PUBLISHER: Acute Market Reports | PRODUCT CODE: 1225590
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1225590
Overview:
The global artificial intelligent (AI) in healthcare market is primarily driven by the increasing usage of big data in healthcare sector and advantage of AI to improve the imbalance among the healthcare professionals and patients, augment patient outcomes and aid in clinical trial simulation and development process. The continuous research activities in disease diagnosis and monitoring will further increase the demand for incorporation of AI technologies. The continuous growth in population has led to the generation of large healthcare data, which requires AI to enhance data mining and computing abilities.
AI technology would help the medical practitioners efficiently which would cater the increasing patient demand. The rise in shift towards aging population would increase the strain on the healthcare system. AI technology is studied to expand its application in home healthcare support for the aged patients and those with chronic illnesses. For instance, Amazon's product Alexa is being researched to support patients with long-term health conditions such as diabetes.
Smart wearables play an important role in the healthcare industry. For instance, smart watches such as FitBit and wristbands aid in lifestyle improvement and enhance physical activity are on high demand. The ease of availability of such devices, rise in awareness and increase in adoption of healthy lifestyle has led to the rise in wearables. Consumers believe that wearing such smart devices that monitor their vital signs, daily calorie consumption and exercise patterns lead to an increase in life expectancy.
Data privacy would be the major hurdle that industry players investing in AI need to take care of. AI would replace humans in the forefront is on the major concerns that hamper the growth of AI in the healthcare sector. Medical devices using AI would also face regulatory challenges for approval, which could hamper the growth of this market.
AI in medicine is gaining demand across geographies. North America accounted for maximum market share owing to its high disposable income, rise in healthcare expenditure, the increase in demand for newer technologies and major market players being headquartered in this region. The high cost involved in development and requirement of a suitable healthcare infrastructure are the major causes that could hamper the growth of healthcare AI in low and middle-income economies.
The Global artificial intelligence in healthcare market involves a competitive pool of various industrial players namely, IBM Watson Health, Cyrcadia Health Inc., Modernizing Medicine, Aicure Llc, Berg Health, Mendasense Biometrics Ltd., Hindsait, Esko Bionics, Atomwise Inc., , Zebra Medical Vision, Sense.Ly Inc., Intel Corporation (US), Koninklijke Philips N.V. (Netherlands), Microsoft Corporation (US), IBM (US), Siemens Healthcare GmbH (Germany), NVIDIA Corporation (US), General Electric (GE) Company (US), Amazon Web Services, Inc. (US), Babylon Health (UK), Metadvice Ltd. (UK), PathAI (US), AiCure (US), Nuance Communications, Inc., DeepMind Technologies Limited.
This report offers:
A thorough understanding of global artificial intelligence in healthcare market
Market analysis for the period from 2016 to 2026, with 2016 as the historic year and 2017 as the base year
CAGR for the duration from 2018 to 2026 for each considered segment and the entire market
Qualitative information of the market dynamics in terms of market drivers, restraints and opportunities
An extensive understanding on the competitive landscape and profiles of the key industrial players dominating this market
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Artificial Intelligence In Healthcare market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Artificial Intelligence In Healthcare market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Offering
Hardware
Software
Services
Application
Patient Data and Risk Analysis
Lifestyle Management and Monitoring
Precision Medicine
In-Patient Care and Hospital Management
Medical Imaging and Diagnosis
Drug Discovery
Virtual Assistant
Region Segment (2021-2031; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of Covid-19 Segment (2021-2022; US$ Million )
Pre Covid-19 situation
Post Covid-19 situation
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Artificial Intelligence In Healthcare market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2031.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Artificial Intelligence In Healthcare market?
Which is the largest regional market for Artificial Intelligence In Healthcare market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Artificial Intelligence In Healthcare market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Artificial Intelligence In Healthcare market worldwide?