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Artificial intelligence in Healthcare Global Market - Forecast To 2027

  • ID: 5204987
  • Report
  • November 2020
  • Region: Global
  • 382 Pages
  • IQ4I Research & Consultancy Pvt. Ltd
1 of 4

FEATURED COMPANIES

  • A2A Pharmaceuticals
  • CarePredict
  • Euretos
  • inveox
  • Olive
  • Sift Healthcare
  • MORE

Artificial intelligence (AI) is the collection of computer programs or algorithms or software to make machines smarter and enable them to simulate human intelligence and perform various higher-order value-based tasks like visual perception, translation between languages, decision making and speech recognition. The rapidly evolving vast and complex healthcare industry is slowly deploying AI solutions into its mainstream workflows to increase the productivity of various healthcare services efficiently without burdening the healthcare personnel, to streamline and optimize the various healthcare-associated administrative workflows, to mitigate the physician deficit and burnout issues effectively, to democratize the value-based healthcare services across the globe and to efficiently accelerate the drug discovery and development process.

As estimated, the artificial intelligence in healthcare global market is expected to reach $35,323.5 million by 2027 growing at an exponential CAGR from 2020 to 2027 due to the gradual transition from volume to value-based healthcare, the surging need to accelerate and increase the efficiency of drug discovery and clinical trial processes, advancement of precision medicines, escalation of AI as a medical device, increasing prevalence of chronic, communicable diseases and escalating geriatric population and the increasing trend of acquisitions, collaborations, investments in the AI in healthcare market.

Artificial intelligence in healthcare global market is classified based on the application, end-user and geography.

Based on the application, the market is segmented into Medical diagnosis, drug discovery, precision medicines, clinical trials, Healthcare Documentation management and others consisting of AI guided robotic surgical procedures and AI-enhanced medical device and pharmaceutical manufacturing processes. The AI-powered Healthcare documentation management solutions segment accounted for the largest revenue in 2020 and is expected to grow at an exponential CAGR from 2020 to 2027. AI-enhanced Drug Discovery solutions segment is the fastest emerging segment, growing at an exponential CAGR from 2020 to 2027.

The artificial intelligence in healthcare global end-users market is grouped into Hospitals and Diagnostic Laboratories, Pharmaceutical companies, Research institutes and other end-users consisting of health insurance companies, medical device and pharmaceutical manufacturers and patients or individuals in the home-care settings. Among these end users, Hospitals and Diagnostic Laboratories segment accounted for the largest revenue in 2020 and is expected to grow at an exponential CAGR during the forecasted period. Pharmaceutical companies segment is the fastest-growing segment, growing at an exponential CAGR from 2020 to 2027.

The artificial intelligence in healthcare global market by geography is segmented into North America, Europe, Asia-Pacific and the Rest of the world (RoW). North American region dominated the global artificial intelligence in healthcare market in 2020 and is expected to grow at an exponential CAGR from 2020 to 2027. The Asia-Pacific region is the fastest-growing region, growing at an exponential CAGR from 2020 to 2027.

The artificial intelligence in healthcare market is consolidated with the top five players occupying majority of the market share and the remaining minority share of the market being occupied by other players. The top players in artificial intelligence in healthcare global market are International Business Machines (IBM) Corporation (IBM Watson) (U.S.), General Electric Company (U.S.), Microsoft Corporation (U.S.), Alphabet Inc. (U.S.), Nuance Communications Inc. (U.S.), Intel Corporation (U.S.), Medtronic PLC (Ireland), Nvidia Corporation (U.S.), Welltok Inc. (U.S.), Koninklijke Philips N.V. (The Netherlands), Babylon Health (U.K.), Recursion Pharmaceuticals Inc. (U.S.), Zebra Medical Vision, Inc. (Israel), Insilico Medicine Inc. (Hong Kong), Sensely Inc. (U.S.), Atomwise, Inc. (U.S.), Beijing Infervision Technology Co., Ltd (China) and others.

