Artificial Intelligence in Healthcare Market Expected to Reach $36 Billion by 2028

The global artificial intelligence in healthcare market is expected to reach $36 billion by 2028, according to a new report by research firm Market Square Insights. The report predicts a compound annual growth rate (CAGR) of 44.9% from 2022 to 2028, driven by increasing adoption of AI technology in healthcare to improve patient outcomes and reduce costs.

The COVID-19 pandemic has accelerated the adoption of AI in healthcare, as hospitals and clinics seek to minimise in-person contact and streamline operations. AI-powered tools such as chatbots and virtual assistants have been used to triage patients, while machine learning algorithms have been used to predict patient outcomes and identify potential treatments.

The report also notes that the use of AI in medical imaging, such as MRI and CT scans, is expected to be a major driver of growth in the market. AI-powered imaging can help doctors detect and diagnose diseases earlier, leading to better patient outcomes.

Key Research Findings:

• A.I. in health care will ensure timely and accurate measures in terms of Treatment and cure of rare diseases and also unknown diseases. This will also save time on unwanted factors and burden on the Management.

• I.C.M.R. has recently issued guidelines for Artificial Intelligence use in Health care. It has outlined 10 key patient-centric ethical principles for AI application in the health sector for all stakeholders involved which has increased interest and curiosity of the investors in the market.

• A.I. in the health sector involves factors like optimisation of Data quality, safety and security, risk minimisation etc.

• Artificial Intelligence will help increase life expectancy of patients with early detection and cure of diseases.

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Key Companies Profile in the Report:

• Intel Corporation
• Nvidia Corporation
• Google Inc.
• IBM Corporation Microsoft Corporation
• General Vision Inc.
• Enlitic Inc
• Next It Corp.
• Welltok Inc.
• Icarbonx
• Recursion Pharmaceuticals Inc.
• Koninklijke Philips N.V.
• General Electric (Ge) Company
• Siemens Healthineers (A Division Of Siemens Ag)
• Johnson & Johnson Services Inc.Medtronic Plc
• Stryker Corporation.
• Careskore
• Zephyr Health Inc.
• Oncora Medical
• Sentrian
• Bay Labs Inc.
• Atomwise
• Deep Genomics
• Cloudmedx Inc.

By Type:
• Natural Language Processing (Nlp)
• Context Aware Processing
• Deep Learning
• Querying Method

By Application:
• Patient Data And Risk Analysis
• Medical Imaging And Diagnostics
• Precision Medicine
• Drug Discovery
• Lifestyle Management & Monitoring

Latest Trends in Artificial Intelligence in the health Care Sector:

1. Narrowed Gap Between Telehealth and In-Person Visits - Artificial Intelligence has resulted in decline In-person visits by patients and contactless monitoring by A.I. Healthcare Systems.
2. Easier Medical Documentation - A.I. has resulted in easing the burden of Clinicians and augmenting the medical data of patients has become easier.
3. Optimised Healthcare Data Management - As Data and medical history of patients is important, optimising it is a difficult task to do. A.I. has made it possible to do so efficiently.
4. Improved Diagnostics - Diagnosis and prevention of potential diseases has become possible; this can help in active participation by patients in their own health care. Software for in-home Urine testing etc has become possible through A.I. which makes patients aware of their own health.
5. The Next Great Frontier: Precision Medicine - Major Trend which can be seen is precision medicine that involves customization of treatment for patients according to their medical history.

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Key Benefits of The Report:

• This study provides the analytical representation of the insights based on the Global Artificial Intelligence in Healthcare market along with the recent market trends as well as future predictions to determine the impending investment pockets.

• The report offers a detailed analyses of the major drivers, restraints, and opportunities along with a study of their in-depth impact on the Artificial Intelligence in Healthcare market.

• The current forecast of the Artificial Intelligence in Healthcare market is analysed quantitatively from 2020 to 2030 to target the financial competency.

• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the Artificial Intelligence in Healthcare market.

• The market size is determined to understand the profitable trends to gain a stronger foothold.

• The report provides the Artificial Intelligence in Healthcare Market trends and market share of key vendors.

Reasons to Purchase:

• Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies

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• Identify growth segments for investment

• Outperform competitors using forecast data and the drivers and trends shaping the market

• Understand customers based on the latest market research findings

• Benchmark performance against key competitors

• Utilise the relationships between key data sets for superior strategizing

• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.

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This release was published on openPR.