AI in Healthcare Market expected to reach $ 99.491 Billion by 2027—Allied Market Research


quote The AI in healthcare market is majorly driven by surge in processing power of AI systems leading to enhanced AI capabilities and application of AI for novel surgeries. Furthermore, potential of AI-based tools for elderly care and the untapped potential of emerging markets, such as China and India, are expected to present various opportunities for market expansion quote

Onkar Sumant
Manager, Healthcare at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       

According to a new report published by Allied Market Research, titled, “AI in healthcare Market by Offering, Algorithm, Application and End User:  Opportunity Analysis and Industry Forecast, 2019–2027,"the AI in healthcare market was valued at $4,836.87million in 2019 and is projected to reach $99,491.58 million by 2027, registering a CAGR of 42.8% from 2020 to 2027. 

Artificial intelligence assists the machines to perform any task without human interventions. It uses different algorithm and software that help the machine to inculcate perception and reasoning for various situations. AI is widely applicable in the healthcare sector for various purposes such as drug discovery and precision medicine. In addition, it is used to analyze patient’s medical data, predict disease onset, and personalize treatment provided to the patient. 

Artificial intelligence is rapidly being adopted by government agencies, research industries among others so as to find a treatment against the viral infection. AI has emerged as a boon to control the COVID-19 pandemic and is widely being employed by policy makers, and medical professionals to manage the outbreak effect and accelerate its early detection, prevention, response, recovery and to pace the research.

Major factors that supplement the growth of the AI market in healthcare are the ability of AI to improve patient outcomes, need to increase coordination between healthcare workforce and patients, surge in adoption of precision medicine, and a significant rise in venture capital investments. In addition, increase in significance of big data in healthcare is expected to fuel the market growth. However, unclear regulatory scenario and reluctance among healthcare professionals to adopt AI-based technologies are expected to impede this growth. On the contrary, potential of AI-based tools for elderly care and the untapped potential of emerging markets, such as China and India, are expected to present various opportunities for market expansion.

By offering segment, market is divided in to hardware, software, and services. In terms of offerings, the software segment occupied the highest share in 2019, owing to continuous software innovation that caters to the requirement in the healthcare sector. An AI software is capable of learning things in real sense, and recognizes patterns in digital representations of sounds, images, and other data. The hardware segment is projected to witness the highest growth rate of during the forecast period.

By algorithm, the market is bifurcated intodeep learning, querying method, natural language processing, and context aware processing. The natural language processing segment occupied the highest share in 2019, as it plays a vital role in decision-making process of the healthcare professionals. As machine learning and deep learning capabilities of artificial intelligence achieve better clinical outcomes during diagnosis and surgical procedure, it is expected to grow at the highest CAGR during the forecast period. 

The AI in healthcare market is segmented based on offering, algorithm, application, end user, and region. On the basis of 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. The application segment includes robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and others. Depending on end user, the market is fragmented into healthcare providers, pharmaceutical & Biotechnology Companies, patients, and payer. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key findings of the study

  • By offerings, the software segment occupied 64.4% share of the AI in healthcare market in 2019.

  • By algorithm, the natural language processingsegment is anticipated to grow with the highest CAGR throughout the forecast period.

  • By region, the Asia-Pacific AI in healthcare market is anticipated to experience growth at 48.0% during the forecast period.

Prominent players in the AI in healthcare market have adopted various strategies such as developing advanced AI in healthcare thereby addressing the evolving healthcare needs among patients and healthcare
providers.The report provides extensive competitive analysis and profiles of key market players, such as Alphabet Inc., Enlitic Inc, General Vision, iCarbonX, Intel Corporation, IBM Corporation, Microsoft Corporation, Nvidia Corporation, Next IT Corp and Welltok Inc.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com


For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at


First time buyer?
Check offers and discount on this report
To get this report

Click Here

quote AI in Healthcare Market by Offering (Hardware, Software, and 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, 2019-2027 quote

View Report

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.


Why Allied Market Research?


Infallible Methodology

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

Analyst Support

For complete satisfaction


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


Featured Readings


Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

Get Industry Data Alerts

Buy Full Version
"AI in Healthcare Market"
Purchase Enquiry