AI in healthcare market

A recent report by Global Market Studies has revealed that the Global AI in Healthcare Market is projected to reach USD118.7 billion by year 2028, growing at a CAGR of almost 41% from 2023 to 2028. AI in healthcare is an overarching term used to describe the application of cognitive technologies and machine learning, among other parameters that are widely being adopted in the medicine, biotechnology and life sciences sectors to, among other things, predict and manage disease at early-stage.
The AI in healthcare market is growing rapidly as a result of advancements in technology and on account of a growing demand for effective and creative solutions to improve clinical and operational outcomes. The cost of healthcare has been rising significantly globally, and there is pressure on world economies to reduce expenditure to make healthcare more accessible and affordable. Demand for AI technology is expected to grow rapidly over the forecast period. 

To access a sample of this report and more information on this market

AI In Healthcare Market, Global Market Studies

Market Dynamics

Drivers:

Big data and analytical solutions have grown exponentially in the healthcare sector particularly as a result of bidirectional patient portals allowing patients the ability to upload medical information. Sectors such as x-ray machines, electrocardiogram, (ECG) machines, electronic health records, biometric information and various other sources such as wearables and sensors are all expected to contribute to high volumes of big datasets being generated. Post the Covid-19 pandemic, AI-based healthcare technologies witnessed a significant adoption boost, particularly in functions such as diagnostics, medication management, claims management, workflow management, patient management, aged care and critical care.

Challenges:

The AI in healthcare market is facing huge challenges in terms of data privacy. AI-based tools are expected and mandated to adhere to strict privacy protocols, however, the reliance on vendor data centres and whether these entities are adhering to security is questionable. Breach of patients’ private data is an important concern for regulators across the globe.

Key Companies Featured:

Rise in technological collaborations, growing spends on research and development, IP-focused product developments and product launches, hyper-personalised product and service offerings are some of the pathways being adopted by key industry players. The competitive landscape includes start-ups, mid-sized and larger, more established companies as well.

Some of the prominent players featured in the AI in Healthcare Marker report include:

  • Nuance Communications, Inc.
  • IBM Corporation
  • Microsoft
  • NVIDIA Corporation
  • Intel Corporation
  • DeepMind Technologies Limited
  • Koninklijke Philips N.V.
  • Siemens Healthcare
  • General Electric
  • Babylon Health
  • PathAI
  • AiCure

For more information about this report and other reports, do reach out to us.

Report Coverage

This report will help you understand:

  • Competitive benchmarking
  • Historical data & forecasts
  • Company revenue shares
  • Regional opportunities
  • Latest trends & dynamics

About Global Market Studies

Global Market Studies is a leading global market research and data services consultancy, providing actionable, objective, bespoke insights to business all over the world across multiple industry verticals. With a team of highly-experienced and domain-specific research and data experts focused on high-quality research, we are able to deliver to our clients high-quality market intelligence. Using cutting-edge, proprietary research tools we help our clients identify new market opportunities, apprehend risk early-on, maximize revenue sources and enter disruptive markets. Through a suite of impactful solutions developed using the knowledge of emerging markets, Global Market Studies is able to add real value to clients’ decision-making process so they may stay ahead of change and develop that much-needed competitive edge. We are a global market research company underpinned by quality analysis and unmatched experience combining our forte of swift turnarounds that suit your deadlines along with an ever-growing network of researchers and analysts.

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