microsoft Azure, Premonition, Watson Studio, Lumiata, and Infrrd are some of the top AI platforms.


The market for machine learning segment is expected to grow at the highest CAGR during the forecast period


The increasing adoption of machine learning technology (especially deep learning) in various healthcare applications such as inpatient monitoring & hospital management, drug discovery, medical imaging & diagnostics, and cybersecurity is driving the adoption of machine learning technology in the AI in healthcare market.


The medical imaging & diagnostics segment is expected to grow at the highest CAGR of artificial intelligence in the healthcare market during the forecast period.


The high growth of the medical imaging and diagnostics segment can be attributed to factors such as the presence of a large volume of imaging data, advantages offered by AI systems to radiologists in diagnosis and treatment management, and the influx of a large number of startups in this segment.


North America region is expected to hold the largest share of artificial intelligence in the healthcare market during the forecast period.


Increasing adoption of AI technology across the continuum of care, especially in the US, and high healthcare spending combined with the onset of COVID-19 pandemic accelerating the adoption of AI in hospital and clinics across the region are the major factors driving the growth of the North American market.


Break-up of the profiles of primary participants:

  • By Company Type - Tier 1 - 40%, Tier 2 - 25%, and Tier 3 - 35%
  • By Designation - C-level - 40%, Director-level - 35%, and, Other - 25%
  • By Region - North America - 30%, Europe - 20%, APAC - 45%, and RoW - 5%

The key players operating in the artificial intelligence in healthcare market include Intel (US), Koninklijke Philips (Netherlands), Microsoft (US), IBM (US), and Siemens Healthineers (US)


The artificial intelligence in the healthcare market has been segmented into the offering, technology, application, end user, and region.


Based on offering the market has been segmented into hardware, software, and services. Based on technology the market has been segmented machine learning, natural language processing, context-aware computing, and computer vision. Based on application the market has been segmented into patient data & risk analysis, inpatient care & hospital management, medical imaging & diagnostics, lifestyle management & monitoring, virtual assistants, drug discovery, research, healthcare assistance robots, precision medicine, emergency room & surgery, wearables, mental health, and cybersecurity. Based on end user, the market has been segmented into hospitals & healthcare providers, patients, pharmaceutical & biotechnology companies, healthcare payers, and others. The artificial intelligence in the healthcare market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).


Reasons to buy the report:

  • Illustrative segmentation, analysis, and forecast of the market based on offering, technology, application, end user, and region have been conducted to give an overall view of the artificial intelligence in the healthcare market.
  • A value chain analysis has been performed to provide in-depth insights into the artificial intelligence in healthcare market.
  • The key drivers, restraints, opportunities, and challenges pertaining to the artificial intelligence in the healthcare market have been detailed in this report.
  • Detailed information regarding the COVID-19 impact on the artificial intelligence in the healthcare market has been provided in the report.
  • The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues
Frequently Asked Questions about the Artificial Intelligence in Healthcare Market

What is the estimated value of the Artificial Intelligence in Healthcare Market?

The Artificial Intelligence in Healthcare Market was estimated to be valued at $6.9 Billion in 2021.

What is the growth rate of the Artificial Intelligence in Healthcare Market?

The growth rate of the Artificial Intelligence in Healthcare Market is 46.2%, with an estimated value of $67.4 Billion by 2027.

What is the forecasted size of the Artificial Intelligence in Healthcare Market?

The Artificial Intelligence in Healthcare Market is estimated to be worth $67.4 Billion by 2027.

Who are the key companies in the Artificial Intelligence in Healthcare Market?

