Artificial Intelligence in Healthcare Market

Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-Aware Computing, Computer Vision), End-Use Application, End User, and Geography – Global Forecast to 2025

Report Code: SE 5225 Dec, 2018, by marketsandmarkets.com

[216 Pages Report] The AI in healthcare market is expected to grow from USD 2.1 billion in 2018 to USD 36.1 billion by 2025, at a CAGR of 50.2% during the forecast period. The huge availability of big data, growing number of cross-industry partnerships and collaborations is fueling the growth of the AI market. In addition, demand to reduce the imbalance between healthcare workforce and patients is further supplementing the growth of the AI in healthcare market.


Artificial Intelligence in Healthcare Market

Processor to hold largest market in hardware segment

Increasing need for hardware platforms with high computing power to run various AI software is the key factor accelerating the growth for hardware devices in the AI in healthcare market. Demand for high-computing processors to run AI algorithms continues to surge its growth in the hardware segment. The processor segment consists of MPUs, GPUs, FPGAs, and ASICs. In processors, GPUs are expected to foresee strong growth owing to high parallel computing capabilities, and the same is expected to continue in the coming years.

Context-aware computing to witness higher growth during forecast period

The development of more sophisticated hard and soft sensors has accelerated the growth of context-aware processing. Increased processing power, innovative sensing capabilities, and improved connectivity have resulted in the growth of context-aware processing systems. A few core healthcare applications include lifestyle management and monitoring, in-patient care and hospital management, and virtual assistant.

In-patient care & hospital management to hold significant market size in AI in healthcare market

AI in planning and scheduling methods can offer substantial support to the management of hospitals and patient care, thereby improving administrative workflow assistance. AI-enabled bots is an AI application that patients can interact with through a chat window on a website or through a telephone. Applications such as scheduling appointments; checking insurance coverage parameters; instantly accessing information about drug interactions and side effects; collecting the latest information about patient medications, care team, and recent procedures; designing special diet plans for patients with dietary restrictions; and engaging with discharged patients to follow up on treatment plans and adherence are supported by these bots. These applications are expected to lead the growth of in-patient care and hospital management systems.


Artificial Intelligence in Healthcare Market

North America to account for significant share followed by APAC in AI in healthcare market during forecast period

North America, being a developed and technologically advanced region, is likely to be one of the key contributors to the overall AI in healthcare market growth during the forecast period. Moreover, high spending of GDP in healthcare, especially in the US and Canada, is likely to supplement the growth of next-gen technologies such as AI in the region. APAC is likely to closely pursuit the growth of North America and is expected to register the second-fastest growth rate. Improving IT infrastructure, demand for affordable healthcare, and favorable government norms are expected to boost the growth of healthcare AI in the region.

Key Market Players

A few companies in the AI in healthcare market are NVIDIA (US), Intel (US), IBM (US), Google (US), Microsoft (US), AWS (US), General Vision (US), GE Healthcare (US), Siemens Healthineers (Germany), Medtronic (US). The market has active participation of start-ups. A few emerging start-ups in the market are CloudMedx (US), Imagia Cybernetics (Canada), Precision Health AI (US), and Cloud  Pharmaceuticals (US).

IBM is among the leading companies in the AI in healthcare market. The company’s Watson is widely used by end users for cognitive computing and data-driven applications. IBM follows organic as well as inorganic growth strategies to improve its position in AI in healthcare and other emerging AI markets. The company has invested ~USD 6 billion to make 15 acquisitions in cognitive, cloud, and security businesses. Also, partnerships/collaborations with AI solution providers/consumers remain the important aspects of the company’s strategy to enhance its footprint in the AI market. The company continues to strengthen its position through strategic organic investments and acquisitions in higher value areas, broadening its industry expertise and integrating AI into more of what the company offers. Moreover, the company focuses on developing core AI products, especially for enterprises and large businesses-e.g., the launch of Power Systems Servers to deliver AI services for enterprises in December 2017.

