The influx of COVID-19 patients requiring medical imaging diagnostics and definitive healthcare is estimated to augment the healthcare artificial intelligence market. This scenario is considered an ideal strategy for leveraging healthcare artificial intelligence market offerings in the forecast period. The use of AI in clinical research and robotic personal assistants in hospital workflow management is estimated to gain momentum in the upcoming period.
The surge in AI-based products engaging in data capturing capability is seeing a large number of users in the current pandemic, which will benefit the artificial intelligence systems market. The healthcare IT industry reports are formed by Market Research Future, emphasizing market opportunities for growth. A CAGR of 51.9% is estimated to unlock prolific growth in the forecast period.
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Detailed Regional Analysis
The regional overview of the healthcare artificial intelligence market encompasses Europe, the Middle East, the Americas, Asia Pacific, and Africa. The Americas controlled the majority stake for most of 2017, and they are likely to govern the healthcare artificial intelligence market on the global stage. The developing number of cases for robotic surgery, diversifying operations in the biotechnology industry, and a fully developed healthcare sector are vital factors promoting the Americas’ region’s control on the global market. The European region is leveraging factors such as extensive R&D for healthcare AI, amplifying financing, and mounting implementation of AI technology within the region to promote its position. The Asia Pacific healthcare artificial intelligence market is anticipated to record a wholesome CAGR throughout the forecast period due to intensifying therapeutic demand for chronic diseases and the speedily developing healthcare sector.
The segments taken into account in the healthcare artificial intelligence market are technology, end-user, component, application, and region. The component basis of segmenting the healthcare artificial intelligence market consists of services, hardware, and software. The healthcare artificial intelligence market’s end-user segment includes pharmaceutical & biotechnology companies, academic, hospital & diagnostic centers, and research laboratories. Based on regions, the healthcare artificial intelligence market encompasses Europe, and the Middle East, the Americas, Asia Pacific, and Africa. On the basis of application, the healthcare artificial intelligence market is segmented into virtual nursing assistants, preliminary diagnosis, dosage error reduction, robot-assisted surgery, clinical trial, and automated image diagnosis. The technology-based segments of the healthcare artificial intelligence market are querying, natural language processing, and machine learning.
The surge in innovative products in the global supply chain is anticipated to open up novel possibilities in the forecast period. The market is anticipated to see an improvement in growth cues in the near future. The regained market potential is estimated to aid in the expansion of the global market. The decisive policies being created by government bodies around the world are assessed to play a vital role in the advancement of the market on a global scale. The restructuring of the market’s core operations is predicted to impact the market in the approaching period. The stabilization of output in the market is estimated to be varied. Each manufacturer is estimated to make decisions on a microeconomic level to ensure long-term business growth and continuity in the forecast period. The drastic changes in the global financial intermediation structure due to the COVID-19 pandemic are assessed to change how businesses secure financing in the coming period. The sentiment of hypervigilance in the pandemic’s wake is estimated to direct decisions for operation in the market through the forecast period.
The prominent companies in the healthcare artificial intelligence market are Intel Corporation, Microsoft Corporation, General Electric Company, Google, Inc., IBM Corporation, Deep Genomics, Inc., Koninklijke Philips N.V., Johnson & Johnson, General Vision, Inc., Stryker Corporation, NVIDIA Corporation, Siemens Healthineers GmbH, Medtronic Plc., and others.
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