Global Artificial Intelligence (Ai) In Healthcare Market 2024-2032
Market Outlook
According to Triton’s report analysis, the global artificial intelligence (AI) in healthcare market is expected to witness revenue growth at a CAGR of 37.14% over the forecast period 2024-2032.
The market’s growth is prompted by varied factors, such as AI adoption supported by a large volume of healthcare data, growing governmental support, and rising start-ups in AI and machine learning. Big data technologies play a crucial role in biomedical and healthcare fields, handling the immense volume of biological and clinical data sourced from laboratories and medical research centers. This data, primarily from patient records, requires AI-driven analysis to unveil innovative approaches to enhancing healthcare standards.
However, cost constraints and low return on investment, slow adoption of AI-based technologies, and challenges in sustaining data security hamper the overall development of the AI in healthcare market.
REGIONAL OUTLOOK
The global AI in healthcare market covers the Middle East and Africa, North America, Asia-Pacific, Latin America, and Europe regions.
Asia-Pacific is estimated to witness fast growth in the AI in healthcare market over the forecast years. Government and private sector investments, coupled with the emergence of startups, are pivotal factors propelling the regional market forward. Additionally, the development of new technologies in artificial intelligence (AI) for healthcare is further bolstering growth in the region. In particular, AI in healthcare within the region finds significant adoption and application in various aspects of the healthcare industry, notably precision medicine and genome testing.
Competitive Outlook
The major companies in the artificial intelligence in healthcare market comprise General Vision Inc, GE Healthcare, IBM Corporation, Koninklijke Philips NV, Microsoft Corporation, Google LLC, Intel Corporation, NVIDIA Corporation, Oncora Medical, Medtronic Plc, Recursion Pharmaceuticals Inc, Stryker Corporation, and Siemens Healthineers AG.
Google LLC, a subsidiary of Alphabet Inc, is a prominent provider of Internet search and advertising services. Its diverse business areas encompass advertising, search, platforms and operating systems, enterprise, and hardware products. Notable offerings within its expansive portfolio include Google Search, Google Chrome, Google Docs, Google Calendar, Gmail, Google Groups, YouTube, etc. With a global presence spanning the Americas, Europe, Asia-Pacific, Africa, and the Middle East, Google is headquartered in California, US.