Artificial Intelligence (AI) in Healthcare Market Size, Share, Trends, Analysis and Forecast by Region, Segment, Offering (Software, hardware, services), Technology (Machine learning, Natural language processing, Computer vision, and Context-aware computi
LONDON, UK, October 21, 2022 /EINPresswire.com/ — The global AI in healthcare market size reached USD 7,679.39 million in 2021, according to a new report by GlobalData Plc. As the distribution of venture capital (VC) investments for AI technologies in healthcare precisely follows the movement of overall VC funding movement, the latter can be utilized as an alternative for interest in AI by country. Globally, in 2019, the health tech deals were valued at $15.5 billion, consisting of 789 deals, which slightly decreased to $13.8 billion in 2019. However, the number of deals and deal value has increased significantly over the past decade. That is portraying the growth prospectus available in the market and the increased focus of market players to capture the potential within the market. Investment flows are focused on the United States, although investments are increasing in countries with high potential such as China and India.
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Increasing strategic moves such as partnerships, collaborations, and product launches are contributing to the growth of the global AI medical diagnostics market. The blue-chip market players are indulging in product development and partnership to enhance AI capabilities for the treatment of various diseases. Some of these companies are GE Healthcare, Siemens Healthcare, Fujifilm, Roche, and Medtronic. Furthermore, various technocrats such as Google, IBM, Intel, and NVIDIA are also looking forward to leveraging the market potential by offering innovative solutions in the industry. For instance, in February 2020, FUJIFILM Europe GmbH announced the launch of an innovative software version with a new function for colon polyp characterization using deep-learning AI technology, named CAD EYE (1*). In August 2021, GE Healthcare entered a partnership with Amazon Web Services (AWS) to provide cloud-based and AI imaging solutions to healthcare providers and hospitals. Also, in August 2021, IBM and Black & Veatch entered a collaboration to jointly market asset performance management (APM) solutions, comprising remote monitoring technologies that include near real-time data analytics with AI to help customers save assets and equipment running at peak reliability and performance. Furthermore, in July 2020, GE Healthcare and Lunit expanded their collaboration to intensify AI adoption. The two companies joined forces to develop AI algorithms from Lunit INSIGHT CXR accessible through GE Healthcare’s Thoracic Care Suite, assisting improve clinical strain amongst radiologists and enhancing patient outcomes.
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AI in healthcare Market Report Highlights
• The global AI in the healthcare market is projected to witness a CAGR of 39.05% from 2021 to 2027, reaching a value of $ 52,258.53 million. The market is set to gain thrust during the forecast period on account of the increasing investment and development in AI.
• In 2021, the machine learning segment of AI in the healthcare market is estimated at US$ 2,513.65 million in 2021 and is forecast to reach US$ 19,229.55 million by 2027, growing at a CAGR of 41.79%.
• The Hospitals and healthcare providers segment of the AI in healthcare market is estimated at $ 2,749.19 million in 2021 and is expected to grow up to $ 20,809.68 million by 2027, growing at a CAGR of 41.54%.
• The market has witnessed an increase in investment and funding for the development of Ai in healthcare, which will boost the market growth during the forecast period.
• North America closely followed by Europe captured over 26.80% of the overall Ai in healthcare share in 2021. Vendors in these regions are launching various technology-based products, thereby accelerating market growth.
• The Ai in healthcare market key players analyzed as part of this report are Microsoft, international business machines corp, Intel corp, Fujifilm holding corp, among others
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GlobalData Plc has segmented the AI in healthcare market report by Offering, Technology, End User, and region:
Global AI in healthcare Offering Outlook (Revenue, USD Million, 2020-2027)
• Software
• Hardware
• Services
Global AI in healthcare Technology Outlook (Revenue, USD Million, 2020-2027)
• Machine learning
• Natural language processing
• Computer vision
• Context-aware computing
Global AI in healthcare End User Outlook (Revenue, USD Million, 2020-2027)
• Hospitals and healthcare providers
• Healthcare payers
• Pharmaceuticals & biotechnology companies
• Others
AI in Healthcare Regional Outlook (Revenue, USD Million, 2020-2027)
• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
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