The report provides an in-depth market analysis of the above-mentioned segments across the following regions:

  • North America
  • U.S.
  • Europe
  • U.K.
  • Asia-Pacific
  • China
  • Rest of the World (RoW)
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • A2A Pharmaceuticals
  • CarePredict
  • Euretos
  • inveox
  • Olive
  • Sift Healthcare
  • MORE

1 Executive Summary

2 Introduction
2.1 Key Takeaways
2.2 Scope of the Report
2.3 Report Description
2.4 Markets Covered
2.5 Stakeholders
2.6 Research Methodology
2.6.1 Market Size Estimation
2.6.2 Market Breakdown and Data Triangulation
2.6.3 Secondary Sources
2.6.4 Primary Sources
2.6.5 Key Data Points from Secondary Sources
2.6.6 Key Data Points from Primary Sources
2.6.7 Assumptions

3 Market Analysis
3.1 Introduction
3.2 Market Segmentation
3.3 Factors Influencing Market
3.3.1 Drivers and Opportunities
3.3.1.1 Aiabetting the Transition from Volume Based to Value Based Healthcare
3.3.1.2 Acceleration and Increasing Efficiency of Drug Discovery and Clinical Trials
3.3.1.3 Escalation of Artificial Intelligence as a Medical Device
3.3.1.4 Advancement of Precision Medicines
3.3.1.5 Acquisitions, Investments and Collaborations to Open An Array of Opportunities for the Market to Flourish
3.3.1.6 Increasing Prevalence of Chronic, Communicable Diseases and Escalating Geriatric Population
3.3.2 Restraints and Threats
3.3.2.1 Data Privacy Issues
3.3.2.2 Reliability Issues and Black Box Reasoning Challenges
3.3.2.3 Ethical Issues and Increasing Concerns Over Human Workforce Replacement
3.3.2.4 Requirement of Huge Investment for the Deployment of AI Solutions
3.3.2.5 Lack of Interoperability Between AI Vendors
3.4 Regulatory Affairs
3.4.1 International Organization for Standardization
3.4.1.1 Iso 9001: 2015 Quality Management System
3.4.1.2 Iso 13485 Medical Devices
3.4.1.3 Iso 14971: Risk Management of Medical Devices
3.4.1.4 Iec 60601-1 Medical Electrical Equipment Standard
3.4.1.5 Iec 60601-1-11 Home Care Safety
3.4.2 Astm International Standards
3.4.3 U.S.
3.4.4 Canada
3.4.5 Europe
3.4.6 Japan
3.4.7 China
3.4.8 India
3.5 Porter's Five Force Analysis
3.5.1 Threat of New Entrants
3.5.2 Threat of Substitutes
3.5.3 Bargaining Power of Suppliers
3.5.4 Bargaining Power of Buyers
3.5.5 Competitive Rivalry
3.6 Clinical Trials
3.7 Funding Scenario
3.8 Regional Analysis of AI Start-Ups
3.9 Artificial Intelligence in Healthcare FDA Approval Analysis
3.10 AI Leveraging Key Deal Analysis
3.11 AI Enhanced Healthcare Products Pipeline
3.12 Patent Trends
3.13 Market Share Analysis by Major Players
3.13.1 Artificial Intelligence in Healthcare Global Market Share Analysis
3.14 Artificial Intelligence in Healthcare Company Comparison Table by Application, Sub-Category, Product/Technology and End-User

4 Artificial Intelligence in Healthcare Global Market, by Application
4.1 Introduction
4.2 Medical Diagnosis
4.3 Drug Discovery
4.4 Clinical Trials
4.5 Precision Medicine
4.6 Healthcare Documentation Management
4.7 Other Application

5 Artificial Intelligence in Healthcare Global Market, by End-User
5.1 Introduction
5.2 Hospitals and Diagnostic Laboratories
5.3 Pharmaceutical Companies
5.4 Research Institutes
5.5 Other End-Users

