Pune, India, Jan. 19, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the North America healthcare AI market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 30 billion by 2027.
North America healthcare artificial intelligence (AI) industry size is expanding at a rapid rate, thanks to the introduction of AI technologies to help in transforming various medical procedures. AI technology is quite popularly used to produce solutions that are smart enough to take key decisions, just like human beings.
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The healthcare sector in North America is undergoing some massive technological transformations because of AI. This technology has enhanced the functioning of various segments like patient care and other organizational processes. The main advantages of using AI in medical facilities are early diagnosis of a complex underlying condition, greater accuracy in treatment, higher safety levels offered to patients and giving valuable suggestions to make the decision-making process a lot easier.
Some of the chief trends that will be responsible for the progress of this market are mentioned below:
Use of big data analytics in healthcare AI:
Big data analytics will find high demand across various areas of the healthcare industry because this technology can be of major help to large-scale hospitals. These hospitals have to take care of heavy volumes of data every day and it is almost impossible to find certain important files in millions of data records. This is where big data analytics will play a vital role by sorting the files according to the requirements of the medical staff and will provide the needed information in seconds. It even helps the medical professionals take sound decisions in certain critical areas.
Upsurge in AI application across patient care facilities:
Patient care quality is gaining prominence among customers and the healthcare industry is well aware of that. This is the reason why the healthcare sector has introduced advanced technologies like machine learning to upgrade the overall quality of patient care offered. According to a report released by Becker’s Healthcare, the U.S. healthcare industry was immensely benefitted by AI because of the introduction of various concepts like digitization, commercial AI/ML frameworks and cloud computing platforms.
AI has played an important role in improving patient care to a great extent by increasing the level of patient engagement while taking important medical decisions regarding their treatments. It will greatly enhance the overall experience of patients.
AI finds high application in medical imaging and diagnosis:
North America healthcare AI market share from medical imaging and diagnosis segment will record a strong CAGR of 46% over 2021-2027. One of the major reasons for this is that AI offers many benefits in medical imaging and diagnosis like identifying complex patterns in the imaging data and providing a quantitative assessment of radiographic features. According to a report in the National Center for Biotechnology Information (NCBI), AI can be used in many clinical applications like thoracic imaging, mammography, colonoscopy, and radiation oncology among many others.
U.S. market share witnesses robust expansion:
U.S. healthcare AI market size was valued at over $1 billion in 2020 and is expected to grow at a swift rate in the future. One of the most important reasons for this is attributed towards the support received from the nation’s government. Authorities are encouraging the adoption of digital technologies across medical areas like life sciences. Today, venture capitalists are realizing the true potential of AI in terms of providing valuable contribution towards improving patient care. AI can also help in increasing the reach of medical services to millions of people in the country and can even reduce the overall healthcare costs.
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Healthcare AI is gaining prominence among medical professionals in North America as the technology has transformed the way in which people view medical facilities. It has drastically improved the overall experience of patients and has saved millions of lives with the help of early diagnosis of various rare health conditions. Artificial intelligence has been instrumental in advising medical professionals in taking sound decisions and has increased patient engagement in these decisions to a great extent.
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About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
