The persuasive Artificial Intelligence in Healthcare market survey report revises a range of parameters all through the report which analyses the market status in detail. As today’s businesses greatly demand market research analysis before taking any verdict about the products, opting for such a market report is vital for the businesses. Market segmentation gives a clear idea about product consumption based on several factors that include but are not limited to type, application, deployment model, end user and geographical region. The finest Artificial Intelligence in Healthcare market report is a proven source to gain valuable market insights and take better decisions about important business strategies.
Data Bridge Market Research analyses that the artificial intelligence in healthcare market is expected to undergo a CAGR of 51.37% during the forecast period of 2022-2029. This indicates that the market value, which was USD 6.35 billion in 2021, would rocket up to USD 175.22 billion by 2029.
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Artificial intelligence is being increasingly used by a wide range of industry verticals. Artificial intelligence has revolutionized the healthcare sector and improved the quality of healthcare facilities. Artificial intelligence has reduced the dependence on humans and subsequently reduced the number of human errors. Artificial intelligence in healthcare is facilitating advanced and modern treatment even in the remote areas. “Patients” dominates the end-user segment of artificial intelligence in the healthcare market owing to the increasing product launches, availability of the larger patient pool, high resource availability, high penetration of high speed internet and advancements in healthcare technologies. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
An Outline of Competitive Landscape of the Market - Artificial Intelligence in Healthcare Market
The artificial intelligence in healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to artificial intelligence in healthcare market.
Some of the major players operating in the artificial intelligence in healthcare market are NVIDIA Corporation (US), Intel Corporation (US), IBM (US), Google LLC (US), Microsoft (US), General Vision Inc. (US), Johnson & Johnson Services, Inc. (US), Siemens Healthcare GmbH (Germany), Medtronic (Ireland), CloudMedx Inc. (US), Agfa-Gevaert Group (Belgium), Oncora Medical (US), Imagia Cybernetics Inc. (Canada), Micron Technology, Inc. (US), DeepMind Technologies Limited (UK), Welcome AI (US), Koninklijke Philips N.V. (Netherlands), GENERAL ELECTRIC COMPANY (US), Precision Health AI (US), and Cloud Pharmaceuticals, Inc., (US) among others.
The worldwide Artificial Intelligence in Healthcare market report includes a number of market dynamics and estimations of the growth rate and the market value based on market dynamics and growth inducing factors. DBMR team with project supervisors, introduces the customers on each key viewpoint including product improvement, key regions of advancement, application demonstrating, utilization of innovations, the obtaining methodologies, investigating specialty development openings and new markets. Not to mention, a high-quality global Artificial Intelligence in Healthcare market report is amazingly characterized with the application of several charts, graphs and tables depending on the extent of data and information involved.
Global Market Analysis - Segmentation - Artificial Intelligence in Healthcare Market
The artificial intelligence in healthcare market is segmented on the basis of offering, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
Hardware
Software
Services
Based on offering, the artificial intelligence in healthcare market is segmented into hardware, software and services. Hardware has further been segmented into processor, memory and network. Processor is further sub-segmented into memory processing unit, graphical processing unit, field programmable gate array and ASIC. Software has further been segmented into AI solutions and AI platform. AI solutions are further sub-segmented into on-premises and cloud. AI platform are further sub-segmented into machine learning framework and application program interface (API). Services have further been segmented into deployment and integration and support and maintenance.
Technology
Machine Learning
Natural Language Processing
Context- Aware Computing
Computer Vision
On the basis of technology, the artificial intelligence in healthcare market is segmented into machine learning, natural language processing, context- aware computing and computer vision. Machine learning is further been segmented into deep learning, supervised learning, reinforcement learning, unsupervised learning and others.
Application
Robot-assisted Surgery
Virtual Assistants
Administrative Workflow Assistants
Connected Machines
Diagnosis
Clinical Trials
Fraud Detection
Cyber security
Dosage Error Reduction
On the basis of application, the artificial intelligence in healthcare market is segmented into robot-assisted surgery, virtual assistants, administrative workflow assistants, connected machines, diagnosis, clinical trials, fraud detection, cyber security and dosage error reduction.
