A recent report on the “Global AI in Healthcare Market“ Expert Survey 2020 is configured by Manufacturer, Region, Country, Type, and Application-Specific Forecasts to 2030 provides a comprehensive survey of business revenue estimates, geographic landscape, and industry scale. The report also highlights the challenges hindering the market growth and expansion strategies adopted by large companies in the AI in Healthcare market.
For the basic understanding of strategy in this report, we will focus on the static and dynamic pillars of the industry. Beyond this, identify the business development circle and opportunities. It also focuses on the limitations for analyzing problems in existing business strategies. Focus on various aspects such as application areas, platforms, and key players operating around the world.
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Major Key Players Mentioned: Nuance Communications, Inc., DeepMind Technologies Limited, IBM Corporation, Intel Corporation and Microsoft and NVIDIA Corporation.
The deep qualitative analysis includes the identification and investigation of aspects of the AI in Healthcare market structure, growth circle, challenges, emerging product trends and market opportunities, Porter’s Fiver Forces, SWOT analysis.
COVID-19 Impact Analysis:
The report seeks to track the evolution of the market growth pathways and publish a medical crisis in an exclusive section publishing an analysis of the impact of COVID-19 on the AI in Healthcare market. The new analysis on COVID-19 pandemic provides a clear assessment of the impact on the AI in Healthcare market and the expected volatility of the market during the forecast period. Various factors that can affect the general dynamics of the AI in Healthcare market during the forecast period (2020-2030), including current trends, growth opportunities, limiting factors, etc., are discussed in detail in this market research.
- In relation to this range of geological spectra, the AI in Healthcare Market Report explores each geographic segment of the market through supply, import, export, consumption and production in these regions to provide a complete understanding of the market areas including:
- European market (Austria, France, Finland, Switzerland, Italy, Germany, Netherlands, Poland, Russia, Spain, Sweden, Turkey, UK),
- Asia Pacific and Australian markets (China, Korea, Thailand, India, Vietnam, Malaysia, Indonesia and Japan),
- Middle East and African markets (Saudi Arabia, South Africa, Egypt, Morocco, Nigeria),
- Latin American / South American market (Brazil and Argentina),
- North American market (Canada, Mexico, and USA)
- All region descriptions The offerings mentioned in this report are basic information containing detailed information about the offerings and market share of the company’s region. Our commercial offers show updated and reliable information that helps companies improve their competitiveness.
Questions answered in the AI in Healthcare report:
- What will be the global market scale of AI in Healthcare in 2030?
- What is the current CAGR of the global AI in Healthcare market?
- What products are expected to show the highest growth in the market?
- Which applications are expected to have the largest share in the global AI in Healthcare market?
- Which regions are expected to create the most opportunities in the global AI in Healthcare market?
- Will market competition change during the forecast period?
- Who are the top players in today’s global AI in Healthcare market?
- How will the market situation change in the future?
- What are the common business tactics that players adopt?
- What are the growth prospects for the Global AI in Healthcare Market?
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Our analysis includes market research that considers the impact of the COVID-19 pandemic. Contact us for complete information on the current situation and the impact of the market. Our team of professional analysts will provide you with the reports that are tailored to your needs.
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AI in the healthcare market is anticipated to reach the market valuation of US$ 26,599.5 Million by 2025, expanding at a CAGR of 41.1% in the course of forecast period (2018-2025) on account of increasing tremendous requirement of AI in the field of healthcare. Artificial Intelligent technologies facilitates medical practitioners to streamline administrative and clinical healthcare processes, thereby increasing efficiency and effectiveness of the outputs. Artificial Intelligence is a way of making a computer an intelligent machine that work, think and act like human beings. This brings together the intelligence and thought process of humans with precision, accuracy and speed of computers. In the healthcare sector, there has been a paradigm shift in the way patients are treated by doctors as they now have inordinate amounts of data in their hands, and a good amount of this data can be put to good use. As per a report published by Accenture, results from the report estimated that AI applications in health care could save up to $150 billion annually expenses on healthcare in the U.S. economy by 2025.