Key companies in the Artificial Intelligence in Healthcare Market include Amazon Web Services (Aws), Anju Life Sciences Software, Atomwise, Babylon, Biobeats, Butterfly Networks, Caption Health, Careskore and Catalia Health.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency
1.5 Volume Unit Considered
1.6 Limitations
1.7 Stakeholders
1.8 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 1 Artificial Intelligence in Healthcare Market: Research Design
2.1.1 Secondary and Primary Research
2.1.2 Secondary Data
2.1.2.1 List of Major Secondary Sources
2.1.2.2 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Interviews with Experts
2.1.3.2 Key Industry Insights
2.1.3.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Estimating Market Size by Bottom-Up Approach (Demand Side)
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Approach 2 Bottom-Up (Supply Side)-Illustration of Revenue Estimation of Companies from Sales of AI in Healthcare Offering
Figure 4 Market Size Estimation Methodology: Approach 3-Bottom-Up (Demand Side) Estimation of Size of AI in Healthcare Market, by End-user
2.2.2 Top-Down Approach
2.2.2.1 Estimating Market Size by Top-Down Approach (Supply Side)
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Size Estimation Methodology: Approach 1 (Supply Side)-Revenue Generated from AI in Healthcare Offerings
2.3 Market Breakdown and Data Triangulation
Figure 7 Data Triangulation
2.4 Research Assumptions
Figure 8 Assumptions for Research Study
2.5 Risk Assessment
Table 1 Limitations and Associated Risks
2.6 Limitations
3 Executive Summary
3.1 Growth Rate Assumptions/Growth Forecast
Table 2 Global AI in Healthcare Market, 2018-2020 (USD Million)
Table 3 Global AI in Healthcare Market, 2021-2027 (USD Million)
Figure 9 Effect of COVID-19 on AI in Healthcare Market
3.2 Post-COVID-19 Scenario
Table 4 Post-COVID-19 Scenario: AI in Healthcare Market, 2021-2027 (USD Million)
3.3 Optimistic Scenario (Post-COVID-19)
Table 5 Optimistic Scenario (Post-COVID-19): AI in Healthcare Market, 2021-2027 (USD Million)
3.4 Pessimistic Scenario (Post-COVID-19)
Table 6 Pessimistic Scenario (Post-COVID-19): AI in Healthcare Market, 2021-2027 (USD Billion)
Figure 10 Software Segment to Lead AI in Healthcare Market, in Terms of Size, from 2018 to 2027
Figure 11 North America to Hold Largest Share of AI in Healthcare Market in 2021
4 Premium Insights
4.1 Attractive Growth Opportunities in AI in Healthcare Market
Figure 12 Availability of Big Data in Healthcare and Increasing Adoption of AI-Based Tools in Healthcare Facilities Are Major Factors Driving Market Growth During 2021-2027
4.2 AI in Healthcare Market, by Technology
Figure 13 Machine Learning Technology to Account for Largest Size of AI in Healthcare Market from 2021 to 2027
4.3 AI in Healthcare Market, by Technology and Region
Figure 14 Machine Learning Technology and North America to be Largest Shareholders of AI in Healthcare Market in In 2021
4.4 AI in Healthcare Market, by Country
Figure 15 AI in Healthcare Market in China and Mexico to Grow at Highest CAGR from 2021 to 2027
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 16 AI in Healthcare Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Influx of Large and Complex Healthcare Datasets
5.2.1.2 Growing Need to Reduce Healthcare Costs
5.2.1.3 Improving Computing Power and Declining Hardware Cost
5.2.1.4 Rising Number of Partnerships and Collaborations Among Different Domains in Healthcare Sector
5.2.1.5 Surging Need for Improvised Healthcare Services Due to Imbalance Between Health Workforce and Patients
5.2.2 Restraints
5.2.2.1 Reluctance Among Medical Practitioners to Adopt AI-Based Technologies
5.2.2.2 Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software 58
5.2.3 Opportunities
5.2.3.1 Growing Potential of AI-Based Tools for Elderly Care
5.2.3.2 Increasing Focus on Developing Human-Aware AI Systems
5.2.3.3 Rising Potential of AI Technology in Genomics, Drug Discovery, and Imaging & Diagnostics to Fight COVID-19
5.2.4 Challenges
5.2.4.1 Lack of Curated Healthcare Data
5.2.4.2 Concerns Regarding Data Privacy
Figure 17 Types of Healthcare Breaches Reported to US Department of Health and Human Services (2019 to 2021)
5.2.4.3 Lack of Interoperability Between AI Solutions Offered by Different Vendors
5.3 Value Chain Analysis
Figure 18 AI in Healthcare Market Value Chain in 2020
5.4 Porter's Five Forces Analysis
Table 7 AI in Healthcare Market: Porter's Five Forces Analysis
5.5 Ecosystem Analysis
Table 8 Ecosystem: AI in Healthcare Market
5.6 Revenue Shift and New Revenue Pockets for AI in Healthcare Market
Figure 19 Yc-Ycc Shift: AI in Healthcare Market
5.7 Case Study Analysis
5.7.1 Use Case - Biobeat (Israel)
5.7.2 Use Case - Cleveland Clinic and Microsoft
5.7.3 Use Case - Government of India, Microsoft, and Accenture
5.8 Technology Analysis
5.8.1 Cloud Computing
5.8.2 Cloud Gpu
5.9 Pricing Analysis
Figure 20 Asp of Processor Components, AI in Healthcare Market, 2018-2027 (USD)
Table 9 Asp Range of Processor Components in AI in Healthcare Market, 2018-2027
Table 10 Asp Range of Server Software in AI in Healthcare Market
