0
2021
Ai In Healthcare Market

AI in Healthcare Market

by Offering (Software, Hardware, & Services), Algorithm (Deep Learning, Querying Method, Natural Language Processing, and Context Aware Processing), Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Dosage Error Reduction, Clinical Trial Participant Identifier, Preliminary Diagnosis, and Others), and End User (Healthcare Providers, Pharmaceutical & Biotechnology Companies, Patients, and Payer): Global Opportunity Analysis and Industry Forecast, 2021--2030
Update Available On-Demand

Report Code: A02090
Pages: 286
Aug 2021 | 42879 Views
Author(s) : Vishal B, Vikita , Onkar S
Tables: 152
Charts: 31
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Ai In Healthcare Market

Request Now !

The AI in healthcare market was valued at $8.23 billion in 2020, and is projected to reach $194.4 billion by 2030, growing at a CAGR of 38.1% from 2021 to 2030.Artificial intelligence is defined as an intelligent system that applies various human intelligence-based functions such as reasoning, learning, and problem-solving skills in different disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering. Artificial intelligence in healthcare makes use of algorithms and software to analyze complex medical data.

The impact of the COVID-19 pandemic has positively affected various healthcare-related markets, one of them being AI in healthcare. At present, AI technologies are playing a crucial role to combat the pandemic. Though the use of AI in healthcare is not a new notion, its application in the COVID-19 outbreak situation has proven its prospects in the sector. The AI tools are rapidly being used to detect & diagnose the virus and retort to the outbreak through personalized information and learning.

Artifical-Intelligence-(AI)-in-Healthcare-Market, 2020-2030

Artificial intelligence is used within the healthcare sector to research the connection between treatment techniques and patient outcomes. AI in healthcare has various applications in medication management, treatment plans, and drug discovery. It is used in medical practices such as diagnostic processes, personalized medicines, drug development, and patient monitoring care.

The growth of the artificial intelligence healthcare market is majorly driven by increase in volume of healthcare data and rise in complexities of datasets driving the necessity for AI in healthcare in the market. In addition, improvements in the computing power and decline in hardware costs, surge in number of cross-industry partnerships, collaborations, and rise in imbalance between the health workforce and patients drive the necessity for improvised healthcare services. 

For instance, in August 2017, Penn Medicine developed a predictive solution using machine learning where the system analyzes an individual's vital signs and helps to predict the risk of developing sepsis and detects the possibility of heart failure. 

Furthermore, the emergence of advanced hardware systems that would help to improve the efficiency and effectiveness of the AI software is expected to boost the market growth for hardware segment. For instance, in 2016, Nvidia introduced graphics processing units that improved the efficiency of using deep learning, and was 20–50 times more efficient than central processing units Another major factor fueling the market growth currently is the adoption of AI in healthcare by multiple pharmaceutical and biotechnology companies across the planet to expedite vaccine or drug development processes for COVID-19.

However, limited acceptance from healthcare professionals, owing to the risk of injury and misinterpretation is expected to hamper the growth of the global artificial intelligence in healthcare market.

Ai Healthcare Market Segmentation

The AI in healthcare market is segmented on the basis of offering, algorithm, application, end user, and region. By offering, the market is divided into hardware, software, and services. By algorithm, it is classified into deep learning, querying method, natural language processing, and context aware processing. By application, it is fragmented into robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and others. By end user, it is categorized into healthcare providers, pharmaceutical & biotechnology companies, patients, and payers. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Offering Segment review

By offering, the artificial intelligence in healthcare market is divided into hardware, software, and services. The software segment was the major revenue contributor in 2020 and is anticipated to remain dominant during the forecast period. Owing to continuous software innovation that caters to the requirement in the healthcare sector. The hardware segment is projected to witness the highest growth rate with a CAGR of 39.5% during the forecast period. Owing to Increase in need for AI hardware systems is anticipated to further provide opportunities for the players to develop in the market.

AI in Healthcare Market
By Offering

Your browser does not support the canvas element.

Software segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

Get more information on this report : Request Sample Pages

Algorithm Segment Review

By algorithm, the AI in healthcare market is classified into deep learning, querying method, natural language processing, and context aware processing. The natural language processing segment is projected to grow at a CAGR of 36.9% during the forecast period, owing to an increase in the use of signal reduction, data mining, and image recognition, which are integral components of most AI protocols.

AI in Healthcare Market
By Algorithms

Your browser does not support the canvas element.

Natural Language Processing Segment hold the dominant position and would continue to maintain the lead over the forecast period.

Get more information on this report : Request Sample Pages

Application Segment Review

By application, the AI in healthcare market is classified into robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and others. The robot-assisted surgery segment accounted for the highest share in 2020, generating $2.42 billion, and is expected to reach & $50.98 billion by 2030, growing at an estimated CAGR of 36.6%, owing to an upsurge in demand for minimally invasive surgeries where AI-assisted technologies are being widely used. The dosage error reduction segment is expected to witness the highest CAGR of 40.0%.

