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AI in Healthcare Market (Offering - Hardware, Software, and Services; Technology - Machine Learning, Natural Language Processing, Computer Vision, and Context Aware Processing; Application - Patient Data and Risk Analysis, Medical Imaging & Diagnostics, Drug Research and Discovery, Inpatient Care & Hospital Management, Healthcare Assistance Robots, Connected Machine, Cybersecurity, Virtual Assistants, and Other Applications; End User - Hospitals and Healthcare Providers, Healthcare Payers, and Patients): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

AI in Healthcare Market (Offering - Hardware, Software, and Services; Technology - Machine Learning, Natural Language Processing, Computer Vision, and Context Aware Processing; Application - Patient Data and Risk Analysis, Medical Imaging & Diagnostics, Drug Research and Discovery, Inpatient Care & Hospital Management, Healthcare Assistance Robots, Connected Machine, Cybersecurity, Virtual Assistants, and Other Applications; End User - Hospitals and Healthcare Providers, Healthcare Payers, and Patients): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Report Code: IGR01281 Category: Healthcare & Medical Devices Published: October, 2023

A recent report published by Infinium Global Research on AI in healthcare market provides in-depth analysis of segments and sub-segments in the global as well as regional AI in healthcare market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional AI in healthcare market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global AI in healthcare market.

Market Insight:

The AI in healthcare was valued at USD 14.16 billion in 2022 and is expected to reach USD 152.50 billion in 2030, with a CAGR of 29.87% during the forecast period 2023-2030.

Artificial Intelligence (AI) in healthcare refers to the utilization of sophisticated computational algorithms and machine learning techniques to analyze, interpret, and make predictions from multifaceted health check statistics. AI is likely to change miscellaneous characteristics of healthcare, offering a broad variety of applications and benefits together with disease diagnosis and detection, custom-made treatment, drug discovery, telemedicine, etc. AI can help in the before-time detection and diagnosis of diseases. AI algorithms can examine medical imagery (such as X-rays, MRIs, and CT scans) to recognize abnormality or additional health circumstances more precisely and rapidly as compared to humans. Moreover, AI can help modify care plans for personal patients based on their medical history, genetics, and specific health data. This custom-made approach can guide to more effectual and well-organized treatment results. Furthermore, AI-powered algorithms can investigate huge datasets to identify potential drug candidates and predict their effectiveness in treating specific diseases. This can significantly increase the speed of the drug development process. The scope of Artificial Intelligence (AI) in healthcare is huge and continuously increasing, with the impending revolutionize of the healthcare industry.

Artificial Intelligence (AI) in the healthcare market is driven by the rising demand for advanced analytics. AI helps healthcare providers process and analyze large amounts of patient data quickly and accurately leading to improved patient care and outcome. This data-driven approach is becoming increasingly important in healthcare decision-making. Moreover, the growth of the market is driven by the increasing demand for personalized medicine. By assessing patient demographics medical history and other personal data AI helps to tailor treatment plans to individual patients. This personalized approach increases the effectiveness of treatment and reduces adverse effects. The growth of this market is driven by the growing demand for diagnostic and imaging innovations. AI algorithms can analyze medical images with remarkable accuracies such as X-rays, MRIs, and CT scans. This capability helps improve early disease detection and diagnostic accuracy ultimately saving lives. However, privacy concerns and security concerns hamper market growth. AI further offers numerous opportunities for innovation and improvement within the healthcare market such as AI in rapid diagnostics contact tracing and vaccine development which emphasize the role of AI in responding to global health crises.

AI in Healthcare Market Size, Share, Trends, Industry | IGR

North America is expected to lead the market due to various factors, including its advanced healthcare infrastructure, strong investment and funding, research and innovation hubs, sturdy industry ecosystem, and others. In particular, the United States and Canada, within North America, characteristic extremely urbanized healthcare infrastructures, surrounding many hospitals, medical centers, and diagnostic facilities that provide the best background for the incorporation of AI-powered medical solutions. Furthermore, the region has experienced important savings in healthcare technology and artificial intelligence, with considerable monetary support approaching from business enterprise capital firms, personal equity investors, and administration agencies. These investments are aimed at advancing AI applications in healthcare, including areas such as medical imaging and diagnostics. Additionally, North America has many internationally well-known research institutions, universities, and technology companies. These institutions and organizations are at the forefront of pioneering research in the field of medical imaging, AI algorithms, and solutions aimed at improving diagnosis and uplifting the standard of patient care. Europe has recognized a strong regulatory framework for AI in healthcare, counting the GDPR (General Data Protection Regulation) and the Medical Device Regulation (MDR). These rules provide a clear path for AI adoption by addressing data privacy and the safety of AI medical devices, nurturing faith with patients and healthcare experts. Moreover, numerous research institutions, universities, and healthcare organizations in Europe are actively engaged in AI research and innovation. Collaboration between academia and industry plays a very important role in mounting advanced AI solutions.

Report Scope of the AI in Healthcare Market:

Report Coverage Details
Market Size in 2022 USD 14.16 Billion
Market Size by 2030 USD 152.50 Billion
Growth Rate from 2023 to 2030 CAGR of 29.87%
Largest Market North America
No. of Pages 300
Market Drivers
  • AI in the healthcare market is driven by growing demand for advanced data analytics.

  • The rising demand for diagnostic and imaging advancements is responsible for the market growth.

Market Segmentation By Offering, By Technology, By Application, and By End User
Regional Scope North America, Europe, Asia Pacific, and RoW

Segment Covered

The report on global AI in healthcare market covers segments such as offering, technology, application, and end user. On the basis of offering, the sub-markets include hardware, software, and services. On the basis of technology, the sub-markets include machine learning, natural language processing, computer vision, and context aware processing. On the basis of application, the sub-markets include patient data and risk analysis, medical imaging & diagnostics, drug research and discovery, inpatient care & hospital management, healthcare assistance robots, connected machine, cybersecurity, virtual assistants, and other applications. On the basis of end user, the sub-markets include hospitals and healthcare providers, healthcare payers, and patients.

Companies Profiled:

The report provides profiles of the companies in the market such as Siemens, NVIDIA Corporation, IBM Corporation, Progress Software Corporation, Microsoft, Oracle, Alphabet Inc., Koninklijke Philips N.V., GE HealthCare, and Intel Corporation.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the AI in healthcare market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Frequently Asked Questions (FAQ's)

The global AI in healthcare market was valued at USD 14.16 Billion in 2022.
It is likely to grow at a CAGR of 29.87% during the forecast period 2023-2030.
The global AI in healthcare market is estimated to reach USD 152.50 Billion by the end of 2030.
North America is anticipated to exhibit high demand for AI in healthcare market during the forecast period.
Siemens, NVIDIA Corporation, IBM Corporation, Progress Software Corporation, Microsoft, Oracle, Alphabet Inc., Koninklijke Philips N.V., GE HealthCare, and Intel Corporation.
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