6 Regional Analysis
6.1 Introduction
6.2 North America
6.2.1 U.S.
6.3 Europe
6.3.1 U.K.
6.4 Apac
6.4.1 China
6.5 Rest of World (Row)

7 Competitive Landscape
7.1 Introduction
7.2 Partnerships
7.3 Product Launch
7.4 Collaboration
7.5 Up-Gradation
7.6 Adoption
7.7 Product Approval
7.8 Acquisition
7.9 Others

8 Major Companies
8.1 Alphabet Inc. (Google Deepmind, Verily Lifesciences)
8.1.1 Overview
8.1.2 Financials
8.1.3 Product Portfolio
8.1.4 Key Developments
8.1.5 Business Strategy
8.1.6 SWOT Analysis
8.2 General Electric Company
8.2.1 Overview
8.2.2 Financials
8.2.3 Product Portfolio
8.2.4 Key Developments
8.2.5 Business Strategy
8.2.6 SWOT Analysis
8.3 Intel Corporation
8.3.1 Overview
8.3.2 Financials
8.3.3 Product Portfolio
8.3.4 Key Developments
8.3.5 Business Strategy
8.3.6 SWOT Analysis
8.4 International Business Machines Corporation (IBM Watson)
8.4.1 Overview
8.4.2 Financials
8.4.3 Product Portfolio
8.4.4 Key Developments
8.4.5 Business Strategy
8.4.6 SWOT Analysis
8.5 Koninklijke Philips N.V.
8.5.1 Overview
8.5.2 Financials
8.5.3 Product Portfolio
8.5.4 Key Developments
8.5.5 Business Strategy
8.5.6 SWOT Analysis
8.6 Medtronic Public Limited Company
8.6.1 Overview
8.6.2 Financials
8.6.3 Product Portfolio
8.6.4 Key Developments
8.6.5 Business Strategy
8.6.6 SWOT Analysis
8.7 Microsoft Corporation
8.7.1 Overview
8.7.2 Financials
8.7.3 Product Portfolio
8.7.4 Key Developments
8.7.5 Business Strategy
8.7.6 SWOT Analysis
8.8 Nuance Communications Inc.
8.8.1 Overview
8.8.2 Financials
8.8.3 Product Portfolio
8.8.4 Key Developments
8.8.5 Business Strategy
8.8.6 SWOT Analysis
8.9 Nvidia Corporation
8.9.1 Overview
8.9.2 Financials
8.9.3 Product Portfolio
8.9.4 Key Developments
8.9.5 Business Strategy
8.9.6 SWOT Analysis
8.10 Welltok Inc.
8.10.1 Overview
8.10.2 Financials
8.10.3 Product Portfolio
8.10.4 Key Developments
8.10.5 Business Strategy
8.10.6 SWOT Analysis

