Artificial Intelligence (AI) Healthcare Market: Global Industry Analysis and Forecast (2022-2029)

Artificial Intelligence (AI) Healthcare Market was valued at USD 6.4 Billion in 2021, and it is expected to reach USD 97.23 Billion by 2029, exhibiting a CAGR of 40.51 % during the forecast period (2022-2029).

AI is an intelligent system, which applies numerous human intelligence established for functions like reasoning, learning, and problem-solving skills on different disciplines identical as biology, computer science, mathematics, linguistics, psychology, and engineering. AI is widely applicable in medical management, treatment plans, and drug discovery. (Connectivity and Content, and Distribution Channel). Data has been provided by market participants, and Distribution Channel (North America, Asia Pacific, Europe, Middle East & Africa, and South America).To know about the Research Methodology:-Request Free Sample Report

The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all Devices sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Artificial Intelligence (AI) Healthcare Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Artificial Intelligence (AI) Healthcare Market’s contemporary competitive scenario.
Artificial Intelligence (AI) Healthcare Market Dynamics
Over the next seven years, surging frequency of chronic and acute conditions and complications all around the globe owing to varied internal and external factors is one of the major factors responsible for fostering growth of the market. Rising patient pool particularly in the developing economies is carving the way for the growth in the market.

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further produce economic request growth openings. Research and development proficiencies have led to the advancements in the medical technology and have upgraded the quality of healthcare installations.

The increase in the financing by the federal government is set to drive the growth of the market. furthermore, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will produce economic personal health devices market growth opportunities. also, surge in the individual disposable income level, introduction of technologically driven product in hospitals and accelerating investment for the development of advanced, growing demand for robotically assisted surgeries, rising relinquishment of minimally invasive devices and innovative technology, positively affect the market growth rate.

Likewise, upsurge in the public-private financing for target research activities, expanding need for improvised healthcare services owing to imbalance between health pool and cases and rising product inventions and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecasting period of 2022 to 2029. also, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, rising geriatric population base, rising number of cross-industry affiliations and collaborations and adding per capita expenditure on health care will further expand the demand's growth rate in the future.

On the other hand, high cost associated with the research and development proficiencies, hesitancy among medical practitioners to adopt artificial intelligence- based technologies and clinical threats 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, enterprises related to data sequestration, lack of interoperability and lack of suitable structure in low- and middle- income countries are projected to challenge the market in the cast period of 2022- 2029.

This artificial intelligence in healthcare market report provides details of new recent developments, trade regulations, import- export analysis, product analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of arising profit pockets, changes in request regulations, strategic market growth analysis, market size, category market growths, operation niches and dominance, product approvals, product launches, geographic expansions, technological inventions in the market.
Artificial Intelligence (AI) Healthcare Market Segment Analysis
MMR provides an analysis of the key trends in each sub-segment of the Blood Irradiator Device
By application, the clinical trials segment dominated the AI in the healthcare market in 2021 and held for the largest profit share of 24.2% owing to the growing number of patent expirations, rising demand for faster and accurate clinical trials to provision to the need for new medication discoveries and medication development. Although, prior to the pandemic AI- technologies in clinical trials were still in an incipient stage, now with the growth in demand for faster clinical trials supporting trial designing, study adherence, minimizing dropout rates, and patient recovery, AI- based technologies in clinical trials has witnessed a swell in relinquishment. dwindling the quantum of time needed in performing clinical trials and enhancing the accurateness and dependability of the clinical trial are expected to boost the market growth. Life science associations, government regulatory authorities, and healthcare start- ups are beginning to support and adopt AI- empowered results in their processes.

The demand for Health information exchange (HIE) and interoperability solutions are increasing becauseit offers superior supply chain management, workforce management, fraud detection, and consumer affiliation management tools. These structures combine to streamline administrative tasks, which are presently completed physically, and may assistance organizations proactively recognize opportunities for improvement.

The Cloud-based solutions are estimated to contribute US$ xx% Bn share in the global artificial intelligence (AI) healthcare market. It is projected to grow at a xx% rate of CAGR because of the rise in popularity as organizations pursue immediate, low-cost options for deploying and maintaining health IT systems.

