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REPORT OUTLOOK
| Market Size | CAGR | Dominating Region |
|---|---|---|
| USD 169.7 billion | 42% | North America |
| by Component | by Application |
|---|---|
|
|
SCOPE OF THE REPORT
Healthcare AI Market Overview
The healthcare artificial intelligence market is projected to grow from USD 7.23 billion in 2020 to USD 169.7 billion by 2029, it is expected to grow at a CAGR of 42% from 2022 to 2029.
In the healthcare sector, artificial intelligence (AI) utilizes sophisticated software programs equipped with intricate algorithms to replicate human sensory functions, enabling the analysis, interpretation, and comprehension of medical data. AI plays a pivotal role in enhancing support and guidance for healthcare providers by assessing symptoms, disease patterns, and offering tailored treatment plans, alongside facilitating drug development and personalized medicine, thereby streamlining processes and fostering innovation.
Key drivers of market expansion include the accumulation of extensive patient health data, heightened demand for personalized medical solutions, and the imperative to curb healthcare costs. Factors such as global aging demographics, evolving lifestyles, and the prevalence of chronic illnesses further underscore the necessity for early disease detection and comprehensive disease understanding. Consequently, healthcare systems are increasingly integrating AI and machine learning (ML) algorithms to prognosticate diseases based on historical health data, ensuring proactive intervention.
Additionally, the evolving landscape of elderly care is influenced by factors like extended life expectancies, demographic shifts, and the limitations of conventional caregiving methods, highlighting the significant potential of AI. This technology offers transformative solutions for elderly care by enabling continuous health monitoring, fall detection mechanisms, medication management, and personalized care plans tailored to individual health profiles. Moreover, AI facilitates cognitive support, social interaction, and companionship through the integration of companion robots and virtual assistants, thereby addressing mental well-being concerns, particularly among seniors facing conditions like dementia, while mitigating loneliness.
Healthcare AI Market Segment Analysis
The Healthcare AI market is segmented on the basis of component, application and region. Based on component, the software solutions segment dominated the market for artificial intelligence in healthcare and accounted for the largest revenue share owing to the rapidly growing adoption rate of AI-based software solutions amongst healthcare providers, payers, and patients.
Healthcare AI Market Key Players
Key players operating in healthcare artificial intelligence market include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., Next IT Corporation, and iCarbonX.
- Intel Corporation, is an American multinational corporation and technology company. Intel-powered AI and deep learning hardware solutions feature state-of-the-art processors, AI accelerators, software, and compiler optimization tools.
- Nvidia Corporation designs graphics processing units for the gaming and professional markets, as well as system on a chip unit for the mobile computing and automotive market. NVIDIA is leading the way in AI computing.
Who Should Buy? Or Key Stakeholders
- Computer Software Companies
- Computer Hardware Manufacturers
- Electronic Industry
- Investors
- Manufacturing companies
- End user companies
- Healthcare Industry
- Hospitals
- Others
Key Takeaways:
-
The healthcare artificial intelligence market is projected to grow at a CAGR of 8.2% during the forecast period.
-
Based on component, the software solutions segment dominated the market for artificial intelligence in healthcare
-
Based on Application, the Medical Imaging & Diagnosis segment dominated the market for artificial intelligence in healthcare
-
The healthcare artificial intelligence market’s major share is occupied by North America.
-
One major trend in the healthcare AI market is the increasing adoption of AI-powered predictive analytics for early disease detection and personalized treatment planning.
Healthcare AI Market Regional Analysis
The global healthcare AI market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
Its major share is occupied by North America. The major factors driving the growth of the North American market are increasing adoption of AI technology across the continuum of care, particularly in the United States, and high healthcare spending combined with the onset of the COVID-19 pandemic, which has accelerated the adoption of AI in hospitals and clinics across the region.
Key Market Segments: Healthcare Ai Market
Healthcare Ai Market by Component, 2020-2029, (USD Million)
- Software Solutions
- Hardware
- Services
Healthcare Ai Market by Application, 2020-2029, (USD Million)
- Medical Imaging & Diagnosis
- Drug Discovery
- Therapy Planning
- Hospital Workflow
- Wearables
- Virtual Assistants
Healthcare Ai Market by Region, 2020-2029, (USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
Important Countries In All Regions Are Covered.
