Dublin, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Healthcare Market (by Component, Application, End-user & Region): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com's offering.
The global AI in healthcare market is forecasted to record a value of US$22.68 billion in 2025, progressing at a CAGR of 35.59%, for the duration spanning 2021-2025.
Factors such as rising utilization of robots for surgical and rehabilitation procedures, growing potential of AI-based tools for elderly care, surging investment in AI deals in healthcare and rising adoption of wearable devices are driving growth.
However, the market growth would be challenged by reluctance among medical practitioners regarding the adoption of AI-based technologies and concerns regarding data privacy. The market is anticipated to experience certain trends like shortage of skilled workforce, upsurge in demand for personalized medicine and rising number of cross-industry partnerships and collaborations.
The global AI in healthcare market can be segmented on the basis of component, application and end-user. Based on component, the market can be bifurcated into software solutions, hardware and services. According to application, the market can be categorized into clinical trials, robot assisted surgery, connected machines, fraud detection, virtual assistants, administrative workflow assistants, diagnosis, dosage error reduction, cybersecurity and others. Whereas, depending on end-users, the market can broadly be split into hospitals & healthcare providers, pharmaceutical & biotechnology companies, patients, healthcare payers and others.
The fastest growing regional market is North America due to surging adoption of machine learning in the medical sector leading to the growth of AI in the healthcare market in countries like the U.S. and Canada and increasing government initiatives to adopt digital platforms in healthcare industry and sector. Further, the COVID-19 outbreak has significantly promoted the implementation of remote health check-ups using digital tools, which positively impacted the market growth.
Market Dynamics
Growth Drivers
- Rising Utilization of Robots for Surgical and Rehabilitation Procedures
- Increasing Volume of Healthcare Data
- Growing Potential of AI-Based Tools for Elderly Care
- Surging Investment in AI Deals in Healthcare
- Rapid Adoption of Wearable Devices
- Escalating Penetration of Online Pharmacy
Key Trends and Developments
- Shortage of Skilled Workforce
- Growing Shift towards Home Healthcare
- Upsurge in Demand for Personalized Medicine
- Rising Number of Cross-Industry Partnerships and Collaborations
Challenges
- Reluctance among Medical Practitioners to Adopt AI-based Technologies
- Concerns Regarding Data Privacy
Scope of the report
- The report provides a comprehensive analysis of the global AI in healthcare market segmented on the basis of component, application, end-user and region.
- The major regional and country markets (North America, Europe, Asia Pacific and Rest of the World) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Microsoft Corporation, Intel Corporation, International Business Machines Corporation (IBM), Koninklijke Philips N.V., Nvidia Corporation and Siemens Healthineers AG) are also presented in detail.
Key Topics Covered:
Market Overview
- Overview of Artificial Intelligence in HealthCare
- Types of AI used in the Healthcare
- Relation Between AI, Cloud Computing and Data Analytic
- Applications of AI in Healthcare
- Benefits of AI in Healthcare
Impact of COVID-19
- Surging Adoption of Telemedicine
- Growth in Healthcare AI Funding
- Escalating Adoption of AI to Expedite Vaccine or Drug Development
Market Analysis
- Global AI in Healthcare Market by Value
- Global AI in Healthcare Market Forecast by Value
- Global AI in Healthcare Market by Component
- Global AI in Healthcare Market by Application
- Global AI in Healthcare Market by End-Users
- Global AI in Healthcare Market by Region
Regional Market
Competitive Landscape
- Revenue Comparison of Key Players
- Market Capitalization Comparison of Key Players
- R&D Comparison of Key Players
Company Profiles
- Microsoft Corporation
- Intel Corporation
- International Business Machines Corporation (IBM)
- Koninklijke Philips N.V.
- Nvidia Corporation
- Siemens Healthineers AG
For more information about this report visit https://www.researchandmarkets.com/r/9qkufe
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