Recent Developments

  • In June 2018, Medtronic and its strategic technology partner, IBM (US) Watson Health, announced the commercial launch of Sugar.IQ smart diabetes assistant, a first-of-its-kind intelligent app designed to simplify and improve daily diabetes management. The Sugar.IQ smart diabetes assistant leverages AI and analytic technologies from IBM Watson Health to continually analyze how an individual's glucose level responds to food intake, insulin dosages, daily routines, and other factors, such as information provided by the app user.
  • In July 2018, Micron and Intel announced an update to their 3D XPoint joint development partnership, which has resulted in the development of an entirely new class of nonvolatile memory with dramatically lower latency and exponentially greater endurance than NAND memory. The companies have agreed to complete joint development for the second generation of 3D XPoint technology, which is expected to occur in the first half of 2019. The 2 companies will continue to manufacture memory based on 3D XPoint technology at the Intel-Micron Flash Technologies (IMFT) facility in Lehi, Utah.
  • In July 2018, ResMed (US), a global leader in sleep apnea treatment and connected health solutions, and Verily announced their agreement to form a new joint venture. Combining ResMed’s expertise in sleep apnea and Verily’s advanced health data analytics technologies, the US-based joint venture will study the health and financial impacts of undiagnosed and untreated sleep apnea, and develop software solutions that enable healthcare providers to more efficiently identify, diagnose, treat, and manage individuals with sleep apnea and other breathing-related sleep disorders.

Key questions addressed in the report

  • Which are the major applications of AI in healthcare market? How big is the opportunity for their growth in the developing economies in the next 5 years?
  • Which are the major companies in the AI in healthcare market? What are their major strategies to strengthen their market presence?
  • Which AI technology will find its major application in healthcare?
  • Which are the leading countries in the AI in healthcare market? What would be the share of North America and Europe in this market in the next 5 years?
  • What will be the role of the standards and regulations by governments and associations in the adoption of AI in healthcare?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 20)
    1.1 Study Objectives
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary and Primary Research
                    2.1.1.1 Key Industry Insights
           2.1.2 Secondary Data
                    2.1.2.1 List of Major Secondary Sources
                    2.1.2.2 Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Primary Interviews With Experts
                    2.1.3.2 Breakdown of Primaries
                    2.1.3.3 Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 33)

4 Premium Insights (Page No. - 40)
    4.1 Attractive Opportunities in AI in Healthcare Market
    4.2 AI in Healthcare Market, By Offering
    4.3 AI in Healthcare Market, By Technology
    4.4 Europe: AI in Healthcare Market, By End User and Country
    4.5 AI in Healthcare Market, By Country

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasingly Large and Complex Data Set
                    5.2.1.2 Growing Demand to Reduce Healthcare Costs
                    5.2.1.3 Improving Computing Power and Declining Hardware Cost
                    5.2.1.4 Growing Number of Cross-Industry Partnerships and Collaborations
                    5.2.1.5 Rising Need for Improvised Healthcare Services Due to Imbalance Between Health Workforce and Patients
           5.2.2 Restraints
                    5.2.2.1 Reluctance Among Medical Practitioners to Adopt AI-Based Technologies
                    5.2.2.2 Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software
           5.2.3 Opportunities
                    5.2.3.1 Growing Potential of AI-Based Tools for Elderly Care
                    5.2.3.2 Increasing Focus on Developing Human-Aware AI Systems
           5.2.4 Challenges
                    5.2.4.1 Lack of Curated Healthcare Data
                    5.2.4.2 Concerns Regarding Data Privacy
                    5.2.4.3 Lack of Interoperability Between AI Solutions Offered By Different Vendors
    5.3 Value Chain Analysis
    5.4 Case Studies
           5.4.1 Mayo Clinic’s Centre for Individualized Medicine Collaborated With Tempus to Personalize Cancer Treatment
           5.4.2 Microsoft Collaborated With Cleveland Clinic to Identify Potential At-Risk Patients Under Icu Care
           5.4.3 Nvidia and Massachusetts General Hospital Partnered to Use Artificial Intelligence for Advanced Radiology, Pathology, & Genomics
           5.4.4 Microsoft Partnered With Weil Cornell Medicine to Develop AI-Powered Chatbot
           5.4.5 Partners Healthcare and Ge Healthcare Entered Into 10-Year Collaboration for Integrating AI Across Continuum of Care

