Artificial Intelligence in Healthcare Market by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Querying Method, and Computer Vision), Offering, Application, End User and Region - Global Industry Analysis, Opportunities and Forecast up to 2026

The global Artificial Intelligence in Healthcare market size was valued at $6,824.82 million in 2020, and is projected to reach $53,858.41 million by 2026, growing at a CAGR of 41.1% during the forecast period.

• Increasing need of improved health care services due to balance between patients and workforce is becoming difficult in countries like India, and China. In this consequences Artificial Intelligence can help the workers to achieve their tasks. This contributes towards uplift between workforce and patients. This is the most important factor forcing the healthcare institutions to adopt artificial intelligence in healthcare, which will eventually drive the growth of artificial intelligence in healthcare market.

• Additionally, the expanding volume of healthcare data and increasing complexities of datasets driving the need for AI in healthcare, the increasing need to reduce high healthcare costs, declining hardware costs and improving computing power, rising number of cross-industry partnerships and collaborations are boosting the growth of the market.

• However, reluctance to adopt AI based technologies in developing economies, and affordability issue due to high capital requirement restraining factor for the growth of the processed mango products market.

Artificial Intelligence (AI) is intelligence demonstrated by machines, to automate and perform tasks commonly done by humans, through algorithms. In healthcare AI uses the complex algorithms for the analysis of complex medical data. As it provides well defined output, and improves the ability to gain information. Moreover, it recognizes the patterns and makes its own logic out of it. Artificial Intelligence is used in diagnosis, treatment development, drug development, personalized medicine, patient monitoring and care. AI has numerous benefits like cost reduction, patient satisfaction and others.

By Offering, the Software Segment is likely to Supplement the Market

The software segment made higher revenue in the year 2020 and also increasing its prominence during the foreseeable period as well. This huge demand for software segment is mainly due to the factors such as; acceleration of data analysis with high accuracy, ability to reduce operational or administrative complexity, and rise in software developments by companies that cater to the requirements in the healthcare sector.

By Geography, North America is Leading in the Global Market Place

North America is likely to have a huge demand in the forecast period owing to well-established healthcare sector, high adoption of healthcare IT solutions and easy availability of funding for developing AI capabilities within the region. The US is likely to witness the maximum revenue share of artificial intelligence in healthcare. The increasing number of company registrations in the US making the AI presence strong in the country.

List of the Key Players Profiled in the Market Include:

• IBM Corporation
• Alphabet Inc. (Google Inc.)
• DeepMind Technologies Limited
• Enlitic Inc.
• General Electric
• General Vision
• iCarbonX
• Intel Corporation
• Medtronic
• Microsoft
• Next IT Corp.
• Nuance Communications, Inc.
• NVIDIA Corporation
• Siemens Healthineers
• Welltok Inc.

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Technology
• Machine Learning
• Natural Language Processing
• Context-Aware Computing
• Querying Method
• Computer Vision

Market by, Application
• Patient Data and Risk Analysis
• Inpatient Care & Hospital Management
• Medical Imaging & Diagnostics
• Lifestyle Management & Remote Patient Monitoring
• Virtual Assistants
• Drug Discovery
• Research
• Healthcare Assistance Robots
• Precision Medicine
• Emergency Room & Surgery
• Wearables
• Mental Health
• Cybersecurity

Market by, End User
• Pharmaceutical and Biotechnology Companies
• Hospitals and Providers
• Healthcare Payers
• Patients
• Other End Users

Market by, Geography
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview          
    1.1 Introduction      
    1.2 Research Objectives     
    1.3 Market Segmentation     
    1.4 Stakeholders      
    1.5 List of Acronyms      
            
2 Executive Summary          
            
3 Research Methodology         
    3.1 Identification of Data     
    3.2 Evaluation of Market Dynamics    
    3.3 Collaboration of Data     
    3.4 Verification and Analysis     
    3.5 Data Sources      
    3.6 Assumptions      
            
4 Market Dynamics          
    4.1 Market Drivers      
            4.1.1 Growing need of improved health care services
            4.1.2 Increasing need to reduce healthcare costs
            4.1.3 Rising volume of healthcare data and increasing complexities of datasets
    4.2 Market Restraints      
            4.2.1 Affordability issue due to high capital requirement
            4.2.2 Reluctance to adopt AI based technologies in developing economies
    4.3 Market Opportunities     
            4.3.1 Increasing need to have personalised treatments
            4.3.2 Untapped market in developing regions
    4.4 Market Challanges      
            4.4.1 Concerns regarding data privacy
    4.5 Impact of COVID-19 on Artificial Intelligence in Healthcare Market 
            
5 Porter's Five Force Analysis         
    5.1 Bargaining Power of Suppliers     
    5.2 Bargaining Power of Buyers     
    5.3 Threat of New Entrants     
    5.4 Threat of Substitutes     
    5.5 Competitive Rivalry in the Market    
            
6 Global Artificial Intelligence in Healthcare Market by, Technology     
    6.1 Overview      
    6.2 Machine Learning      
    6.3 Natural Language Processing     
    6.4 Context-Aware Computing     
    6.5 Querying Method      
    6.6 Computer Vision      
            
7 Global Artificial Intelligence in Healthcare Market by, Offering     
    7.1 Overview      
    7.2 Hardware      
    7.3 Software       
    7.4 Services       
            
8 Global Artificial Intelligence in Healthcare Market by, Application     
    8.1 Overview      
    8.2 Patient Data and Risk Analysis     
    8.3 Inpatient Care & Hospital Management    
    8.4 Medical Imaging & Diagnostics     
    8.5 Lifestyle Management & Remote Patient Monitoring  
    8.6 Virtual Assistants      
    8.7 Drug Discovery      
    8.8 Research       
    8.9 Healthcare Assistance Robots     
    8.10 Precision Medicine      
    8.11 Emergency Room & Surgery     
    8.12 Wearables      
    8.13 Mental Health      
    8.14 Cybersecurity      
            
9 Global Artificial Intelligence in Healthcare Market by, End User     
    9.1 Overview      
    9.2 Pharmaceutical and Biotechnology Companies   
    9.3 Hospitals and Providers     
    9.4 Healthcare Payers      
    9.5 Patients       
    9.6 Other End Users      
            
10 Global Artificial Intelligence in Healthcare Market by, Geography     
    10.1 Overview      
    10.2 North America      
    10.3 Europe       
    10.4 Asia Pacific      
    10.5 South America      
    10.6 Middle East & Africa     
            
11 Key Developments          
            
12 Company Profiling          
 12.1 IBM Corporation         
  12.1.1 Business Overview        
  12.1.2 Product/Service Offering       
  12.1.3 Financial Overview        
  12.1.4 SWOT Analysis        
  12.1.5 Key Activities        
 12.2 Alphabet Inc. (Google Inc.)        
 12.3 DeepMind Technologies Limited       
 12.4 Enlitic Inc.         
 12.5 General Electric         
 12.6 General Vision         
 12.7 iCarbonX          
 12.8 Intel Corporation         
 12.9 Medtronic          
 12.10 Microsoft          
 12.11 Next IT Corp.         
 12.12 Nuance Communications, Inc.        
 12.13 NVIDIA Corporation         
 12.14 Siemens Healthineers        
 12.15 Welltok Inc.