5.10 Trade Analysis
Table 11 Exports Data, by Country, 2016-2020
Figure 21 Exports Data for Hs Code 854231 for Top Countries in AI in Healthcare Market, 2016-2020 (Thousand Units)
Table 12 Imports Data, by Country, 2016-2020
Figure 22 Imports Data for Hs Code 854231 for Top Countries in AI in Healthcare Market, 2016-2020 (Thousand Units)
5.11 Patent Analysis
Figure 23 Patent Analysis: AI in Healthcare Market
Table 13 List of Patents
5.12 Regulatory Landscape
Table 14 Tariff for Electronic Integrated Circuits as Processors and Controllers Are Exported by US, 2020
Table 15 Tariff for Electronic Integrated Circuits as Processors and Controllers Are Exported by China, 2020
Table 16 Tariff for Electronic Integrated Circuits as Processors and Controllers Exported by Germany, 2020
5.12.1 Regulations
5.12.1.1 Export-Import Regulations
5.12.2 Restriction of Hazardous Substances (Rohs) and Waste Electrical and Electronic Equipment (Weee)
5.12.3 Registration, Evaluation, Authorization, and Restriction of Chemicals (Reach)
5.12.4 General Data Protection Regulation (GDPr)
6 Artificial Intelligence in Healthcare Market, by Offering
6.1 Introduction
Figure 24 AI in Healthcare Market, by Offering
Figure 25 Software to Hold Largest Size of AI in Healthcare Market During Forecast Period
Table 17 AI in Healthcare Market, by Offering, 2018-2020 (USD Million)
Table 18 AI in Healthcare Market, by Offering, 2021-2027 (USD Million)
6.2 Hardware
6.2.1 Processors, Memory Devices, and Network Systems Are Inalienable Hardware Components of AI in Healthcare Ecosystem
Table 19 AI in Healthcare Market, by Hardware, 2018-2020 (USD Million)
Table 20 AI in Healthcare Market, by Hardware, 2021-2027 (USD Million)
Table 21 AI in Healthcare Market for Hardware, by Region, 2018-2020 (USD Million)
Table 22 AI in Healthcare Market for Hardware, by Region, 2021-2027 (USD Million)
6.2.2 Processor
6.2.2.1 Intel (Us), Nvidia (Us), and Xilinx (Us) Are Key Providers of Hardware Components for AI Applications
Table 23 AI in Healthcare Market, by Processor Type, 2018-2020 (Million Units)
Table 24 AI in Healthcare Market, by Processor Type, 2021-2027 (Million Units)
Table 25 AI in Healthcare Market, by Processor Type, 2018-2020 (USD Million)
Table 26 AI in Healthcare Market, by Processor Type, 2021-2027 (USD Million)
6.2.2.2 Mpu/Cpu
6.2.2.2.1 Use Case: Dynalife and Altaml Colon Polyp Project
6.2.2.3 Gpu
6.2.2.3.1 Use Case: University of Sydney, Brain and Mind Center (Snac) and Nvidia
6.2.2.4 Fpga
6.2.2.4.1 Use Case: Xilinx and Spline. AI
6.2.2.5 Asic
6.2.2.5.1 Neureality: Nr1-P Soc's
6.2.3 Memory
6.2.3.1 High-Bandwidth Memory is Being Developed and Deployed for AI Applications, Independent of Its Computing Architecture
6.2.3.2 Case Study: Intel, Dell, and University of Florida
6.2.4 Network
6.2.4.1 Nvidia (Us) and Intel (Us) Are Key Providers of Network Interconnect Adapters for AI Applications
6.2.4.2 Recent Development:
Table 27 AI in Healthcare Market, by Network, 2018-2020 (Million Units)
Table 28 AI in Healthcare Market, by Network, 2021-2027 (Million Units)
Table 29 AI in Healthcare Market, by Network, 2018-2020 (USD Million)
Table 30 AI in Healthcare Market, by Network, 2021-2027 (USD Million)
6.3 Software
6.3.1 Software Segment Holds Largest Share in AI in Healthcare Market
Table 31 AI in Healthcare Market, by Software Type, 2018-2020 (USD Million)
Table 32 AI in Healthcare Market, by Software Type, 2021-2027 (USD Million)
Table 33 AI in Healthcare Market for Software, by Region, 2018-2020 (USD Million)
Table 34 AI in Healthcare Market for Software, by Region, 2021-2027 (USD Million)
6.3.2 AI Solution
6.3.2.1 Case Study: Va Hospital (Texas) and Deepmind Health
Table 35 AI in Healthcare Market for AI Solutions, by Deployment Mode, 2018-2020 (USD Million)
Table 36 AI in Healthcare Market for AI Solutions, by Deployment Mode, 2021-2027 (USD Million)
6.3.2.2 on Premises
6.3.2.2.1 Data-Sensitive Enterprises Prefer Advanced On-Premises Nlp and Ml Tools for Use in AI Solutions
6.3.2.2.2 Recent Development:
6.3.2.3 Cloud
6.3.2.3.1 Cloud Provides Additional Flexibility for Business Operations and Real-Time Deployment Ease to Companies That Are Implementing Real-Time Analytics
6.3.2.3.2 Case Study: Google and Portal Telemedicina
6.3.3 AI Platform
Table 37 AI in Healthcare Market for Software, by AI Platform, 2018-2020 (USD Million)
Table 38 AI in Healthcare Market for Software, by AI Platform, 2021-2027 (USD Million)
6.3.3.1 Machine Learning Framework
6.3.3.2 Application Program Interface
6.3.3.2.1 Case Study: Aws and Caremonitor
6.4 Services
6.4.1 Big Technology Companies Such as Microsoft (Us), and Google (Us) Are Providing Cloud Services for AI in Healthcare Applications
Table 39 AI in Healthcare Market, by Service Type, 2018-2020 (USD Million)
Table 40 AI in Healthcare Market, by Service Type, 2021-2027 (USD Million)
Table 41 AI in Healthcare Market for Services, by Region, 2018-2020 (USD Million)
Table 42 AI in Healthcare Market for Services, by Region, 2021-2027 (USD Million)
6.4.2 Deployment & Integration
6.4.3 Support & Maintenance
