Artificial Intelligence in Healthcare Market by Technology, Offering, Application, End User

Description

List of Tables

The Artificial Intelligence in Healthcare Market was valued at USD 25.91 billion in 2023, expected to reach USD 32.48 billion in 2024, and is projected to grow at a CAGR of 26.95%, to USD 137.74 billion by 2030.

The scope of artificial intelligence (AI) in healthcare encompasses a broad range of applications, including diagnostics, treatment personalizations, and predictive analytics. It aims to enhance patient outcomes by leveraging data-driven insights and automating routine tasks. AI is necessitated by the increasing demand for efficient healthcare solutions, rising patient data volumes, and the need to reduce operational costs. Key applications include automated imaging analysis, predictive analytics for disease outbreak tracking, personalized medicine, and virtual health assistants. End-use spans hospitals, research institutions, and insurance companies aiming to improve patient care, streamline workflows, and foster preventive healthcare measures.

KEY MARKET STATISTICS
Base Year [2023]	USD 25.91 billion
Estimated Year [2024]	USD 32.48 billion
Forecast Year [2030]	USD 137.74 billion
CAGR (%)	26.95%

Market growth is influenced by advancements in machine learning algorithms, increasing adoption of digital health solutions, and supportive government policies. The integration of AI with telemedicine, further accelerated by the COVID-19 pandemic, presents significant growth opportunities. Healthcare AI startups and established tech giants are investing heavily in R&D, paving the way for innovative solutions addressing chronic disease management and patient monitoring. However, challenges such as data privacy concerns, high initial costs, and a shortage of skilled AI professionals may hinder growth. There are also regulatory hurdles and ethical considerations. Interoperability issues between AI systems and existing healthcare IT infrastructures further limit seamless adoption.

In terms of innovation, areas like AI-driven drug discovery, personalized genomics, and real-time health monitoring via wearable technology promise substantial transformation. Businesses should focus on partnerships and collaborations with healthcare providers to co-develop tailored AI solutions. Investing in AI literacy and training programs for healthcare professionals can bridge skill gaps, ensuring smoother technology adoption. Similarly, reinforcing robust data governance and privacy protection measures can alleviate stakeholders' concerns, fostering trust in AI deployments. Overall, the AI healthcare market remains dynamic, driven by technology advancements and a growing focus on patient-centric care, offering ripe opportunities for stakeholders willing to navigate its inherent complexities.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Artificial Intelligence in Healthcare Market

The Artificial Intelligence in Healthcare Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising emphasis on digitalization of health records
- Government initiatives encouraging use of AI in healthcare
- Increasing preference for personalized medicine
Market Restraints
- Technical complications of AI in healthcare
Market Opportunities
- Advancements in AI algorithms and technologies to improve healthcare
- Emerging startup ecosystem with attractive funding potential
Market Challenges
- Data privacy and security concerns

Porter's Five Forces: A Strategic Tool for Navigating the Artificial Intelligence in Healthcare Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Artificial Intelligence in Healthcare Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Artificial Intelligence in Healthcare Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Artificial Intelligence in Healthcare Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Artificial Intelligence in Healthcare Market

A detailed market share analysis in the Artificial Intelligence in Healthcare Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Artificial Intelligence in Healthcare Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Artificial Intelligence in Healthcare Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Artificial Intelligence in Healthcare Market

A strategic analysis of the Artificial Intelligence in Healthcare Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Artificial Intelligence in Healthcare Market, highlighting leading vendors and their innovative profiles. These include Ada Health GmbH, AiCure, LLC, AllStripes Research Inc., Aspen Technology Inc. by Emerson Electric Co., Atomwise Inc., Augmedix, Inc., Babylon Healthcare Services Ltd., Behold.ai Technologies Limited, Binah.ai, BioSymetrics Inc., BPGbio Inc., Butterfly Network, Inc., Clarius Mobile Health Corp., Clinithink Limited, ClosedLoop.ai Inc., Corti ApS, Cyrcardia Asia Limited, Datature.io, Deep Genomics Incorporated, Diabeloop SA, Enlitic, Inc., GE Healthcare, General Vision Inc., Google, LLC by Alphabet, Inc., iCarbonX, Intel Corporation, International Business Machines Corporation, Koninklijke Philips N.V., Medasense Biometrics Ltd., Microsoft Corporation, Modernizing Medicine, Inc., Nanox Imaging Ltd., NetBase Quid, Inc., Novo Nordisk A/S, NVIDIA Corporation, Oncora Medical, Oracle Corporation, Owkin, Inc., Oxipit.ai, R1 RCM, Inc., Recursion Pharmaceuticals, Sanofi SA, Sensely, Inc., Shanghai Yitu Technology Co., Ltd., Siemens Healthineers AG, SkinvVision B.V., Subtle Medical, Inc., Tempus Labs, Inc., Turbine Ltd., and Woebot Health.

