Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Artificial Intelligence In Healthcare Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists; marketers and senior management with the critical information they need to assess the global artificial intelligence in healthcare market as it emerges from the COVID 19 shut down.
The global artificial intelligence in healthcare market reached a value of nearly $7,833.6 million in 2021, having increased at a compound annual growth rate (CAGR) of 25.2% since 2016. The market is expected to grow from $ 7,833.6 million in 2021 to $ 33,107.6 million in 2026 at a rate of 33.4%. The market is then expected to grow at a CAGR of 27.8% from 2026 and reach $1,12,765.8 million in 2031.
Companies Mentioned
- IBM Watson Health
- Nuance Communications, Inc.
- Alphabet Inc.
- Concreto HealthAI
- Nvidia Corporation
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Growth in the historic period resulted from growing number of collaborations and partnerships, rising prevalence of chronic diseases, increasing implementation of ai in radiology, growing adoption of artificial intelligence for cost efficient drug discovery, rising funding in artificial intelligence in healthcare. Factors that negatively affected growth in the historic period were challenges due to regulatory changes, shortage of healthcare workforce, coronavirus pandemic.
Going forward increase in geriatric population, growing adoption of digital transformation in healthcare, increasing government initiatives for supporting artificial intelligence in healthcare. Factors that could hinder the growth of the artificial intelligence in healthcare market in the future include incompatible legacy health IT infrastructure, intense competition, low healthcare access.
The artificial intelligence in healthcare market is segmented by offerings into hardware, software, and services. The software market was the largest segment of the artificial intelligence in healthcare market by offerings, accounting for 44.8% of the total market in 2021. The hardware market is expected to be the fastest-growing segment in artificial intelligence in healthcare market offerings, going forward at a CAGR of 36.5% during 2021-2026 period.
The artificial intelligence in healthcare market is segmented by algorithm into deep learning, querying method, natural language processing, context aware processing. The natural language processing market was the largest segment of the artificial intelligence in healthcare market by algorithm accounting for 41.3% of the total market in 2021. The natural language processing market is expected to be the fastest-growing segment in artificial intelligence in healthcare market by algorithm, going forward at a CAGR of 35.1% during 2021-2026 period.
The artificial intelligence in healthcare market is segmented by application into robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis.
The robot-assisted surgery market was the largest segment of the artificial intelligence in healthcare market by application, accounting for 34.2% of the total market in 2021. The administrative workflow assistance segment is expected to be the fastest-growing segment in artificial intelligence in healthcare market segmented by distribution channel, going forward at a CAGR of 35.5% during 2021-2026 period.
The artificial intelligence in healthcare market is segmented by end-user into hospitals and diagnostic centers, pharmaceutical and biopharmaceutical companies, healthcare payers, patients.
The hospitals and diagnostic centers market was the largest segment of the artificial intelligence in healthcare market by end-user accounting for 62.0% of the total market in 2021. The healthcare payers' market is expected to be the fastest-growing segment in artificial intelligence in healthcare market by end-user, going forward at a CAGR of 34.8% during 2021-2026 period.
North America was the largest region in the artificial intelligence in healthcare market, accounting for 43.4% the global market in 2021. It was followed by Asia-Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the artificial intelligence in healthcare market will be Asia-Pacific and the North America, where growth will be at CAGRs of 25.5% and 20.2% respectively from 2021-2026.
The global artificial intelligence in healthcare market is fragmented, with a large number of small players. The top ten competitors in the market made up to 9.72% of the total market in 2021. The IBM Watson Health was the largest competitor with 2.04% share of the market, followed by Nuance Communications, Inc. with 1.54%, Alphabet Inc. with 1.23%, Concreto HealthAI. with 1.19%, Nvidia Corporation. with o.85%, PathAI with 0.84%, XtalPi with 0.62%, Benevolent AI with 0.56%, Exscientia. with 0.47%, and OWKIN with 0.38%.
Market-trend-based strategies for the artificial intelligence in healthcare market include use of AI for clinical trials, AI for rare diseases treatment, AI for drug adherence, AI in target selection, leveraging ai based models in pre-clinical studies, investments in AI driven biotech firms, rise in merger and acquisition activity, emerging role of CROs in AI ecosystems, introduction of new artificial intelligence (AI) tools, introduction of AI innovation labs
Player-adopted strategies in the artificial intelligence in healthcare market include focuses on providing its AI services for pharma companies, enhancing its business capabilities through strategic acquisitions, focuses on technology advancements in its AI services to pharmaceutical and investing funds for the same and strengthening its AI services business by strategic collaboration and partnerships to boost AI drug discovery and patient care.
To take advantage of the opportunities, the publisher recommends the artificial intelligence In healthcare companies to focus on use of ai for clinical trials, focus on use of AI for rare diseases treatment, focus on introduction of new ai tools, set up ai innovation labs, expand in emerging markets, continue to focus on developed markets, increase focus on mergers and acquisitions, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, continue to target fast-growing end-users, focus on fast-growing applications.
This report describes and explains the artificial intelligence in healthcare market and covers 2016 to 2021, termed the historic period, and 2021 to 2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 295 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $7833.6 Million |
| Forecasted Market Value (USD) by 2031 | $112765.8 Million |
| Compound Annual Growth Rate | 30.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Artificial Intelligence In Healthcare Market Definition and Segmentations
6.4. Market Segmentation by Offering
6.4.1. Hardware
6.4.2. Software
6.4.3. Services
6.5. Market Segmentation by Algorithm
6.5.1. Deep Learning
6.5.2. Querying Method
6.5.3. Natural Language Processing
6.5.4. Context-Aware Processing
6.6. Market Segmentation by Application
6.6.1. Robot-Assisted Surgery
6.6.2. Virtual Nursing Assistant
6.6.3. Administrative Workflow Assistance
6.6.4. Fraud Detection
6.6.5. Dosage Error Reduction
6.6.6. Clinical Trial Participant Identifier
6.6.7. Preliminary Diagnosis
6.7. Market Segmentation by End-User
6.7.1. Hospitals And Diagnostic Centers
6.7.2. Pharmaceutical And Biopharmaceutical Companies
6.7.3. Healthcare Payers
7. Major Market Trends
7.1. Use Of AI For Clinical Trials
7.2. AI For Rare Diseases Treatment
7.3. AI For Drug Adherence
7.4. AI in Target Selection
7.5. Leveraging AI Based Models in Pre-Clinical Studies
7.6. Investments in AI Driven Biotech Firms
7.7. Rise In Merger And Acquisition Activity
7.8. Emerging Role of CROs in AI Ecosystems
7.9. Introduction of New Artificial Intelligence (AI) Tools
7.10. Introduction of AI Innovation Labs
8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.2.1. Market Drivers 2016 - 2021
8.3. Market Restraints 2016 - 2021
8.4. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.4.1. Market Drivers 2021 - 2026
8.5. Market Restraints 2021 - 2026
9. Global Market Segmentation
9.1. Global Artificial Intelligence In Healthcare Market, Segmentation By Offering, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Artificial Intelligence In Healthcare Market, Segmentation By Algorithm, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Artificial Intelligence In Healthcare Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.4. Global Artificial Intelligence In Healthcare Market, Segmentation By End-User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10. Global Market, Regional And Country Analysis
10.1. Global Artificial Intelligence In Healthcare Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10.2. Global Artificial Intelligence In Healthcare Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/falw9u
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
