AI impact in various businesses has started to emerge, but how about Artificial intelligence in Healthcare industry? As of Data Bridge Market Research’s predictions, the market will reach USD 123.14 billion by 2028 and will grow at a CAGR of 50.87% during 2021-2028.
The increased demand for more automated processes when it comes to the analysis of complex customer databases, the need to decrease the healthcare spending, and the rising preference of patients to get access to more personalized healthcare are some of the reasons why AI market size will significantly increase in the next few years.
Market Segmentation
By Offering: includes hardware, software, and services. Software is the main player in the AI healthcare market as AI works by utilizing complex algorithms through software deployment.
By Technology: includes machine learning, natural language processing, context-aware computing, and computer vision. In this segment, machine learning dominates because of its ability to analyze big data and give valuable insights to physicians.
By Application: includes robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, and more. The most common application is robot-assisted surgery which is used in surgical procedures and has the ability to give information from the patient’s medical records in real-time.
By End User: some include patients, pharmaceuticals and biotechnology companies, hospitals & healthcare providers. The most common end-user is hospitals & healthcare providers due to the rising demand for Telehealth, especially after the Covid-19 pandemic.
Source: https://www.rawpixel.com/
Some of the main AI companies in healthcare
NVIDIA Corporation, Intel Corporation, IBM, Google LLC, Microsoft, General Vision Inc., GENERAL ELECTRIC COMPANY, Johnson & Johnson Services, Inc., Siemens Healthcare Private Limited, Medtronic.
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Credit: Stillwater Current, VALUE Market Research, GlobeNewsWire
Contributor: Magdalena Karteris
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