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IMARC Group, a leading market research company, has recently releases report titled, “Artificial Intelligence in Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global artificial intelligence in healthcare market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

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Report Highlights:

How big is the artificial intelligence in healthcare market?

Report AttributesDetails
Market Size in 2022US$ 4.6 Billion
Market Forecast in 2028US$ 23.9 Billion
Growth rate (2023 to 2028)CAGR of 29.8%
Base Year of the Analysis2022
Forecast Period2023-2028

What is artificial intelligence in healthcare?

Artificial intelligence (AI) is the term used to describe how computer systems simulate human intellect functions including problem-solving and decision-making. It is affordable, enhances client satisfaction, and effectively resolves challenging issues. It includes computer vision, deep learning, speech recognition, natural language processing, and expert systems. It uses cognitive abilities including learning, reasoning, and self-correction to gather information and produce instructions for carrying out a particular activity. In comparison to people, it provides more accurate predictions, speeds up data collection, and decreases the amount of time needed for data-intensive operations. By allowing multitasking, it reduces workload and speeds up decision-making. It also works continuously. AI assists businesses in performing and handling repetitive tasks while minimizing errors. It assesses digital assistance, such as chatbot support, which allows organizations to interact with users without any involvement of human beings. It is used to predict weather conditions, enhance a global positioning system (GPS) for trips and long drives, and provide suggestions and correct spelling errors while typing. It is also employed in cybersecurity, image recognition, speech recognition and natural language processing (NLP), ride-sharing services and self-driving cars, and autopilot technology. At present, there is a rise in the application of AI in the healthcare industry due to the growing prevalence of chronic diseases, such as heart attacks, stroke, and diabetes, around the world.

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What are the growth prospects and trends in the artificial intelligence in healthcare industry?

One of the key drivers propelling the market is the growing use of AI in the healthcare sector to study the relationship between treatment methods and patient outcomes. In addition, the market is expanding because to the increasing use of AI in the healthcare industry for drug discovery, treatment regimens, and medication management. Additionally, AI is increasingly being used in medical procedures worldwide, including diagnostic procedures, medication research, personalised medicines, and patient monitoring care. This, coupled with the growing need to minimize medical expenses and enhance patient care, is offering a positive market outlook. Apart from this, the rising employment of AI in the healthcare sector to predict diseases quickly and accurately in the early stage based on historical health datasets is contributing to the market growth. Moreover, the increasing number of AI-based virtual assistants to assist e-consultation, track patient health, and send medication alerts is positively influencing the market. Furthermore, the escalating demand for AI-based patient flow automation systems and intensive care unit (ICU) capacity creation in healthcare facilities is bolstering the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Offering:

  • Hardware
  • Software
  • Services

Breakup by Technology:

  • Machine Learning
  • Context-Aware Computing
  • Natural Language Processing
  • Others

Breakup by Application:

  • Robot-Assisted Surgery
  • Virtual Nursing Assistant
  • Administrative Workflow Assistance
  • Fraud Detection
  • Dosage Error Reduction
  • Clinical Trial Participant Identifier
  • Preliminary Diagnosis
  • Others

Breakup by End-User:

  • Healthcare Providers
  • Pharmaceutical and Biotechnology Companies
  • Patients
  • Others

Breakup by Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Amazon Web Services Inc.
  • Cloudmedx Inc.
  • DeepMind
  • Enlitic Inc.
  • General Vision Inc.
  • Google Inc.
  • International Business Machines
  • iCarbonX
  • Intel Corporation
  • Medtronic
  • Micron Technology Inc.
  • Microsoft Corporation
  • Next It Corporation
  • Nuance Communications Inc.
  • Nvidia Corporation
  • Siemens Healthcare
  • Welltok Inc.

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If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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