Healthcare Artificial Intelligence (AI) Market - Global Outlook & Forecast 2021-2026

Healthcare Artificial Intelligence (AI) Market - Global Outlook & Forecast 2021-2026

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Healthcare Artificial Intelligence (AI) Market Report

The healthcare artificial intelligence market is expected to reach USD 44.5 billion by 2026, growing at a CAGR of 46.21%.

Several pharmaceutical companies are implementing innovative technologies to boost their growth in the global healthcare industry. Collaboration of GSK with Exscientia identified a small compound for targeted therapeutics and its characteristics towards the specific target using the AI platform. AI is becoming an incredible platform in the pharmaceutical industry. For instance, Novartis announced Microsoft as a strategic partner in AI and data science to set up an AI innovation lab. Since the last year, over 50+ companies have got machine learning and AI algorithms approvals. During the COVID-19 pandemic, AI played a significant role in the healthcare industry. An analytics study by Accenture combined with clinical applications demonstrated the potential of AI to reduce approximately USD 150 billion per annum by 2026 in the US healthcare system.

The following factors are likely to contribute to the growth of the healthcare artificial intelligence market during the forecast period:

  • Increase in patient volume & complexities associated with data fueling demand for AI.
  • The shrinking operational workforce in healthcare facilities propelling the need for AI.
  • Technological advancement & innovations in AI influencing end-users in the market.
  • Rising Investment in advanced drug discovery & development process augmenting the adoption of AI.
KEY HIGHLIGHTS
  • The healthcare providers segment accounted for the largest market share with around 48% compared to others in 2020.
  • According to the research, Arizton estimated that APAC would witness the highest growth in the healthcare artificial intelligence (AI) market during the forecast period.
The study considers a detailed scenario of the present healthcare artificial intelligence market and its market dynamics for the period 2021−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

HEALTHCARE ARTIFICIAL INTELLIGENCE (AI) MARKET SEGMENTATION

This research report includes a detailed segmentation by
  • Category
  • Application
  • Technology
  • End-user
  • Geography
HEALTHCARE ARTIFICIAL INTELLIGENCE (AI) MARKET SEGMENTS

The software industry provides numerous services to the healthcare industry. With the advent of medical software, human errors are minimized in the global medical market. Using advanced software in healthcare enables the clinical experts to expertise their practices. Software providers are gaining huge opportunities in the healthcare artificial intelligence (AI) market. Software development companies are constantly striving to improve the industry and bring innovations.

Market Segmentation by Application
  • Hospital Workflow Management
  • Medical Imaging and Diagnosis
  • Drug Discovery and Precision Medicine
  • Patient Management
Market Segmentation by Technology
  • Machine Learning
  • Querying Method
  • Natural Language Processing
  • Others
Market Segmentation by End-users
  • Healthcare Providers
  • Pharma-biotech and medical devices companies
  • Payers
  • Others
GEOGRAPHICAL ANALYSIS

US is the major revenue generator of the healthcare artificial intelligence (AI) market across the North American region. In North America, the potential increase in AI GDP is compounded by tremendous opportunities to adopt more productive technologies.

Market Segmentation by Geography
  • North America
  • US
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Nordic Countries
  • APAC
  • China
  • India
  • Japan, Australia
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • South Africa
  • UAE
VENDOR ANALYSIS

Giant players are focusing on pursuing organic growth strategies to enhance their product portfolio in the healthcare artificial intelligence (AI) market. Several initiatives by the players will complement growth strategies, which are gaining traction among end-users in the market. Rising growth of startups collaborating with key vendors in promoting their artificial intelligence in healthcare applications creating heavy competition in the market.

Prominent Vendors
  • Google
  • IBM (International Business Machines)
  • Intel Corporation
  • Medtronic
  • Microsoft Corporation
  • Nvidia Corporation
  • Siemens Healthineers
Other Prominent Vendors
  • Arterys
  • Caption Health
  • Enlitic
  • Catalia Health
  • General Vision
  • Philips
  • Stryker
  • Shimadzu Recursion Pharmaceuticals
  • GE Healthcare
  • Remedy Medical
  • Subtle Medical
  • Netbase Quid
  • Biosymetrics
  • Sensely
  • InformAI
  • Bioclinica
  • Owkin
  • Binah.AI
  • Oncora Medical
  • Qure.AI Technologies
  • Lunit
  • Caresyntax
  • Anju software
  • Imagia Cybernetics
  • Deep Genomics
  • Welltok Inc.
  • MDLive
  • MaxQ AI
  • Qventus
  • Workfusion
KEY QUESTIONS ANSWERED:

1. How big is the healthcare artificial intelligence (AI) market?

2. Which region has the highest share in the healthcare artificial intelligence market?

3. Who are the key players in the healthcare AI market?

4. What are the latest market trends in the healthcare artificial intelligence market?

5. What is the use of AI in the healthcare market?


1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.01.01 Inclusions
4.01.02 Exclusions
4.01.03 Market Estimation Caveats
4.2 Base Year
4.3 Scope Of The Study
4.03.01 Market Segmentation By Component
4.03.02 Market Segmentation By Application
4.03.03 Market Segmentation By Technology
4.03.04 Market Segmentation By End-User
4.03.05 Market Segmentation By Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market At A Glance
7 Introduction
7.1 Healthcare Artificial Intelligence (AI)
8 Market Opportunities & Trends
8.1 Rising Investments In Advanced Drug Discovery & Development Processes
8.2 Mergers, Acquisitions, & Collaborations With Life Science & Medical Device Companies
8.3 Influx/Emergence Of Many Startups In The Healthcare AI Industry
9 Market Growth Enablers
9.1 Increase In Patient Volume & Complexities Associated With Data
9.2 Shrinking Operational Workforce In Healthcare Facilities
9.3 Technological Advancements & Innovations In AI
9.4 Growing Need To Reduce Healthcare Costs Using It & AI Technologies
10 Market Restraints
10.1 High Installation & Implementation Cost Of AI & Related Platforms
10.2 Lack Of Skilled AI Workforce & Resistance Among Healthcare Professionals
10.3 Stringent & Ambiguous Regulations For Healthcare Software & AI Technologies
10.4 Absence Of Interoperability Among Commercially Available Ai Solutions Coupled With Data Privacy Issues
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
11.03.01 Threat Of New Entrants
11.03.02 Bargaining Power Of Suppliers
11.03.03 Bargaining Power Of Buyers
11.03.04 Threat Of Substitutes
11.03.05 Competitive Rivalry
12 Component
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Hardware
12.03.01 Market Overview
12.03.02 Market Size & Forecast
12.03.03 Hardware: Geography Segmentation
12.4 Software & Services
12.04.01 Market Overview
12.04.02 Market Size & Forecast
12.04.03 Software & Services: Geography Segmentation
13 Application
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Hospital Workflow Management
13.03.01 Market Overview
13.03.02 Market Size & Forecast
13.03.03 Hospital Workflow Management: Geography Segmentation
13.4 Medical Imaging & Diagnosis
13.04.01 Market Overview
13.04.02 Market Size & Forecast
13.04.03 Medical Imaging & Diagnosis: Geography Segmentation
13.5 Drug Discovery & Precision Medicine
13.05.01 Market Overview
13.05.02 Market Size & Forecast
13.05.03 Drug Discovery & Precision Medicine: Geography Segmentation
13.6 Patient Management
13.06.01 Market Overview
13.06.02 Market Size & Forecast
13.06.03 Patient Management: Geography Segmentation
14 Technology
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Machine Learning
14.03.01 Market Overview
14.03.02 Market Size & Forecast
14.03.03 Machine Learning: Geography
14.4 Querying Method
14.04.01 Market Overview
14.04.02 Market Size & Forecast
14.04.03 Querying Method: Geography Segmentation
14.5 Natural Language Processing
14.05.01 Market Overview
14.05.02 Market Size & Forecast
14.05.03 Natural Language Processing: Geography Segmentation
14.6 Other Technology
14.06.01 Market Overview
14.06.02 Market Size & Forecast
14.06.03 Other Technology: Geography Segmentation
15 End-User
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Healthcare Providers
15.03.01 Market Overview
15.03.02 Market Size & Forecast
15.03.03 Healthcare Providers: Geography Segmentation
15.4 Pharma-Biotech & Medical Device Companies
15.04.01 Market Overview
15.04.02 Market Size & Forecast
15.04.03 Pharma-Biotech & Medical Device Companies: Geography Segmentation
15.5 Payers
