Artificial Intelligence in Healthcare Market

Artificial Intelligence in Healthcare Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report Till 2025

“The global artificial intelligence in healthcare market is anticipated to value USD 31.3 billion by 2025. It is anticipated to register a 41.5% CAGR over the forecasted period, 2019 to 2025.”

The global Artificial Intelligence in Healthcare Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview: The global artificial intelligence in healthcare market is anticipated to value USD 31.3 billion by 2025. It is anticipated to register a 41.5% CAGR over the forecasted period, 2019 to 2025. The increasing need to curb healthcare costs, rising prevalence of precision medicines, and the importa nce of big data across the healthcare sector are projected to propel the growth of the market.

Key Players:      

IBM Corporation Microsoft Intel Corporation NVIDIA Corporation Nuance Communications, Inc. DeepMind Technologies Limited

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Growth Drivers: Huge investments to conduct R& D activities are being undertaken by the key players operating across the healthcare domain. There has also been an exponential rise in the number of venture capital investments across the healthcare IT sector owing to their increasing demand.

Thus, the players operating in this market have started establishing partnerships for developing AI based solutions. Such initiatives are expected to open new avenues for the market growth of AI-based healthcare solutions. For example, GNS Healthcare had partnered with Alliance and Amgen in 2018 to perform clinical trials related to oncology. This partnership was aimed at gaining insights from the expedite response on metastatic CRC (Colorectal Cancer) patients.

There has been a significant rise in the number of AI-based healthcare IT startups for the last few years.

They are leveraging the AI-based models and tools to support the clinical decisions, predict the outcomes of the surgical procedures, and assist medical practitioners in the treatment based on the patient's medical history.

Application Outlook:        

Robot Assisted Surgery Virtual Assistants Administrative Workflow Assistants Connected Machines Diagnosis Fraud Detection Cybersecurity Dosage Error Reduction

Regional Outlook: North America held the dominant share across the global market in 2018. Increasing adoption of IT solutions across the healthcare sector and rapid technological advances across the AI sector undertaken by several organizations is expected to drive the market growth across this region. Moreover, favorable initiatives undertaken by governing authorities of the U.S. and Canada for promoting the usage of digital platforms across the life science sector is projected to propel the market growth.

The Asia Pacific is anticipated to witness the highest growth in the upcoming years. Surging healthcare IT infrastructure, rising adoption of advanced technologies, and an increase in the number of several AI startups is projected to augment the market growth across this region.

COVID-19 Impact Analysis: The artificial intelligence in healthcare market has been positively impacted due to the COVID -19 pandemic. A large number of the infected population require medical treatment either at home or at hospitals. Thus, several countries across the globe have started increasing their healthcare expenditure and are adopting several technological solutions for virus tracking. For instance, the ‘Arogya Setu’ mobile app prescribed by the Government of India provides information about the number of active patients in our vicinity. Moreover, the increasing need to perform preliminary trials of medicines, vaccines, and immunity boosters projected to propel the market growth over the post-pandemic period.

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