Key Question Answered
- What are the growth opportunities related to the adoption of healthcare AI across major regions in the future?
- What are the new trends and advancements in the healthcare AI market?
- Which product categories are expected to have highest growth rate in the healthcare AI market?
- Which are the key factors driving the healthcare AI market?
- What will the market growth rate, growth momentum or acceleration the market carries during the forecast period?
Table of Content
- Introduction
- Market Definition
- Market Segmentation
- Research Timelines
- Assumptions and Limitations
- Research Methodology
- Data Mining
- Secondary Research
- Primary Research
- Subject-Matter Experts’ Advice
- Quality Checks
- Final Review
- Data Triangulation
- Bottom-Up Approach
- Top-Down Approach
- Research Flow
- Data Sources
- Data Mining
- Executive Summary
- Market Overview
- Global Healthcare AI Market Outlook
- Market Drivers
- Market Restraints
- Market Opportunities
- Impact of Covid-19 On Global Healthcare AI Market
- Global Healthcare AI Market Outlook
- Global Healthcare AI Market by Component, (USD Million)
- Software Solutions
- Hardware
- Services
- Global Healthcare AI Market by Application, (USD Million)
- Medical Imaging & Diagnosis
- Drug Discovery
- Therapy Planning
- Hospital Workflow
- Wearables
- Virtual Assistants
- Global Healthcare AI Market by Region, (USD Million)
- Introduction
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- South-East Asia
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Company Profiles* (Business Overview, Company Snapshot, Products Offered, Recent Developments)
- MISUMI Corporation
- Welltok, Inc.
- Intel Corporation
- Nvidia Corporation
- Google Inc.
- IBM Corporation
- Microsoft Corporation
- General Vision, Inc.
- Enlitic, Inc.
- Next IT Corporation
- Others
Â
*The Company List Is Indicative
Â
LIST OF TABLES
TABLE 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 2Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 3Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL HEALTHCARE AI MARKET BY REGION (USD MILLIONS) 2020-2029
TABLE 4Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 5Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 6Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 7Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 8Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 9Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â UK HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â UK HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â UAE HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â UAE HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA HEALTHCARE AI MARKET BY APPLICATION (USD MILLIONS) 2020-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA HEALTHCARE AI MARKET BY COMPONENT (USD MILLIONS) 2020-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â GLOBAL HEALTHCARE AI MARKET BY COMPONENT, USD MILLION, 2019-2028
FIGURE 9Â Â Â Â Â Â GLOBAL HEALTHCARE AI MARKET BY APPLICATION, USD MILLION, 2019-2028
FIGURE 10Â Â Â GLOBAL HEALTHCARE AI MARKET BY REGION, USD MILLION, 2019-2028
FIGURE 11   PORTER’S FIVE FORCES MODEL
FIGURE 12Â Â Â GLOBAL HEALTHCARE AI MARKET BY COMPONENT 2020
FIGURE 13Â Â Â GLOBAL HEALTHCARE AI MARKET BY APPLICATION 2020
FIGURE 14Â Â Â HEALTHCARE AI MARKET BY REGION 2020
FIGURE 15Â Â Â MARKET SHARE ANALYSIS
FIGURE 16Â Â Â MISUMI CORPORATION: COMPANY SNAPSHOT
FIGURE 17Â Â Â WELLTOK, INC.: COMPANY SNAPSHOT
FIGURE 18Â Â Â INTEL CORPORATION: COMPANY SNAPSHOT
FIGURE 19Â Â Â NVIDIA CORPORATION: COMPANY SNAPSHOT
FIGURE 20Â Â Â GOOGLE INC.: COMPANY SNAPSHOT
FIGURE 21Â Â Â IBM CORPORATION: COMPANY SNAPSHOT
FIGURE 22Â Â Â MICROSOFT CORPORATION: COMPANY SNAPSHOT
FIGURE 23Â Â Â GENERAL VISION, INC.: COMPANY SNAPSHOT
FIGURE 24Â Â Â ENLITIC, INC.: COMPANY SNAPSHOT
FIGURE 25Â Â Â NEXT IT CORPORATION: COMPANY SNAPSHOT
FIGURE 26Â Â Â ICARBONX.: COMPANY SNAPSHOT
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