Report Scope & Overview:
The Artificial Intelligence in Healthcare Market Size was valued at USD 14.09 billion in 2022 and is expected to reach USD 187.57 billion by 2030 and grow at a CAGR of 38.2% over the forecast period 2023-2030.
A common definition of artificial intelligence (AI) is the branch of science and engineering used to design intelligent machines, especially intelligent computer programs. Artificial intelligence is defined as an intelligent system that utilizes many functions based on human ingenuity in fields including biology, computer science, mathematics, languages, intelligence, and engineering. These activities include thinking, reading, and problem-solving skills. In the healthcare industry, artificial intelligence is used to investigate the relationship between treatment modalities and patient outcomes.
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In the areas of medication management, therapeutic strategies, and drug development, AI has several uses. It is employed in medical procedures such diagnostic procedures, individualised medication, drug development, and patient monitoring care. In order to analyses, understand, and comprehend complicated medical and healthcare data, artificial intelligence (AI) in healthcare refers to the employment of sophisticated algorithms and software that mimic human perception.
Artificial intelligence (AI) is an intelligent system that connects numerous human intelligence-based activities, including such learning, reasoning, and problem-solving services, to diverse fields, including mathematics, biology, engineering, computer science, languages, and psychology. Additionally, drug research and development are more creative, efficient in terms of time and money, and innovative thanks to the integration of artificial intelligence (AI) and machine learning methods in the healthcare sector.
Large-scale and intricate healthcare dataset influx
More urgent need to lower healthcare expenses
Decreasing hardware costs and increasing computer power
Increasing number of alliances and collaborations between various industries in the healthcare industry
Growing need for improvised healthcare services as a result of the patient-to-staff ratio being out of balance
Medical professionals' reluctance to utilised AI-based technology
AI talent shortage and unclear regulatory requirements for medical software
AI-based tools for caring for the elderly have increasing potential.
The focus on creating AI systems that are aware of people is growing.
A growing role for AI in genomes, drug discovery, and imaging and diagnostics
Lack of carefully collected healthcare data
worries about the privacy of data
Between AI systems provided by various suppliers, there is a lack of compatibility.
IMPACT OF COVID-19
The market has benefitted from Covid-19. Artificial intelligence and machine learning technologies have become more widely used as a result of COVID-19. The epidemic demonstrated the strength and sophistication artificial intelligence can bring to the medical field and totally transform the sector. The increase in hospital patients has resulted in the acceptance and use of robotic surgery assistants, virtual assistants powered by artificial intelligence, inpatient care bots, and many other technologies.
By Offering type
The healthcare provider, pharmaceutical and biotechnology company, patient units, and payers are divided. Artificial Intelligence In Healthcare Market is expected to develop into the largest CAGR during the forecast period, with the leading Healthcare Provider category. The growth of this phase is driven by the benefits of AI programs offered by healthcare providers in diagnostic and treatment management.
The healthcare technology marketplace is divided into categories such as machine learning, natural language processing, contextual recognition computer, and computer vision. In-depth reading, supervised reading, enhanced reading, supervised reading, and other categories are categorized into within the machine learning field.
The market for AI in healthcare is segmented into robot-assisted surgery, virtual nursing assistants, administrative workflow support, fraud detection, dosage error reduction, clinical trial participant identifiers, preliminary diagnoses, and others. Due to a rise in demand for minimally invasive operations, where AI-assisted technologies are frequently used, the robot-assisted surgery category accounted for the largest proportion. The segment with the highest CAGR is anticipated to be dose error reduction.
By End User
The healthcare provider, pharmaceutical and biotechnology company, patient units, and payers are divided. Artificial Intelligence in Healthcare Market is expected to develop into the largest CAGR during the forecast period, with the leading Healthcare Provider category. The growth of this phase is driven by the benefits of AI programs offered by healthcare providers in diagnostic and treatment management.