6 Artificial Intelligence in Healthcare Market, By Offering (Page No. - 58)
    6.1 Introduction
    6.2 Hardware
           6.2.1 Processor
                    6.2.1.1 MPU
                    6.2.1.2 GPU
                    6.2.1.3 FPGA
                    6.2.1.4 ASIC
           6.2.2 Memory
                    6.2.2.1 High-Bandwidth Memory is Being Developed and Deployed for AI Applications, Independent of ITs Computing Architecture
           6.2.3 Network
                    6.2.3.1 Nvidia (US), Intel (US) and Mellanox Technologies (Israel) are the Key Providers of Network Interconnect Adapters for AI Applications
    6.3 Software
           6.3.1 AI Solutions
                    6.3.1.1 On-Premises
                               6.3.1.1.1 Data-Sensitive Enterprises Prefer On-Premises’ Advanced NLP and ML Tools to Be Used in AI Solutions
                    6.3.1.2 Cloud
                               6.3.1.2.1 The Cloud Provides Additional Flexibility for Business Operations and Real-Time Deployment Ease to Companies That are Implementing Real-Time Analytics
           6.3.2 AI Platform
                    6.3.2.1 Machine Learning Framework
                               6.3.2.1.1 Major Tech Companies Such as Google, IBM, Microsoft are Developing and Offering Their Own ML Frameworks
                    6.3.2.2 Application Program Interface (API)
                               6.3.2.2.1 APIs are Used When Programming Graphical User Interface (GUI) Components
    6.4 Services
           6.4.1 Deployment & Integration
                    6.4.1.1 Need for Deployment and Integration Services for AI Hardware and Software Solutions is Supplementing the Growth of Services
           6.4.2 Support & Maintenance
                    6.4.2.1 The Ultimate Objective of Maintenance Services is to Keep the System at an Acceptable Standard

7 Artificial Intelligence in Healthcare Market, By Technology (Page No. - 71)
    7.1 Introduction
    7.2 Machine Learning
           7.2.1 Deep Learning
                    7.2.1.1 Deep Learning Enables A Machine to Build A Hierarchical Representation.
           7.2.2 Supervised Learning
                    7.2.2.1 Classification and Regression are Major Segmentation of Supervised Learning
           7.2.3 Reinforcement Learning
                    7.2.3.1 Reinforcement Learning Allows Systems and Software to Determine Ideal Behaviour for Maximizing Performance of the Systems
           7.2.4 Unsupervised Learning
                    7.2.4.1 Unsupervised Learning Include Clustering Methods Consisting of Algorithms With Unlabelled Training Data
           7.2.5 Others
    7.3 Natural Language Processing
           7.3.1 NLP is Widely Used By the Clinical and Research Community in Healthcare
    7.4 Context-Aware Computing
           7.4.1 Development of More Sophisticated Hard and Soft Sensors has Accelerated the Growth of Context-Aware Computing
    7.5 Computer Vision
           7.5.1 Computer Vision Technology has Shown Significant Applications in Surgery and Therapy

8 Artificial Intelligence in Healthcare Market, By End-Use Application (Page No. - 79)
    8.1 Introduction
    8.2 Patient Data and Risk Analysis
           8.2.1 Growth in Healthcare Data has Escalated Patient Data and Risk Analysis Application
    8.3 Inpatient Care & Hospital Management
           8.3.1 Demand to Reduce the Operational Cost in Hospitals to Generate Demand for AI-Based In-Patient Care and Hospital Management
    8.4 Medical Imaging & Diagnostics
           8.4.1 Growth in Medical Imaging Data has Propelled the Growth of Medical Imaging and Diagnostics Application
    8.5 Lifestyle Management & Monitoring
           8.5.1 AI Solutions for Lifestyle Management and Monitoring Helps Patients in Making Healthier Lifestyle Changes
    8.6 Virtual Assistant
           8.6.1 Increasing Demand to Improve Follow-Up Care, Especially for Patients With Chronic Diseases, is Driving the Growth of Virtual Assistants
    8.7 Drug Discovery
           8.7.1 AI to Reduce the Time and Cost Required in Drug Discovery
    8.8 Research
           8.8.1 Growing Adoption of Different Types of AI Algorithms Among Bioinformatics Researchers, Especially for Classifying and Mining Their Databases, is the Key Application of AI in Research
    8.9 Healthcare Assistance Robots
           8.9.1 Healthcare Assistance Robots Have Been Adopted in Several Areas That Directly Affect Patient Care
    8.10 Precision Medicine
           8.10.1 AI is Expected to Fulfill the Demand for Personalized Treatment Plans for Patients Administered With Precision Medicine
    8.11 Emergency Room & Surgery
           8.11.1 Limited Workforce in Emergency Rooms and Demand to Support Clinicians With Surgical Data to Drive the Growth of AI in Emergency Room and Surgery
    8.12 Wearables
           8.12.1 Wearable Devices are Clinically Useful for Improving Real-Time Monitoring of Patients
    8.13 Mental Health
           8.13.1 Increase in Mental Disorders Across the World is the Key Factor Supporting the Growth of Mental Health Application

