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Healthcare Artificial Intelligence Market Trends, Growth Outlook, Size Estimation, Key Players and Industry Insights by 2027

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Healthcare Artificial Intelligence Market Trends, Growth Outlook, Size Estimation, Key Players and Industry Insights by 2027

April 21
01:41 2022
Healthcare Artificial Intelligence Market Trends, Growth Outlook, Size Estimation, Key Players and Industry Insights by 2027
Healthcare Artificial Intelligence Market
Healthcare Artificial Intelligence (AI) Market Research Report: Information By Component (Hardware, Software, Services), Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Dosage Error Reduction, Clinical Trial, Preliminary Diagnosis, Automated Image Diagnosis), Technology (Machine Learning, Querying Method, Natural Language Processing), End User (Hospital & Diagnostic Centers, Pharmaceutical & Biotechnology Companies Academic & Research Laboratories) – Global Forecast till 2027

Healthcare Artificial Intelligence Market Overview

The healthcare artificial intelligence market is anticipated to reach USD reaching USD 12.22 Billion at 51.9% CAGR during the forecast period, says Market Research Future (MRFR). Artificial intelligence is the biggest gamechanger for the global healthcare sector, especially when it comes to the robotic-assisted surgeries. Such robots work by utilizing data from past surgical experiences to provide enhanced insights, which can ultimately be used by the surgeon anytime in the future. These factors help improve the surgical outcome to a large extent, helping elevate the appeal of the AI technology in surgery centers. 

MRFR experts anticipate the healthcare artificial intelligence market’s status-quo should witness a dramatic surge in the coming few years. The technology is progressively being democratized by some of the biggest IT giants in the world, such as IBM Watson Health, Microsoft, Google, Philips, Salesforce, GE Healthcare, and Amazon. These companies offer affordable but highly quality services to speciality as well as modular-specific vendors, helping end-users provide precision diagnosis, treatment, and follow-up to patients all across the entire healthcare spectrum.

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The global industry notes extreme competition between the major vendors, in conjunction with the rising number of cross-firm partnerships, collaborations, agreements and many more. To cite a reference, in February 2022, Biofourmis, a tech firm with expertise in artificial intelligence-based virtual care as well as digital therapeutics, introduced Bioformis Care, a platform aiming to offer quality remote care to those suffering from chronic ailments. Biofourmis Care will aim to improve the provider adherence to healthcare guidelines while identifying patterns associated with medical deterioration to facilitate faster interventions.

Healthcare Artificial Intelligence Market Segment Analysis

The global market for healthcare artificial intelligence has been fragmented into numerous segments based on end-user, technology, application, component, and region.

Based on components, the global market for healthcare artificial intelligence is divided into services, software, and hardware.

Based on application, the global market for healthcare artificial intelligence is split into automated image diagnosis, clinical trial, virtual nursing assistant, preliminary diagnosis, dosage error reduction, and robot-assisted surgery.

Based on technology, the global market for healthcare artificial intelligence is divided into computer vision, natural language processing, machine learning, context-aware computing, and querying method.

The healthcare artificial intelligence market is split into academic & research laboratories, hospital & diagnostic centers, and pharmaceutical & biotechnology companies based on end-user.

Healthcare Artificial Intelligence Market Regional Insight

The Americas is home to the biggest healthcare artificial intelligence market and this share will continue to burgeon rapidly in the coming years. The American market’s strong growth over the upcoming years will be the result of the thriving biotechnology sector and the escalating use of surgical robots. The region is also witnessing growth in the elderly population affected by a series of chronic disorders, augmenting the demand for AI-supported devices and more in the healthcare sector.

Asia Pacific, capturing a growth rate of 52.4 percent, will be the fastest gainer in the future. Frequent technological advances coupled with the rapidly soaring healthcare sector raise the awareness level as well as the use of AI, especially in India, China, and Japan. Other encouraging factors could be the heightened requirement for coordination and communication between the patients and the healthcare workforce along with the surging use of precision medicine. The heightened burden of several diseases, and the tremendous growth of the capital investments considerably add to the healthcare artificial intelligence market value. On top of this, the significant deployment of big data in healthcare, rise in technological advancements, and China emerging as a popular market will further the healthcare AI industry in the region over the coming years.

Healthcare Artificial Intelligence Market Competitive Analysis

The global healthcare artificial intelligence market is well-known for the presence of a wide number of players. The growing number of research & development activities is projected to intensify the competition over the coming years. the global market for healthcare artificial intelligence has prominent leaders such as CloudMedx Inc, Stryker, Koninklijke Philips N.V, IBM Watson Health, Google, Next IT Corp, Microsoft Corporation, GENERAL ELECTRIC, Intel Corporation, NVIDIA Corporation, General Vision, DEEP GENOMICS, and several others.

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Recent Developments

  • March 2022- Mayo Clinic has recently announced the launch of its artificial intelligence startup program with four early-stage health tech companies. Mayo Clinic Platform_Accelerate, a 20-week program, focuses on helping AI-based startups get market-ready by providing access to Mayo Clinic experts in regulatory, clinical, business, and technology domains, emphasizing AI model validation and clinical readiness.
  • March 2022- Aimpoint Digital happily announced that Aimpoint Labs’s new venture is now fully functional. Well-reputed data and analytics consulting and solutions development firm, Aimpoint Digital is focused on assisting businesses to grow into analytics-driven organizations by obtaining tangible value from data. 

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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