Market Segmentation & Coverage

This research report categorizes the Artificial Intelligence in Healthcare Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Technology, market is studied across Computer Vision, Context-Aware Computing, Machine Learning, Natural Language Processing, and Querying Method.
Based on Offering, market is studied across Hardware, Services, and Software. The Hardware is further studied across Memory, Network, and Processor. The Processor is further studied across Application-Specific Integrated Circuit, Field Programmable Gate Arrays, Graphics Processing Unit, and Memory Protection Unit. The Services is further studied across Deployment & Integration and Support & Maintenance.
Based on Application, market is studied across Clinical Trial Participant Identifier, Cybersecurity, Drug Discovery, Emergency Room & Robot-Assisted Surgery, Fraud Detection, Healthcare Assistance Robots, Inpatient Care & Hospital Management, Lifestyle Management & Monitoring, Medical Imaging & Diagnostics, Patient Data & Risk Analysis, Precision Medicine, Research, Virtual Assistant, and Wearables.
Based on End User, market is studied across Healthcare Payers, Hospitals & Providers, Patients, and Pharmaceutical & Biotechnology Companies.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-031BF22F9550

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising emphasis on digitalization of health records
  - 5.1.1.2. Government initiatives encouraging use of AI in healthcare
  - 5.1.1.3. Increasing preference for personalized medicine
- 5.1.2. Restraints
  - 5.1.2.1. Technical complications of AI in healthcare
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in AI algorithms and technologies to improve healthcare
  - 5.1.3.2. Emerging startup ecosystem with attractive funding potential
- 5.1.4. Challenges
  - 5.1.4.1. Data privacy and security concerns
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Exponential adoption of machine learning patterns for drug discovery and personalized treatment recommendations
- 5.2.2. End-User: Increasing utilization of AI for AI for drug discovery and research
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Artificial Intelligence in Healthcare Market, by Technology

6.1. Introduction
6.2. Computer Vision
6.3. Context-Aware Computing
6.4. Machine Learning
6.5. Natural Language Processing
6.6. Querying Method

7. Artificial Intelligence in Healthcare Market, by Offering

7.1. Introduction
7.2. Hardware
- 7.2.1. Memory
- 7.2.2. Network
- 7.2.3. Processor
  - 7.2.3.1. Application-Specific Integrated Circuit
  - 7.2.3.2. Field Programmable Gate Arrays
  - 7.2.3.3. Graphics Processing Unit
  - 7.2.3.4. Memory Protection Unit
7.3. Services
- 7.3.1. Deployment & Integration
- 7.3.2. Support & Maintenance
7.4. Software

8. Artificial Intelligence in Healthcare Market, by Application

8.1. Introduction
8.2. Clinical Trial Participant Identifier
8.3. Cybersecurity
8.4. Drug Discovery
8.5. Emergency Room & Robot-Assisted Surgery
8.6. Fraud Detection
8.7. Healthcare Assistance Robots
8.8. Inpatient Care & Hospital Management
8.9. Lifestyle Management & Monitoring
8.10. Medical Imaging & Diagnostics
8.11. Patient Data & Risk Analysis
8.12. Precision Medicine
8.13. Research
8.14. Virtual Assistant
8.15. Wearables

9. Artificial Intelligence in Healthcare Market, by End User

9.1. Introduction
9.2. Healthcare Payers
9.3. Hospitals & Providers
9.4. Patients
9.5. Pharmaceutical & Biotechnology Companies

10. Americas Artificial Intelligence in Healthcare Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Artificial Intelligence in Healthcare Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Artificial Intelligence in Healthcare Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. GE HealthCare Launches AI-Powered Innovations to Shape the Future of Healthcare
- 13.3.2. HEALWELL AI to Acquire Intrahealth to Create Next Generation AI-powered EHR
- 13.3.3. HEALWELL AI Completes Acquisition of 'Pentavere,' a Healthcare AI and Data Science Company
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Ada Health GmbH
2. AiCure, LLC
3. AllStripes Research Inc.
4. Aspen Technology Inc. by Emerson Electric Co.
5. Atomwise Inc.
6. Augmedix, Inc.
7. Babylon Healthcare Services Ltd.
8. Behold.ai Technologies Limited
9. Binah.ai
10. BioSymetrics Inc.
11. BPGbio Inc.
12. Butterfly Network, Inc.
13. Clarius Mobile Health Corp.
14. Clinithink Limited
15. ClosedLoop.ai Inc.
16. Corti ApS
17. Cyrcardia Asia Limited
18. Datature.io
19. Deep Genomics Incorporated
20. Diabeloop SA
21. Enlitic, Inc.
22. GE Healthcare
23. General Vision Inc.
24. Google, LLC by Alphabet, Inc.
25. iCarbonX
26. Intel Corporation
27. International Business Machines Corporation
28. Koninklijke Philips N.V.
29. Medasense Biometrics Ltd.
30. Microsoft Corporation
31. Modernizing Medicine, Inc.
32. Nanox Imaging Ltd.
33. NetBase Quid, Inc.
34. Novo Nordisk A/S
35. NVIDIA Corporation
36. Oncora Medical
37. Oracle Corporation
38. Owkin, Inc.
39. Oxipit.ai
40. R1 RCM, Inc.
41. Recursion Pharmaceuticals
42. Sanofi SA
43. Sensely, Inc.
44. Shanghai Yitu Technology Co., Ltd.
45. Siemens Healthineers AG
46. SkinvVision B.V.
47. Subtle Medical, Inc.
48. Tempus Labs, Inc.
49. Turbine Ltd.
50. Woebot Health