7 Artificial Intelligence in Healthcare Market, by Technology
7.1 Introduction
Figure 26 AI in Healthcare Market, by Technology
Figure 27 Machine Learning Technology to Hold Largest Size of AI in Healthcare Market During Forecast Period
Table 43 AI in Healthcare Market, by Technology, 2018-2020 (USD Million)
Table 44 AI in Healthcare Market, by Technology, 2021-2027 (USD Million)
7.2 Machine Learning
7.2.1 Case Study: Mayo Clinic and Google
Table 45 AI in Healthcare Market for Machine Learning, by Type, 2018-2020 (USD Million)
Table 46 AI in Healthcare Market for Machine Learning, by Type, 2021-2027 (USD Million)
7.2.2 Deep Learning
7.2.2.1 Deep Learning Enables Machines to Build Hierarchical Representations
7.2.2.2 Case Study: Johns Hopkins University and Google
7.2.3 Supervised Learning
7.2.3.1 Classification and Regression Are Major Segments of Supervised Learning
7.2.4 Reinforcement Learning
7.2.4.1 Reinforcement Learning Allows Systems and Software to Determine Ideal Behavior for Maximizing Performance of Systems
7.2.5 Unsupervised Learning
7.2.5.1 Unsupervised Learning Includes Clustering Methods Consisting of Algorithms with Unlabeled Training Data
7.2.6 Others
7.3 Natural Language Processing
7.3.1 Nlp is Widely Used by Clinical and Research Communities in Healthcare
7.3.2 Case Study: Roche and John Snow Labs
7.3.3 Case Study: Deep 6 AI and John Snow Labs
Table 47 AI in Healthcare Market for Natural Language Processing, by Type, 2018-2020 (USD Million)
Table 48 AI in Healthcare Market for Natural Language Processing, by Type, 2021-2027 (USD Million)
7.4 Context-Aware Computing
7.4.1 Development of More Sophisticated Hard and Soft Sensors Has Accelerated Growth of Context-Aware Computing
7.4.2 Recent Development: Pegasystems
Table 49 AI in Healthcare Market for Context-Aware Computing, by Type, 2018-2020 (USD Million)
Table 50 AI in Healthcare Market for Context-Aware Computing, by Type, 2021-2027 (USD Million)
7.5 Computer Vision
7.5.1 Computer Vision Technology Has Significant Applications in Surgery and Therapy
7.5.2 Recent Development: Northwestern Memorial Hospital and Nvidia
8 Artificial Intelligence in Healthcare Market, by Application
8.1 Introduction
Figure 28 AI in Healthcare Market, by Application
Figure 29 Medical Imaging & Diagnostics to Account for Largest Size of AI in Healthcare Market in 2027
Table 51 AI in Healthcare Market, by Application, 2018-2020 (USD Million)
Table 52 AI in Healthcare Market, by Application, 2021-2027 (USD Million)
8.2 Patient Data & Risk Analysis
8.2.1 Growth in Healthcare Datasets and Patients’ Histories Has Led to Adoption of Patient Data & Risk Analysis Solutions
8.2.2 Use Case: University of Nottingham
8.2.3 Use Case: Cleveland Clinic and Microsoft
Table 53 AI in Healthcare Market for Patient Data and Risk Analysis, by Region, 2018-2020 (USD Million)
Table 54 AI in Healthcare Market for Patient Data and Risk Analysis, by Region, 2021-2027 (USD Million)
Table 55 AI in Healthcare Market for Patient Data and Risk Analysis, by End-user, 2018-2020 (USD Million)
Table 56 AI in Healthcare Market for Patient Data and Risk Analysis, by End-user, 2021-2027 (USD Million)
8.3 Inpatient Care & Hospital Management
8.3.1 Excessive Operational Costs to Generate Demand for AI-Based Inpatient Care and Hospital Management Solutions
8.3.2 Use Case: Qure.AI and Royal Bolton Hospital
Table 57 AI in Healthcare Market for Inpatient Care & Hospital Management, by Region, 2018-2020 (USD Million)
Table 58 AI in Healthcare Market for Inpatient Care & Hospital Management, by Region, 2021-2027 (USD Million)
Table 59 AI in Healthcare Market for Inpatient Care and Hospital Management, by End-user, 2018-2020 (USD Million)
Table 60 AI in Healthcare Market for Inpatient Care and Hospital Management, by End-user, 2021-2027 (USD Million)
8.4 Medical Imaging & Diagnostics
8.4.1 Leveraging Capabilities of High-End Gpu in Generating Highly Accurate Imaging Data Has Led to Growth of AI-Based Medical Imaging & Diagnostics Solutions
8.4.2 Use Case: Ultronics, Zebra Medical Vision, Ai2, and Fujifilm Sonosite
Table 61 AI in Healthcare Market for Medical Imaging and Diagnostics, by Region, 2018-2020 (USD Million)
Table 62 AI in Healthcare Market for Medical Imaging and Diagnostics, by Region, 2021-2027 (USD Million)
Table 63 AI in Healthcare Market for Medical Imaging and Diagnostics, by End-user, 2018-2020 (USD Million)
Table 64 AI in Healthcare Market for Medical Imaging and Diagnostics, by End-user, 2021-2027 (USD Million)
8.5 Lifestyle Management & Remote Patient Monitoring
8.5.1 Growth in AI-Driven Remote Patient Monitoring Solutions Such as Medical Wearables Has Helped Doctors Reduce Burden on Hospitals During COVID-19 Pandemic
8.5.2 Recent Developments:
Table 65 AI in Healthcare Market for Lifestyle Management & Monitoring, by Region, 2018-2020 (USD Million)
Table 66 AI in Healthcare Market for Lifestyle Management & Monitoring, by Region, 2021-2027 (USD Million)
Table 67 AI in Healthcare Market for Lifestyle Management & Monitoring, by End-user, 2018-2020 (USD Million)
