AI in Preventive Care Market 2024 [Latest Trends]: Analysis Future Opportunity and Demand Forecast Year 2030

The Latest Research Report on AI in Preventive Care Market 2024 outlines the key factors influencing the growth of this area in terms of the competitive and geographic environment. In addition, the research discusses the obstacles to market growth and provides information on unexplored prospects that will promote company progress in the 2024-2030 forecast period.

Major Major Players are:

Intel, Koninklijke Philips, Microsoft, IBM, Siemens Healthineers, Nvidia, Google, General Electric Company, Medtronic, Micron Technology, Amazon Web Services, Johnson & Johnson, General Vision, CloudmedX, Oncora Medical, Enlitic, Gauss Surgical, Qventus, Desktop Genetics, Cylance, Ginger.io, Pillo

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AI in Preventive Care Market Overview:

AI in Preventive Care Market Size (2024 - 2030)

The market size of AI in preventive care, valued at USD 10.36 billion in 2023, is poised to attain USD 161.14 billion by 2030, showcasing a robust CAGR of 48% during the forecast period. Several factors contribute to this growth, including the surge in extensive and intricate medical databases, a pressing need to curtail healthcare expenses, heightened computing capabilities coupled with reduced hardware costs, a rise in collaborations among diverse entities in the healthcare sector, and an increasing demand for enhanced healthcare services due to workforce-patient imbalances.

INDUSTRY OVERVIEW:

In the global healthcare sector, artificial intelligence (AI) has emerged as a transformative force. The substantial impact of AI-driven solutions has proven advantageous for both healthcare providers and recipients across the patient care continuum. The healthcare landscape has experienced unprecedented growth and transformation over the past decade, with AI integration playing a pivotal role. From addressing chronic ailments such as cancer to facilitating radiologic treatments and risk assessment, AI in healthcare offers myriad possibilities, leveraging cutting-edge technology to deliver more efficient solutions. In comparison to traditional analytical approaches and decision-making processes, AI holds significant advantages in the healthcare sector.

Within the broad spectrum of AI, encompassing machine learning, cloud computing, and deep learning algorithms, healthcare practitioners have gained valuable insights into diagnostics and care procedures, resulting in reduced treatment variations and more precise clinical outcomes. The ability of AI to mimic human cognition in interpreting and analyzing complex healthcare data has propelled significant advancements in the field. Essentially, the methodology relies on computer algorithms to make critical decisions without human intervention.

AI-based health applications strive to streamline and innovate treatment methodologies to yield accurate patient outcomes. Esteemed medical institutions, such as Memorial Sloan Kettering Cancer Center, the NHS in the United Kingdom, and the Mayo Clinic, have developed cutting-edge AI-powered algorithms and technologies. Disease diagnosis, medication discovery, formulation of treatment protocols, patient monitoring, and personalized medicine development represent areas where these technologies prove instrumental. Furthermore, prominent tech entities like Google, Apple, and IBM have ventured into the healthcare arena by creating AI algorithms.

COVID-19 IMPACT ON AI IN THE PREVENTIVE CARE MARKET:

The utilization of AI and ML solutions in the healthcare sector has historically fueled substantial growth in the AI in healthcare market. Artificial intelligence has emerged as a critical asset in global health crisis management, significantly enhancing disease detection, medication research, and efficient robot delivery. The onset of the COVID-19 pandemic provided an opportunity to showcase AI's capabilities in the healthcare industry. During the pandemic's second wave, healthcare facilities worldwide deployed AI-based automated systems, inpatient care bots, and AI-assisted surgery robots to manage the continuous influx of patients, preventing overwhelming disruptions to hospital operations.

MARKET DRIVERS:

AI in healthcare enhancing preventive care and quality of life through precise therapy and treatment plans is a key driver of market growth:

The expanding role of AI in healthcare as an indispensable tool for addressing epidemics and pandemics is evident in its ability to enhance preventive care, improve quality of life, enable accurate diagnosis and treatment strategies, and elevate overall patient outcomes. Integration of artificial intelligence holds the potential to enhance the accuracy of radiological instruments and, in specific instances, substitute the need for tissue samples, contributing to sustained market revenue growth. AI has the capability to address skills shortages by assuming diagnostic responsibilities traditionally carried out by humans.