9 Artificial Intelligence in Healthcare Market, By End User (Page No. - 99)
    9.1 Introduction
    9.2 Hospitals and Providers
           9.2.1 AI Can Be Utilized to Predict and Prevent Readmissions, and Improve Operations Among Hospitals and Providers
    9.3 Patients
           9.3.1 Smartphone Applications and Wearables to Drive the Adoption of AI Among Patients
    9.4 Pharmaceutical and Biotechnology Companies
           9.4.1 Applications Such as Drug Discovery, Precision Medicine, and Research to Drive AI in Pharmaceutical and Biotechnology Companies
    9.5 Healthcare Payers
           9.5.1 Healthcare Payers Use AI Tools Mainly for Managing Risk, Identifying Claims Trends, and Maximizing Payment Accuracy
    9.6 Others
           9.6.1 Patient Data and Risk Analytics and Healthcare Assistance Robots to Drive the Growth of AI in ACOS and MCOS

10 Artificial Intelligence in Healthcare Market, By Region (Page No. - 111)
     10.1 Introduction
     10.2 North America
             10.2.1 US
                        10.2.1.1 High Healthcare Spending to Complement the Growth of AI in the US
             10.2.2 Canada
                        10.2.2.1 Continuous Research on NLP and ML Across Research Institutions and Universities in Canada Propels the AI in Healthcare Market
             10.2.3 Mexico
                        10.2.3.1 AI-Enabled Devices for the Healthcare Sector Have Been Gaining Traction in Mexico
     10.3 Europe
             10.3.1 Germany
                        10.3.1.1 Rising Healthcare Data Generation in the Country Will Be A Key Driving Factor for the Growth of the Market
             10.3.2 UK
                        10.3.2.1 Large Volume of Data Generated By NHS and Digital Health Solutions Have Paved the Way for AI in the UK
             10.3.3 France
                        10.3.3.1 Healthcare IT in France has Witnessed Considerable Implementation of AI Over the Last Decade
             10.3.4 Italy
                        10.3.4.1 Development of Electronic Health Records and Aging Population to Drive the Market in Italy
             10.3.5 Spain
                        10.3.5.1 Growing Awareness of AI in Spain to Drive the AI in Healthcare Market
             10.3.6 Rest of Europe
     10.4 Asia Pacific
             10.4.1 China
                        10.4.1.1 High Spending By the Government in Healthcare and Official Plans to Digitize Medical Records to Drive the AI in Healthcare Market in China
             10.4.2 Japan
                        10.4.2.1 Aging Population to Drive the Growth of AI in Japan
             10.4.3 South Korea
                        10.4.3.1 Quality Healthcare Services and Rapid Expansion of Medical Insurance Coverage are Among the Driving Factors of AI in Healthcare Market in South Korea
             10.4.4 India
                        10.4.4.1 Developing IT Infrastructure in the Country and AI-Friendly Initiatives By the Government are the Key Factors Supporting the Growth of AI in India
             10.4.5 Rest of Asia Pacific
     10.5 Rest of the World
             10.5.1 South America
                        10.5.1.1 Increasing Awareness About Potential Applications of AI in Healthcare is Driving the Growth of the Market in South America
             10.5.2 Middle East and Africa
                        10.5.2.1 Growing Healthcare Expenditure in the Middle East and North Africa is A Key Growth Driver of AI in Healthcare Market

11 Competitive Landscape (Page No. - 138)
     11.1 Overview
     11.2 Ranking of Players, 2017
     11.3 Competitive Scenario
             11.3.1 Product Developments and Launches
             11.3.2 Collaborations, Partnerships, and Strategic Alliances
             11.3.3 Acquisitions & Joint Ventures