15.05.01 Market Overview
15.05.02 Market Size & Forecast
15.05.03 Payers: Geography Segmentation
15.6 Others
15.06.01 Market Overview
15.06.02 Market Size & Forecast
15.06.03 Other End User: Market By Geography
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
17 North America
17.1 Market Overview
17.2 Market Size & Forecast
17.02.01 North America: Component Segmentation
17.02.02 North America: Application Segmentation
17.02.03 North America: Technology Segmentation
17.02.04 North America: End-User Segmentation
17.3 Key Countries
17.03.01 Us: Market Size & Forecast
17.03.02 Canada: Market Size & Forecast
18 Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.02.01 Europe: Component Segmentation
18.02.02 Europe: Application Segmentation
18.02.03 Europe: Technology Segmentation
18.02.04 Europe: End-User Segment
18.3 Key Countries
18.03.01 Germany: Market Size & Forecast
18.03.02 UK: Market Size & Forecast
18.03.03 France: Market Size & Forecast
18.03.04 Italy: Market Size & Forecast
18.03.05 Spain: Market Size & Forecast
18.03.06 Nordics: Market Size & Forecast
19 APAC
19.1 Market Overview
19.2 Market Size & Forecast
19.02.01 APAC: Component Segmentation
19.02.02 APAC: Application Segmentation
19.02.03 APAC: Technology Segmentation
19.02.04 APAC: End-User Segmentation
19.3 Key Countries
19.03.01 China: Market Size & Forecast
19.03.02 India: Market Size & Forecast
19.03.03 Japan: Market Size & Forecast
19.03.04 Australia: Market Size & Forecast
19.03.05 South Korea: Market Size & Forecast
20 Latin America
20.1 Market Overview
20.2 Market Size & Forecast
20.02.01 Latin America: Component Segmentation
20.02.02 Latin America: Application Segmentation
20.02.03 Latin America: Technology Segmentation
20.02.04 Latin America: End-User Segmentation
20.3 Key Countries
20.03.01 Brazil: Market Size & Forecast
20.03.02 Mexico: Market Size & Forecast
20.03.03 Argentina: Market Size & Forecast
21 Middle East & Africa
21.1 Market Overview
21.2 Market Size & Forecast
21.02.01 Middle East & Africa: Component Segmentation
21.02.02 Middle East & Africa: Application Segmentation
21.02.03 Middle East & Africa: Technology Segmentation
21.02.04 Middle East & Africa: End-User Segmentation
21.3 Key Countries
21.03.01 Turkey: Market Size & Forecast
21.03.02 Saudi Arabia: Market Size & Forecast
21.03.03 South Africa: Market Size & Forecast
21.03.04 UAE: Market Size & Forecast
22 Competitive Landscape
22.1 Competition Overview
22.2 Market Share Analysis
22.02.01 Google
22.02.02 IBM
22.02.03 Intel
22.02.04 Medtronic
22.02.05 Microsoft
22.02.06 NVIDIA
22.02.07 Siemens Healthineers
23 Key Company Profiles
23.1 GOOGLE
23.01.01 Business Overview
23.01.02 Product Offerings
23.01.03 Key Strategies
23.01.04 Key Strengths
23.01.05 Key Opportunities
23.2 INTERNATIONAL BUSINESS MACHINES (IBM)
23.02.01 Business Overview
23.02.02 Product Offerings
23.02.03 Key Strategies
23.02.04 Key Strengths
23.02.05 Key Opportunities
23.3 INTEL CORPORATION
23.03.01 Business Overview
23.03.02 Product Offerings
23.03.03 Key Strategies
23.03.04 Key Strengths
23.03.05 Key Opportunities
23.4 MEDTRONIC
23.04.01 Business Overview
23.04.02 Product Offerings
23.04.03 Key Strategies
23.04.04 Key Strengths
23.04.05 Key Opportunities
23.5 MICROSOFT CORPORATION
23.05.01 Business Overview
23.05.02 Product Offerings
23.05.03 Key Strategies
23.05.04 Key Strengths
23.05.05 Key Opportunities
23.6 NVIDIA CORPORATION
23.06.01 Business Overview
23.06.02 Product Offerings
23.06.03 Key Strategies
23.06.04 Key Strengths
23.06.05 Key Opportunities
23.7 SIEMENS HEALTHINEERS
23.07.01 Business Overview
23.07.02 Product Offerings
23.07.03 Key Strategies
23.07.04 Key Strengths
23.07.05 Key Opportunities
24 Other Prominent Vendors
24.1 ARTERYS
24.01.01 Business Overview
24.01.02 Product Offerings
24.2 CAPTION HEALTH
24.02.01 Business Overview
24.02.02 Product Offerings
24.3 ENLITIC
24.03.01 Business Overview
24.03.02 Product Offerings