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According to a survey conducted by the West Health Institute and NORC at the University of Chicago, it was found that in 2017, 44% of Americans refused to go to a doctor due to cost concerns. Such delays then compromise the health of people thereby pushing them towards something that is even more terrifying but could have been avoided if timely intervention was done. Thus, it is very important to reduce the health costs so that people are healthy and move towards a prosperous future. Artificial intelligence can decrease the cost of healthcare in numerous ways. Artificial intelligence (AI) and Machine Learning (ML) have great potential to help healthcare providers identify opportunities to optimize their operations and realize cost savings. For example, AI could be used to predict the length of stay of patients which will then streamline operations by ensuring that the hospital has adequate, but not excessive staffing, and asset allocation for the duration of the patient stay. AI can increase the speed of the practice of evidence-based medicine, in which clinical studies and other evidence are focused to find the best course of clinical action that has the potential for savings. Apart for this, there are many other ways in which AI can decrease the healthcare costs.
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Doctors, medical practitioners, technologists and patients are all influenced by new ways to monitor personal health. Both, practitioners and patients, can monitor different health related dimensions including daily sleep patterns, calorie intake count, research treatment options, heart rate and other related characteristics using this device. All these aspects are a resultant of improved and increased computing power in the healthcare sector. This process is going to increase further thereby making it imperative to make AI an unrepeatable part of healthcare sector. The AI will further strengthen the industry since it will both supplement and compliment the increasing computing power in the industry. Various studies globally have estimated that the market for AI in healthcare applications would grow at a CAGR of 42% until 2021. The healthcare industry is ripe for disruption, which Microsoft and IBM are exploiting through their offerings.
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Imbalance in the health workforce is a major challenge for the healthcare sector. There can be observed shortage of different kinds of clinical and non-clinical staff who are responsible for making interference between patients and public health service. Apart from this, the personnel specialized in a specific branch are also missing. Further, physicians retire or leave the profession. This is a clear indication that the number of health professionals are less than the requirement. For example, India has less than one doctor for every 1,000 population which is less than the World Health Organization standard. As per the World Health Organization, there should be one doctor per 1,000 population. Similar trend can be observed for other health professionals as well. Thus, this gap and imbalance can be bridged through involvement of AI in healthcare. Also, the 65-and-older population who are the main users of surgical services, is expected to double by 2060. This will further stress the healthcare system. Also, clinicians spend 17% of their working time on admin tasks. When machines take on these tasks, clinicians can spend more time caring for people.
There are many surgeries that require precision which is difficult to be achieved by human hands. For such surgeries, AI brings in AI powered robotics surgeries. Robots enabled with artificial intelligence are increasingly assisting microsurgical procedures to help reduce surgeon variations that could affect patient recovery. Robots help guide surgical instruments to precise treatment locations. They can repeat the same movements over and again without fatigue, or remain completely stationary for long periods of time. Robots go where traditional surgical tools can’t reach, and perform tasks unimaginable without computer assistance, sophisticated algorithms, and advanced motion control technology. Robotic technology allows a doctor that has limited experience or is new at a procedure to deliver treatment at a level that otherwise they would not be able to do for potentially years until they have that experience. Further, automated robots are not humans and work and learn through patterns and duplicate results. This completely takes away the risk of human error associated with surgery. AI is capable of adding value to the product and services of healthcare sector which is another driver for the growth and development of AI in healthcare.
Artificial intelligence in healthcare market in North America has been on an up-surging trend due to the high adoption rate of AI in countries such as the US and Canada, paired with development and growth of research & development activities that combine the investments by government and private organizations. Nearly two-thirds of the total spending on AI in healthcare is driven by North America. Currently, North America holds the major market share for AI in healthcare and is expected to show increased exponential growth in the future as well. In Europe, AI could help its health care systems to save more than US$196 billion by improving prevention, diagnostics and treatment of childhood obesity, dementia and breast cancer in near future. Nearly all the countries in the region are big supporters and adopters of AI in healthcare. Estonia was the first country in Europe to bring AI on the European political agenda, during the presidency of the Council in the second half of 2017. Bulgaria, that holds the Presidency of the Council since January, has also been pushing the AI agenda at European level. Belgium, the Netherlands, Ireland, the UK and the Nordic countries are also supporters of a European AI Strategy. Healthcare organizations across the Asia-Pacific region have seen significant improvements in healthcare sector over the past decade. In the past years, the Asia-Pacific region has lagged behind North America and Europe in terms of technology adoption. However, AI is one technology area where Asia-Pacific can stand apart, compared to other region. The Asia-Pacific region holds 60% of the world’s population and, therefore, any major technological shifts like those backed by AI are likely to shape the future of the region.