Healthcare providers are focusing to adopt AI widely in intelligent tracking of biometric information and primary diagnosis of diseases. AI is increasing the treatments and the satisfaction of both patients and clinicians. The applications of AI mainly comprise smart devices, assisted living, fall detection, home health monitoring, and virtual companions like elderly care robotics. The technology development in the healthcare sector is expected to drive the market growth.
Artificial Intelligence (AI) Healthcare Market End-Industrial Insights
Aggregate demand for sophisticated and well-organized medical devices is driving the growth of the US market. Increasing medical costs, medical needs of the aging population, and the number of cases of Devices are also some of the drivers behind market growth. The pharmaceutical market is expected to grow rapidly, but political instability is now affecting the global economy as a whole. For example, Trump's trade war with China and the turmoil in the UK's Brevity process have created market uncertainty in the Artificial Intelligence (AI) Healthcare market. The pharmaceutical Devices tends to operate on a longer timescale throughout the political cycle, and business fundamentals are expected to be strong and very bullish during the forecast period.

The objective of the report is to present a comprehensive analysis of the global Artificial Intelligence (AI) Healthcare Market to the stakeholders in the Devices. The past and current status of the Devices with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the Devices with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the Devices to the decision-makers.

The reports also help in understanding the Artificial Intelligence (AI) Healthcare Market dynamic, structure by analysing the market segments and projecting the Artificial Intelligence (AI) Healthcare Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, Devices portfolio, growth strategies, and End-Industrial presence in the Artificial Intelligence (AI) Healthcare Market make the report investor’s guide.
Artificial Intelligence (AI) Healthcare Market Scope: Inquire before buying



Global Artificial Intelligence (AI) Healthcare Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 6.4 Bn.


Forecast Period 2022 to 2029 CAGR:
40.51%
Market Size in 2029:
US $ 97.23  Bn.


 Segments Covered:
by Type
• Deep Learning
• Querying Application
• Natural Language Processing
• Context Aware Processing


by Application
• Robot-assisted Surger
• 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



Artificial Intelligence (AI) Healthcare Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Artificial Intelligence (AI) Healthcare Market Key Players are:
• Shimadzu Recursion Pharmaceuticals, Inc.
• Siemens Healthineers
• General Electric (GE) Company
• Koninklijke Philips N.V.
• Cloudmedx, Inc.
• Bay Labs
• Welltok, Inc.
• Intel Corporation
• Nvidia Corporation
• Google Inc.
• IBM Corporation
• Microsoft Corporation
• General Vision, Inc.
• Enlitic, Inc.
• Next IT Corporation
• iCarbonX.
• Deep Genomics Inc.
• Enlitic Inc.
• International Business Machines Corporation (IBM)
• Oncore Medical Inc.
• Recursion Pharmaceuticals Inc.
• Stryker Corporation

Frequently Asked Questions:

1] What segments are covered in the Global Artificial Intelligence (AI) Healthcare Market report?
Ans. The segments covered in the Artificial Intelligence (AI) Healthcare Market report are based on Type, Application and End-User.

2] Which End-User is expected to hold the highest share in the Global Artificial Intelligence (AI) Healthcare Market?
Ans. The Asia Pacific End-User is expected to hold the highest share in the Artificial Intelligence (AI) Healthcare Market.

3] What is the market size of the Global Artificial Intelligence (AI) Healthcare Market by 2029?
Ans. The market size of the Artificial Intelligence (AI) Healthcare Market by 2029 is expected to reach USD 97.23 Bn.

4] What is the forecast period for the Global Artificial Intelligence (AI) Healthcare Market?
Ans. The forecast period for the Artificial Intelligence (AI) Healthcare Market is 2021-2029.

5] What was the market size of the Global Artificial Intelligence (AI) Healthcare Market in 2021?
Ans. The market size of the Artificial Intelligence (AI) Healthcare Market in 2021 was valued at USD 6.4 Bn.