Artificial intelligence (AI) in healthcare market is a broad term that covers a wide range of applications and technologies. AI technologies can be used to help doctors and other healthcare professionals diagnose and treat diseases, make predictions about patient health, and improve the efficiency of care delivery. AI is also being used to develop new drugs and personalized treatments, and to create digital assistants that can help patients manage their health.
The global Artificial Intelligence in Healthcare market was valued at USD 14.1 Billion in 2023 and it is anticipated to grow up to USD 50.7 Billion by 2032, at a CAGR of 13.6% during the forecast period.
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- 9 – Chapter
- 379 – Pages
- Industry: Semiconductors & Electronics
Key trends:
The market is driven by several factors, including the need to manage data more effectively and optimize healthcare costs, the growth of public-private partnerships, and the increased regional spending on healthcare. Additionally, the market is anticipated to grow as opportunities in geriatric population care with AI technology, imaging, and diagnostics to generate data for research development arise. Moreover, the growing shortage of healthcare workforce drove the adoption of AI/ML technologies. Therefore, AI algorithms can be trained to analyze patient health information, which further supports care providers in quickly diagnosing the condition and devising an accurate treatment regime.
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Market Segmentation:
By component:
The market is segmented into hardware, software solutions, and services. In 2023, the software solutions segment dominated the market due to the rapidly growing adoption rate of AI-based software solutions amongst healthcare providers, payers, and patients.
By Application:
The market is segmented as Robot-Assisted Surgery, Clinical Trials, Medical Imaging & Diagnosis, Drug Discovery, Therapy Planning, Hospital Workflow, Wearables, Virtual Assistants, and Others. Out of these, the clinical trials segment dominated the market in 2023 due to the growing number of patent expirations, and rising demand for faster and more accurate clinical trials to cater to the need for new drug discoveries and drug development.
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Data Summary:
Report Attribute | Details |
| Market Size in 2023 | $14.1 bn |
| Market Size in 2033 | $50.7 bn |
| Growth Rate (2024-33) | 13.6% |
| Historic Period | 2017-2022 |
| Forecast Period | 2024-2033 |
| Base Year | 2023 |
| Segments Covered | Component, Application, and Region |
| Key Companies | AiCure, APIXIO, Inc., Atomwise, Inc, Butterfly Network, Inc., Cyrcadia Health Inc, Enlitic, Inc, IBM Corporation, iCarbonX, Insilico Medicine Inc, NVIDIA Corporation |
| Regional Scope | North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
| Analysis Coverage | Market Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments |
Research Scope:
- The report offers a comprehensive quantitative as well as qualitative analysis of the current Artificial Intelligence in Healthcare Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
- The report also covers qualitative as well as quantitative analysis of Artificial Intelligence in Healthcare Market in terms of revenue ($Million).
- Major players in the market are profiled in this report, and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Artificial Intelligence in Healthcare industry.
- A thorough analysis of market trends and restraints is provided.
- By region as well as country, market analysis is also presented in this report.
- The Artificial Intelligence in Healthcare Market Study comprises an analysis of 23 countries. The research also encompasses a segment analysis of every country in terms of value (USD Million) throughout the study period.
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Key Players:
- AiCure
- APIXIO, Inc
- Atomwise, Inc
- Butterfly Network, Inc
- Cyrcadia Health Inc
- Enlitic, Inc
- IBM Corporation
- iCarbonX
- Insilico Medicine Inc
- NVIDIA Corporation
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (UAE, Saudi Arabia, Rest of Middle East And Africa)
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