Artificial Intelligence in Healthcare Market - Insights for Business Growth Report 2024-2032

Artificial Intelligence in Healthcare Market Synopsis:

Artificial Intelligence in Healthcare Market Size Was Valued at USD 19.29 Billion in 2023, and is Projected to Reach USD 324.74 Billion by 2032, Growing at a CAGR of 36.85 % From 2024-2032.

It refers to an integration of modern technologies such as machine learning, NLP, CV, and robotics into the health care in an effort to reformulate the flow of health care services. Many applications of AI in the subject of healthcare: patient outcome satisfaction, fast disease identification, organization, and increase in the discovery of new drugs. Regarding the AI technologies, the latter support clinician decision-making and provide the best outcomes within certain directions such as radiology, oncology, pathology, and big data tracking of patients.

Market of AI in Healthcare is growing gradually due to the need in proper healthcare and the trends in the decrease of costs and implementation of innovative technologies. AI has become one of the promising directions taking into account the healthcare organizations of the world which deals with the growing patient load and the definition of the degree of accuracy of diagnostics along with resources. Using intelligent technologies, the healthcare segment is capable to diagnose diseases much quicker and accurately than by using customary procedures. The patients’ need is exactly addressed by Virtual diagnosis, treatment planning with virtual tools and almost everything else; the fewer mistakes made the better the clinical result would be. They have supported the use of AI in healthcare enhancement, with encouragement from government and other private sources of funding.

The given market expansion is born at the costs of patient focus and the potential for utilizing AI solutions that may help to relieve the burden on doctors and other health care employees. COVID-19 pandemic made AI useful in the healthcare sector in the following ways including; exposure to infection risks, predicting the disease spread, and various services support in telemedicine services. The government has laid the better ground in making cooperation between technical companies and health care organizations who have developed better artificial intelligence technologies that have led to better quality, availability, and efficiency in the health care facilities. However, it emerge as crucial issue of conversation since governments try to associate AI with ethical and privateness issues to bring AI additions in accordance with the outlined standards of protection of sufferers and their records for security in care.

Artificial Intelligence in Healthcare Market Trend Analysis:

Rise of AI-Powered Predictive Analytics in Healthcare

• The added use of predictive analysis is continuing to evolve at an exemplary pace in the AI in Healthcare Market and the healthcare organization are leveraging the power of AI to forecast the patient’s prognosis, the potential of getting down with a specific disease, and predicting the effectiveness of the particular treatments. Using the genomics, clinical, and environment data of the patient and coupling all this with machine learning, the doctor depicts the kind of decisions about the patent. This is particularly so in chronic disease where risk estimation helps identify clients who are likely to be in high-risk group that needs early attention. Hospitals are also using the application of AI based analytics for the type of the forecast of resources that could be used to manage the patient traffic for operations. The reinforcement of analysis within operating healthcare structures shows that application of predictive analytics as one of the artificial intelligence applications will be a focal point in near future and revolutionise the aspects of patient care as well as utilization of the resources.

Increasing Demand for Virtual Health Assistants

• For these reasons, the concept of rising and growing demand for virtual health assistants based on artificial intelligence trends observed in the healthcare market. The more progressive tools put into practice for using the AI are available at all times, always, the tools help with checking the symptoms and even booking an appointment to get checked and lots more with little help needed, to make healthcare a lot easier and more accessible. As it is expected that there might be a virtual assistant who will be handling many inquiries it will take many other intensive tasks that require personal care away from the healthcare providers. That virtual health assistants can sort the cases and could improve services in triage is evident from the growth of telemedicine. This is much desirable so in the rural areas or other hard-to-reach regions accessing the practitioners may not be as easy. The progress of electronic health care services is ongoing which mean the virtual integrated health helpers will also always adapt to fit in the growth sector of this AI in the Healthcare Industry

Artificial Intelligence in Healthcare Market Segment Analysis:

Artificial Intelligence in Healthcare Market is Segmented on the basis of Component, Technology, End User, and Region.

By Component, Hardware, segment is expected to dominate the market during the forecast period

• On analysis by the component, the market for hardware is expected to dominate the market of AI in Healthcare over the next few years. When it comes to processing complex algorithms that are in motion within realms of health care, the devices parts including, AI processors, GPUs, and the other chips are very essential. They assist to improve the manner in which large data is analyzed as well as the artificial intelligence programmes prevalent in diagnoses, imaging and patients care. These developments have been made even more possible by the ever-growing need for edge AI devices to perform computations on or near the data instead of in the large data centers. The demand for new and sophisticated diagnostic machines that use AI and wearable devices for patients’ continuous monitoring in healthcare establishments should warrant growth in this segment because such hardware requires efficiency in the processing of huge data, besides providing real-time assessments.