KEY MARKET SEGMENTATION:
By Offering type
Natural Language Processing
Patient Data & Risk Analysis
Inpatient Care & Hospital Management
Medical Imaging & Diagnostics
Lifestyle Management & Monitoring
Healthcare Assistant Robots
Emergency Room & Surgery
By End User
Hospital & Healthcare Providers
Pharmaceuticals & Biotechnology Companies
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North America holds the highest level of expertise in the healthcare market. These are major factors contributing to the growth of the industry. However, Asia-Pacific is predicted to have a much higher CAGR at the time of forecasting due to increased regional adoption of IT healthcare solutions, increased funding for AI skills development, and greater player collaboration with educational institutions and research institutes. to create high-quality AI algorithms that can be used in the healthcare sector. As an example, Microsoft Corporation and the University of Pittsburgh Medical Center have worked together to provide a visual AI assistant.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Some of the major key players are Enlitic, Inc., General Vision, Inc., IBM Corporation, Google Inc., Intel Corporation, Microsoft Corporation, Next IT Corporation, iCarbonX, Welltok, Inc., Nvidia Corporation and other players.
|Market Size in 2022||US$ 14.09 Billion|
|Market Size by 2030||US$ 187.57 Billion|
|CAGR||CAGR of 38.2% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Offering type (Hardware, Software, Services)
• By Technology (Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision)
• By Application (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, Cybersecurity)
• By End User (Hospital & Healthcare Providers, Patients, Pharmaceuticals & Biotechnology Companies, Healthcare Payers)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Enlitic, Inc., General Vision, Inc., IBM Corporation, Google Inc., Intel Corporation, Microsoft Corporation, Next IT Corporation, iCarbonX, Welltok, Inc., Nvidia Corporation.|
|Key Drivers||• New AV Software Features, Like the Integration of Pacs & AV Tools
• Data Interpretation Is Improved by Technological Advances in AV Technology
• Increased Geriatric Population and Increasing Prevalence of Target Diseases
|Restraints||• Large-scale and intricate healthcare dataset influx
• More urgent need to lower healthcare expenses
• Decreasing hardware costs and increasing computer power
Ans: The Artificial Intelligence in Healthcare Market size was valued at US$ 14.09 Bn in 2022.
Ans: The Artificial Intelligence in Healthcare Market is to grow at a CAGR of 38.2% over the forecast period 2023-2030.
Artificial Intelligence in Healthcare Market is divided into four segments By Offering type, By Technology, By Application, and By End User
Medical professionals' reluctance to utilised AI-based technology, AI talent shortage and unclear regulatory requirements for medical software are the restraints of Artificial Intelligence in Healthcare Market.
The forecast period of Artificial Intelligence in Healthcare market is 2023 to 2030.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Artificial Intelligence in Healthcare Market Segmentation, By Offering type
9. Artificial Intelligence in Healthcare Market Segmentation, By Technology
9.1 Machine Learning
9.2 Natural Language Processing
9.3 Context-aware Computing
9.4 Computer Vision
10. Artificial Intelligence in Healthcare Market Segmentation, By Application
10.1 Patient Data & Risk Analysis
10.2 Inpatient Care & Hospital Management
10.3 Medical Imaging & Diagnostics
10.4 Lifestyle Management & Monitoring
10.5 Virtual Assistants
10.6 Drug Discovery
10.8 Healthcare Assistant Robots
10.9 Precision Medicine
10.10 Emergency Room & Surgery
10.12 Mental Health
11. Artificial Intelligence in Healthcare Market Segmentation, By End User
11.1 Hospital & Healthcare Providers
11.3 Pharmaceuticals & Biotechnology Companies
11.4 Healthcare Payers
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Enlitic, Inc.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 General Vision, Inc.
13.3 IBM Corporation
13.4 Google Inc.
13.5 Intel Corporation
13.6 Microsoft Corporation
13.7 Next IT Corporation
13.9 Welltok, Inc.
13.10 Nvidia Corporation.
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
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Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
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