Artificial Intelligence in Healthcare Market is Booming Market to Rapidly Growin

Posted by ojasdbmr on April 20th, 2021

Artificial intelligence in healthcare market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 123.14 billion by 2028 and will grow at a CAGR of 50.87% in the above mentioned forecast period.

Key Market Competitors: Global Artificial Intelligence in Healthcare Market

Few of the major competitors currently working in the artificial intelligence in healthcare market NVIDIA Corporation, Intel Corporation, IBM, Google, Microsoft, , General Vision, GENERAL ELECTRIC, Siemens Healthcare Private Limited, Medtronic, CloudMedx Inc., Imagia Cybernetics Inc., Precision Health           Intelligence, LLC., Cloud Pharmaceuticals, Inc.

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Artificial Intelligence in healthcare uses software and algorithms which is used to analyze human cognitive functions. In simple words, computer techniques are used by the professional to suggest treatments and to perform clinical diagnoses. Cancer, neurology and cardiology are the major diseases areas that use AI tools. AI tool help to give accurate output to their end- user. Diagnosis processes, treatment protocol development, drug development, personalized medicine etc. are some of the practices where AI programs are used.

Segmentation: Global Artificial Intelligence in Healthcare Market

•          By Offering (Hardware, Software, Services)
•          By Technology (Machine Learning, Natural Language Processing, Context- Aware Computing, Computer Vision)
•          By Applications (Robot- Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Dosage Error Reduction, Clinical Trial Participant Identifier, Preliminary Diagnosis)
•          By End- Use Application (Patient Data and Risk Analysis, Inpatient Care & Hospital Management, Medical Imaging & Diagnostics, Lifestyle Management & Monitoring, Virtual Assistant, Drug Discovery, Research, Healthcare Assistance Robots, Precision Medicine, Emergency Room & Surgery, Wearables, Mental Health)
•          By End- User (Hospitals and Providers, Patients, Pharmaceutical and Biotechnology Companies, Healthcare Payers)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis: Global Artificial Intelligence in Healthcare Market

Global artificial intelligence in healthcare market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of artificial intelligence in healthcare market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Market Drivers

•          Due to imbalance between health workforce and patients, there is demand for improvised healthcare services which is driving the market.
•          Increase in the partnerships and collaborations worldwide.

Market Restraints

•          Lack in the skilled AI professional is the major factor restraining the growth of this market.
•          The unwillingness among the medical practitioners to adopt AI technology is other factor which is restraining the market.