AI in Healthcare Market Size is Estimated to Reach USD 99,491.58 Million by 2027 - Valuates Reports

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Jun 30, 2020, 10:30 ET

BANGALORE, India, June 30, 2020 /PRNewswire/ -- The Artificial Intelligence (AI) in the healthcare market was valued at USD 4,836.87 Million in 2019 and is projected to reach USD 99,491.58 Million by 2027, registering a CAGR of 42.8% from 2020 to 2027.

AI in health represents a collection of multiple technologies enabling machines to sense, comprehend, act and learn so they can perform administrative and clinical healthcare functions.

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TRENDS INFLUENCING THE AI IN HEALTHCARE MARKET SIZE

AI-based apps can be used for continuous monitoring of health, which would, in turn, ensure timely care & treatment and can eventually reduce hospital stay. These advantages are, in turn, expected to fuel the growth of AI in healthcare market size.
Technological developments in AI systems are expected to fuel the growth of AI in healthcare market size. The future of AI-based Patient care technologies and the untapped potential of emerging markets, such as China and India, is expected to pose diverse market expansion opportunities.
The increasing number of cross-industry partnerships is expected to boost the adoption of AI in healthcare sector
The number of artificial intelligence start-ups in the healthcare sector has increased dramatically, and the trend is expected to be the same in the coming years. Increasing funding in the form of venture capital is a key factor responsible for the growth of AI in healthcare market size
It is expected that an imprecise regulatory scenario and the unwillingness of healthcare professionals to implement AI-based technologies could impede market development.

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AI IN HEALTHCARE MARKET SHARE ANALYSIS

North America accounted for the largest market share in the AI in the healthcare market in 2016 and is expected to retain its dominance throughout the forecast period. The presence of major AI technology and product developers in the region, increasing demand for improved diagnosis and treatment services, and rise in demand for digital health systems are expected to increase the AI in healthcare market size in this region.
The Asia Pacific is expected to emerge as the fastest-growing region. Improving infrastructure for healthcare IT, rising number of AI start-ups and gradually increasing adoption of advanced technologies are some of the factors contributing to market growth.

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KEY PLAYERS

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

KEY MARKET SEGMENTS

By Offering
Hardware
Software
Service.

By Technology

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 Provider
Pharmaceutical & Biotechnology Company
Patient
Payer.

By Geography

North America
Europe
Asia-Pacific
LAMEA

The other players of the artificial intelligence in healthcare market include (companies not profiled in the report):

Shimadzu Recursion Pharmaceuticals, Inc.
Siemens Healthineers
General Electric (GE) Company
Koninklijke Philips N.V.
Cloudmedx, Inc.
Bay Labs, Inc.

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SIMILAR REPORTS

● COVID-19 Impact on Global Artificial Intelligence in Medical Imaging Market Report

It is becoming increasingly apparent that AI is changing the diagnostic imaging industry, both in terms of increased efficiency, increased diagnosis precision, more customized patient planning and, eventually, improved clinical outcomes.

AI will play a key role in enabling radiology departments to cope with the ever-increasing volume of diagnostic imaging procedures.

While the market holds great promise, it is still in the innovator and early adopter phase, and there are several barriers to growth that need to be overcome before AI becomes mainstream in medical imaging:

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Artificial Intelligence in Drug Discovery Market Report

The growth of artificial intelligence in the drug discovery market is driven primarily by factors such as the number of cross-industry alliances and partnerships, the need to monitor drug discovery & development costs and minimize the overall time taken in this process, and the adoption of cloud-based software & services

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-22N1764/global-artificial-intelligence-in-drug-discovery

COVID-19 Impact on Global Artificial Intelligence In Healthcare Service Market

AI in healthcare services market size is driven by factors such as AI's potential to enhance patient care, increase in adoption of precision medicine, and a significant rise in investments in the form of venture capital.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-11T2486/global-artificial-intelligence-in-healthcare-service

Artificial Intelligence in Medicine Market Report

The global artificial intelligence in medicines market was valued at USD 719 Million in 2017 and is estimated to reach USD 18,119 Million at a CAGR of 49.6% from 2018 to 2025.

The major factors driving the growth of AI in Medicine Market size are the dearth of qualified healthcare practitioners, and improvement in the computing capacity of AI systems, improvement in drug development efficiency and clinical trial management.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-4H277/artificial-intelligence-in-medicine

Artificial Intelligence (AI) Market Report

The global artificial intelligence market size is expected to reach USD 169,411.8 Million in 2025, from USD 4,065.0 Million in 2016, growing at a CAGR of 55.6% from 2018 to 2025.

AI is positioned at the core of the next-gen software technologies in the market. Companies such as Google, IBM, Microsoft, and other leading players have actively implemented AI as a crucial part of their technologies.

The report focuses on the growth prospects, restraints, and artificial intelligence market trends. The study provides Porter's five forces analysis of the AI industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the artificial intelligence market growth.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-3F324/artificial-intelligence-ai

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