Artificial Intelligence In Healthcare Market Zooms Towards Billion-Dollar Valuation: Estimated to Reach USD 201.3 Billion by 2030: Verified Market Research®

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Jun 22, 2023, 10:10 ET

The "Global Artificial Intelligence In Healthcare Market Size By Offering, By Algorithm, By Application, By End-Use Industry, By Geographic Scope And Forecast" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Artificial Intelligence In Healthcare Market, including its growth prospects, market trends, and market challenges

JERSEY CITY, N.J., June 22, 2023 /PRNewswire/ -- The Global Artificial Intelligence In Healthcare Market is projected to grow at a CAGR of 45.5% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 6.48 Billion in 2021 and is expected to reach USD 201.3 Billion by the end of the forecast period.

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Browse in-depth TOC on "Artificial Intelligence In Healthcare Market"

202 - Pages
126 – Tables
37 – Figures

Global Artificial Intelligence in Healthcare Market Driven by Increasing Volume of Healthcare Data and Strategic Collaborations

The global market for artificial intelligence (AI) in healthcare is experiencing significant growth, fueled by various factors. A recent market research study has analyzed and identified the key drivers and challenges influencing the growth of the Global Artificial Intelligence in Healthcare Market. The study provides valuable insights into the industry's landscape and offers a comprehensive understanding of the market dynamics.

Market Growth Drivers:

Increasing Volume of Healthcare Data and Complex Datasets: The exponential growth in healthcare data, accompanied by the complexities of datasets, is driving the integration of AI solutions. The demand for AI technologies in healthcare is rising to effectively manage and utilize these vast amounts of data.
Cost Reduction Imperative: The pressing need to reduce towering healthcare costs is acting as a driving force for the adoption of AI in the industry. By harnessing AI capabilities, healthcare providers can optimize processes, enhance efficiency, and effectively reduce expenses.
Improving Computing Power and Declining Hardware Costs: Advances in computing power and the declining costs of hardware are contributing to the growth of AI in healthcare. These advancements enable the development and deployment of sophisticated AI algorithms and systems, empowering healthcare professionals with more powerful tools.
Cross-Industry Partnerships and Collaborations: The increasing number of partnerships and collaborations across different industries is fueling the adoption of AI in healthcare. These strategic alliances facilitate knowledge sharing, resource pooling, and accelerated innovation in AI applications for healthcare.
Imbalance Between Health Workforce and Patients: The growing discrepancy between the number of healthcare professionals and patients is creating a demand for improved healthcare services. AI-based solutions have the potential to bridge this gap by enhancing patient care, enabling more accurate diagnosis, and improving treatment outcomes.
Adoption by Pharmaceutical and Biotechnology Companies: The widespread adoption of AI technology by pharmaceutical and biotechnology companies worldwide has significantly contributed to the market's growth. These companies leverage AI to expedite vaccine and drug development processes, particularly in response to the COVID-19 pandemic.

Challenges:

Limited Acceptance from Healthcare Professionals: The reluctance of healthcare professionals to embrace AI-based technologies, due to concerns over potential risks such as injury and misinterpretation, poses a challenge to the growth of the Global Artificial Intelligence in Healthcare Market.
Imprecise Regulatory Scenario: The absence of a well-defined regulatory framework for AI in healthcare creates uncertainty and impedes market growth. Clear guidelines and standards are crucial to fostering the widespread adoption of AI technologies in the healthcare sector.

Key Players and Market Outlook:

Prominent players in the Global Artificial Intelligence in Healthcare Market include Nvidia, Intel, IBM, Google, General Electric (GE) Company, Microsoft Corporation, Siemens Healthineers, Medtronic, Micron Technology, and Amazon Web Services. These companies are continuously striving to improve their market positions through financial statements, product benchmarking, SWOT analysis, and key development strategies.

The market research report provides a comprehensive analysis of these key players, along with their market presence, product offerings, and competitive strategies. It also highlights the financial statements, product benchmarking, and SWOT analysis of these companies, giving stakeholders a deeper understanding of their market standing.

The Global Artificial Intelligence in Healthcare Market is expected to continue its upward trajectory, driven by the increasing demand for advanced healthcare solutions. North America, home to major multinational corporations such as IBM, Microsoft, Google, NVIDIA, Intel, GE Healthcare, and Johnson & Johnson, remains a key region in the AI in healthcare market.

For further information, detailed market insights, and a comprehensive analysis of the Global Artificial Intelligence in Healthcare Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Artificial Intelligence In Healthcare Market into Offering, Algorithm, Application, End-Use Industry, And Geography.

Artificial Intelligence In Healthcare Market, by Offering

Hardware
Software
Services

Artificial Intelligence In Healthcare Market, by Algorithm

Deep Learning
Querying Method
Natural Language Processing
Context-Aware Processing

Artificial Intelligence In Healthcare Market, by Application

Robot-assisted Surgery
Virtual Nursing Assistant
Administrative Workflow Assistance
Others

Artificial Intelligence In Healthcare Market, by End-Use Industry

Healthcare Provider
Pharmaceutical & Biotechnology Company
Patient
Payer

Artificial Intelligence In Healthcare Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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