Worldwide Healthcare AI Market [Lifestyle Management, Data and Risk Analytics, Medical Imaging, Mental Health, Virtual Assistants, Emergency Room and Hospital Management, Drug Discovery, Nutrition, Wearables]: Market Size and Forecasts (2017 - 2022)
Arcluster’s report on the Healthcare AI market provides an in-depth analysis of the market size, forecasts, and opportunities of Healthcare AI catering to the ten key segments – Lifestyle Management and Monitoring, Data and Risk Analytics, Medical Imaging and Diagnostics, Mental health, Virtual Assistants, Emergency Room and Hospital Management, Drug Discovery, Nutrition, Wearables, and Others. The study also includes market analysis of these Healthcare AI segments across five regions – North America, Europe, Asia-Pacific, Central America, and Latin America (CALA), and Middle-East and Africa (MEA).
Arcluster’s Healthcare AI market report also includes insights into key market requirements gathered from hospitals, clinics, doctors, therapists, counsellors, medical professionals, manufacturers, suppliers, regulators, agencies, and other entities. The report also provides their preferences, priorities, and perception of adoption of Healthcare AI across regions. The analysis in this report will help market participants, vendors, suppliers, distributors, and resellers to develop strategies, marketing goals and business decisions based on the actionable market intelligence from this report.
This report has been built on a rigorous period of information gathering from both secondary and primary sources through several interviews across the supply and demand side of the healthcare AI ecosystem.
Data gathered from these interviews and surveys was curated, analyzed, and engineered to understand buying, spending, demand, and supply patterns and to estimate market sizes and forecasts. The resultant data was checked for applicability across value chains through market-data associations and then further validated through multiple check points to check consistencies, error samples, variances.
Some Questions answered in the Report
- What is the market size of AI in Healthcare in 2017?
- What is the market opportunity for AI in Healthcare over the next 5 years?
- What are the different market segments and how much is the revenue forecast in each segment?
- What are the companies in this space and what do they offer?
Global population is set to reach 10 billion over the next 30 years. Healthcare as a core industry is here to stay, in fact, it is set to significantly grow in the future. In parallel, technology adoption across multiple industries is going through a rapid growth phase. One of the technologies that has increasingly created the hype around multiple vertical disruption is Artificial Intelligence (AI). AI and machine learning (ML) technologies have gradually found real-world applications in traditional industries.
The use of AI, ML, and big data technologies to efficiently identify key data sets is a major driver for accelerating research efforts in the healthcare sector. When data gets democratized, it quickens a variety of processes and functions such as drug development, patient care, insurance, new therapies, early illness detection among several others. The advent of AI has direct implications on the healthcare ecosystem. Multiple functions such as medical imaging and diagnostics, emergency room and hospital management, and drug discovery are set to be enabled with AI-driven systems that will not only increase operational efficiencies but also deliver better and faster care. Without the need for severe capex and investment to deploy, AI becomes an auto-fueled engine for growth across healthcare functions and processes.
Regulations are another factor in the mass market adoption of Healthcare AI. Administrations across the world are evaluating issues with respect to privacy and security of the data that is attached with the technologies. With an increasing number of medical professionals, and institutions keen to adopt digital healthcare solutions, systems and services, marketplace acceptance of AI in the healthcare sector can be expected to pick up pace over the forecast period.
The digital disruption of the traditional healthcare industry through AI and data comes with multiple benefits and a few challenges. AI could be pervasive across the industry in the future and the forecast period marks the initial push towards this. The market opportunity for Healthcare AI across the globe is considerable and offers a stable and steady opportunity for technology firms and healthcare solutions, systems, and services vendors. Arcluster forecasts this market to reach $5.51 billion in revenues in 2022.