12 Company Profiles (Page No. - 147)
     12.1 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
             12.1.1 Nvidia
             12.1.2 Intel
             12.1.3 IBM
             12.1.4 Google
             12.1.5 Microsoft
             12.1.6 General Electric (GE) Company
             12.1.7 Siemens Healthineers (A Strategic Unit of the Siemens Group)
             12.1.8 Medtronic
             12.1.9 Micron Technology
             12.1.10 Amazon Web Services (AWS)
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
     12.2 Other Major Companies
             12.2.1 Johnson & Johnson Services
             12.2.2 Koninklijke Philips
             12.2.3 General Vision
     12.3 Company Profiles, By Application
             12.3.1 Patient Data & Risk Analysis
                        12.3.1.1 Cloudmedx
                        12.3.1.2 Oncora Medical
                        12.3.1.3 Zephyr Health
                        12.3.1.4 Sentrian
                        12.3.1.5 Careskore
                        12.3.1.6 Linguamatics
             12.3.2 Medical Imaging & Diagnostics
                        12.3.2.1 Enlitic
                        12.3.2.2 Bay Labs
                        12.3.2.3 Butterfly Networks
                        12.3.2.4 Imagia Cybernetics
             12.3.3 Precision Medicine
                        12.3.3.1 Precision Health AI
                        12.3.3.2 Cota
                        12.3.3.3 FDNA
             12.3.4 Drug Discovery
                        12.3.4.1 Recursion Pharmaceuticals
                        12.3.4.2 Atomwise
                        12.3.4.3 Deep Genomics
                        12.3.4.4 Cloud Pharmaceuticals
             12.3.5 Lifestyle Management & Monitoring
                        12.3.5.1 Welltok
                        12.3.5.2 Vitagene
                        12.3.5.3 Lucina Health
             12.3.6 Virtual Assistants
                        12.3.6.1 Next IT (A Verint Systems Company)
                        12.3.6.2 Babylon
                        12.3.6.3 Mdlive
             12.3.7 Wearables
                        12.3.7.1 Magnea
                        12.3.7.2 Physiq
                        12.3.7.3 Cyrcadia Health
             12.3.8 Emergency Room & Surgery
                        12.3.8.1 Caresyntax
                        12.3.8.2 Gauss Surgical
                        12.3.8.3 Perceive3d
                        12.3.8.4 Maxq AI
             12.3.9 In-Patient Care & Hospital Management
                        12.3.9.1 Qventus
                        12.3.9.2 Workfusion
             12.3.10 Research
                        12.3.10.1 Icarbonx
                        12.3.10.2 Desktop Genetics
             12.3.11 Mental Health
                        12.3.11.1 Ginger.Io
                        12.3.11.2 X2AI
                        12.3.11.3 Biobeats
             12.3.12 Healthcare Assistance Robots
                        12.3.12.1 Pillo
                        12.3.12.2 Catalia Health