Some of the major companies operating in the global healthcare AI market are Medtronic Plc, Abbott Laboratories, Johnson and Johnson, Bcton Dickinson, Boston Scientific Corporation, Koninklijke Philips N.V, Roche Holding AG, Siemens Healthineers AG, Stryker Corporation and Oracle Corporation. These company are partnering up with technology leaders and are investing heavily to come up with new and innovative AI backed healthcare equipment to treat patients.
Market Insights by Technology
- Machine learning
- Dep learning
- Intelligent agent
- Neural networks
Market Insights by Application
- Robotic surgery
- Virtual Nursing assistance
- Administrative workflow assistance
- Advances analytics and research
Market Insights by Region
- North America AI in Healthcare Market
- Europe AI in Healthcare Market
- Asia-Pacific AI in Healthcare Market
- Rest of the world
Top 10 Company Profiled
- Medtronic Plc
- Abbott Laboratories
- Johnson and Johnson
- Bcton Dickinson
- Boston Scientific Corporation
- Koninklijke Philips N.V
- Roche Holding AG
- Siemens Healthineers AG
- Stryker Corporation
- Oracle Corporation
Artificial intelligence in healthcare market can be customized to the country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.
Table of Contents
|1.2||Objective of the Study|
|1.5||Currency used in the Report|
|2||RESEARCH METHODOLOGY OR ASSUMPTION|
|2.1||Research Methodology for AI in Healthcare Market|
|2.1.1||Main objective of the AI in health care sector Market Study|
|3||REGULATORY FRAMEWORK AND KEY DEVELOPMENT|
|18.104.22.168||North America Regulatory Framework for AI in Healthcare|
|22.214.171.124||North American Key Developments of AI in Healthcare|
|126.96.36.199||European Regulatory Framework for AI in Healthcare|
|188.8.131.52||European Key Developments of AI in Healthcare|
|3.1.3||Asia Pacific (APAC)|
|184.108.40.206||Asia Pacific (APAC) Regulatory Framework for AI in Healthcare|
|220.127.116.11||Asia Pacific (APAC) Key Developments of AI in Healthcare|
|3.1.4||Rest of World (RoW)|
|18.104.22.168||Rest of World (RoW) Regulatory Framework for AI in Healthcare|
|22.214.171.124||Increasingly Large and Complex Data Set|
|126.96.36.199||Growing Demand to Reduce Healthcare Costs|
|188.8.131.52||Improving Computing Power in Healthcare|
|184.108.40.206||Rising Need for Improvised Healthcare Services|
|220.127.116.11||Application of AI for novel surgeries and screening|
|18.104.22.168||Limitations of AI decision-making|
|22.214.171.124||Reluctance Among Medical Practitioners to Adopt AI-Based Technologies|
|126.96.36.199||Lack of Skilled AI Workforce and Ambiguous Regulation for Medical Software|
|6.2.3||Trends in AI in Healthcare|
|188.8.131.52||Democratisation of access|
|184.108.40.206||Migration from Doctor-Centric Diagnostics to Data-Driven Diagnostics|
|220.127.116.11||Transformation of Drug Discovery in Pharma Industry|
|18.104.22.168||Growing Potential of AI-Based Tools|
|22.214.171.124||Increasing Focus on Developing Human-Aware AI Systems|
|126.96.36.199||Surging Spending Power on R&D|
|188.8.131.52||Untapped market in developing regions|
|7||KEY MARKET INDICATORS|
|7.1.1||Demand and Supply Side Analysis|
|7.1.5||Applications of AI in Healthcare|
|184.108.40.206||Top Winning Strategies|
|220.127.116.11.1||Top Product launches|
|18.104.22.168.3||Top Acquisition and Collaborations|
|8||MARKET INSIGHTS, BY TECHNOLOGY|
|8.1.3||Artificial Neural Network|
|9||MARKET INSIGHTS, BY APPLICATION|
|9.1.3||Virtual Nursing Assistance|
|9.1.4||Administrative Workflow Assistance|
|10||MARKET INSIGHTS, BY TYPE OF OFFERINGS|
|11||MARKET INSIGHTS, BY REGION|
|11.2||North America Healthcare AI Market|
|11.2.1||North America Healthcare AI Market, by Technology|