Table 68 AI in Healthcare Market for Lifestyle Management & Monitoring, by End-user, 2021-2027 (USD Million)
8.6 Virtual Assistants
8.6.1 Increasing Need to Disseminate Precise Medical Information Among Vulnerable Populations Has Resulted in Growth of Virtual Assistants
8.6.2 Key Developments:
8.6.3 Case Study: Government of India
Table 69 AI in Healthcare Market for Virtual Assistant, by Region, 2018-2020 (USD Million)
Table 70 AI in Healthcare Market for Virtual Assistant, by Region, 2021-2027 (USD Million)
Table 71 AI in Healthcare Market for Virtual Assistant, by End-user, 2018-2020 (USD Million)
Table 72 AI in Healthcare Market for Virtual Assistant, by End-user, 2021-2027 (USD Million)
8.7 Drug Discovery
8.7.1 AI is Expected to Reduce Time and Cost Involved in Drug Discovery
8.7.2 Recent Developments:
Table 73 AI in Healthcare Market for Drug Discovery, by Region, 2018-2020 (USD Million)
Table 74 AI in Healthcare Market for Drug Discovery, by Region, 2021-2027 (USD Million)
Table 75 AI in Healthcare Market for Drug Discovery, by End-user, 2018-2020 (USD Million)
Table 76 AI in Healthcare Market for Drug Discovery, by End-user, 2021-2027 (USD Million)
8.8 Research
8.8.1 Use of AI Algorithms by Bioinformatics Researchers for Database Classification and Mining Drives Adoption of AI in Research
8.8.2 Use Cases: Numedii, 4Quant, and Desktop Genetics
Table 77 AI in Healthcare Market for Research, by Region, 2018-2020 (USD Million)
Table 78 AI in Healthcare Market for Research, by Region, 2021-2027 (USD Million)
Table 79 AI in Healthcare Market for Research, by End-user, 2018-2020 (USD Million)
Table 80 AI in Healthcare Market for Research, by End-user, 2021-2027 (USD Million)
8.9 Healthcare Assistance Robots
8.9.1 Healthcare Assistant Robots Have Significantly Helped in Reducing Need for Round the Clock Manual Nursing Care
8.9.2 Use Cases: Mayo Clinic
Table 81 AI in Healthcare Market for Healthcare Assistance Robots, by Region, 2018-2020 (USD Million)
Table 82 AI in Healthcare Market for Healthcare Assistance Robots, by Region, 2021-2027 (USD Million)
Table 83 AI in Healthcare Market for Healthcare Assistance Robots, by End-user, 2018-2020 (USD Million)
Table 84 AI in Healthcare Market for Healthcare Assistance Robots, by End-user, 2021-2027 (USD Million)
8.10 Precision Medicine
8.10.1 AI is Expected to Fulfil Demand for Personalized Treatment Plans for Patients Administered with Precision Medicine
8.10.2 Recent Developments:
Table 85 AI in Healthcare Market for Precision Medicine, by Region, 2018-2020 (USD Million)
Table 86 AI in Healthcare Market for Precision Medicine, by Region, 2021-2027 (USD Million)
Table 87 AI in Healthcare Market for Precision Medicine, by End-user, 2018-2020 (USD Million)
Table 88 AI in Healthcare Market for Precision Medicine, by End-user, 2021-2027 (USD Million)
8.11 Emergency Room & Surgery
8.11.1 Limited Availability of Skilled Workforce in Emergency Rooms and Demand to Support Clinicians with Surgical Data to Drive Adoption of AI in Emergency Room and Surgery
8.11.2 Use Case: the Hospital for Sick Children (Toronto, Canada)
Table 89 AI in Healthcare Market for Emergency Room & Surgery, by Region, 2018-2020 (USD Million)
Table 90 AI in Healthcare Market for Emergency Room & Surgery, by Region, 2021-2027 (USD Million)
Table 91 AI in Healthcare Market for Emergency Room & Surgery, by End-user, 2018-2020 (USD Million)
Table 92 AI in Healthcare Market for Emergency Room & Surgery, by End-user, 2021-2027 (USD Million)
8.12 Wearables
8.12.1 Real-Time Patient Monitoring and Generation of Data of Vital Signs Diagnostics to Boost Demand for AI in Wearables
8.12.2 Use Case: Kensci and Microsoft
Table 93 AI in Healthcare Market for Wearables, by Region, 2018-2020 (USD Million)
Table 94 AI in Healthcare Market for Wearables, by Region, 2021-2027 (USD Million)
Table 95 AI in Healthcare Market for Wearables, by End-user, 2018-2020 (USD Million)
Table 96 AI in Healthcare Market for Wearables, by End-user, 2021-2027 (USD Million)
8.13 Mental Health
8.13.1 Use of AI in Diagnosing Mental Distress and Neurological Abnormalities Has Led to Growing Adoption of AI in Mental Health
8.13.2 Use Case: Cognoa
Table 97 AI in Healthcare Market for Mental Health, by Region, 2018-2020 (USD Million)
Table 98 AI in Healthcare Market for Mental Health, by Region, 2021-2027 (USD Million)
Table 99 AI in Healthcare Market for Mental Health, by End-user, 2018-2020 (USD Million)
Table 100 AI in Healthcare Market for Mental Health, by End-user, 2021-2027 (USD Million)
8.14 Cybersecurity
8.14.1 AI in Healthcare Cybersecurity is Becoming Critical for Protecting Onsite Systems
Table 101 AI in Healthcare Market for Cybersecurity, by Region, 2018-2020 (USD Million)
Table 102 AI in Healthcare Market for Cybersecurity, by Region, 2021-2027 (USD Million)
Table 103 AI in Healthcare Market for Cybersecurity, by End-user, 2018-2020 (USD Million)
Table 104 AI in Healthcare Market for Cybersecurity, by End-user, 2021-2027 (USD Million)
9 Artificial Intelligence in Healthcare Market, by End-user
9.1 Introduction
Figure 30 AI in Healthcare Market, by End-user
