Healthcare Artificial Intelligence Market to Surpass a Valuation of USD 21.52 Billion by 2032

Pune, India, 2022 /press release/- Market Research Future Published a Half-Cooked Research Report on Healthcare Artificial Intelligence Market Research Report.

As per Market Research Future (MRFR)’s latest analysis, the Healthcare Artificial Intelligence Market is anticipated to reach USD 21.52 Billion by 2032 at a 51.90% CAGR during the forecast period 2022-2030

AI has developed various applications across the healthcare sector, such as the detection of diseases, delivery of health services, management of chronic conditions, and drug discovery. It assures efficiency and effectiveness, which is projected to accelerate its adoption over the next couple of years. Additionally, AI has strengthened its foothold in the healthcare research industry for the deliverance of accurate results.

AI enables healthcare to overcome the crisis of human resource by offering increased productivity through automation of complicated tasks. This, in turn, is likely to augment the market during the assessment period by increasing demand for the integration of AI in healthcare. However, the high cost of implementation and stringent guidelines regulating AI are expected to hold the growth of the market in the coming years.

Global Market for Healthcare Artificial Intelligence – Segmental Analysis:

MRFR’s report offers a detailed analysis of the global healthcare artificial intelligence market based on component, application, technology, and end-user. By component, the global market has been segmented into services, software, and hardware. Among these, the hardware segment is likely to account for a dominant share throughout the projection period expanding at a relatively higher CAGR over 2023.

By application, the market is segmented into robot-assisted surgery, virtual nursing assistant, dosage error reduction, clinical trial, preliminary diagnosis, and automated image diagnosis. The robot-assisted surgery segment holds the most significant share of the market and is poised to retain its dominance in the foreseeable future. The growth of the segment is attributable to the high precision and flexibility assured by robot-assisted surgeries while performing complex procedures. Meanwhile, the automated image diagnosis segment resonates strong growth opportunities and is estimated to register a comparatively higher CAGR.

By technology, the market has been segmented into machine learning, querying method, and natural language processing. Among these, the machine learning segment is prognosticated to register the highest CAGR and hold a dominant share of the global market over the next couple of years. The ability to handle multi-dimensional data while facilitating a reduction in the process time cycle is favoring the growth of the segment.

By end-user, the market is segmented into hospital & diagnostic centers, pharmaceutical & biotechnology companies, and academic & research laboratories. The hospital & diagnostic centers segment has control over the largest share of the market and is prognosticated to retain its pole position over the assessment period. The segment has been estimated to strike a relatively higher CAGR over 2023 due to extensive application of healthcare AI in robotic surgeries and diagnostic imaging.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Healthcare Artificial Intelligence Research Report

Regional Outlook:

The global healthcare artificial intelligence market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is currently dominating the global market owing to the boom witnessed in the biotechnology industry, increasing cases of robotics surgeries and the presence of a developed healthcare sector. The region is poised to retain its dominant position through the forecast period and reach a valuation over USD 5000 Mn by 2023-end.

Europe has secured the second spot globally and is likely to witness a growth of USD 3453.4 Mn in terms of market value from 2017 to 2023. Extensive research & development for healthcare AI coupled with increased funding are responsible for catalyzing the proliferation of the regional market. The region is prognosticated to witness increased rate of adoption of the technology in the forthcoming years.

Asia Pacific is poised to strike a relatively higher CAGR of 52.4% over the assessment period. The growth can be ascribed to rising therapeutic demand for chronic diseases and the fast-developing healthcare sector. Meanwhile, the Middle East & Africa is projected to hold the least share of the market valuing at 70.4 Mn towards the end of the forecast period. It is prognosticated to exhibit sluggish growth at 24.9% CAGR over 2023. The factors that remain impediments to the growth of the regional market are limited exposure to healthcare services, lack of awareness, and stringent government regulations.

Global Market for Healthcare Artificial Intelligence – Competitive Dashboard:

Some of the key players profiled in the report include DEEP GENOMICS, Next IT Corp., General Vision, Google, NVIDIA Corporation, IBM Watson Health, Intel Corporation, Koninklijke Philips N.V., General Electric, Stryker, Microsoft Corporation, CloudMedx Inc.