13 Appendix (Page No. - 207)
     13.1 Insights From Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (65 Tables)

Table 1 Increase in Neuroimaging and Genetics Data, and Complexity Relative to Computational Power
Table 2 Price Comparison: AI Chipsets (Leading Companies)
Table 3 AI in Healthcare Market, By Offering, 2015–2025 (USD Million)
Table 4 AI in Healthcare Market, By Hardware, 2015–2025 (USD Million)
Table 5 AI in Healthcare Market for Hardware, By Region, 2015–2025 (USD Million)
Table 6 AI in Healthcare Market, By Processor, 2015–2025 (USD Million)
Table 7 AI in Healthcare Market for Offering, By Software, 2015–2025 (USD Million)
Table 8 AI in Healthcare Market for Software, By Region, 2015–2025 (USD Million)
Table 9 AI in Healthcare Market for Solution, By Deployment, 2015–2025 (USD Million)
Table 10 AI in Healthcare Market for Software, By Platform, 2015–2025 (USD Million)
Table 11 AI in Healthcare Market, By Services, 2015–2025 (USD Million)
Table 12 AI in Healthcare Market for Services, By Region, 2015–2025 (USD Million)
Table 13 AI in Healthcare Market, By Technology, 2015–2025 (USD Million)
Table 14 AI in Healthcare Market for Machine Learning, By Type, 2015–2025 (USD Million)
Table 15 AI in Healthcare Market for Natural Language Processing, By Type, 2015–2025 (USD Million)
Table 16 AI in Healthcare Market for Context-Aware Computing, By Type, 2015–2025 (USD Million)
Table 17 AI in Healthcare Market, By End-Use Application, 2015–2025 (USD Million)
Table 18 AI in Healthcare Market for Patient Data and Risk Analysis, By Region, 2015–2025 (USD Million)
Table 19 AI in Healthcare Market for Patient Data and Risk Analysis, By End User, 2015–2025 (USD Million)
Table 20 AI in Healthcare Market for In-Patient Care & Hospital Management, By Region, 2015–2025 (USD Million)
Table 21 AI in Healthcare Market for In-Patient Care and Hospital Management, By End User, 2015–2025 (USD Million)
Table 22 AI in Healthcare Market for Medical Imaging and Diagnostics, By Region, 2015–2025 (USD Million)
Table 23 AI in Healthcare Market for Medical Imaging and Diagnostics, By End User, 2015–2025 (USD Million)
Table 24 AI in Healthcare Market for Lifestyle Management & Monitoring, By Region, 2015–2025 (USD Million)
Table 25 AI in Healthcare Market for Lifestyle Management & Monitoring, By End User, 2015–2025 (USD Million)
Table 26 AI in Healthcare Market for Virtual Assistant, By Region, 2015–2025 (USD Million)
Table 27 AI in Healthcare Market for Virtual Assistant, By End User, 2015–2025 (USD Million)
Table 28 AI in Healthcare Market for Drug Discovery, By Region, 2015–2025 (USD Million)
Table 29 AI in Healthcare Market for Drug Discovery, By End User, 2015–2025 (USD Million)
Table 30 AI in Healthcare Market for Research, By Region, 2015–2025 (USD Million)
Table 31 AI in Healthcare Market for Research, By End User, 2015–2025 (USD Million)
Table 32 AI in Healthcare Market for Healthcare Assistance Robots, By Region, 2015–2025 (USD Million)
Table 33 AI in Healthcare Market for Healthcare Assistance Robots, By End User, 2015–2025 (USD Million)
Table 34 AI in Healthcare Market for Precision Medicine, By Region, 2015–2025 (USD Million)
Table 35 AI in Healthcare Market for Precision Medicine, By End User, 2015–2025 (USD Million)
Table 36 AI in Healthcare Market for Emergency Room & Surgery, By Region, 2015–2025 (USD Million)
Table 37 AI in Healthcare Market for Emergency Room & Monitoring, By End User, 2015–2025 (USD Million)
Table 38 AI in Healthcare Market for Wearables, By Region, 2015–2025 (USD Million)
Table 39 AI in Healthcare Market for Wearables, By End User, 2015–2025 (USD Million)
Table 40 AI in Healthcare Market for Mental Health, By Region, 2015–2025 (USD Million)
Table 41 AI in Healthcare Market for Mental Health, By End User, 2015–2025 (USD Million)
Table 42 AI in Healthcare Market, By End User, 2015–2025 (USD Million)
Table 43 AI in Healthcare Market for Hospitals and Providers, By Application, 2015–2025 (USD Million)
Table 44 AI in Healthcare Market for Hospitals and Providers, By Region, 2015–2025 (USD Million)
Table 45 AI in Healthcare Market for Patients, By Application, 2015–2025 (USD Million)
Table 46 AI in Healthcare Market for Patients, By Region, 2015–2025 (USD Million)
Table 47 AI in Healthcare Market for Pharmaceutical and Biotechnology Companies, By Application, 2015–2025 (USD Million)
Table 48 AI in Healthcare Market for Pharmaceutical and Biotechnology Companies, By Region, 2015–2025 (USD Million)
Table 49 AI in Healthcare Market for Healthcare Payers, By Application, 2015–2025 (USD Million)
Table 50 AI in Healthcare Market for Healthcare Payers, By Region, 2015–2025 (USD Million)
Table 51 AI in Healthcare Market for Others, By Application, 2015–2025 (USD Million)
Table 52 AI in Healthcare Market for Others, By Region, 2015–2025 (USD Million)
Table 53 AI in Healthcare Market, By Region, 2015–2025 (USD Million)
Table 54 AI in Healthcare Market in North America, By Country, 2015–2025(USD Million)
Table 55 AI in Healthcare Market in North America, By End User, 2015–2025 (USD Million)
Table 56 AI in Healthcare Market in North America, By Offering, 2015–2025 (USD Million)
Table 57 AI in Healthcare Market in Europe, By Country, 2015–2025(USD Million)
Table 58 AI in Healthcare Market in Europe, By End User, 2015–2025 (USD Million)
Table 59 AI in Healthcare Market in Europe, By Offering, 2015–2025 (USD Million)
Table 60 AI in Healthcare Market in APAC, By Country, 2015–2025 (USD Million)
Table 61 AI in Healthcare Market in APAC, By End User, 2015–2025 (USD Million)
Table 62 AI in Healthcare Market in APAC, By Offering, 2015–2025 (USD Million)
Table 63 AI in Healthcare Market in RoW, By Region, 2015–2025 (USD Million)
Table 64 AI in Healthcare Market in RoW, By End User, 2015–2025 (USD Million)
Table 65 AI in Healthcare Market in RoW, By Offering, 2015–2025 (USD Million)


