AI in Healthcare Market Share, Industry Analysis & Forecast Report 2024-2029.

According to the latest research report published by Market Data Forecast, the global AI in the healthcare market is expected to register a whopping CAGR of 49.8% from 2024 to 2029, and the global market size is anticipated to be valued at USD 125.31 billion by 2029, from USD 16.61 billion in 2024.

Artificial intelligence (AI) has revolutionized healthcare by designing treatment plans, helping with repetitive tasks, managing medications, and discovering medications. It can also be used effectively for health data management through data collection, storage, and standardization. Each year, massive amounts of data are generated in the healthcare sector, and the ever-growing volume of big data has created the need to adopt artificial intelligence technology to manage data effectively. Recently, Google's artificial intelligence research division launched its Google DeepMind Health project to extract data from medical records to provide better and faster health services.

Global AI in Healthcare Market Report Scope:
• Market Size (2029): USD 125.31 Billion
• Market Size (2024): USD 16.61 Billion
• CAGR (2024 to 2029): 49.8%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: By Offering, Algorithm, Application, End-User and Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., Next IT Corporation, iCarbonX. The other players in the value chain are Shimadzu Recursion Pharmaceuticals, Inc., Siemens Healthineers, General Electric (GE) Company, Koninklijke Philips N.V., Cloudmedx, Inc., Bay Labs, Inc., and others.

Market Drivers:

COVID-19 exposed the shortcomings in the healthcare industry which is one of the primary reasons for the market growth. So, to deal with such problems several medical companies and national governments adopted digital services and products. This could be clearer from the fact that hardly any machine learning-based equipment, systems or software were made to address the global pandemic.
Another factor propelling the AI in healthcare market is the rising investments in higher-value application areas. The big language models hold tremendous ability to transform the industry apart from dealing with the problems. Also, it can enhance the connectivity between patients and physicians, increase care quality and lower costs.
Recently in 2024, Google forecasted that gen AI will shift towards actual usage scenarios from the trial and testing phase. It particularly emphasized clinicians' easy information search, minimising administrative load, supporting medical call center representatives and efficient organizational functioning.

Market Restraints:

The growth of the AI in healthcare market is hindered by hesitation among medical doctors, physicians and clinicians to accept artificial intelligence-driven technologies. Still, some have multiple perceptions that it will replace them in their jobs, doubting its reliability and worry over inclusion into established practices. To counter this, considerable investment is needed to drive awareness and education campaigns and training of healthcare professionals. Moreover, this also requires the solid partnership between medical establishments and technology developers and targeted efforts that highlight learning. Therefore, all these initiatives are important for raising the adoption and cognition, helping them achieve AI and ML's full capacity in this industry like better diagnosis, enhanced treatment schedules and excellent patient results.
In addition, the absence of organized medical aid data is further derailing the AI in healthcare market. This unavailability curbs its performance and causes wrong projections and major patient harm. The problem gets worse due to cyberattacks, malware and fishing attacks, weak privacy and lack of proficiency. For example, WHO issued directions in November 2023 stating the important legal framework for using AI in the healthcare.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/artificial-intelligence-in-healthcare-market

Key Insights from The Report:
•Based on Offering, the Software segment led the market and accounted for a large share of the global market in 2023.
•Based on Algorithm, the deep learning segment captured the largest share of the global market in 2023.
•Based on Application, clinical trials segment is anticipated to dominate the market during the forecast period in 2023.
•Based on the End-User, the healthcare providers segment is predicted to dominate the market during the forecast period.
•North America dominated the AI in healthcare market in 2023. Asia-Pacific accounted for the second-highest share of the global market in 2023, and the European region is estimated to grow over the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Offering
•Hardware
•Software
•Services

By Algorithm
•Deep Learning
•Query Method
•Natural Language Processing
•Contextual Processing

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

By End-User
•Healthcare Providers
•Pharmaceutical & Biotechnology
•Patient and Payer

By Region:
•North America
•Europe
•Asia-Pacific
•Middle East & Africa
•Latin America

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Artificial Intelligence in Healthcare Market, By Offering
6.1.1 Hardware
6.1.2 Software
6.1.3 Services
6.1.4 Market Size Estimations & Forecasts (2024 to 2029)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Artificial Intelligence in Healthcare Market, By Algorithm
6.2.1 Deep Learning
6.2.2 Querying Method
6.2.3 Natural Language Processing
6.2.4 Context Aware Processing
6.2.5 Market Size Estimations & Forecasts (2024 to 2029)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
6.3 Artificial Intelligence in Healthcare Market, By Application
6.3.1 Robot-Assisted Surgery
6.3.2 Virtual Nursing Assistant
6.3.3 Administrative Workflow Assistance
6.3.4 Fraud Detection
6.3.5 Dosage Error Reduction
6.3.6 Clinical Trial Participant Identifier
6.3.7 Preliminary Diagnosis
6.3.8 Market Size Estimations & Forecasts (2024 to 2029)
6.3.9 Y-o-Y Growth Rate Analysis
6.3.10 Market Attractiveness Index
6.4 Artificial Intelligence in Healthcare Market, By End-User
6.4.1 Healthcare Provider
6.4.2 Pharmaceutical & Biotechnology
6.4.3 Patient
6.4.4 Payer
6.4.5 Market Size Estimations & Forecasts (2024 to 2029)
6.4.6 Y-o-Y Growth Rate Analysis
6.4.7 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Artificial Intelligence in Healthcare Market, by Region
7.2 North America - Market Analysis (2024 to 2029)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Offering
7.2.3 By Algorithm
7.2.4 By Application
7.2.5 By End-User
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Offering
7.3.3 By Algorithm
7.3.4 By Application
7.3.5 By End-User
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Offering
7.4.3 By Algorithm
7.4.4 By Application
7.4.5 By End-User
7.5 Latin America
7.5.1 By Country
7.5.1.1 brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Offering
7.5.3 By Algorithm
7.5.4 By Application
7.5.5 By End-User
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Offering
7.6.3 By Algorithm
7.6.4 By Application
7.6.5 By End-User

8. Key Player Analysis
8.1 Welltok, Inc
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Intel Corporation
8.3 Nvidia Corporation
8.4 Google Inc
8.5 IBM Corporation
8.6 Microsoft Corporation
8.7 General Vision, Inc.
8.8 Enlitic, Inc
8.9 Next IT Corporation
8.10 iCarbonX

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

ABOUT US:
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

MarketDataForecast
www.marketdataforecast.com
Phone: +1-888-702-9626
Email: sales@marketdataforecast.com
3rd Floor, Trendz Park Building, Jain Rock Garden Rd, Vittal Rao Nagar, Madhapur, Hyderabad, Telangana, India.

This release was published on openPR.