By Technology, the Speech recognition segment expected to held the largest share

• Technology wise, the speech recognition segment is expected to play the biggest part in the global AI in healthcare market. Speech recognition has been applied in the health care system to achieve voice to text to type the word, to keep records and to free hand from the data entry work. This technology make it easier for healthcare providers in a simpler and less time-consuming way to capture patient data and hence better patient care. Also, the adopted technology of telemedicine needs speech recognition for enhancing the utilization of patient-physician consultations and other consultations through remote means. New incorporation to clinical practice of speech recognition technologies is currently offering more effective and functional performance as calculated by natural language processing. The potential this technology has to enhance the quality and quantity of good documentation as well as enhance the patients/providers’ communication makes it one of the key drivers of introduction to artificial intelligence into the health care sector.

Artificial Intelligence in Healthcare Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• The market for AI in healthcare across North America is expected to impact the market over the following years because of proper healthcare facilities, better utilization, and higher amounts spent on healthcare technology. The USA and many other countries have incorporated the use of artificial intelligence in the progress of the healthcare industry. These reimbursement schemes and funding of the digital change for health care has enhanced the implementation of the technology through escalation by the governments. The AI solutions currently implemented in the sector of the healthcare in North America consist, amongst others, of medical image interpretation for the prediction and analysis prior to the clinical trials and diagnostic and further therapeutic measures.
• High prevalence of chronic illnesses, a growing population of people of advancing age, and expensive treatment are also fueling the uptake of AI in North America. Where POC diagnostic tools are required for containment of patient flow, or to enhance clinical outcomes for patient needs, AI offers solutions to such problems. Also similar to the above, Canada is witnessing increasingly growing adoption of AI influenced healthcare solutions and in particular a notable application was outlined in AI supported remote patient monitoring and telehealth which helps bridge the healthcare gap by serving the rural population. Another on the list, which contribute to the favorable environment for AI in healthcare, is the existence of stringent legal requirements in North America that encourage the new technology’s development with a baseline of ethical principles.

Active Key Players in the Artificial Intelligence in Healthcare Market:

• Atom wise (USA)
• Babylon Health (UK)
• Benevolent AI (UK)
• Butterfly Network, Inc. (USA)
• CloudMedx (USA)
• Enlitic, Inc. (USA)
• GE Healthcare (USA)
• Google Health (USA)
• IBM Watson Health (USA)
• Intel Corporation (USA)
• Microsoft Corporation (USA)
• NVIDIA Corporation (USA)
• PathAI (USA)
• Tempus Labs (USA)
• Zebra Medical Vision (Israel)
• Other Active Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Artificial Intelligence in Healthcare Market by Component
 4.1 Artificial Intelligence in Healthcare Market Snapshot and Growth Engine
 4.2 Artificial Intelligence in Healthcare Market Overview
 4.3 Hardware
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Hardware: Geographic Segmentation Analysis
 4.4 Software
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Software: Geographic Segmentation Analysis
 4.5 Service
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Service: Geographic Segmentation Analysis

Chapter 5: Artificial Intelligence in Healthcare Market by Technology
 5.1 Artificial Intelligence in Healthcare Market Snapshot and Growth Engine
 5.2 Artificial Intelligence in Healthcare Market Overview
 5.3 Speech recognition
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Speech recognition: Geographic Segmentation Analysis
 5.4 Natural language processing
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Natural language processing: Geographic Segmentation Analysis
 5.5 Machine learning
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Machine learning: Geographic Segmentation Analysis
 5.6 Context-Aware Processing
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Context-Aware Processing: Geographic Segmentation Analysis

Chapter 6: Artificial Intelligence in Healthcare Market by End User
 6.1 Artificial Intelligence in Healthcare Market Snapshot and Growth Engine
 6.2 Artificial Intelligence in Healthcare Market Overview
 6.3 Hospitals and Clinics
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Hospitals and Clinics: Geographic Segmentation Analysis
 6.4 Medical Device companies
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Medical Device companies: Geographic Segmentation Analysis
 6.5 Diagnostic Centers
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Diagnostic Centers: Geographic Segmentation Analysis
 6.6 Others
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Artificial Intelligence in Healthcare Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions  
 7.2 ATOMWISE (USA)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 BABYLON HEALTH (UK)
 7.4 BENEVOLENT AI (UK)
 7.5 BUTTERFLY NETWORK INC. (USA)
 7.6 CLOUDMEDX (USA)
 7.7 ENLITIC INC. (USA)
 7.8 GE HEALTHCARE (USA)
 7.9 GOOGLE HEALTH (USA)
 7.10 IBM WATSON HEALTH (USA)
 7.11 INTEL CORPORATION (USA)
 7.12 MICROSOFT CORPORATION (USA)
 7.13 NVIDIA CORPORATION (USA)
 7.14 PATHAI (USA)
 7.15 TEMPUS LABS (USA)
 7.16 ZEBRA MEDICAL VISION (ISRAEL)
 7.17 OTHER ACTIVE PLAYERS

