Artificial Intelligence in Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Artificial Intelligence in Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global artificial intelligence in healthcare market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.9 Billion by 2028, exhibiting a growth rate (CAGR) of 29.8% during 2023-2028.

Artificial intelligence (AI) in healthcare is utilized for managing and analyzing data for performing clinical diagnosis and suggesting appropriate treatment plans for an ailment. It uses various software and sophisticated algorithms to evaluate symptoms and patterns of diseases while providing better guidance, feedback and support to the healthcare providers. Apart from this, systems equipped with AI can provide digital and virtual consultations to patients, offer drug creation and management facilities, and healthcare analysis through smart wearable devices.

Artificial Intelligence in Healthcare Market Trends:

The increasing utilization of robots for surgical and rehabilitation procedures in the healthcare industry is one of the key factors driving the growth of the market. Robots can efficiently conduct minimally invasive (MI) surgeries for neurologic, orthopedic and laparoscopic procedures. Furthermore, the emerging trend of digitalization in the healthcare sector is also providing a boost to the market. Various medical devices and systems are being equipped with AI for convenient and secure management of data. This further aids in generating patient-specific information which is utilized for providing personalized diagnostic and pharmaceutical services. The market is also being driven by the rising geriatric population and their increasing dependence on healthcare services. AI is largely being integrated into elderly care products, such as smart devices for assisted living, fall detection and virtual companions. These empathic robots can also provide care to physically and mentally challenged patients, while industrial robots are used to perform various routine tasks in healthcare centers. Other factors, including enhanced research and development (R&D), along with favorable healthcare policies by governments of several nations, are projected to drive the market in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial intelligence in healthcare market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on offering, technology, application and end-user.

Breakup by Offering:

Hardware
Software
Services

Breakup by Technology:

Machine Learning
Context-Aware Computing
Natural Language Processing
Others


Breakup by Application:

Robot-Assisted Surgery
Virtual Nursing Assistant
Administrative Workflow Assistance
Fraud Detection
Dosage Error Reduction
Clinical Trial Participant Identifier
Preliminary Diagnosis
Others


Breakup by End-User:

Healthcare Providers
Pharmaceutical and Biotechnology Companies
Patients
Others

Breakup by Region:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa


Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Amazon Web Services Inc., Cloudmedx Inc., DeepMind, Enlitic Inc., General Vision Inc., Google Inc., International Business Machines, iCarbonX, Intel Corporation, Medtronic, Micron Technology Inc., Microsoft Corporation, Next It Corporation, Nuance Communications Inc., Nvidia Corporation, Siemens Healthcare, Welltok Inc., etc.

Key Questions Answered in This Report:

What was the size of the global artificial intelligence in healthcare market in 2022?
What is the expected growth rate of the global artificial intelligence in healthcare market during 2023-2028?
What has been the impact of COVID-19 on the global artificial intelligence in healthcare market?
What are the key factors driving the global artificial intelligence in healthcare market?
What is the breakup of the global artificial intelligence in healthcare market based on the offering?
What is the breakup of the global artificial intelligence in healthcare market based on the technology?
What is the breakup of the global artificial intelligence in healthcare market based on the application?
What is the breakup of the global artificial intelligence in healthcare market based on the end-user?
What are the key regions in the global artificial intelligence in healthcare market?
Who are the key players/companies in the global artificial intelligence in healthcare market?