Healthcare

According to a market report by Lucintel, the future of artificial intelligence in the global healthcare market looks promising with opportunities in the robot-assisted surgery, virtual assistant, administrative workflow assistant, connected machine, diagnosis, clinical trial, fraud detection, cybersecurity, and dosage error reduction applications. The global healthcare market in terms of use of artificial intelligence is expected to reach an estimated $4.8 billion by 2028 with a CAGR of 32% from 2023 to 2028. The major drivers for this market are growing volume and complexity of healthcare datasets, increasing demand for personalized therapy, and rising need for automated insights for certain medical applications, such as health monitoring, treatment design, and digital consultation.



Software solution, hardware, and service are the major component segments of artificial intelligence in the healthcare market. Lucintel forecasts that software solution will remain the largest component segment over the forecast period due to the massive use of AI-based technologies in healthcare for safety reasons, medical research, digital assistants, robot-assisted surgeries, telemedicine, medication error reduction, and fraud identifying.



Within this market, clinical trial is expected to remain the largest application segment due to the growing investments in research and drug delivery, rising number of patent expiry, and increasing demand for more rapid and precise clinical trials to support the development of new medicines.



North America will remain the largest region due to the presence of established healthcare infrastructure, increasing adoption of AL/ML technologies, and rising preference for value-based treatment among patients in the region.

Nuance Communications, IBM, Microsoft, NVIDIA, and Intel are the major suppliers of artificial intelligence in in the global healthcare market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for artificial intelligence in in the global healthcare market by component, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities for Artificial Intelligence in the Global Healthcare Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for artificial intelligence in in the global healthcare market by component, application, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global healthcare market in terms of use of artificial intelligence by component (software solution, hardware, and service), application (robot-assisted surgery, virtual assistant, administrative workflow assistant, connected machine, diagnosis, clinical trial, fraud detection, cybersecurity, and dosage error reduction), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?