The report on the global AI in healthcare market provides qualitative and quantitative analysis for the period from 2021-2030. The AI in healthcare was valued at USD 14.16 billion in 2022 and is expected to reach USD 152.50 billion in 2030, with a CAGR of 29.87% during the forecast period 2023-2030. The study on AI in healthcare market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
Artificial Intelligence (AI) is used in healthcare, involving the application of advanced computational algorithms and machine learning techniques to analyze complex medical data, leading to a wide range of applications and benefits. These applications include disease diagnosis, personalized treatment, drug discovery, telemedicine, and more. AI excels in early disease detection and diagnosis, particularly in the analysis of medical images like X-rays, MRIs, and CT scans, surpassing human capabilities in accuracy and speed. Additionally, AI facilitates treatment plans tailored to individual patients, considering their medical history, genetics, and specific health data, resulting in more effective and efficient care. Moreover, AI-driven algorithms expedite drug discovery by analyzing extensive datasets, identifying potential drug candidates, and predicting their efficacy in treating specific diseases, significantly expediting the drug development process. The scope of AI in healthcare is expansive and continually evolving, holding the potential to revolutionize the entire healthcare industry. The growth of Artificial Intelligence (AI) in healthcare is driven by the growing need for advanced data analytics. AI empowers healthcare providers to swiftly and accurately process extensive volumes of patient data, ultimately resulting in enhanced patient care and superior outcomes. This data-centric approach is becoming progressively crucial in making informed healthcare decisions.
The medical imaging and diagnostics segment is anticipated to be the fastest-growing segment in the AI in healthcare market for several reasons such as enhanced accuracy and efficiency, faster diagnoses, reduced workload for radiologists, and others. AI algorithms excel in analyzing and interpreting medical images, such as X-rays, CT scans, MRIs, and ultrasounds, with exceptional precision. They can identify subtle abnormalities or patterns that may be challenging for human radiologists to detect. This heightened accuracy leads to more reliable diagnoses and improved patient care. Moreover, AI algorithms can process medical images much faster than humans, enabling quicker diagnoses. In cases of time-sensitive conditions like stroke or certain cancers, rapid diagnosis and treatment can be critical for patient outcomes. In addition, AI can assist radiologists by automating routine tasks, such as image analysis and triage. This reduces their workload, allowing them to focus on more complex cases and spend more time with patients. In April 2023, Vuno, a company specializing in medical artificial intelligence (AI) solutions, has been awarded a U.S. patent for its AI-driven technology designed for the analysis of medical images. This technology focused on streamlining the correction of lesion areas identified by medical professionals during the examination of medical images, including X-rays, Magnetic Resonance Imaging (MRI) scans, and Computerized Tomography (CT) scans within clinical settings. Such ongoing research in the field is anticipated for the growth of this segment.
North America is expected to hold the largest market share due to several factors, including its advanced healthcare infrastructure, substantial investment and funding, and strong emphasis on research and innovation, among others. North America, particularly the United States and Canada, boasts a highly developed and advanced healthcare infrastructure. This includes a large number of hospitals, medical centers, and diagnostic facilities that serve as ideal environments for the adoption of AI-enabled medical solutions. Moreover, the region has witnessed substantial investments in healthcare technology and artificial intelligence. Venture capital firms, private equity investors, and government agencies have provided significant funding to support the development and adoption of AI in healthcare, including medical imaging and diagnostics. Furthermore, North America is home to many world-renowned research institutions, universities, and technology companies. These institutions and organizations conduct cutting-edge research in the field of medical imaging, AI algorithms, and solutions to improve diagnosis and patient care. In February 2023, Ambience Healthcare introduced a completely automated AI medical scribe solution designed to tackle burnout issues within prominent provider organizations. Such advancements in North America based companies fuel the growth of the market.
1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the AI in healthcare market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global AI in healthcare market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Artificial Intelligence (AI) is used in healthcare, involving the application of advanced computational algorithms and machine learning techniques to analyze complex medical data, leading to a wide range of applications and benefits. These applications include disease diagnosis, personalized treatment, drug discovery, telemedicine, and more. AI excels in early disease detection and diagnosis, particularly in the analysis of medical images like X-rays, MRIs, and CT scans, surpassing human capabilities in accuracy and speed. Additionally, AI facilitates treatment plans tailored to individual patients, considering their medical history, genetics, and specific health data, resulting in more effective and efficient care. Moreover, AI-driven algorithms expedite drug discovery by analyzing extensive datasets, identifying potential drug candidates, and predicting their efficacy in treating specific diseases, significantly expediting the drug development process. The scope of AI in healthcare is expansive and continually evolving, holding the potential to revolutionize the entire healthcare industry. The growth of Artificial Intelligence (AI) in healthcare is driven by the growing need for advanced data analytics. AI empowers healthcare providers to swiftly and accurately process extensive volumes of patient data, ultimately resulting in enhanced patient care and superior outcomes. This data-centric approach is becoming progressively crucial in making informed healthcare decisions.