Figure 31 Hospitals & Healthcare Providers to Hold Largest Market Share During Forecast Period
Table 105 AI in Healthcare Market, by End-user, 2018-2020 (USD Million)
Table 106 AI in Healthcare Market, by End-user, 2021-2027 (USD Million)
9.2 Hospitals and Healthcare Providers
9.2.1 AI Can be Utilized to Predict and Prevent Readmissions and Improve Operations of Hospitals and Care Providers
9.2.2 Recent Developments:
Table 107 AI in Healthcare Market for Hospitals and Healthcare Providers, by Application, 2018-2020 (USD Million)
Table 108 AI in Healthcare Market for Hospitals and Healthcare Providers, by Application, 2021-2027 (USD Million)
Table 109 AI in Healthcare Market for Hospitals and Healthcare Providers, by Region, 2018-2020 (USD Million)
Table 110 AI in Healthcare Market for Hospitals and Healthcare Providers, by Region, 2021-2027 (USD Million)
9.3 Patients
9.3.1 Increasing Popularity of Smartphone Applications and Wearables to Drive Adoption of AI Among Patients
9.3.2 Use Case: Kensci and Microsoft
9.3.3 Use Case: Biobeat
Table 111 AI in Healthcare Market for Patients, by Application, 2018-2020 (USD Million)
Table 112 AI in Healthcare Market for Patients, by Application, 2021-2027 (USD Million)
Table 113 AI in Healthcare Market for Patients, by Region, 2018-2020 (USD Million)
Table 114 AI in Healthcare Market for Patients, by Region, 2021-2027 (USD Million)
9.4 Pharmaceuticals & Biotechnology Companies
9.4.1 Applications Such as Drug Discovery, Precision Medicine, and Research Are Expected to Drive Use of AI by Pharmaceuticals and Biotechnology Companies
9.4.2 Recent Developments:
Table 115 AI in Healthcare Market for Pharmaceuticals & Biotechnology Companies, by Application, 2018-2020 (USD Million)
Table 116 AI in Healthcare Market for Pharmaceuticals & Biotechnology Companies, by Application, 2021-2027 (USD Million)
Table 117 AI in Healthcare Market for Pharmaceuticals & Biotechnology Companies, by Region, 2018-2020 (USD Million)
Table 118 AI in Healthcare Market for Pharmaceuticals & Biotechnology Companies, by Region, 2021-2027 (USD Million)
9.5 Healthcare Payers
9.5.1 Healthcare Payers Use AI Tools Mainly for Managing Risks, Identifying Claim Trends, and Maximizing Payment Accuracy
9.5.2 Recent Developments:
Table 119 AI in Healthcare Market for Healthcare Payers, by Application, 2018-2020 (USD Million)
Table 120 AI in Healthcare Market for Healthcare Payers, by Application, 2021-2027 (USD Million)
Table 121 AI in Healthcare Market for Healthcare Payers, by Region, 2018-2020 (USD Million)
Table 122 AI in Healthcare Market for Healthcare Payers, by Region, 2021-2027 (USD Million)
9.6 Others
Table 123 AI in Healthcare Market for Others, by Application, 2018-2020 (USD Million)
Table 124 AI in Healthcare Market for Others, by Application, 2021-2027 (USD Million)
Table 125 AI in Healthcare Market for Others, by Region, 2018-2020 (USD Million)
Table 126 AI in Healthcare Market for Others, by Region, 2021-2027 (USD Million)
10 Artificial Intelligence in Healthcare Market, Geographic Analysis
10.1 Introduction
Figure 32 China and US Are Emerging as New Hotspots for AI in Healthcare Market
Figure 33 Asia-Pacific to Register Highest CAGR During Forecast Period
Table 127 AI in Healthcare Market, by Region, 2018-2020 (USD Million)
Table 128 AI in Healthcare Market, by Region, 2021-2027 (USD Million)
10.2 North America
Figure 34 North America: Snapshot of AI in Healthcare Market
Table 129 AI in Healthcare Market in North America, by Country, 2018-2020 (USD Million)
Table 130 AI in Healthcare Market in North America, by Country, 2021-2027 (USD Million)
Table 131 AI in Healthcare Market in North America, by Application, 2018-2020 (USD Million)
Table 132 AI in Healthcare Market in North America, by Application, 2021-2027 (USD Million)
10.2.1 US
10.2.1.1 High Healthcare Spending Combined with Increasing Demand for AI in Medical Sector Due to COVID-19 Pandemic to Complement Growth of AI Market in US
10.2.1.2 Recent Developments:
10.2.2 Canada
10.2.2.1 Continuous Research on Nlp and Ml Across Research Institutions and Universities in Canada to Propel AI in Healthcare Market
10.2.2.2 Recent Developments:
10.2.3 Mexico
10.2.3.1 AI-Enabled Devices for Healthcare Sector Have Been Gaining Traction in Mexico
10.2.3.2 Recent Developments:
10.3 Europe
Figure 35 Europe: Snapshot of AI in Healthcare Market
Table 133 AI in Healthcare Market in Europe, by Country, 2018-2020 (USD Million)
Table 134 AI in Healthcare Market in Europe, by Country, 2021-2027 (USD Million)
Table 135 AI in Healthcare Market in Europe, by Application, 2018-2020 (USD Million)
Table 136 AI in Healthcare Market in Europe, by Application, 2021-2027 (USD Million)
10.3.1 Germany
10.3.1.1 Government Initiatives to Expedite AI Development Supporting AI in Healthcare Market Growth in Germany
10.3.1.2 Recent Developments:
10.3.2 UK
10.3.2.1 Adoption of AI in Drug Discovery Space is Fueling Growth of AI in Healthcare Market in UK
10.3.2.2 Recent Developments:
10.3.3 France
10.3.3.1 Government Endeavors to Develop Healthcare It in France is Likely to Support AI in Healthcare Market