AI in Healthcare Market
By Application

Your browser does not support the canvas element.

Robot Assisted Surgery holds a dominant position in 2020 and continue to maintain lead in the forecast year

Get more information on this report : Request Sample Pages

End User Segment Review

By end user, the AI in healthcare market is divided into healthcare providers, pharmaceutical & biotechnology companies, patients, and payers. The healthcare providers segment dominates the end-user segment, and is expected to grow at a CAGR of 37.2% during the forecast period. An increase in usage & applications of AI systems to improve patient outcomes and maintain EHR & patient records are expected to boost the market growth.

AI in Healthcare Market
By End User

Your browser does not support the canvas element.

Healthcare Providers segements holds a dominant position in 2020 and continue to maintain lead in the forecast year

Get more information on this report : Request Sample Pages

Region Segment Review

North America was the largest shareholder in the artificial intelligence in healthcare market in 2020, owing to its well-established healthcare infrastructure, and supportive government regulations for product type commercialization are the major factors driving the growth of AI in healthcare market. However, Asia-Pacific is anticipated to register the highest CAGR of 44.5% during the forecast period, owing to rise in adoption of healthcare IT solutions, increase in funding for the development of AI capabilities, and major players are collaborating with universities and research centers for the development of advanced AI algorithms that could be used in the healthcare industry. For instance, Microsoft Corporation collaborated with the University of Pittsburgh Medical Center to introduce virtual AI assistant in February 2018. 

AI in Healthcare Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Asia Pacific region would exhibit the highest CAGR of 44.5% during 2020-2030

Get more information on this report : Request Sample Pages

Key players operating in the global artificial intelligence in healthcare market include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., Next IT Corporation, and iCarbonX.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the AI in healthcare market, and the current trends and future estimations to elucidate imminent investment pockets.
  • It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
  • Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Key Market Segments

By Offering

  • Hardware
  • Software
  • Services

By Algorithms

  • Deep Learning
  • Querying Method
  • Natural Language Processing 
  • Context Aware Processing

By Application

  • Robot-assisted Surgery
  • Virtual Nursing Assistant
  • Administrative Workflow Assistance
  • Fraud Detection
  • Dosage Error Reduction
  • Clinical Trial Participant Identifier
  • Preliminary Diagnosis 
  • Others

By End User

  • Healthcare Providers
  • Pharmaceutical & Biotechnology Company
  • Patients
  • Payers

By Region 

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil 
    • South Africa
    • Saudi Arabia 
    • Rest of LAMEA

Key Market Players 

  • Welltok, Inc.
  • Intel Corporation
  • Nvidia Corporation
  • Google Inc.
  • IBM Corporation
  • Microsoft Corporation
  • General Vision, Inc.
  • Enlitic, Inc.
  • Next IT Corporation
  • iCarbonX
 

Loading Table Of Content...


 
 

According to the analyst perspective, AI in healthcare market is expected to witness steady growth in the future. Increase in technological advancements coupled with rise in need for efficient and innovative solutions to enhance clinical and operational outcomes drive the growth of the market. In addition, an increase in the development of AI-based software solutions further propel the growth of the market. However, limited acceptance from healthcare professionals, owing to the risk of injury and misinterpretation hinder the growth of the global AI in healthcare market. On the contrary, increase in need for improvised healthcare services due to the imbalance between the health workforce & patients and the rise in number of cross-industry partnerships and collaborations are expected to drive the growth of the global AI in healthcare market in the future.

Further, the use of AI in healthcare is highest in North America, owing to technological advancements of these products in the U.S., followed by Europe and Asia-Pacific. In addition, key players in this industry have focused on expanding their presence in the emerging economies, which is anticipated to drive the market growth.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. The total market value of AI in healthcare market is $ 8.23 billion in 2020

A. The forecast period in the report is from 2021 to 2030

A. The market value of AI in healthcare market in 2030 was $ 194.14 billion

A. The base year for the report is 2020 in artificial intelligence in healthcare market.

A. Yes, AI in healthcare market companies are profiled in the report

A. The top companies that hold the market share in AI in healthcare market are Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc and IBM Corporation

A. No, there is value chain analysis provided in the AI in healthcare market report

A. The key trends in the AI in healthcare market are due to rise in adoption of AI systems and technological advancements in AI systems are anticipated to augment the market growth

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Ai In Healthcare Market

Start reading instantly.
This Report and over 19,311+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,712
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Aug 2022 - Aug 2023)
  • Data Pack
  • $4,125
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Aug 2022 - Aug 2023)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Aug 2022 - Aug 2023)
  • Five Users
  • $6,929
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Aug 2022 - Aug 2023)
  • Enterprise
    License/PDF

  • $10,663
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Aug 2022 - Aug 2023)
  • Library
    Membership

  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers