The Healthcare Industry is Continuously Evolving with the Complexity and Rise of Data in Healthcare, thus Artificial Intelligence is Increasingly Being Applied in the Healthcare Sector

New York, May 17, 2023 (GLOBE NEWSWIRE) — In the current epoch, we find ourselves deeply immersed in a world of cutting-edge, intelligent technologies. These advancements empower us with the ability to make decisions and execute actions more swiftly than ever before. AI in healthcare statistics reveals an enlightening glimpse into the transformative impact of technology in healthcare sector.

Artificial Intelligence, or AI, has emerged as a prevalent tool, earning recognition and adoption across various industries worldwide. The healthcare field is in a constant state of flux, adapting to growing complexities and the surge of data. As a result, the implementation of Artificial Intelligence in healthcare is on the rise.

The AI industry, worth billions, is making inroads into the healthcare arena, promising to enhance the quality of health services significantly. The mounting demand for more streamlined and potent AI-powered healthcare strategies propels the industry to embrace AI-centric solutions and services.

According to Market.us, the global artificial intelligence in the healthcare market was valued at USD 9.81 billion in 2022. It is projected to reach USD 238.5 billion at a CAGR of 38.73% between 2023 to 2032.

Artificial Intelligence in Healthcare Worldwide Statistics

• Less than 10% of healthcare organizations had been utilizing AI for more than 5 years.
• 4 in 10 Americans think AI in health and medicine would reduce the number of mistakes
• About 45% of healthcare services worldwide adopted data integration software for their organizations.
• 36% of organizations implemented natural language processing software.
• North America is dominant in global AI in the healthcare market with the largest market share of 59.1%.
• By 2030, annual healthcare spending in the United States is expected to reach $6.8 trillion.
• The government share of this spending is projected to be 48% by 2030, driven by increases in Medicare enrolment, as more than 10,000 Americans become eligible for Medicare each day.
• 1.8% of organizations in the United States use machine learning in healthcare services.
• 1.3% of healthcare organizations use natural-language processing.
• In 2022, 12.6% of workers were employed at firms that utilize AI in healthcare.
• 51% of US adults who say ethnic biases in healthcare are a problem believe AI will reduce bias.
• 75.7% of radiologists considered AI-based algorithmic results reliable.
• 65% of US adults want AI to be used in their cancer screening.
• According to a Deloitte survey of 1,100 US managers whose organizations were already pursuing AI, 63% of companies surveyed were employing machine learning in their business.
• Artificial Intelligence is capable of accurately diagnosing diseases in 87% of cases.
•  In contrast, health condition detection by humans had an 86% accuracy rate.
• According to Forbes AI-assisted robotics surgery, leads to a 21% reduction in a patient hospital stay.
• The virtual nursing assistant with the help of Artificial Intelligence (AI) saves the healthcare industry USD 20 billion annually.

Artificial Intelligence in Drug Discovery, by Component Statistics

According to market.us, the global artificial intelligence in drug discovery market was valued at USD 1.2 Billion in 2022. Between 2023 and 2032, this market is estimated to register the highest CAGR of 27.5%. It is expected to reach USD 12.8 Billion by 2032.

The market for AI in drug discovery is dominated by North America which holds a lucrative market share of 56.4% and revenue of USD 0.68 billion.

Global Healthcare Artificial Intelligence Market Value 2026, By Application

Artificial Intelligence (AI) has several applications in healthcare sectors. The most significant application of AI is in robot-assisted surgery. This statistic is about the forecast value of the artificial intelligence healthcare market, by application in 2026.

• The market for AI-assisted robotic surgery is expected to grow at the fastest CAGR and is expected to hold revenue of USD 40 billion by 2026, followed by virtual nursing assistant revenue of USD 20 billion by 2026.

Artificial Intelligence in Healthcare Statistics- By Country

The United States

The United States is one of the leading countries in the adoption of AI in healthcare. This stat shows discomfort among Americans with the use of AI in their healthcare.

• The majority of Americans (40%) think that the use of Artificial Intelligence (AI) in health and medicine would reduce the mistakes that done by healthcare professionals, but only 27% of Americans think that AI does not reduce the mistakes done by their healthcare provider.

