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The Worldwide AI in Healthcare Industry is Expected to Reach $64 Billion by 2027

Dublin, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The "Global AI in Healthcare Market (2021-2027) by Sections, Diagnosis, End user and Geography. IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global AI in Healthcare Market size is expected to grow from USD 6.1 Bn in 2021 and reach USD 64.11 Bn by 2027; it is projected to grow at a CAGR of 48%.

Market Dynamics

The increasing volume of healthcare data and growing complexities of datasets driving the need for AI, the intensifying need to reduce towering healthcare costs, improving computing power and declining hardware costs, growing number of cross-industry partnerships and collaborations, and rising imbalance between health workforce and patients driving the need for improvised healthcare services.

Another major factor fueling the market growth currently is the adoption of this technology by multiple pharmaceutical and biotechnology companies across the world to expedite vaccine or drug development processes for COVID-19. Artificial intelligence in healthcare is one of the most important scientific advancements in medicine so far. The participation of several start-ups in the development of AI-driven imaging and diagnostic solutions is a key factor contributing to the growth of the sector.

Market Segmentation

The Global Artificial Intelligence in Diagnostics Market is segmented based on Sections, Diagnosis, End user and Geography.

By Sections, the market is classified into Services, Software and Hardware. Software segment to hold the largest share in AI in healthcare market.

By Diagnosis, the market is classified into Radiology, Oncology, Neurology, Cardiology, Chest & Lungs, Pathology and Other Diagnosis Types

By End User, the market is classified amongst Hospitals & Healthcare Providers. Patients, Pharmaceuticals & Biotechnology Companies, Healthcare Payers, Others (ACOS and MCOS.

By Geography, North America is a key artificial intelligence in healthcare market.

Company Profiles

Some of the companies covered in this report are NVIDIA Corporation (NVIDIA) (US), Intel Corporation (Intel) (US), International Business Machines Corporation (IBM) (US), Google Inc. (Google) (US), Microsoft Corporation (Microsoft) (US), Amazon Web Services (an Amazon.com, Inc. subsidiary) (AWS) (US), General Vision, Inc. (US), General Electric (GE) Healthcare (US), Siemens Healthineers (Germany), Medtronic plc (US), Johnson & Johnson Services, Inc. (Johnson & Johnson) (US), and Koninklijke Philips N.V. (Netherlands) etc.

Competitive Quadrant