The AI in healthcare market is expected to grow at a CAGR 39.78% rate during the forecast period. The huge availability of big data, growing number of cross-industry partnerships and collaborations is fueling the growth of the Artificial Intelligence market. In addition, demand to reduce the imbalance between healthcare workforce and patients is further supplementing the growth of the AI 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.
North America to account for largest market share. Being a developed and technologically advanced region, it 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.
Key market players include 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).
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?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Increasingly Large and Complex Data Set
3.1.2.Growing Demand to Reduce Healthcare Costs
3.1.3.Improving Computing Power and Declining Hardware Cost
3.1.4.Growing Number of Cross-Industry Partnerships and Collaborations
3.1.5.Rising Need for Improvised Healthcare Services Due to Imbalance Between Health Workforce and Patients
3.2.1.Reluctance Among Medical Practitioners to Adopt AI-Based Technologies
3.2.2.Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software
3.2.3.Lack of Curated Healthcare Data
3.2.4.Concerns Regarding Data Privacy
3.2.5.Lack of Interoperability Between AI Solutions Offered By Different Vendors
3.3.1.Growing Potential of AI-Based Tools for Elderly Care
3.3.2.Increasing Focus on Developing Human-Aware AI Systems
4. Artificial Intelligence in Healthcare Market, By Offering
188.8.131.52. Machine learning framework
184.108.40.206. Application program interface (API)
4.3.1.Deployment and integration
4.3.2.Support and maintenance
5. Artificial Intelligence in Healthcare Market, By TEchnology
5.1. Machine learning
5.2. Natural language processing
5.3. Context-aware computing
5.4. Computer vision
6. Artificial Intelligence in Healthcare Market, By Application
6.1. Patient data and risk analysis
6.2. Medical imaging and diagnostics
6.3. Precision medicine
6.4. Drug discovery
6.5. Lifestyle management and monitoring
6.6. Virtual assistant
6.7. Inpatient care and hospital management
6.9. Healthcare assistance robots
6.10. Emergency room and surgery
6.12. Metal health
7. Artificial Intelligence in Healthcare Market, By Region
7.1. North America
7.2.6.Rest of Europe
7.3. Asia Pacific
7.3.5.Rest of APAC
7.4. Rest of the World
7.4.2.Middle East and Africa
8. Company Profiles
8.1. Leading Companies in Artificial Intelligence in Healthcare market
8.1.6.General Electric Company
8.1.9.Amazon Web Services
8.1.10. Micron Technology
8.2. Other Companies in Artificial Intelligence in Healthcare market
Company introduction, financial information, recent developments, SWOT analysis
9. Conclusion and Recommendations
10.2. Related Reports