Artificial Intelligence in Healthcare Market: Size to Grow to USD 183.56 Billion by 2030

Artificial Intelligence in Healthcare Market Report Overview:

The Artificial Intelligence in Healthcare Market, valued at USD 19,680 million in 2023, is on a trajectory for unprecedented growth. With a projected Compound Annual Growth Rate (CAGR) of 37.57% from 2024 to 2030, the market is expected to soar to a staggering USD 183,561.26 million by the end of the forecast period. This explosive growth underscores the transformative impact that Artificial Intelligence (AI) is having on the healthcare industry, revolutionizing diagnostics, treatment, and patient care.

Artificial Intelligence Revolutionizing Healthcare

Artificial intelligence, commonly referred to as AI, is fundamentally altering the landscape of various industries, and healthcare is no exception. The integration of AI into healthcare has the potential to significantly improve patient outcomes by enhancing diagnostic accuracy, streamlining treatment processes, and enabling quicker, more informed medical decisions. In 2019, the global AI healthcare market was valued at approximately USD 2.4 billion, and this figure is anticipated to escalate to USD 31.02 billion by 2025. The adoption of AI technology by a vast majority of healthcare players, including providers, life sciences companies, and tech vendors, indicates the widespread recognition of AI’s benefits.

The synergy between AI and the Internet of Medical Things (IoMT) places individuals at the heart of the healthcare system, empowering them to take control of their health through informed decisions. This integration not only promotes healthier lifestyles but also enhances the capacity of healthcare professionals to monitor and respond to patient needs effectively. The resulting increase in AI applications within healthcare is driving significant market growth.

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Increasing Demand for AI in Disease Management

The rising demand for AI in healthcare is largely driven by its proven efficacy in disease analysis and management. A notable example is in the realm of breast cancer screening, where AI systems have demonstrated the ability to drastically reduce the number of false positives in mammograms. According to the American Cancer Society, nearly half of the women who undergo mammograms with normal findings may be incorrectly diagnosed with cancer. However, with the advent of AI-powered diagnostic tools, these false positives can be significantly reduced. AI solutions leveraging deep learning and convolutional neural networks have been developed to assess mammograms with remarkable accuracy, 30 times faster than humans, achieving a 99% accuracy rate. This not only minimizes unnecessary biopsies but also alleviates the associated anxiety for patients.

Moreover, the accessibility of AI-enabled consumer wearables and medical devices plays a crucial role in the early detection and management of conditions such as heart disease. These innovations facilitate timely interventions, ultimately enhancing patient well-being and driving the demand for AI in healthcare.

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Artificial Intelligence in Healthcare Market Segmentation:

by Offering

Hardware
Software
Services

by Technology

Machine Learning
Natural Language Processing
Context-Aware Computing
Computer Vision

by Application

Robot-Assisted Surgery
Virtual Nursing Assistant
Administrative Workflow Assistance
Fraud Detection
Dosage Error Reduction
Medical Imaging & Diagnosis

by End-User

Hospitals & Healthcare Providers
Pharmaceutical & Biotechnology Company
Healthcare Payers
Patients
Others

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Artificial Intelligence in Healthcare Market Key Players:

1. IBM Watson Health (USA)
2. Google Health (USA)
3. Microsoft Healthcare (USA)
4. Nvidia Corporation (USA)
5. General Electric (USA)
6. Siemens Healthineers (Germany)
7. Philips Healthcare (Netherlands)
8. Medtronic (USA)
9. Cerner Corporation (USA)
10. Amazon Web Services (USA)
11. Tempus Labs (USA)
12. Ada Health (Germany)
13. Butterfly Network (USA)
14. Babylon Health (UK)
15. Zebra Medical Vision (Israel)
16. GE Healthcare (USA)
17. Arterys (USA)
18. Viz.ai (USA)
19. Insilico Medicine (USA)
20. BenevolentAI (UK)

Artificial Intelligence in Healthcare Market Regional Analysis:

North America, particularly the United States, is expected to dominate the AI healthcare market during the forecast period. The region’s advanced healthcare infrastructure, high adoption rates of AI technologies, and increasing demand for personalized treatments are key factors driving this dominance. In 2023, the United States had the highest level of AI implementation in healthcare, with a 91.13% adoption rate. This trend is supported by robust healthcare facilities, significant government investments in AI solutions, and a strong focus on early disease detection and prevention.

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/market-report/global-artificial-intelligence-ai-healthcare-market/21261/

Key Questions answered in the Artificial Intelligence in Healthcare Market Report are:

What is the expected CAGR of the Artificial Intelligence in Healthcare market during the forecast?
What is the expected Artificial Intelligence in Healthcare market size during the forecast period?
Which regional Artificial Intelligence in Healthcare market is expected to hold the largest share during the forecast period?
What are the market segments?
Which production technology is utilized for Artificial Intelligence in Healthcare?
What trends are driving the market growth?
Who are the global key players in the Artificial Intelligence in Healthcare market?
What is the global market status of the Artificial Intelligence in Healthcare market?
What was volume, manufacture value, price, and revenue of Artificial Intelligence in Healthcare market?

Key Offerings:

Market Overview
Forecast by Revenue
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by segments, sub-segments and region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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