Chapter 8: Global Artificial Intelligence in Healthcare Market By Region
 8.1 Overview
 8.2. North America Artificial Intelligence in Healthcare Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Component
  8.2.4.1 Hardware
  8.2.4.2 Software
  8.2.4.3 Service
  8.2.5 Historic and Forecasted Market Size By Technology
  8.2.5.1 Speech recognition
  8.2.5.2 Natural language processing
  8.2.5.3 Machine learning
  8.2.5.4 Context-Aware Processing
  8.2.6 Historic and Forecasted Market Size By End User
  8.2.6.1 Hospitals and Clinics
  8.2.6.2 Medical Device companies
  8.2.6.3 Diagnostic Centers
  8.2.6.4 Others
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe Artificial Intelligence in Healthcare Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Component
  8.3.4.1 Hardware
  8.3.4.2 Software
  8.3.4.3 Service
  8.3.5 Historic and Forecasted Market Size By Technology
  8.3.5.1 Speech recognition
  8.3.5.2 Natural language processing
  8.3.5.3 Machine learning
  8.3.5.4 Context-Aware Processing
  8.3.6 Historic and Forecasted Market Size By End User
  8.3.6.1 Hospitals and Clinics
  8.3.6.2 Medical Device companies
  8.3.6.3 Diagnostic Centers
  8.3.6.4 Others
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Russia
  8.3.7.2 Bulgaria
  8.3.7.3 The Czech Republic
  8.3.7.4 Hungary
  8.3.7.5 Poland
  8.3.7.6 Romania
  8.3.7.7 Rest of Eastern Europe
 8.4. Western Europe Artificial Intelligence in Healthcare Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Component
  8.4.4.1 Hardware
  8.4.4.2 Software
  8.4.4.3 Service
  8.4.5 Historic and Forecasted Market Size By Technology
  8.4.5.1 Speech recognition
  8.4.5.2 Natural language processing
  8.4.5.3 Machine learning
  8.4.5.4 Context-Aware Processing
  8.4.6 Historic and Forecasted Market Size By End User
  8.4.6.1 Hospitals and Clinics
  8.4.6.2 Medical Device companies
  8.4.6.3 Diagnostic Centers
  8.4.6.4 Others
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 The Netherlands
  8.4.7.5 Italy
  8.4.7.6 Spain
  8.4.7.7 Rest of Western Europe
 8.5. Asia Pacific Artificial Intelligence in Healthcare Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Component
  8.5.4.1 Hardware
  8.5.4.2 Software
  8.5.4.3 Service
  8.5.5 Historic and Forecasted Market Size By Technology
  8.5.5.1 Speech recognition
  8.5.5.2 Natural language processing
  8.5.5.3 Machine learning
  8.5.5.4 Context-Aware Processing
  8.5.6 Historic and Forecasted Market Size By End User
  8.5.6.1 Hospitals and Clinics
  8.5.6.2 Medical Device companies
  8.5.6.3 Diagnostic Centers
  8.5.6.4 Others
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Artificial Intelligence in Healthcare Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Component
  8.6.4.1 Hardware
  8.6.4.2 Software
  8.6.4.3 Service
  8.6.5 Historic and Forecasted Market Size By Technology
  8.6.5.1 Speech recognition
  8.6.5.2 Natural language processing
  8.6.5.3 Machine learning
  8.6.5.4 Context-Aware Processing
  8.6.6 Historic and Forecasted Market Size By End User
  8.6.6.1 Hospitals and Clinics
  8.6.6.2 Medical Device companies
  8.6.6.3 Diagnostic Centers
  8.6.6.4 Others
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkiye
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America Artificial Intelligence in Healthcare Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Component
  8.7.4.1 Hardware
  8.7.4.2 Software
  8.7.4.3 Service
  8.7.5 Historic and Forecasted Market Size By Technology
  8.7.5.1 Speech recognition
  8.7.5.2 Natural language processing
  8.7.5.3 Machine learning
  8.7.5.4 Context-Aware Processing
  8.7.6 Historic and Forecasted Market Size By End User
  8.7.6.1 Hospitals and Clinics
  8.7.6.2 Medical Device companies
  8.7.6.3 Diagnostic Centers
  8.7.6.4 Others
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research