End-user
Patients
Pharmaceuticals and Biotechnology Companies
Healthcare Payers
Others
The end user segment of artificial intelligence in healthcare market is segmented into patients, pharmaceuticals and biotechnology companies, healthcare payers and others.
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Artificial Intelligence in Healthcare Market Dynamics
Drivers
The rise in the prevalence of disorders
Surging prevalence of chronic and acute disorders and diseases all around the globe owing to various internal and external factors is one of the major factors responsible for fostering growth of the market. Rising patient pool especially in the developing economies is carving the way for the growth of the market.
Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies have led to the advancements in the medical technology and have improved the quality of healthcare facilities.
Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the growth of the market. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative personal health devices market growth opportunities.
Additionally, surge in the personal disposable income level, introduction of technologically driven product in hospitals and increasing investment for the development of advanced, growing demand for robotically assisted surgeries, rising adoption of minimally invasive devices and innovative technology, positively affect the market growth rate.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, increasing need for improvised healthcare services owing to imbalance between health workforce and patients and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, rising geriatric population base, rising number of cross-industry partnerships and collaborations and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges
On the other hand, high cost associated with the research and development proficiencies, reluctance among medical practitioners to adopt artificial intelligence-based technologies and clinical risks and difficulties related with the medical procedures are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, lack of curated healthcare data, concerns related to data privacy, lack of interoperability and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This artificial intelligence in healthcare market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial intelligence in healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Artificial Intelligence in Healthcare Market
Covid-19 has had a positive impact on the market. Covid-19 led to the rise in the adoption of artificial intelligence and machine learning solutions. The pandemic showcased the prowess and sophistication artificial intelligence can bring to the healthcare sector and completely revolutionize the industry. The influx of patients in the hospitals led to the increasing adoption and application of robotically assisted medical surgeries, artificial intelligence-based virtual assistants, inpatient care bots and much more.
Recent developments
- In January 2019, Dartford and Gravesham NHS Trust in the United Kingdom came up with an AI-powered wearable technology for patient monitoring when they are discharged from the hospitals.
- In October 2019, care.ai and NVIDIA announced a collaboration to provide an artificial intelligence-powered autonomous patient monitoring in healthcare leveraging NVIDIA’S platform.
- In March 2020, care.ai formed a partnership with the Texas Hospital Association (THA) for creating statewide adoption of AI for autonomous monitoring.
Regional Market Analysis - Artificial Intelligence in Healthcare Market
The artificial intelligence in healthcare market is analysed and market size insights and trends are provided by country, offering, technology, application and end user as referenced above.
The countries covered in the artificial intelligence in healthcare market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the artificial intelligence in healthcare market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, high adoption rate of minimally invasive procedures, availability of reimbursements, rising geriatric population, high healthcare spending combined with the onset of Covid-19 pandemic and rising number of research activities in this region.
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The Artificial Intelligence in Healthcare Market Report gives answers to the following questions:
- What market segments are covered in Artificial Intelligence in Healthcare Market report?
- Who are the major players operating in Artificial Intelligence in Healthcare Market?
- What is the future market value for Artificial Intelligence in Healthcare Market?
- What is the growth rate of the Artificial Intelligence in Healthcare Market?
- What are the major countries covered in the Market?
- Which are the major market drivers for Artificial Intelligence in Healthcare Market?
- What are the upstream raw materials and manufacturing equipment of Artificial Intelligence in Healthcare along with the manufacturing process of Artificial Intelligence in Healthcare?
- Economic impact on the Artificial Intelligence in Healthcare industry and development trend of the Artificial Intelligence in Healthcare industry.
- What are the market opportunities, market risk, and market overview of the Artificial Intelligence in Healthcare market?
Research Methodology: Global Artificial Intelligence in Healthcare Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models.
- Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
- The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation.
- Apart from this, data models include the Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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