List of Tables
Table 1 Artificial Intelligence in Healthcare Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 2 Healthcare AI Start-Ups, by Application
Table 3 Fda Approvals (2019-2020)
Table 4 AI Enhanced Healthcare Products Pipeline
Table 5 Artificial Intelligence in Healthcare Global Market Revenue, by Application, (2019-2027) ($Mn)
Table 6 Medical Diagnosis Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 7 Drug Discovery Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 8 Clinical Trials Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 9 Precision Medicine Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 10 Healthcare Documentation Management Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 11 Other Applications Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 12 Artificial Intelligence in Healthcare Global Market Revenue, by End-User, (2019-2027) ($Mn)
Table 13 Hospitals and Diagnostic Laboratories Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 14 Pharmaceutical Companies Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 15 Research Institutes Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 16 Other End-Users Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 17 Artificial Intelligence in Healthcare Global Market Revenue, by Region, (2019-2027) ($Mn)
Table 18 North America Artificial Intelligence in Healthcare Market Revenue, by Application, (2019-2027) ($Mn)
Table 19 North America Artificial Intelligence in Healthcare Market Revenue, by End-User, (2019-2027) ($Mn)
Table 20 Europe Artificial Intelligence in Healthcare Market Revenue, by Application, (2019-2027) ($Mn)
Table 21 Europe Artificial Intelligence in Healthcare Market Revenue, by End-User, (2019-2027) ($Mn)
Table 22 APAC Artificial Intelligence in Healthcare Market Revenue, by Application, (2019-2027) ($Mn)
Table 23 APAC Artificial Intelligence in Healthcare Market Revenue, by End-User, (2019-2027) ($Mn)
Table 24 ROW Artificial Intelligence in Healthcare Market Revenue, by Application, (2019-2027) ($Mn)
Table 25 ROW Artificial Intelligence in Healthcare Market Revenue, by End-User, (2019-2027) ($Mn)
Table 26 Partnerships (2019-2020)
Table 27 Product Launch (2019-2020)
Table 28 Collaboration (2019-2020)
Table 29 Up-Gradation (2019-2020)
Table 30 Adoption (2019-2020)
Table 31 Product Approval (2019-2020)
Table 32 Acquisition (2019-2020)
Table 33 Others (2019-2020)
Table 34 Alphabet Inc.: Total Revenue and R&D Expenses (2018-2020) ($Mn)
Table 35 Alphabet Inc.: Total Revenue, by Segments (2018-2020) ($Mn)
Table 36 Alphabet Inc.: Google Segment Revenue, (2018-2020) ($Mn)
Table 37 Alphabet Inc.: Total Revenue, by Geography (2018-2020) ($Mn)
Table 38 General Electric: Total Revenue and R&D Expenses, (2018-2020) ($Mn)
Table 39 General Electric: Total Revenue, by Product Segments, (2018-2020) ($Mn)
Table 40 General Electric: Industrial Segment Revenue (2018-2020) ($Mn)
Table 41 General Electric: Healthcare Segment Revenue, (2018-2020) ($Mn)
Table 42 General Electric: Total Revenue, by Geography, (2018-2020) ($Mn)
Table 43 Intel Corporation: Total Sales and R&D Expenses, (2018-2020) ($Mn)
Table 44 Intel Corporation: Total Sales, by Segments, (2018-2020) ($Mn)
Table 45 Intel Corporation: Internet of Things Segment Revenue, (2018-2020) ($Mn)
Table 46 Intel Corporation: Total Sales, by Geography, (2018-2020) ($Mn)
Table 47 International Business Machines Corp.: Total Revenue and R&D Expenses, (2018-2020) ($Mn)
Table 48 International Business Machines Corp.: Total Revenue, by Segments, (2018-2020) ($Mn)
Table 49 International Business Machines Corp.: Cloud & Cognitive Software Segment Revenue (2018-2020) ($Mn)
Table 50 International Business Machines Corp.: Total Revenue, by Geography, (2018-2020) ($Mn)
Table 51 Philips : Total Revenue and R&D Expenses, (2018-2020) ($Mn)
Table 52 Philips: Total Revenue by Product Segments, (2018-2020) ($Mn)
Table 53 Philips: Total Revenue by Geography, (2018-2020) ($Mn)
Table 54 Medtronic plc.: Total Sales and R&D Expenses, (2018-2020) ($Mn)
Table 55 Medtronic plc.: Total Sales, by Segments, (2018 -2020) ($Mn)
Table 56 Medtronic plc.: Minimally Invasive Therapies Group Segment Revenue, (2018 -2020) ($Mn)
Table 57 Medtronic plc.: Restorative Therapies Group, Revenue (2018 -2020) ($Mn)
Table 58 Medtronic plc.: Total Sales, by Geography, (2018 - 2020) ($Mn)
Table 59 Microsoft Corporation: Total Revenue and R&D Expenses (2019-2021) ($Mn)
Table 60 Microsoft Corporation: Total Revenue, by Segment, (2019-2021) ($Mn)
Table 61 Microsoft Corporation: Product and Service Offerings Sub-Segment Revenue (2019 -2021) ($Mn)
Table 62 Microsoft Corporation: Total Revenue, by Geography, (2019 -2021) ($Mn)
Table 63 Nuance Communications Inc.: Total Revenue and R&D Expenses, (2018 -2020) ($Mn)
Table 64 Nuance Communications Inc.: Total Revenue, by Segments (2018-2020) ($Mn)
Table 65 Nuance: Total Revenue, by Geography, (2018-2020) ($Mn)
Table 66 Nvidia Corporation: Total Revenue and R&D Expenses, (2018-2020) ($Mn)
Table 67 Nvidia Corporation: Total Revenue, by Specialized Market Segments, (2018-2020) ($Mn)
Table 68 Nvidia Corporation: Total Revenue, by Geography, (2018-2020) ($Mn)