|11.2.2||North America Healthcare AI Market, by Application|
|11.2.3||North America Healthcare AI Market, by Type of Offerings|
|11.3||Europe Healthcare AI Market, USD Million (2015-2025)|
|11.3.1||Europe Healthcare AI Market, by Technology|
|11.3.2||Europe Healthcare AI Market, by Application|
|11.3.3||Europe Healthcare AI Market, by Type Offering|
|11.4||Asia-Pacific Healthcare AI Market, USD Million (2015-2025)|
|11.4.1||Asia-Pacific Healthcare AI Market, by Technology|
|11.4.2||Asia-Pacific Healthcare AI Market, by Application|
|11.4.3||Asia-Pacific Healthcare AI Market, by Type of Offerings|
|11.5||Rest of the World Healthcare AI Market, USD Million (2015-2025)|
|11.5.1||Rest of World Healthcare AI Market, by Technology|
|11.5.2||Rest of World Healthcare AI Market, by Application|
|11.5.3||Rest of World Healthcare AI Market, by Type of Offerings|
|12.1||Global Healthcare AI Market Share Analysis, 2018|
|12.2||Porter’s Five forces analysis|
|12.2.1||Bargaining power of Buyer|
|12.2.2||Bargaining power of Supplier|
|12.2.3||Threat of new entrants|
|12.2.4||Availability of Substitute|
|13||TOP COMPANY PROFILES|
|13.1.3||Key Product/Services Offerings|
|13.2.3||Key Product/Services Offerings|
|13.3||Johnson & Johnson|
|13.3.3||Key Product/Services Offerings|
|13.4.3||Key Product/Services Offerings|
|13.5||Boston Scientific Corporation|
|13.5.3||Key Product/Services Offerings|
|13.6||Koninklijke Philips N.V.|
|13.6.3||Key Product/Services Offerings|
|13.7||Roche Holding AG|
|13.7.3||Key Product/Services Offerings|
|13.8||Siemens Healthineers AG.|
|13.8.3||Key Product/Services Offerings|
|13.9.3||Key Product/Services Offerings|
|1.1.3||Key Product/Services Offerings|
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AI in Healthcare market published by Market Industry Reports delivers thorough information on all the impacting factors starting from the drivers, restraints, opportunities, threats, and challenges. It also offers the COVID-19 impact on the AI in Healthcare market that has not only affected the businesses but also impacted the demand, logistics, the supply of raw materials, and more. The report further states valuable insights on the external factors as well including the import and export status, the product price, innovations in products, and much more.
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Major Key Players of the AI in Healthcare Market are:
NVIDIA Corporation, Intel Corporation, GENERAL ELECTRIC COMPANY, Siemens Healthcare Private Limited, Koninklijke Philips N.V., IBM, Google, Micron Technology, Inc., Medtronic, and Microsoft among others.
Major Types of AI in Healthcare covered are:
Hardware, Software, and Services
Major Applications of AI in Healthcare covered are:
Inpatient Care & Hospital Management, Medical Imaging & Diagnostics, Patient Data and Risk Analysis, and Virtual Assistant
- Increasing innovations in the materials for rising number of applications
- Higher demand by the end users
- Reasonably priced product for different applications
- Easy available substitutes in the market
- Rising funding by the investors
- Unexplored regions in the developing economies
- Better marketing of cheaper substitutes, hence consumer shift towards them
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Regional and Competitors Landscape:
Geographically, the AI in Healthcare report covers key regions that offer deep insights on demographic details like gender, income, age-wise preference for products and more. In terms of competitive landscape, AI in Healthcare market adopts major marketing strategies including partnerships, mergers and acquisition, joint ventures, new product development, and more.
