The Artificial Intelligence (AI) in the healthcare market was valued at USD 4,836.87 Million in 2019 and is projected to reach USD 99,491.58 Million by 2027, registering a CAGR of 42.8% from 2020 to 2027.
Artificial intelligence assists the machines to perform any task without human interventions. It uses different algorithms and software that help the machine to inculcate perception and reasoning for various situations. AI is widely applicable in the healthcare sector for various purposes such as drug discovery and precision medicine. In addition, it is used to analyze a patient's medical data, to predict disease onset, and personalize treatment provided to the patient.
The AI in healthcare market is segmented based on offering, technology, application, end user, and geography. On the basis of offering, the market is divided into hardware, software, and services. By technology, it is classified into deep learning, querying method, natural language processing, and context aware processing. Applications covered in the study include robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and others. According to end users, the market is categorized into healthcare provider, pharmaceutical & biotechnology company, patient, and payer Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market growth is driven by rise in the adoption rate of AI systems and delete technological advancements in the AI field. In addition, the ability of these systems to improve patient outcomes, increase in adoption of precision medicine, and increase the need for coordination between healthcare workforce & patients are expected to fuel the market growth. However, lack of standard regulations and guidelines and reluctance among healthcare professionals to adopt AI-based technologies are expected to hinder the market growth.
KEY BENEFITS FOR STAKEHOLDERS
KEY PLAYERS
KEY MARKET SEGMENTS
By Offering
By Technology
By Application
By End User
By Geography
The other players of the artificial intelligence in healthcare market include (companies not profiled in the report):
The Artificial Intelligence (AI) in the healthcare market was valued at USD 4,836.87 Million in 2019 and is projected to reach USD 99,491.58 Million by 2027, registering a CAGR of 42.8% from 2020 to 2027.
Artificial intelligence assists the machines to perform any task without human interventions. It uses different algorithms and software that help the machine to inculcate perception and reasoning for various situations. AI is widely applicable in the healthcare sector for various purposes such as drug discovery and precision medicine. In addition, it is used to analyze a patient's medical data, to predict disease onset, and personalize treatment provided to the patient.
The AI in healthcare market is segmented based on offering, technology, application, end user, and geography. On the basis of offering, the market is divided into hardware, software, and services. By technology, it is classified into deep learning, querying method, natural language processing, and context aware processing. Applications covered in the study include robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and others. According to end users, the market is categorized into healthcare provider, pharmaceutical & biotechnology company, patient, and payer Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market growth is driven by rise in the adoption rate of AI systems and delete technological advancements in the AI field. In addition, the ability of these systems to improve patient outcomes, increase in adoption of precision medicine, and increase the need for coordination between healthcare workforce & patients are expected to fuel the market growth. However, lack of standard regulations and guidelines and reluctance among healthcare professionals to adopt AI-based technologies are expected to hinder the market growth.
KEY BENEFITS FOR STAKEHOLDERS
KEY PLAYERS
KEY MARKET SEGMENTS
By Offering
By Technology
By Application
By End User
By Geography
The other players of the artificial intelligence in healthcare market include (companies not profiled in the report):