10.3.3.2 Recent Developments:
10.3.4 Italy
10.3.4.1 Development of Electronic Health Records and Aging Population Are Driving Market Growth in Italy
10.3.4.2 Recent Developments:
10.3.5 Spain
10.3.5.1 Growing Awareness of AI in Spain is Favoring AI in Healthcare Market Growth
10.3.5.2 Recent Developments:
10.3.6 Rest of Europe
10.4 APAC
Figure 36 APAC: Snapshot of AI in Healthcare Market
Table 137 AI in Healthcare Market in APAC, by Country, 2018-2020 (USD Million)
Table 138 AI in Healthcare Market in APAC, by Country, 2021-2027 (USD Million)
Table 139 AI in Healthcare Market in APAC, by Application, 2018-2020 (USD Million)
Table 140 AI in Healthcare Market in APAC, by Application, 2021-2027 (USD Million)
10.4.1 China
10.4.1.1 Concrete Government Measures to Accelerate AI Development Are Fueling AI in Healthcare Market Growth in China
10.4.1.2 Recent Developments:
10.4.2 Japan
10.4.2.1 AI Applications to Expedite Drug Discovery is Motivating Growth of AI in Healthcare Market in Japan
10.4.3 South Korea
10.4.3.1 Quality Healthcare Services and Rapid Expansion of Medical Insurance Coverage Are Motivating Growth of AI in Healthcare Market in South Korea
10.4.3.2 Recent Developments:
10.4.4 India
10.4.4.1 Developing It Infrastructure and AI-Friendly Government Initiatives Supporting Growth of AI in Healthcare Market in India
10.4.4.2 Recent Developments:
10.4.5 Rest of Asia-Pacific
10.4.5.1 Recent Developments:
10.5 RoW
Figure 37 Row: Snapshot of AI in Healthcare Market
Table 141 AI in Healthcare Market in RoW, by Region, 2018-2020 (USD Million)
Table 142 AI in Healthcare Market in RoW, by Region, 2021-2027 (USD Million)
Table 143 AI in Healthcare Market in RoW, by Application, 2018-2020 (USD Million)
Table 144 AI in Healthcare Market in RoW, by Application, 2021-2027 (USD Million)
10.5.1 South America
10.5.1.1 Heavy Investments in Healthcare It Are Driving Growth of Market in South America
10.5.2 Middle East and Africa
10.5.2.1 Growing Healthcare Expenditure in Middle East and North Africa is Fostering Growth of AI in Healthcare Market
10.5.2.2 Recent Developments:
11 Competitive Landscape
11.1 Key Player Strategies/Right to Win
11.2 Overview
11.3 Top 5 Company Revenue Analysis
Figure 38 3 Years Revenue Analysis of Top 5 Players in AI in Healthcare Market
11.4 Market Share Analysis (2020)
Table 145 AI in Healthcare Market: Market Share Analysis
11.5 Company Evaluation Quadrant, 2020
11.5.1 Star
11.5.2 Pervasive
11.5.3 Emerging Leader
11.5.4 Participant
Figure 39 AI in Healthcare Market (Global) Company Evaluation Quadrant, 2020
11.6 Small and Medium Enterprises (SME) Evaluation Quadrant, 2020
11.6.1 Progressive Company
11.6.2 Responsive Company
11.6.3 Dynamic Company
11.6.4 Starting Block
Figure 40 AI in Healthcare Market (Global), SME Evaluation Quadrant, 2020
Table 146 AI in Healthcare Market: Company Footprint
Table 147 Company End-user Footprint
Table 148 Company Application Footprint
Table 149 Company Region Footprint
11.7 Competitive Scenario
Table 150 AI in Healthcare Market: Product Launches and Developments, March 2019 to October 2021
Table 151 AI in Healthcare Market: Deals, March 2019-October 2021
12 Company Profiles
Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View
12.1 Key Players
12.1.1 Intel
Table 152 Intel: Business Overview
Figure 41 Intel: Company Snapshot
12.1.2 Koninklijke Philips
Table 153 Koninklijke Philips: Business Overview
Figure 42 Koninklijke Philips: Company Snapshot
12.1.3 Microsoft
Table 154 Microsoft: Business Overview
Figure 43 Microsoft: Company Snapshot
12.1.4 IBM
Table 155 IBM: Business Overview
Figure 44 IBM: Company Snapshot
12.1.5 Siemens Healthineers
Table 156 Siemens Healthineers: Business Overview
Figure 45 Siemens Healthineers: Company Snapshot
12.1.6 Nvidia
Table 157 Nvidia: Business Overview
Figure 46 Nvidia: Company Snapshot
12.1.7 Google
Table 158 Google: Business Overview
Figure 47 Google: Company Snapshot
12.1.8 General Electric (Ge) Company
Table 159 General Electric: Business Overview
Figure 48 General Electric: Company Snapshot
12.1.9 Medtronic
Table 160 Medtronic: Business Overview
Figure 49 Medtronic: Company Snapshot
12.1.10 Micron Technology
Table 161 Micron Technology: Business Overview
Figure 50 Micron Technology: Company Snapshot
12.1.11 Amazon Web Services (Aws)
Table 162 Amazon Web Services (Aws): Business Overview
Figure 51 Amazon Web Services: Company Snapshot
12.1.12 Johnson & Johnson
Table 163 Johnson & Johnson: Business Overview
Figure 52 Johnson & Johnson: Company Snapshot
Details on Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View Might Not be Captured in Case of Unlisted Companies.
12.2 Startup Ecosystem
12.2.1 General Vision
12.2.2 Cloudmedx
12.2.3 Oncora Medical
12.2.4 Enlitic
12.2.5 Lunit
12.2.6 Qure.AI
12.2.7 Precision Health AI
12.2.8 Cota
12.2.9 Fdna
12.2.10 Recursion Pharmaceuticals
12.2.11 Atomwise
12.2.12 Welltok
12.2.13 Babylon Health
12.2.14 Mdlive (Evernorth Group)
12.2.15 Gauss Surgical
12.2.16 QventUS
12.2.17 Desktop Genetics
12.2.18 Cylance
12.2.19 Ginger.Io
12.2.20 Pillo
13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