The key highlights of the AI in Healthcare Market include:
- Detailed study of the AI in Healthcare market including thorough evaluation of the parent industry
- Thorough analysis of the industry offering an understanding of the industry size and the commercial landscape
- The AI in Healthcare market assessment by upstream and downstream raw materials, current industry dynamics, and following consumer analysis
- The analysis also comprises all the impacting factors on the global AI in Healthcare market
- Exhaustive understanding about the AI in Healthcare market plans are being adopted by the prominent industry players
- Value chain analysis offers clearer understanding of the key understanding of main intermediaries included and their private roles at every stage of value chain
Table of Content:
Section 1: Market Insights
1.1 Scope of Research
1.2 Key Market Categories
1.3 Regulatory Landscape by Country/Region
1.4 Market Investment Scene
1.5 Market Analysis by Product Type
1.5.1 Global AI in Healthcare Market Share by Product Type
1.6 Market by Application
1.6.1 Global AI in Healthcare Market Share by Application
1.7 Market by End User
1.7.1 Global AI in Healthcare Market Share by End User
1.8. AI in Healthcare Market Development Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Overview
1.8.2 COVID-19 Impact on AI in Healthcare Market Development
Section 2: Global Market Growth Trends
2.1 Market Trends
2.1.1 SWOT Analysis
2.1.2 Porter’s Five Forces Analysis
2.2 Potential Market and Growth Potential Analysis
2.3 Market Latest Trends and Policies by Regions
2.4 Market Trends during COVID-19
Section 3: AI in Healthcare Market Value Chain
3.1 Value Chain Position
3.2 AI in Healthcare Manufacturing Cost Composition Analysis
3.3 Marketing and Sales Model Analysis
3.4 Downstream Key Consumer Analysis (Region-wise)
3.5 Value Chain Status during COVID-19
Section 4: Players Profiles
Section 5: Regions AI in Healthcare Market Analyses
5.1 AI in Healthcare Revenue, Sales, and Market Share by Regions
5.1.1 AI in Healthcare Revenue by Regions
5.1.2 AI in Healthcare Sales by Regions
5.2 North America AI in Healthcare Growth Rate and Sales
5.3 South America AI in Healthcare Growth Rate and Sales
5.4 Europe AI in Healthcare Growth Rate and Sales
5.5 Asia-Pacific AI in Healthcare Growth Rate and Sales
5.6 Middle East and Africa AI in Healthcare Growth Rate and Sales
Section 6: AI in Healthcare Market Segment by Product Type
6.1 AI in Healthcare Revenue, Sales and Market Share by Product Type
6.1.1 AI in Healthcare Market Share and Sales by Product Type
6.1.2 AI in Healthcare Market Share and Revenue by Product Type
Section 7: AI in Healthcare Market Segment by Applications
7.1 AI in Healthcare Revenue, Sales and Market Share by Applications
7.1.1 AI in Healthcare Market Share and Sales by Applications
7.1.2 AI in Healthcare Market Share and Revenue by Applications
Section 8: AI in Healthcare Market Segment by End User
8.1 AI in Healthcare Revenue, Sales and Market Share by End User
8.1.1 AI in Healthcare Market Share and Sales by End User
8.1.2 AI in Healthcare Market Share and Revenue by End User
Section 9: AI in Healthcare Market Forecast by Regions
9.1 AI in Healthcare Revenue, Sales, and Growth Rate
9.2 AI in Healthcare Market Forecast by Regions
9.2.1 North America AI in Healthcare Market Forecast
9.2.2 South America AI in Healthcare Market Forecast
9.2.3 Europe AI in Healthcare Market Forecast
9.2.4 Asia-Pacific AI in Healthcare Market Forecast
9.2.5 Middle East and Africa AI in Healthcare Market Forecast
9.3 AI in Healthcare Market Forecast by Product Types
9.4 AI in Healthcare Market Forecast by Applications
9.5 AI in Healthcare Market Forecast by End User
9.6 AI in Healthcare Market Forecast during COVID-19 pandemic
Section 10: Appendix
10.1 Source of Researched Data
10.2 Research Methodology
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