The global Healthcare Artificial Intelligence market research is an intelligence report announced by Absolute Markets Insights. The erudite market study provides insightful data for readers to help them in making informed business decisions. Primary and secondary research methodologies have also been used to discover the correct and applicable data of Healthcare Artificial Intelligence market. Effective business strategies of key market players and of new startup industries are also studied thoroughly to provide extensive market knowledge. The report makes use of an effective analysis technique such as SWOT and Porter’s five analysis to present its accurate results on the market.
Healthcare artificial intelligence market is estimated to be US$ 3,120 Mn in 2020 and is anticipated to grow at a CAGR of +25.9% over the forecast period (2022-2030) owing to digitalization of medical device and patient registries.
In terms of revenue, the global healthcare artificial intelligence market is estimated to be US$ 3,120 Mn in 2020 and is anticipated to reach US$ 24,700+ Mn by 2030 growing at a CAGR of 25.9% over the forecast period.
Top Key Players includes: IBM Corporation, Welltok, Inc., Intel Corporation, Google, Inc., Next IT Corp., Microsoft Corporation, General Electric Company, Medtronic PLC, and Koninklijke Philips N.V.
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Major players such as McKesson Corporation, IBM and others have introduced their EHR products. The rising adoption of electronic patient and medical device registry has led to generation of huge datasets which can be optimally utilized for analytical predictive purposes. AI and advanced analytics enable healthcare providers to extract patient-specific information from connected medical devices instead of having to analyze large, time-consuming and complicated datasets, thus propelling the growth of global healthcare artificial intelligence market. Such specific patient information can aid them to offer personalized medicines and diagnostics. For instance, Qualetics Data Machines Inc. offers an intelligence platform for healthcare industry which provides incisive insights using artificial intelligence, machine learning, natural language processing and predictive analysis coupled with data obtained from patient registries.
In other such instance, Saykara, Inc. has developed an AI based virtual assistant for physicians utilizing speech recognition technology, which listens in the background during attending any patient and automatically generates notes which is later updated in the EHR system. These application of AI technologies in combination with EHR systems are enhancing healthcare delivery and user experience thus enhancing the growth of global healthcare artificial intelligence market. Going forward deployment of patient and medical device registries on cloud platform further deepens the market penetration of these electronic registries thus creating extensive potential application for AI technologies. For instance, SyTrue in partnership with Microsoft has introduced Azure, cloud platform of Microsoft, based solution to manage health records through natural language processing technology. Thus, growing digitalization of patient and medical device registries are expected to boost the growth of global healthcare artificial intelligence market globally.
Healthcare Artificial Intelligence Market Segmentation:
- Querying Method
- Natural Language Processing
- Context-Aware Computing
- Speech Recognition
- Machine Learning
- Others (Biometrics, AI Modeling, etc.)
- Robot Assisted Surgery
- Virtual Nursing Assistants
- Administrative Workflow Assistance
- Fraud Detection, Connected Machines
- Clinical Trials
- Preliminary Diagnosis
- Others (Dosage Error Reduction, Cybersecurity, etc.)
By End User
- Healthcare Providers
- Pharmaceutical and Biotechnology Companies
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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