Executive Summary

Companies Mentioned

  • Amazon Web Services (Aws)
  • Anju Life Sciences Software
  • Atomwise
  • Babylon
  • Biobeats
  • Butterfly Networks
  • Caption Health
  • Careskore
  • Caresyntax
  • Catalia Health
  • Cloud Pharmaceuticals
  • Cloudmedx
  • Contextvision
  • Cota
  • Curemetrix
  • Cylance
  • Cyrcadia Health
  • Darktrace
  • Deep Genomics
  • Desktop Genetics
  • Enlitic
  • FDNA
  • Gauss Surgical
  • General Electric (Ge) Company
  • General Vision
  • Ginger.Io
  • Google
  • IBM
  • Icarbonx
  • Imagia Cybernetics
  • Intel
  • Johnson & Johnson Services
  • Koninklijke Philips
  • LexisNexis Risk Solutions
  • Linguamatics
  • Lucina Health
  • Lunit
  • Magnea
  • Maxq AI
  • MDLIVE
  • Medtronic
  • Micron Technology
  • Microsoft
  • Next It (A Verint Systems Company)
  • Nvidia
  • Oncora Medical
  • Perceive 3D
  • Physiq
  • Pillo
  • Precision Health AI
  • Qure.AI
  • Qventus
  • Recursion Pharmaceuticals
  • Securonix
  • Siemens Healthineers (A Strategic Unit of Siemens Group)
  • Vitagene
  • Welltok
  • Workfusion
  • X2Ai

Methodology

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