List of Figures (49 Figures)

Figure 1 Artificial Intelligence in Healthcare Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Assumptions for the Research Study
Figure 6 AI in Healthcare Market, By Offering, 2018 vs 2025 (USD Million)
Figure 7 AI in Healthcare Market, By Processor, 2018 vs 2025 (USD Million)
Figure 8 AI in Healthcare Market, By Technology, 2015-2025 (USD Million)
Figure 9 AI in Healthcare Market, By Application, 2018 vs 2025 (USD Million)
Figure 10 AI in Healthcare Market, By End User, 2018 vs 2025 (USD Million)
Figure 11 AI in Healthcare Market, By Region, 2018
Figure 12 Growing Big Data in Healthcare and Increasing Adoption of AI-Based Tools in Healthcare Facilities are Major Factors Driving Market Growth
Figure 13 Software to Hold Largest Share of AI in Healthcare Market During Forecast Period
Figure 14 AI in Healthcare Market for Machine Learning to Hold Largest Size From 2018 to 2025
Figure 15 Germany Expected to Hold Largest Share of AI in Healthcare Market in 2018 in Europe
Figure 16 US to Hold Largest Share of AI in Healthcare Market in 2018
Figure 17 Increasingly Large and Complex Data Set and Growing Demand to Reduce Healthcare Costs are Driving Market Growth
Figure 18 Types of Healthcare Breaches Reported to U.S. Department of Health and Human Services
Figure 19 AI in Healthcare Market Value Chain in 2017
Figure 20 Software to Hold Largest Size of AI in Healthcare Market During Forecast Period
Figure 21 AI in Healthcare Processor Market for GPU to Grow at Highest CAGR During Forecast Period
Figure 22 North America to Hold Largest Market in AI in Healthcare Market for Software During Forecast Period
Figure 23 Machine Learning to Hold Largest Share of AI in Healthcare Market During Forecast Period
Figure 24 AI in Healthcare Market for Medical Imaging & Diagnostics to Grow at Highest CAGR During Forecast Period
Figure 25 North America to Lead Lifestyle Management & Monitoring Application During Forecast Period
Figure 26 North America to Hold Largest Market in Research Application During Forecast Period
Figure 27 North America to Hold Largest Share in Emergency Room & Surgery Application in 2018
Figure 28 Hospitals and Providers to Hold Largest Share of AI in Healthcare Market in 2018 & 2025
Figure 29 Precision Medicine Application to Witness Highest CAGR in AI in Healthcare Market for Pharmaceutical & Biotechnology Companies During Forecast Period
Figure 30 China & US are Emerging as New Hot Spots in AI in Healthcare Market
Figure 31 North America to Dominate AI in Healthcare Market During Forecast Period
Figure 32 North America: Snapshot of AI in Healthcare Market
Figure 33 Europe: Snapshot of AI in Healthcare Market
Figure 34 Hospitals & Providers Held Largest Share in European AI in Healthcare Market in 2018
Figure 35 APAC: Snapshot of AI in Healthcare Market
Figure 36 Services to Witness Highest CAGR in AI in Healthcare Market During Forecast Period
Figure 37 RoW: Snapshot of AI in Healthcare Market
Figure 38 Key Developments Adopted By Top Players in AI in Healthcare Market From 2015 to Mid-2018
Figure 39 Ranking of Key Companies in AI in Healthcare Market (2017)
Figure 40 Nvidia: Company Snapshot
Figure 41 Intel: Company Snapshot
Figure 42 IBM: Company Snapshot
Figure 43 Google: Company Snapshot
Figure 44 Microsoft: Company Snapshot
Figure 45 GE: Company Snapshot
Figure 46 Siemens Healthineers: Company Snapshot
Figure 47 Medtronic: Company Snapshot
Figure 48 Micron Technology: Company Snapshot
Figure 49 AWS: Company Snapshot

