Press release
Artificial Intelligence in Healthcare Market is Expected to Reach $187.70 by 2031 - Intel Corporation, Koninklijke Philips N.V., Microsoft, Siemens Healthcare GmbH
Artificial Intelligence in Healthcare Market || 2024-2031
The Artificial Intelligence in Healthcare Market refers to the sector involved in the application of AI technologies to healthcare settings. This includes the use of machine learning, natural language processing, and other AI techniques to improve medical diagnostics, personalized treatment plans, patient management, and operational efficiencies in healthcare facilities. The market encompasses AI-driven tools and solutions for various functions such as medical imaging, drug discovery, predictive analytics, and patient care management.
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Market Dynamics:
Growing demand for advanced technologies that can improve patient results and simplify hospital processes drives the growth of the market
The global artificial intelligence in healthcare market is experiencing rapid expansion, driven by increased research and development efforts in response to the rising prevalence of chronic diseases. AI technologies can process data-such as clinical research, medical records, and genetic information-more efficiently than humans, aiding in diagnosis and treatment. AI also automates repetitive tasks like data entry, record keeping, and scan processing, enabling healthcare professionals to make well-informed decisions based on accurate information. This leads to time savings, cost reductions, and improved management of medical records. Additionally, government policies and regulations supporting AI in healthcare are further fueling market growth, with numerous key players advancing these technologies to enhance patient care.
Segment Covered in the Artificial Intelligence in Healthcare Market:
By Product Type: Hardware, Software, Services
By Technology: Speech recognition, Natural language processing, Machine learning, Disaster recovery, Others
By Application: Imaging & diagnostics, Drug discovery, Precision medicine, Hospital management, Insights & risk analytics, Wearables, Virtual assistants, Healthcare assistant robots, Others
By End-User: Hospitals, Pharmaceutical Company, Diagnostic Centers, Others
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Major Key players involved in Artificial Intelligence in Healthcare Market:
• Intel Corporation
• Koninklijke Philips N.V.
• Microsoft
• Siemens Healthcare GmbH
• NVIDIA Corporation
• Merative (Francisco Partners)
• GE Healthcare
• Medtronic
• Google (Alphabet Inc)
• Arterys Inc.(Tempus)
Key Developments:
On February 1, 2023, Microsoft announced a partnership with Vietnamese tech firm VinBrain to advance AI-driven healthcare services. The collaboration will focus on cross-product validation, data sharing, and joint research and development in healthcare AI.
On November 23, 2021, Royal Philips and U.S.-based MedChat formed a partnership to enhance contact center efficiency and improve response times to patient inquiries. MedChat's live chat and AI-driven chatbot services will be integrated into Philips Patient Navigation Manager, enabling North American customers to create automated communication processes that complement existing call center and patient access operations.
On January 11, 2021, Verily, Microsoft Corp., and the Broad Institute of MIT and Harvard announced a partnership to accelerate biomedical innovations using the Terra platform. Terra, an open-source platform developed by Verily and the Broad Institute, provides biomedical researchers with tools for data access, analysis, and collaboration. Thousands of researchers use Terra each month to analyze data from large-scale scientific research projects.
Regional Analysis:
The global Artificial Intelligence in Healthcare Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
The Artificial Intelligence in Healthcare Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Transradial Access Devices Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.
Related Report:
Artificial Intelligence in Energy Market: https://datamintelligence.com/research-report/artificial-intelligence-in-energy-market
Artificial Intelligence in Manufacturing and Supply Chain Market: https://datamintelligence.com/research-report/artificial-intelligence-in-manufacturing-and-supply-chain-market
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