AI streamlining and automating operations, as well as supporting research and development, are driving market growth:

AI facilitates the examination of vast datasets for more effective studies on infectious and rare diseases, aiding in the development of reliable diagnostic and treatment methods. The incorporation of AI into electronic health records (EHRs) to create intuitive interfaces and automate routine operations for time and cost savings is a significant driver expected to boost market revenue growth. AI also enhances the monitoring capabilities of medical devices in intensive care units, leading to improved patient outcomes and reduced healthcare costs. These factors are anticipated to contribute significantly to market revenue growth in the foreseeable future.

MARKET RESTRAINTS:

Apprehensions among medical professionals about adopting AI-based technology impede market growth:

Despite the rapid evolution of digital health and mobile health technology, healthcare practitioners may hesitate to embrace new technologies. While AI technology can assist doctors in diagnosing and treating patients more efficiently, medical professionals express concerns that human qualities such as empathy and persuasion are irreplaceable, and AI cannot substitute for a doctor. Additionally, there is a perceived risk that patients might overly rely on these technologies, potentially neglecting crucial in-person treatments and jeopardizing long-term doctor-patient relationships.

Concerns regarding data privacy pose a significant obstacle to the adoption of AI in the healthcare industry:

AI holds diverse applications in the medical field; however, concerns about data privacy limit its widespread use. Stringent federal regulations safeguarding patient health data in some nations necessitate adherence to data security procedures by AI-based technologies. The concentration and computational demands of most AI platforms, often requiring storage in vendor data centers, pose challenges to data security. If patient data is inadvertently exposed from these data centers, it could lead to substantial legal and financial repercussions. Consequently, these factors negatively impact the growth of the market.

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Market Segmentation are:

Segmented By Offering (Hardware, Software, Services); By Technology (Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision); By Application (Medical Administration and Support, Patient Management, Research & Development, Others); By End-User (Pharmaceutical Companies, Hospitals, Patients, Others)

AI in Preventive Care insights, overview and deep study of factors are considered to have greater influence over future course of the industry such as market size, market share, different dynamics of the industry, AI in Preventive Care market companies, regional analysis of the domestic markets, value chain analysis, consumption, demand, key application areas and more.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

How will this report benefit potential stakeholders?

-Comprehensive assessment of all opportunities and risks in the AI in Preventive Care market.
-The detailed study of business strategies for the growth of the AI in Preventive Care market-leading players.
-Conclusive study about the growth plot of the AI in Preventive Care market for forthcoming years.
-In-depth understanding of AI in Preventive Care market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the AI in Preventive Care market.

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What AI in Preventive Care Market report offers:

AI in Preventive Care Market share assessments for the regional and country-level segments
Market share analysis of the top industry players
AI in Preventive Care Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscape covering following points: Company Overview, Product Portfolio, Financial Performance, Recent Highlights, Strategies

COVID-19 has had a major impact on the world economy in addition to that on the public health. This particular pandemic had caused severe economic destruction and not a single country has been left unaffected. The virus has forced businesses around the globe to change the way they operate. This report gives an analysis of the COVID-19 aftermath on AI in Preventive Care market.

Competitive Rivalry:

The report highlights vital details based on the leading players in the global Industrial AI in Preventive Care market. It features their details such as product/business portfolio, market share, financial status, regional share, segment revenue, SWOT analysis, manufacturing base, capacities, production volume, major vendors, raw material sourcing strategies, organizational structure. Their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotions are other facts about the market players included in the report.

We also offer customization on reports based on specific client requirement:

1- country-level analysis for any 5 countries of your choice.

2- Competitive analysis of any market players.

3- 40 analyst hours to cover any other data points

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Finally, AI in Preventive Care Market is a valuable source of guidance for individuals and companies in decision framework.

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Cognate Lifesciences is a specialized hub for all market research reports related to Lifesciences Market. Some of the sub domains covered by our team are Pharmaceuticals, Medical Devices and Supplies, Healthcare, Diagnostics, Biotech, Therapeutics, Healthcare IT etc. We offer syndicated/customized market research studies along with advisory and consulting services.

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