AI in Healthcare Market Scope
Artificial intelligence (AI) in healthcare is the use of algorithms to manage large set of data in healthcare and provide data driven diagnostic solution. Growing number of healthcare service providers fueled by increasing government support are decoding the vast potential of incorporation of AI in healthcare which is still in its infancy stage.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | NVIDIA [United States], Google [United States], IBM [United States], Microsoft [United States], General Vision [ United States], Enlitic [United States], Next IT [United States], Welltok [United States], ICarbonX [China], Recursion Pharmaceuticals [United Sttaes], GE [United States], Siemens [ Germany], Johnson & Johnson [United States], Medtronic [Ireland], Careskore [United States], Zephyr Health [United States], Oncora Medical [United States], Sentrian [Australia], Bay Labs [United States], Deep Genomics [Canada] and Cloudmedx [united States] |
CAGR | % |
AI in Healthcare market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global AI in Healthcare market throughout the predicted period.
NVIDIA [United States], Google [United States], IBM [United States], Microsoft [United States], General Vision [ United States], Enlitic [United States], Next IT [United States], Welltok [United States], ICarbonX [China], Recursion Pharmaceuticals [United Sttaes], GE [United States], Siemens [ Germany], Johnson & Johnson [United States], Medtronic [Ireland], Careskore [United States], Zephyr Health [United States], Oncora Medical [United States], Sentrian [Australia], Bay Labs [United States], Deep Genomics [Canada] and Cloudmedx [united States] are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Intel [United States], AWS [United States]., Imagia Cybernetics [Canada], Precision Health AI [United States] and Cloud Pharmaceuticals [United States].
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global AI in Healthcare market by Type , by Application (Drug discovery, Inpatient care & hospital management, Lifestyle management & monitoring, Medical imaging & diagnostics, Patient data & risk analysis, Precision medicine, Research, Virtual assistant and Wearables) and Region with country level break-up.
On the basis of geography, the market of AI in Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
In July 2018, ResMed , a global leader in sleep apnea treatment in collaboration with Verily announced their agreement to set up a new venture to study the health and financial impacts of undiagnosed and untreated sleep apnea. Moreover, the collaboration is aim to develop software to enable healthcare providers to more efficiently identify, diagnose, treat and manage individuals with sleep apnea and other breathing-related sleep disorders.
Influencing Trend:
Shift from Doctor-Centric Diagnostics to Data-Driven Diagnostics and Rise in Adoption of Cloud Computing
Market Growth Drivers:
Growing Need for Cost Effective Healthcare Solution and Growing Complex and Large Data Set
Challenges:
Protecting Data Security and Patients Data and Issues Related with Interoperability
Restraints:
Lack of Skilled Workforce to Manage AI in Healthcare and Reluctance Among Healthcare Staff Towards Adoption of AI
Opportunities:
Growing Focus on Development of Human-Aware AI Systems and Rise in Healthcare Budget and Growing Data Volume
Key Target Audience
Healthcare Service Providers, AI Interrogators, Potential technology Investors, Research Institutes, Government Agencies and Others