Artificial Intelligence (AI) in Healthcare Market worth $164.16 billion by 2030
The report "Artificial Intelligence (AI) in Healthcare Market by Offering (Integrated), Function (Diagnosis, Genomic, Precision Medicine, Radiation, Immunotherapy, Pharmacy, Supply Chain), Application (Clinical), End User (Hospitals), Region- Global Forecast to 2030", is projected to reach USD 164.16 billion by 2030 from USD 14.92 billion in 2024, at a CAGR of 49.1% during the forecast period.
Browse 455 market data Tables and 54 Figures spread through 386 Pages and in-depth TOC on "Artificial Intelligence (AI) in Healthcare Market by Offering (Integrated), Function (Diagnosis, Genomic, Precision Medicine, Radiation, Immunotherapy, Pharmacy, Supply Chain), Application (Clinical), End User (Hospitals), Region- Global Forecast to 2030"
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The market for Artificial Intelligence (AI) in healthcare solutions is expanding rapidly owing to a number of factors. The growing focus on value-based care, increasing establishment of healthcare facilities such as hospitals & diagnostic imaging centers, increasing use of AI-powered applications in elderly care offer lucrative opportunities for the growth of the market. However, the shortage of skilled professionals to operate AI-based healthcare tools & solutions, and the concerns regarding data privacy are some of the factors that challenge market growth.
The deep learning subsegment holds the largest market share in the Artificial Intelligence (AI) in healthcare market of machine learning segment, by tools.
On the basis of tools, the Artificial Intelligence (AI) in healthcare market for machine learning has been segmented into deep learning, supervised learning, reinforcement learning, unsupervised learning, and other machine learning technologies. In 2023, the deep learning segment is accounted to hold the largest share of the Artificial Intelligence (AI) in healthcare market. The large share of this segment is driven by its ability to process vast amounts of unstructured medical data, such as imaging, electronic health records, and genomics, enabling accurate disease diagnosis and prediction.Additionally, the integration of deep learning with wearable devices and telemedicine enhances remote monitoring and personalized care delivery.
The patient engagement & remote monitoring segment is expected to register significant growth during the forecast period.
In 2023, the patient engagement & remote monitoring segment registered a considerable growth in the Artificial Intelligence (AI) in healthcare market by function during the forecast period. The growing need for personalized care, improved patient outcomes, and cost reduction drives the adoption of AI in healthcare for patient engagement and remote monitoring. AI-powered tools, such as virtual health assistants, chatbots, and wearable device integrations, enhance patient communication, self-management, and real-time health tracking, enabling proactive interventions. Additionally, the rise of telehealth services, the need to manage chronic diseases remotely, and advancements in AI-driven analytics further accelerate the adoption of these technologies?.
Asia Pacific to witness a considerable growth rate during the forecast period.
The Artificial Intelligence (AI) in healthcare market is segmented into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to see a significant growth with a noticeable annual growth rate during the forecast period. Factors driving the growth of Artificial Intelligence (AI) in healthcare solutions in the region include a gradual shift towards adopting technologies like automation, data analytics, cloud computing, IOT, ML, etc., rising investments attracting new market players, and the presence of leading educational institutions and research centers in Asia-Pacific that drive scientific innovation and technological progress. Moreover, increased direct investments from European and North American pharmaceutical and biotechnology companies in Asia are expected to drive the adoption of Artificial Intelligence (AI) in healthcare solutions in the region.
Key Players
Koninklijke Philips N.V. (Netherlands), Microsoft (US), Siemens Healthineers AG (Germany), NVIDIA Corporation (US), Epic Systems Corporation (US), GE Healthcare (US), Medtronic (US), Oracle (US), Veradigm LLC (US), Merative (IBM) (US), Google (US), Cognizant (US), Johnson & Johnson (US), Amazon Web Services, Inc. (US), SOPHiA GENETICS (US), Riverian Technologies (US), 3M (US), Terarecon (ConcertAI) (US), Tempus (US), Viz.ai (US) are the major players in this market. These companies are majorly focusing on the strategies such as acquisitions, collaborations, partnerships, expansion and product launches and updates in order to remain competitive and further increase their share in the market.
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