The medical imaging and diagnostics segment is anticipated to be the fastest-growing segment in the AI in healthcare market for several reasons such as enhanced accuracy and efficiency, faster diagnoses, reduced workload for radiologists, and others. AI algorithms excel in analyzing and interpreting medical images, such as X-rays, CT scans, MRIs, and ultrasounds, with exceptional precision. They can identify subtle abnormalities or patterns that may be challenging for human radiologists to detect. This heightened accuracy leads to more reliable diagnoses and improved patient care. Moreover, AI algorithms can process medical images much faster than humans, enabling quicker diagnoses. In cases of time-sensitive conditions like stroke or certain cancers, rapid diagnosis and treatment can be critical for patient outcomes. In addition, AI can assist radiologists by automating routine tasks, such as image analysis and triage. This reduces their workload, allowing them to focus on more complex cases and spend more time with patients. In April 2023, Vuno, a company specializing in medical artificial intelligence (AI) solutions, has been awarded a U.S. patent for its AI-driven technology designed for the analysis of medical images. This technology focused on streamlining the correction of lesion areas identified by medical professionals during the examination of medical images, including X-rays, Magnetic Resonance Imaging (MRI) scans, and Computerized Tomography (CT) scans within clinical settings. Such ongoing research in the field is anticipated for the growth of this segment.
North America is expected to hold the largest market share due to several factors, including its advanced healthcare infrastructure, substantial investment and funding, and strong emphasis on research and innovation, among others. North America, particularly the United States and Canada, boasts a highly developed and advanced healthcare infrastructure. This includes a large number of hospitals, medical centers, and diagnostic facilities that serve as ideal environments for the adoption of AI-enabled medical solutions. Moreover, the region has witnessed substantial investments in healthcare technology and artificial intelligence. Venture capital firms, private equity investors, and government agencies have provided significant funding to support the development and adoption of AI in healthcare, including medical imaging and diagnostics. Furthermore, North America is home to many world-renowned research institutions, universities, and technology companies. These institutions and organizations conduct cutting-edge research in the field of medical imaging, AI algorithms, and solutions to improve diagnosis and patient care. In February 2023, Ambience Healthcare introduced a completely automated AI medical scribe solution designed to tackle burnout issues within prominent provider organizations. Such advancements in North America based companies fuel the growth of the market.
Report Findings
1) Drivers
- Ai in the healthcare market is driven by growing demand for advanced data analytics.
- The rising demand for diagnostic and imaging advancements is responsible for the market growth.
2) Restraints
- Data privacy and security concerns are restraining the market growth.
3) Opportunities
- Artificial Intelligence (AI) offers numerous opportunities for innovation and improvement within the healthcare market such as ai in rapid diagnostics, contact tracing, and vaccine development, emphasizing the role of ai in responding to global health crises.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global AI in healthcare market is segmented on the basis of offering, technology, application, and end user.The Global AI in Healthcare Market by Offering
- Hardware
- Software
- Services
The Global AI in Healthcare Market by Technology
- Machine Learning
- Natural Language Processing
- Computer Vision
- Context Aware Processing
The Global AI in Healthcare Market by Application
- Patient Data and Risk Analysis
- Medical Imaging & Diagnostics
- Drug Research and Discovery
- Inpatient Care & Hospital Management
- Healthcare Assistance Robots
- Connected Machine
- Cybersecurity
- Virtual Assistants
- Other Applications
The Global AI in Healthcare Market by End User
- Hospitals and Healthcare Providers
- Healthcare Payers
- Patients
Company Profiles
The companies covered in the report include- Siemens
- NVIDIA Corporation
- IBM Corporation
- Progress Software Corporation
- Microsoft
- Oracle
- Alphabet Inc.
- Koninklijke Philips N.V.
- GE HealthCare
- Intel Corporation
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the AI in healthcare market.2. Complete coverage of all the segments in the AI in healthcare market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global AI in healthcare market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global AI in Healthcare Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global AI in Healthcare Market by Offering
Chapter 7. Global AI in Healthcare Market by Technology
Chapter 8. Global AI in Healthcare Market by Application
Chapter 9. Global AI in Healthcare Market by End User
Chapter 10. Global AI in Healthcare Market by Region 2023-2030
Companies Mentioned
- Siemens
- NVIDIA Corporation
- IBM Corporation
- Progress Software Corporation
- Microsoft
- Oracle
- Alphabet Inc.
- Koninklijke Philips N.V.
- GE HealthCare
- Intel Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 14.16 Billion |
| Forecasted Market Value ( USD | $ 152.5 Billion |
| Compound Annual Growth Rate | 29.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
