Healthcare Artificial Intelligence Market - Forecasts from 2024 to 2029

Healthcare Artificial Intelligence Market - Forecasts from 2024 to 2029

The healthcare artificial intelligence market is expected to grow at a CAGR of 40.41%, reaching a market size of US$106.756 billion in 2029 from US$19.563 billion in 2024.

AI in healthcare is the application of artificial intelligence (AI) technologies and methodologies to enhance patient care, diagnosis, treatment, and overall operations within the healthcare industry. Continuous digitization of healthcare is the major factor driving the healthcare artificial intelligence market’s growth. This growth can also be attributed to increased investments in AI by pharmaceutical and MedTech companies interested in improving their operational efficiency.

AI makes early disease detection and diagnosis possible, which significantly helps medical practitioners. There are several reasons why the healthcare AI market is expanding at a very fast rate: the rising application of precision medicine, more emphasis on big data within healthcare service provision, a need for optimizing healthcare spending, and low hardware prices.

Healthcare Artificial Intelligence Market Drivers:

Rising implementation of artificial intelligence and robotics is transforming the healthcare industry

AI has been rapidly changing the global healthcare sector in recent years. It has introduced previously unheard-of patient care, diagnosis, and treatment resources. In response to this increasing demand, healthcare providers are concentrating on technological developments that improve the identification and management of various clinical indications. In addition, several technologies, including virtual assistants, can be used to track patient health and send medication alerts, provide e-consultations, change patient symptom checking, and much more to enhance patient care. For example, NVIDIA AI Enterprise, a new artificial intelligence tool from NVIDIA Corporation, aids in visualizing AI workload on NVIDIA Certified systems.

Healthcare Artificial Intelligence Market Geographical Outlook
Asia Pacific is witnessing exponential growth during the forecast period

In the upcoming years, the healthcare AI market in Asia Pacific is expected to grow significantly. This growth is propelled by several factors, including fast technological advancements in information systems and an increase in companies based on artificial intelligence. Adoption rates within the region are typically driven by rising investments from private investors and venture capitalists whose objectives include improving clinical outcomes, enhancing data security and analysis, and cutting costs. Additionally, positive government initiatives encourage and support health practitioners' adoption of AI-based technologies; such measures are likely to spur further market expansion.

Reasons for buying this report:-

Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub - segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

What do businesses use our reports for?

Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The Healthcare artificial intelligence market is segmented and analyzed as follows:

By Application

Medical Imaging and Diagnostics
Precision Medicines
Lifestyle Management and Monitoring
Virtual Assistant
Wearables
Inpatient Care and Hospital Management
Drug Discovery and Development
Research

By offering

Hardware
Software
Services

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
Japan
China
India
South Korea
Taiwan
Thailand
Indonesia
Other