Key Highlights :
The healthcare industry is rapidly evolving due to the emergence of new technologies such as artificial intelligence (AI). AI is being used to improve patient care, streamline processes, and reduce costs. The global healthcare artificial intelligence market is expected to reach a value of USD 37.8 billion by 2028, growing at a CAGR of 38.2% during the forecast period from 2021 to 2028.
AI is being used in healthcare to diagnose and treat diseases, develop drugs, deliver personalized medicine, monitor patients, and provide better patient care. AI-based technologies are being used to automate healthcare processes, such as medical imaging, drug discovery, and patient data and risk analysis. AI is also being used to improve the accuracy of diagnosis and reduce healthcare costs.
The major players in the global healthcare artificial intelligence market are IBM (United States), Microsoft (United States), Siemens Healthineers (Germany), Micron Technology (United States), General Electric (United States), Medtronic (Ireland), AiCure (United States), APIXIO, Inc. (United States), Atomwise, Inc. (United States), and Butterfly Network, Inc. (United States). These companies are focusing on product launches, strategic collaborations, and mergers and acquisitions to stay competitive in the market.
The global healthcare artificial intelligence market is segmented on the basis of application, technology, offerings, and end-user. By application, the market is divided into patient data and risk analysis, inpatient care and hospital management, medical imaging and diagnostics, lifestyle management and monitoring, virtual assistant, drug discovery, and others. By technology, the market is divided into machine learning, natural language processing, context-aware computing, computer vision, and querying method. By offerings, the market is divided into hardware, software, and services. By end-user, the market is divided into hospitals and providers, patients, pharmaceutical and biotechnology companies, healthcare payers, and others.
The adoption of AI in drug discovery, medical imaging industry, precision medicine, and other fields is a major trend in the market. The rising need for personalized treatments and the increasing need to accelerate healthcare delivery services are driving the growth of the market. However, the difficulty in deployment of artificial intelligence is a major challenge for the market.
The global healthcare artificial intelligence market offers immense growth potential for players in the market. The market is expected to witness a high growth rate due to increasing demand for AI-based healthcare solutions.