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
The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Artificial Intelligence In Diagnostics Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using the Competitive Quadrant, the publisher's proprietary competitive positioning tool.
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview 4.1 Introduction 4.2 Market Dynamics 4.2.1 Drivers 4.2.1.1 Influx of large and complex healthcare datasets 4.2.1.2 Growing need to reduce healthcare costs 4.2.1.3 Improving computing power and declining hardware cost 4.2.1.4 Growing number of cross-industry partnerships and collaborations 4.2.1.5 Rising need for improvised healthcare services due to imbalance between health workforce and patients 4.2.2 Restraints 4.2.2.1 Reluctance among medical practitioners to adopt AI-based technologies 4.2.2.2 Lack of skilled AI workforce and ambiguous regulatory guidelines for medical software 4.2.3 Opportunities 4.2.3.1 Growing potential of AI-based tools for elderly care 4.2.3.2 Increasing focus on developing human-aware AI systems 4.2.3.3 Growing potential of AI-technology in genomics, drug discovery, and imaging & diagnostics to fight COVID-19 4.2.4 Challenges 4.2.4.1 Lack of curated healthcare data 4.2.4.2 Concerns regarding data privacy 4.2.4.3 Lack of interoperability between AI solutions offered by different vendors 4.3 Trends
5 Market Analysis 5.1 Porter's Five Forces Analysis 5.2 Impact of COVID-19 5.3 Ansoff Matrix Analysis
6 Global Artificial Intelligence In Diagnostics Market, By Section 6.1 Introduction 6.2 Hardware 6.3 Software 6.4 Services
7 Global Artificial Intelligence In Diagnostics Market, By Diagnosis 7.1 Introduction 7.2 Radiology 7.3 Pathology 7.4 Cardiology 7.5 Oncology 7.6 Neurology 7.7 Chest and Lung 7.8 Others
8 Global Artificial Intelligence In Diagnostics Market, By End User 8.1 Hospitals & Healthcare Providers 8.2 Patients 8.3 Pharmaceuticals & Biotechnology Companies 8.4 Healthcare Payers 8.5 Others (ACOS and MCOS)
9 Global Artificial Intelligence In Diagnostics Market, By Geography 9.1 Introduction 9.2 North America 9.2.1 US 9.2.2 Canada 9.2.3 Mexico 9.3 South America 9.3.1 Brazil 9.3.2 Argentina 9.4 Europe 9.4.1 UK 9.4.2 France 9.4.3 Germany 9.4.4 Italy 9.4.5 Spain 9.4.6 Rest of Europe 9.5 Asia-Pacific 9.5.1 China 9.5.2 Japan 9.5.3 India 9.5.4 Indonesia 9.5.5 Malaysia 9.5.6 South Korea 9.5.7 Australia 9.5.8 Russia 9.5.9 Rest of APAC 9.6 Rest of the World 9.6.1 Qatar 9.6.2 Saudi Arabia 9.6.3 South Africa 9.6.4 United Arab Emirates 9.6.5 Latin America