24.4 CATALIA HEALTH
24.04.01 Business Overview
24.04.02 Product Offerings
24.5 GENERAL VISION
24.05.01 Business Overview
24.05.02 Product Offerings
24.6 PHILIPS
24.06.01 Business Overview
24.06.02 Product Offerings
24.7 STRYKER
24.07.01 Business Overview
24.07.02 Product Offerings
24.8 SHIMADZU RECURSION PHARMACEUTICALS
24.08.01 Business Overview
24.08.02 Product Offerings
24.9 GE HEALTHCARE
24.09.01 Business Overview
24.09.02 Product Offerings
24.10 REMEDY MEDICAL
24.10.01 Business Overview
24.10.02 Product Offerings
24.11 SUBTLE MEDICAL
24.11.01 Business Overview
24.11.02 Product Offerings
24.12 NETBASE QUID
24.12.01 Business Overview
24.12.02 Product Offerings
24.13 BIOSYMETRICS
24.13.01 Business Overview
24.13.02 Product Offerings
24.14 SENSELY
24.14.01 Business Overview
24.14.02 Product Offerings
24.15 INFORMAI
24.15.01 Business Overview
24.15.02 Product Offerings
24.16 BIOCLINICA
24.16.01 Business Overview
24.16.02 Product Offerings
24.17 OWKIN
24.17.01 Business Overview
24.17.02 Product Offerings
24.18 BINAH.AI
24.18.01 Business Overview
24.18.02 Product Offerings
24.19 ONCORA MEDICAL
24.19.01 Business Overview
24.19.02 Product Offerings
24.20 QURE.AI TECHNOLOGIES
24.20.01 Business Overview
24.20.02 Product Offerings
24.21 LUNIT
24.21.01 Business Overview
24.21.02 Product Offerings
24.22 CARESYNTAX
24.22.01 Business Overview
24.22.02 Product Offerings
24.23 ANJU SOFTWARE
24.23.01 Business Overview
24.23.02 Product Offerings
24.24 IMAGIA CYBERNETICS
24.24.01 Business Overview
24.24.02 Product Offerings
24.25 DEEP GENOMICS
24.25.01 Business Overview
24.25.02 Product Offerings
24.26 WELLTOK INC.
24.26.01 Business Overview
24.26.02 Product Offerings
24.27 MDLIVE
24.27.01 Business Overview
24.27.02 Product Offerings
24.28 MAXQ AI
24.28.01 Business Overview
24.28.02 Product Offerings
24.29 QVENTUS
24.29.01 Business Overview
24.29.02 Product Offerings
24.30 WORKFUSION
24.30.01 Business Overview
24.30.02 Product Offerings
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Market By Component
26.01.01 North America: Component Segmentation
26.01.02 Europe: Component Segmentation
26.01.03 Apac: Component Segmentation
26.01.04 Latin America: Component Segmentation
26.01.05 Middle East & Africa: Component Segmentation
26.2 Market By Application
26.02.01 North America: Application Segmentation
26.02.02 Europe: Application Segmentation
26.02.03 Apac: Application Segmentation
26.02.04 Latin America: Application Segmentation
26.02.05 Middle East & Africa: Application Segmentation
26.3 Market By Technology
26.03.01 North America: Technology Segmentation
26.03.02 Europe: Technology Segmentation
26.03.03 Apac: Technology Segmentation
26.03.04 Latin America: Technology Segmentation
26.03.05 Middle East & Africa: Technology Segmentation
26.4 Market By End-User
26.04.01 North America: End-User Segmentation
26.04.02 Europe: End-User Segmentation
26.04.03 Apac: End-User Segmentation
26.04.04 Latin America: End-User Segmentation
26.04.05 Middle East & Africa: End-User Segmentation
26.5 Market By Geography
26.05.01 Hardware: Geography Segmentation
26.05.02 Software & Services: Geography Segmentation
26.05.03 Hospital Workflow Management: Geography Segmentation
26.05.04 Medical Imaging & Diagnosis: Geography Segmentation
26.05.05 Drug Discovery & Precision Medicine: Geography Segmentation
26.05.06 Patient Management: Geography Segmentation
26.05.07 Machine Learning: Geography Segmentation
26.05.08 Querying Method: Geography Segmentation
26.05.09 Natural Language Processing: Geography Segmentation
26.05.10 Other Technologies: Geography Segmentation
26.05.11 Healthcare Providers: Geography Segmentation
26.05.12 Pharma-Biotech & Medical Device Companies: Geography Segmentation
26.05.13 Payers: Geography Segmentation
26.05.14 Other End-Users: Geography Segmentation
27 Appendix
27.1 Abbreviations

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