• About 60% of people in the United States would be uncomfortable with providers relying on AI in their healthcare.
• 40% of adults feel comfortable with providers relying on AI in their healthcare.
• 6 in 10 adults in the United States says they would feel uncomfortable if their healthcare provider relied on AI to diagnose of diseases and recommended treatments.

Americans’ Views On AI Applications Used in Cancer Screening, Surgery, and Mental Health Support

• About 65% of American adults say that they would probably want AI to be used for their skin cancer screening, 55% of adults say that AI would make skin cancer diagnosis more accurate, and only 13% of adults believe that it would be less accurate.
• About 72% of men and 58% of women say that they would want AI for screening skin cancer.
• About 26% of US adults say that pain management treatment would get better by using AI and 32% of US adults say that this would lead to worse pain treatment management.
• About 8 in 10 US adults (79%) say they would not want to use an AI Chatbot if they were seeking mental health support.
• Only 20% of US adults say that they would want chatbots if they are seeking mental health support.

China

China is investing more and more in AI and has shown rapid progress in healthcare technology. The Chinese government made AI a national priority, with initiatives to develop advanced AI technologies.

• China’s AI in healthcare market accounted for revenue of USD 0.55 billion and the market is expected to grow at a revenue of USD 11.91 billion by 2030, registering a CAGR of 46.72% during the forecast period.
• China is suffering from more than 95 million patients with depression and stress, AI in healthcare management helps patients to provide mental health support.

United Kingdom

The United Kingdom has been actively exploring AI in the healthcare sector through the initiatives such as NHS AI Lab.

• The United Kingdom AI in Healthcare Market accounted for revenue of USD.0.18 billion in 2022, and the market is expected to grow at a revenue of USD 3.18 billion by 2032, registering a Compound Annual Growth Rate (CAGR 2022-2032) of 43.22%.

South Korea

South Korea has been actively exploring its footprints in AI technologies in the healthcare sector, particularly in areas such as medical imaging, robotics, and telemedicine.

• In 2019 the market size of the AI healthcare market in South Korea was 55.4 billion South Korean won, and the market is expected to reach a revenue of 246.5 billion South Korean won by the end of the year 2023.

Top Companies in AI in Healthcare Market

IBM Watson Health

IBM Watson Health is a subdivision of IBM that focuses on applying AI and cognitive computing technologies in the field of healthcare.  IBM Watson Health Provides clinical decision support tools that leverage AI and natural language processing. In 2022, IBM software’s segment generated revenue of USD 25 billion of the total company’s revenue which was around USD 60.53 billion in 2022.

NVIDIA Corporation

NVIDIA Corporation is primarily known for its graphics processing units (GPUs). NVIDIAs GPU have been used in developing advanced AI algorithms and software frameworks for medical analysis. The company provides AI-powered medical devices for diagnostic imaging, digital surgery, digital pathology, genomic sequencing, and patient monitoring. The quarterly revenue of NVIDIA is $6.05 billion in 2023, down 21% from a year 2022.

Microsoft

Microsoft is a leading company in developing AI healthcare solutions for the healthcare industry. Microsoft’s Azure cloud platform offers various AI tools and services for healthcare organizations, including Azure Machine Learning. Microsoft’s revenue for the twelve months ending March 31, 2023, was $207.591B, a 7.81% increase year-over-year. Microsoft offers services and software such as Microsoft Cloud, Azure Space, and Microsoft Viva for the healthcare industry.

Related Report in Healthcare Industry:

• Healthcare Chatbots Market size was valued at USD 195.85 million in 2022 and is expected to reach USD 1168 million in 2032 at a CAGR of 20.1%.
• Generative AI in Healthcare Market is to be valued at USD 17.2 billion, from USD 0.8 billion in 2022, with a CAGR of 37.0%.
• Healthcare Cloud Computing Market is expected to be worth around USD 201.1 billion by 2032 from USD 41.4 billion in 2022, growing at a CAGR of 17.6%.
• Healthcare CRM Market was valued at US$ 13 billion in 2022 and expected to grow US$ 45 billion in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 13.6%.
• Connected Healthcare Market was valued at USD 58.2 billion. Between 2023 and 2032, this market is estimated to register a CAGR of 25.2%.
• Home Healthcare Market size is expected to be worth around USD 797.8 billion by 2032 from USD 369.3 billion in 2022.

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