The study involved 4 major activities in estimating the current size of the AI in healthcare market. Exhaustive secondary research has been conducted to collect information about the market, the peer market, and the parent market. Validating findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both, top-down and bottom-up approaches have been employed to estimate the complete market size. In the subsequent steps, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

The research methodology used to estimate and forecast the AI in healthcare market begins with capturing data on revenues of the key vendors in the market through secondary research. This study involves the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for the technical and commercial study of the AI in healthcare market. Moreover, secondary sources include annual reports, press releases, and investor presentations of companies; white papers, certified publications, and articles from recognized authors; directories; and databases. Secondary research has been mainly done to obtain key information about the industry’s supply chain, the market’s value chain, the total pool of key players, market classification and segmentation according to industry trends, geographic markets, and key developments from both market- and technology-oriented perspectives.

Primary Research

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain the qualitative and quantitative information relevant to AI in healthcare market. Primary sources from the supply side include experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, application developers, application users, and related executives from various key companies and organizations operating in the ecosystem of the AI in healthcare market.


Artificial Intelligence in Healthcare Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both, top-down and bottom-up approaches have been used to estimate and validate the overall size of the AI in healthcare market. These methods have also been used extensively to estimate the size of various market subsegments. The research methodology used to estimate the market size includes the following:

  • Key players in major applications and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends from both demand and supply sides.

Report Objectives

  • To describe and forecast the artificial intelligence (AI) in healthcare market, in terms of value, by offering, technology, end-use application, and end user
  • To describe and forecast the AI in healthcare market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
  • To profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers & acquisitions, new product developments, and research and development (R&D) in the AI in healthcare market

Scope of the Report:


Report Metric

Details

Market size available for years

2015–2025

Base year

2017

Forecast period

2018–2025

Units

Value, USD

Segments covered

Offering, Technology, End-Use Application, End User

Geographic regions covered

North America, APAC, Europe, and RoW

Companies covered

NVIDIA (US), Intel (US), IBM (US), Google (US), Microsoft (US), AWS (US), General Vision (US), GE Healthcare (US), Siemens Healthineers (Germany), Medtronic plc (US), Johnson & Johnson (US), and Koninklijke Philips N.V. (Netherlands), among others

This report categorizes the AI in healthcare market based on offering, technology, end-use application, end user, and region.

AI in Healthcare Market, by Offering:

  • Hardware
  • Software
  • Services

AI in Healthcare Market, by Technology:

  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
  • Computer Vision

AI in Healthcare Market, by End-Use Application:

  • Patient Data & Risk Analysis
  • Medical Imaging & Diagnostics
  • Precision Medicine
  • Drug Discovery
  • Lifestyle Management & Monitoring
  • Virtual Assistant
  • Wearables
  • In-Patient Care & Hospital Management
  • Research
  • Emergency Room & Surgery
  • Mental Health
  • Healthcare Assistance Robots

AI in Healthcare Market, by End User:

  • Hospitals & Providers
  • Patients
  • Pharmaceutical & Biotechnology Companies
  • Healthcare Payers
  • Others (ACOs and MCOs)

AI in Healthcare Market, by Region:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • RoW
    • Middle East & Africa
    • South America

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix that gives a detailed comparison of the product portfolio of each company
  • Country-wise breakdown of various end-user, including North America, Europe, APAC, and RoW
  • Unit shipment of hardware components, i.e., MPU, GPU, FPGA, and ASIC
  • Comprehensive coverage of funding/M&A activities, regulations followed in each region (North America, APAC, Europe, and RoW)

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 5225
Published ON
Dec, 2018
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