List of Figures
Figure 1 Artificial Intelligence in Healthcare Global Market Revenue, by Region (2019-2027) ($Mn)
Figure 2 Research Methodology: Artificial Intelligence in Healthcare Global Market
Figure 3 Artificial Intelligence in Healthcare Global Market: Top-Down and Bottom-Up Approach
Figure 4 Artificial Intelligence in Healthcare Global Market: Forecasting Model
Figure 5 Artificial Intelligence in Healthcare Global Market: Market Breakdown and Data Triangulation
Figure 6 Artificial Intelligence in Healthcare Global Market Segmentation
Figure 7 Market Dynamics
Figure 8 Artificial Intelligence in Healthcare Global Market: Porter's Analysis
Figure 9 Clinical Trials (2018 - 2020)
Figure 10 Funding Scenario, (2019 - 2020)
Figure 11 Regional Analysis of AI Start-Ups, (2010 - 2020)
Figure 12 Key Deal Analysis, (2019 - 2020)
Figure 13 Patent Trends (2016 - 2020)
Figure 14 Artificial Intelligence in Healthcare Global Market Share Analysis, by Key Players, 2020 (%)
Figure 15 Artificial Intelligence in Healthcare Global Market Share, by Application (2020 V/S 2027) (%)
Figure 16 Drug Discovery Global Market Share, by Region (2020 V/S 2027) (%)
Figure 17 Clinical Trials Global Market Share, by Region (2020 V/S 2027) (%)
Figure 18 Artificial Intelligence in Healthcare Global Market Share, by End-User (2020 V/S 2027) (%)
Figure 19 Artificial Intelligence in Healthcare Global Market Revenue, by Region (2019-2027) ($Mn), CAGR (%)
Figure 20 North America Artificial Intelligence in Healthcare Market Share, by Application (2020) (%), CAGR (%)
Figure 21 North America Artificial Intelligence in Healthcare Market Share, by End-User (2020 V/S 2027) (%)
Figure 22 Europe Artificial Intelligence in Healthcare Market Share, by Application (2020) (%), CAGR (%)
Figure 23 Europe Artificial Intelligence in Healthcare Market Share, by End-User (2020 V/S 2027) (%)
Figure 24 APAC Artificial Intelligence in Healthcare Market Share, by Application (2020) (%), CAGR (%)
Figure 25 APAC Artificial Intelligence in Healthcare Market Share, by End-User (2020 V/S 2027) (%)
Figure 26 ROW Artificial Intelligence in Healthcare Market Share, by Application (2020) (%), CAGR (%)
Figure 27 ROW Artificial Intelligence in Healthcare Market Share, by End-User (2020 V/S 2027) (%)
Figure 28 Key Growth Strategies, (2019-2020)
Figure 29 SWOT: Alphabet Inc.
Figure 30 SWOT: General Electric
Figure 31 SWOT: Intel Corporation
Figure 32 SWOT: International Business Machines Corp.
Figure 33 SWOT: Philips
Figure 34 SWOT: Medtronic plc.
Figure 35 SWOT: Microsoft Corporation
Figure 36 SWOT: Nuance Communications Inc.
Figure 37 SWOT: Nvidia Corporation.
Figure 38 SWOT: Welltok Inc.

Note: Product cover images may vary from those shown
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