Artificial Intelligence (AI) Healthcare Market to hit USD 97.23Bn at a CAGR of 40.51 percent by 2029

Pune, March 02, 2023 (GLOBE NEWSWIRE) — Maximize Market Research is a leading healthcare market research firm has published report on “Artificial Intelligence (AI) Healthcare Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape along with market drivers and challenges for the growth of the market. Artificial Intelligence (AI) Healthcare Market size was valued at USD 6.95 Billion in 2021 and is expected to grow at a CAGR of 40.51 percent from 2022 to 2029, reaching nearly USD 97.23 Billion.

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Artificial Intelligence (AI) Healthcare Market Research Methodology

The report on Artificial Intelligence (AI) Healthcare Market covers key aspects of the market dynamics. The key insights of the industry include the major drivers of the market, challenges to growth, restraining factors and lucrative opportunities for the growth of the market. Given the rapid spread of AIs and their growing advancement and applications in various sectors, a special section is dedicated to their growth. The report provides the Artificial Intelligence (AI) Healthcare Market size using a bottom-up approach.

For the regional analysis of the Artificial Intelligence (AI) Healthcare Market, the research is conducted at country, regional and global level. A thorough regional analysis provides information on the market penetration, regional dominance and major players in the market. To gain insights on the growth of various segments, the market is divided by type, application and user-end.

Major competitors in the Artificial Intelligence (AI) Healthcare Market are listed along with new entrants to get a comprehensive outlook on the competitive landscape of the market. Key players in the market are analysed based on key indicators such as the revenue generated, financial health of the company, technological advancements, social media presence, marketing tactics, investment strategies, mergers and acquisitions, joint ventures and partnerships.

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Data was collected using both primary and secondary research methods. This ensures that the analysis is validated using primary research. Primary research includes interviews, surveys, questionnaires and telephonic interviews while secondary research includes paid and authentic databases along with government sources, journals and white papers. For the analysis, research tools such as SWOT, PESTLE and Porter’s Five Force analysis were used in the report. This aids clients take data-driven investment and marketing decisions in the Artificial Intelligence (AI) Healthcare Market.

Artificial Intelligence (AI) Healthcare Market Overview

Healthcare organizations across the world are adopting AI technologies, which help them to analyze their accumulated vast data sets and uncover patterns and insights that humans are unable to find on their own. With deep AI knowledge, healthcare organizations use algorithms that help them to grow their business. The Artificial intelligence in healthcare Market is majorly driven by the increasing research and development and huge investments for the development of healthcare infrastructure.

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Artificial Intelligence (AI) Healthcare Market Dynamics

Artificial intelligence has witnessed a massive surge over the decade and continues to grow with increasing applications in almost all fields. This is especially true for the healthcare sector with advancements in healthcare infrastructure. Increased research and development and incorporation of the technology in medical devices and instruments, especially in developed economies are expected to drive the growth of the Artificial Intelligence (AI) Healthcare Market over the forecast period.

The growing prevalence of chronic and acute diseases, especially among the older population is also responsible for the growth of the Artificial Intelligence (AI) Healthcare Market. Governments are increasing expenditures on the healthcare sector along with private players has increased. This has resulted in the rapid adoption of innovative technology in hospitals for the management of medical data which is expected to fuel the growth of the Artificial Intelligence (AI) Healthcare Market. However, the high cost associated with research and development and hesitance among medical practitioners regarding the use of the technology is expected to hinder the Artificial Intelligence (AI) Healthcare Market growth.

Artificial Intelligence (AI) Healthcare Market Regional Insights

The North American region is expected to witness increased demand over the forecast period. The regional Artificial Intelligence (AI) Healthcare Market is led by the U.S. The regional growth is attributed to the rapid incorporation of AI technology in the healthcare system. The country is among the leading competitors for the advancement and adoption of AI in the healthcare sector. This growth presents lucrative opportunities for growth to regional players which are resulting in an increase in venture capital investments, thereby increasing the number of new entrants in the regional Artificial Intelligence (AI) Healthcare Market.

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The Asia-Pacific region is expected to witness significant growth over the forecast period. The regional Artificial Intelligence (AI) Healthcare Market growth is led by countries such as China and Japan given the advancement and increased usage of AI. Government initiatives and schemes to develop the healthcare infrastructure along with the adoption of AI in various applications such as imaging and radiology are expected to drive the regional Artificial Intelligence (AI) Healthcare Market over the forecast period. Artificial Intelligence (AI) Healthcare Market Segmentation

Artificial Intelligence (AI) Healthcare Market Segmentation:

By Type:

• Deep Learning
• Querying Application
• Natural Language Processing
• Context Aware Processing

By Application:

• Robot-assisted Surger
• Virtual Nursing Assistant
• Administrative Workflow Assistance
• Fraud Detection
• Dosage Error Reduction
• Clinical Trial Participant Identifier
• Preliminary Diagnosis
• Others

By End-User:

• Healthcare Provider
• Pharmaceutical & Biotechnology Company
• Patient

Artificial Intelligence (AI) Healthcare Market Key Players include:

• Shimadzu Recursion Pharmaceuticals, Inc.
• Siemens Healthineers
• General Electric (GE) Company
• Koninklijke Philips N.V.
• Cloudmedx, Inc.
• Bay Labs
• Welltok, Inc.
• Intel Corporation
• Nvidia Corporation
• Google Inc.
• IBM Corporation
• Microsoft Corporation
• General Vision, Inc.
• Enlitic, Inc.
• Next IT Corporation
• iCarbonX.
• Deep Genomics Inc.
• Enlitic Inc.
• International Business Machines Corporation (IBM)
• Oncore Medical Inc.
• Recursion Pharmaceuticals Inc.
• Stryker Corporation

Key questions answered in the Artificial Intelligence (AI) Healthcare Market are:

• What is Artificial Intelligence (AI) Healthcare?
• What is the current growth rate of the Artificial Intelligence (AI) Healthcare Market?
• Who are the key players in the Artificial Intelligence (AI) Healthcare Market?
• What are the factors affecting growth in the Artificial Intelligence (AI) Healthcare Market?
• Who held the largest market share in Artificial Intelligence (AI) Healthcare Market?
• What is the demand pattern for the Artificial Intelligence (AI) Healthcare Market?
• What are the opportunities for the Artificial Intelligence (AI) Healthcare Market?
• What are the strategies used by competitors in the Artificial Intelligence (AI) Healthcare Market?
• What are the growth prospects in developing countries for the Artificial Intelligence (AI) Healthcare Market?
• Which segment is expected to witness the fastest growth and why in the Artificial Intelligence (AI) Healthcare Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis of the Type, Application, End-User and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region

Maximize Market Research is leading healthcare research firm, has also published the following reports:

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Healthcare Supply Chain Management Market–The market size is expected to reach USD 4.10 billion by 2029 at a CAGR of 7.5 percent during the forecast period. It is expected to be driven by increasing need for efficient use of resources and research and development.

Computational Medicine and Drug Discovery Software Market –The market size is expected to reach USD 1002 million by 2029 at a CAGR of 3.7 percent during the forecast period. It is expected to be driven by growing popularity for customized medicine, the development of information technology and the introduction of speedy and precise computational platforms.

Cloud Based Drug Discovery Platform Market–The market size is expected to reach USD 6.12billion by 2029 at a CAGR of 14.65 percent during the forecast period. It is expected to be driven by increasing investment in drug discover, the use of AI and research and development.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.