Artificial Intelligence in Healthcare Market worth $137.74 billion by 2030, growing at a CAGR of 26.95% - Exclusive Report by 360iResearch

The "Artificial Intelligence in Healthcare Market by Technology (Computer Vision, Context-Aware Computing, Machine Learning), Offering (Hardware, Services, Software), Application, End User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Artificial Intelligence in Healthcare Market to grow from USD 25.91 billion in 2023 to USD 137.74 billion by 2030, at a CAGR of 26.95%.

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Artificial intelligence (AI) in healthcare represents a collection of multiple technologies enabling machines to sense, comprehend, act, and learn so that they can perform administrative and clinical healthcare functions. It includes algorithms and models that are capable of processing medical data, predicting outcomes, aiding in precision medicine, and personalizing patient care. Major factors driving the expansion of AI in healthcare are the massive growth of healthcare data, the need to reduce escalating healthcare costs, advancements in computing power, and the improvement in AI algorithms. These factors contribute to enhancing the efficiency of treatments, drug discovery, and patient care management. However, data security concerns, the risk of privacy breaches, and the requirement for substantial investment in AI infrastructure impede their wide deployment. To address these issues, robust cybersecurity measures, transparent governance of AI algorithms, ongoing staff training, and the ethical design of AI systems are essential. The market is expected to witness significant growth by leveraging AI for telemedicine advancements, predictive analytics, the development of personalized treatment plans, and the integration of AI with emerging technologies such as genomics and the Internet of Medical Things (IoMT).

Technology: Exponential adoption of machine learning patterns for drug discovery and personalized treatment recommendations

Computer vision technology allows machines to interpret and actionize visual data. Within healthcare, this means algorithms can analyze medical imaging data such as X-rays, MRIs, and CT scans for diagnostic purposes. Context-aware computing refers to AI systems that take into account the context of data, such as user behavior or environmental conditions, to offer more personalized and relevant interactions. The necessity of context-aware computing lies in its potential to create responsive and adaptive healthcare environments, optimizing patient care through real-time adjustments and alerts. This personalization is increasingly required in complex cases and intensive care scenarios. Machine learning (ML) is the backbone of many AI applications in healthcare. It encompasses algorithms that learn from data to make predictions and decisions. Natural language processing (NLP) in healthcare helps in understanding, interpreting, and generating human language. In healthcare, NLP facilitates the analysis of unstructured data such as clinical notes and research reports. Querying methods in AI refer to the techniques used to extract information from databases through natural language queries.

End-User: Increasing utilization of AI for AI for drug discovery and research

Healthcare payers, including insurance companies and government payers, have a vested interest in leveraging AI to optimize their operations, minimize fraudulent claims, and engage in preventive health measures to reduce costs. Payers prioritize AI solutions that can enhance risk assessment, improve customer service, and help in early disease prediction to control costs. Hospitals and healthcare providers seek AI applications to enhance clinical outcomes, improve patient care, and streamline operations. These entities prioritize AI solutions that aid in diagnostics, patient flow optimization, and personalized treatment plans. Patients are increasingly becoming direct consumers of AI in healthcare, with a focus on personal health management and wellness. Patients look for AI tools that provide personalized insights, remote monitoring, and improved access to medical information and support. Pharmaceutical and biotech companies employ AI to expedite drug discovery, enhance drug development processes, and create more efficient production strategies. These firms seek AI tools that can reduce the time and cost of R&D, manage clinical trials effectively, and support decision-making in precision medicine.

Regional Insights:

In the Americas, especially the United States, there is a booming market for AI in healthcare, driven by heavy investments in technology, a vibrant startup ecosystem, and policy initiatives encouraging digital health innovation. The U.S. is a pioneer in AI-driven diagnostics, remote monitoring, and personalized medicine, with tech giants and specialized AI healthcare companies pushing advancements. The APAC region, led by countries such as China and Japan, is rapidly embracing AI, with significant government backing for healthcare technology innovation. The focus on use tends toward large-scale population health initiatives and disease pattern analysis, given the vast population and the drive towards improving healthcare accessibility. Production is increasingly robust in APAC, with a surge in homegrown startups and expanded R&D centers from global companies. Europe leads in regulatory frameworks with GDPR impacting AI deployment, whereas the Middle East shows considerable growth potential with smart hospitals and AI-powered health tools. Africa is still in the early adoption stages, but it shows potential in mobile health AI applications that address infectious diseases and access to medical services. Companies in EMEA are focused on compliance and ethical AI development, with some leading enterprises offering advanced AI-based imaging and health analytics solutions.

