Healthcare Artificial Intelligence Market Players, Trends, Share, Analysis and Forecast-2032
Healthcare Artificial Intelligence Market
The healthcare
artificial intelligence market is
expected to reach USD 21.52 Billion at of 51.90% CAGR during the forecast
period 2023-2032.
The growing desire to reduce healthcare expenses, as well as increases
in processing power and lower hardware costs, boost the healthcare artificial
intelligence market. An increase in the number of collaborations and
partnerships between various domains in the healthcare ecosystem, as well as a
greater need to improve the quality of healthcare services as a result of the
disconnect between patients and health workers.
Artificial intelligence allows doctors to use tools that help them
diagnose and treat patients more accurately and quickly. However, doctors are
hesitant to embrace modern technology, despite patients' increasing preference
for them over in-person therapy. With this issue posing a threat to the
doctor-patient connection and doctors' reluctance to use AI technology, the
healthcare artificial intelligence market is likely to suffer a setback
shortly.
Market
Potential and Pitfalls
Artificial Intelligence has developed several applications in the
healthcare sector, such as delivery of health services, detection of diseases,
drug discovery, and management of chronic diseases. It ensures effectiveness
and efficiency which is likely to trigger its adoption rate in the coming
years. AI has also strengthened its foothold in the healthcare research sector
for delivering accurate results. This has further contributed to the growth of
the market throughout the estimated period. The technology also helps to
overcome the human resource crisis by providing increased productivity by
automation of complicated tasks. With the increased application of AI in the
field of the medical imaging industry, drug discovery, genomics, and precision
medicine combined with the rising personalized treatments customized according
to the requirements of an individual patient, the global Healthcare Artificial
Intelligence Market is estimated to flourish.
Major Key
Players:
The major Healthcare Artificial Intelligence Market
Players are Deep
Genomics, Next IT Corp., General Vision, Google, NVIDIA Corporation, IBM Watson
Health, Intel Corporation, Koninklijke Philips N.V, General Electric, Stryker,
Microsoft Corporation, and CloudMedx Inc.
Segment Analysis
The global Healthcare
Artificial Intelligence Market has been segmented on the basis of component,
application, technology, and end-users.
By mode of
component, the healthcare AI market has been segmented into software,
hardware, and services.
By mode of
application, the healthcare AI market has been segmented into virtual nursing
assistant, robot-assisted surgery, clinical trial, dosage error reduction, automated image diagnosis, and preliminary
diagnosis. Among these, the robot-assisted surgery is predicted to occupy a
significant share owing to the high flexibility and precision ensured by robot-assisted surgeries during performing complicated procedures.
By mode of
technology, the healthcare AI market has been segmented into querying method,
machine learning, and natural language processing. Among these, the
machine-learning segment is predicted to experience the highest CAGR owing to
the ability to handle multiple dimensional data while enabling a reduction in
the process time cycle.
By mode of
end-users, the global Healthcare Artificial Intelligence Market has been
segmented into pharmaceutical & biotechnology companies, hospital &
diagnostic centers, and academic & research laboratories. Among these, the
hospitals & diagnostic centers occupy the largest market share owing to the
extensive application of AI in diagnostic imaging and robotic surgeries.
Regional Analysis
The Americas has the biggest AI market share in healthcare, which is
predicted to continue during the forecast period. A growing biotechnology
industry and increasing uses of robot-assisted surgery are two of the key
factors that have propelled the Americas to the forefront. An increasing need
for better diagnosis and treatment facilities, an increase in demand for
digital health systems, and a substantial presence in the area of important AI
inventions and product developers are all factors favoring AI in healthcare
market development.
Europe is the second-largest sector, because of ongoing R&D in the
healthcare AI field. The region's growth pattern is similar to that of the
Americas, and the region's business growth is aided by the rapid acceptance of
AI in healthcare. The Asia-Pacific region is a fast-growing market with a large
number of people seeking high-quality chronic disease treatment. The healthcare
sector in the region is quickly expanding due to rising spending.
Meanwhile, the Middle East and Africa would have slower growth than
other regions due to a lack of specialized healthcare facilities in parts of
the region. The rising healthcare artificial intelligence industry in the MEA
region is predicted to have the most impact on business growth.
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