The global market for AI in healthcare is projected to have a CAGR of around 51.5% during the forecast period. AI is the technology that combines the power of machine learning and deep learning technology used by many sectors including remote sensing, medical diagnosis, electronic trading, transportation, education, and others. It is one of the essential tools in the healthcare industry as it supports analysing complex medical data by utilizing software and algorithms. The AI-based technologies are also supported in detecting and preventing diseases in patients. Some of the factors attributing to the growth of the market include increasing demand for early and effective detection of diseases as people are becoming conscious regarding their health. Therefore, advanced AI technology supports in detecting the diagnosis of diseases on an early basis. Another factor being an increasing investment in healthcare to provide better healthcare facilities to patients that result in cost and time reduction of major surgeries.
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The global AI in healthcare market is segmented based on product type, application, and end-user. Based on the product type, the market is further classified into hardware and software & services. Further, based on the application the market is classified into diagnosis, biomarkers, AI-enabled hospital care, drug discovery and others. Based on end-user the market is segmented into hospitals and healthcare facilities, personal care, biotechnology, and pharmaceutical companies.
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Geographically, the global AI in the healthcare market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Europe is projected to grow at a significant CAGR during the forecast period. The market growth is attributed to the rising number of start-ups, increasing healthcare expenditure in the region. The other factors such well-developed ICT infrastructure, healthcare, and business services in countries such as the UK Germany, and others.
Global Artificial Intelligence (AI) in Healthcare Market – Segmentation
by Product Type
Hardware
Software and Services
by Application
Diagnosis
Biomarkers
AI Enabled Hospital Care
Drug Discovery
Others (Remote Monitoring)
by End-user
Hospitals and Healthcare Facilities
Personal Care
Biotechnology and Pharmaceutical Companies
Global Artificial Intelligence (AI) in Healthcare Market – Segmentation by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
3Scan, Inc.
Atomwise, Inc.
Amara Health Analytics Inc.
Bay Labs, Inc.
BioBeats Inc
Cloudmedx inc.
Google LLC
General Electric Co.
IBM Corp.
Intel Corp.
iCarbonX
Johnson & Johnson Services Inc.
Koninklijke Philips N.V.
Medtronic PLC
MedAware Systems, Inc.
Microsoft Corp.
Micron Technology Inc.
NVIDIA Corp.
Oncora Medical
Siemens AG
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