Market Segmentation & Coverage:

This research report categorizes the Artificial Intelligence in Healthcare Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Technology, market is studied across Computer Vision, Context-Aware Computing, Machine Learning, Natural Language Processing, and Querying Method. The Querying Method is projected to witness significant market share during forecast period.

Based on Offering, market is studied across Hardware, Services, and Software. The Hardware is further studied across Memory, Network, and Processor. The Processor is further studied across Application-Specific Integrated Circuit, Field Programmable Gate Arrays, Graphics Processing Unit, and Memory Protection Unit. The Services is further studied across Deployment & Integration and Support & Maintenance. The Hardware is projected to witness significant market share during forecast period.

Based on Application, market is studied across Clinical Trial Participant Identifier, Cybersecurity, Drug Discovery, Emergency Room & Robot-Assisted Surgery, Fraud Detection, Healthcare Assistance Robots, Inpatient Care & Hospital Management, Lifestyle Management & Monitoring, Medical Imaging & Diagnostics, Patient Data & Risk Analysis, Precision Medicine, Research, Virtual Assistant, and Wearables. The Research is projected to witness significant market share during forecast period.

Based on End User, market is studied across Healthcare Payers, Hospitals & Providers, Patients, and Pharmaceutical & Biotechnology Companies. The Pharmaceutical & Biotechnology Companies is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.23% in 2023, followed by Americas.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Artificial Intelligence in Healthcare Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Artificial Intelligence in Healthcare Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Artificial Intelligence in Healthcare Market, highlighting leading vendors and their innovative profiles. These include Ada Health GmbH, AiCure, LLC, AllStripes Research Inc., Aspen Technology Inc. by Emerson Electric Co., Atomwise Inc., Augmedix, Inc., Babylon Healthcare Services Ltd., Behold.ai Technologies Limited, Binah.ai, BioSymetrics Inc., BPGbio Inc., Butterfly Network, Inc., Clarius Mobile Health Corp., Clinithink Limited, ClosedLoop.ai Inc., Corti ApS, Cyrcardia Asia Limited, Datature.io, Deep Genomics Incorporated, Diabeloop SA, Enlitic, Inc., GE Healthcare, General Vision Inc., Google, LLC by Alphabet, Inc., iCarbonX, Intel Corporation, International Business Machines Corporation, Koninklijke Philips N.V., Medasense Biometrics Ltd., Microsoft Corporation, Modernizing Medicine, Inc., Nanox Imaging Ltd., NetBase Quid, Inc., Novo Nordisk A/S, NVIDIA Corporation, Oncora Medical, Oracle Corporation, Owkin, Inc., Oxipit.ai, R1 RCM, Inc., Recursion Pharmaceuticals, Sanofi SA, Sensely, Inc., Shanghai Yitu Technology Co., Ltd., Siemens Healthineers AG, SkinvVision B.V., Subtle Medical, Inc., Tempus Labs, Inc., Turbine Ltd., and Woebot Health.

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Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Artificial Intelligence in Healthcare Market, by Technology
7. Artificial Intelligence in Healthcare Market, by Offering
8. Artificial Intelligence in Healthcare Market, by Application
9. Artificial Intelligence in Healthcare Market, by End User
10. Americas Artificial Intelligence in Healthcare Market
11. Asia-Pacific Artificial Intelligence in Healthcare Market
12. Europe, Middle East & Africa Artificial Intelligence in Healthcare Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Artificial Intelligence in Healthcare Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Artificial Intelligence in Healthcare Market?
3. What is the competitive strategic window for opportunities in the Artificial Intelligence in Healthcare Market?
4. What are the technology trends and regulatory frameworks in the Artificial Intelligence in Healthcare Market?
5. What is the market share of the leading vendors in the Artificial Intelligence in Healthcare Market?
6. What modes and strategic moves are considered suitable for entering the Artificial Intelligence in Healthcare Market?

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