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Artificial Intelligence in Healthcare Market Trends and Forecast

The future of  the global artificial intelligence in the 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 artificial intelligence in healthcare market 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.
Artificial Intelligence in Healthcare Market by Component, and Application

A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below. 
Artificial Intelligence in Healthcare Market by Segments

Artificial Intelligence in Healthcare Market by Segment

The study includes trends and forecast for artificial intelligence in the global healthcare market by component, application, and region, as follows:

Artificial Intelligence in Healthcare Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Software Solution
  • Hardware
  • Service

Artificial Intelligence in Healthcare Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Robot-Assisted Surgery
  • Virtual Assistants
  • Administrative Workflow Assistants
  • Connected Machines
  • Diagnosis
  • Clinical Trials
  • Fraud Detection
  • Cybersecurity
  • Dosage Error Reduction

Artificial Intelligence in Healthcare Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Artificial Intelligence Companies in Healthcare Market

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, artificial intelligence companies in the global healthcare market cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the artificial intelligence companies in the global healthcare market profiled in this report include- 

Artificial Intelligence in Healthcare Market Insights

  • 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.
  • 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.

Features of the Artificial Intelligence in Healthcare Market

  • Market Size Estimates: Artificial intelligence in healthcare market size estimation in terms of value ($B)
  • Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Artificial intelligence in healthcare market size by various segments, such as by component, application, and region
  • Regional Analysis: Artificial intelligence in healthcare market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different components, applications, and regions for the artificial intelligence in healthcare market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the artificial intelligence in healthcare market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the artificial intelligence in healthcare market size?
Answer: Artificial intelligence in the global healthcare market is expected to reach an estimated $4.8 billion by 2028.
Q2. What is the growth forecast for artificial intelligence in healthcare market?
Answer: Artificial intelligence in the global healthcare market is expected to grow with a CAGR of 32% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of artificial intelligence in the healthcare market?
Answer: 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.
Q4. What are the major segments for artificial intelligence in healthcare market?
Answer: 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.
Q5. Who are the key artificial intelligence in healthcare companies?
Answer: Some of the key artificial intelligence companies in the global healthcare market are as follows:
  • Nuance Communications
  • IBM
  • Microsoft
  • NVIDIA
  • Intel
Q6. Which artificial intelligence in healthcare segment will be the largest in future?
Answer: 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.
Q7. In artificial intelligence in healthcare market, which region is expected to be the largest in next 5 years?
Answer: 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.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for artificial intelligence in the global healthcare market 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?

For any questions related to artificial intelligence in healthcare market or related to artificial intelligence in healthcare companies, artificial intelligence in healthcare market size, artificial intelligence in healthcare market share, artificial intelligence in healthcare analysis, artificial intelligence in healthcare market growth, artificial intelligence in healthcare market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
 
1. Executive Summary
 
2. Artificial Intelligence in Global Healthcare Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Artificial Intelligence in Global Healthcare Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Artificial Intelligence in Global Healthcare Market by Component 
3.3.1: Software Solution
3.3.2: Hardware 
3.3.3: Service
3.4: Artificial Intelligence in Global Healthcare Market by Application
3.4.1: Robot-Assisted Surgery
3.4.2: Virtual Assistant
3.4.3: Administrative Workflow Assistant
3.4.4: Connected Machine
3.4.5: Diagnosis
3.4.6: Clinical Trial
3.4.7: Fraud Detection
3.4.8: Cybersecurity 
3.4.9: Dosage Error Reduction
 
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
4.1: Artificial Intelligence in the Global Healthcare Market by Region
4.2: Artificial Intelligence in North American Healthcare Market
4.2.1: Artificial Intelligence in North American Healthcare Market by Component: Software Solution, Hardware, and Service
4.2.2: Artificial Intelligence in North American Healthcare Market by Application: Robot-Assisted Surgery, Virtual Assistant, Administrative Workflow Assistant, Connected Machine, Diagnosis, Clinical Trial, Fraud Detection, Cybersecurity, and Dosage Error Reduction
4.3: Artificial Intelligence in European Healthcare Market
4.3.1: Artificial Intelligence in European Healthcare Market by Component: Software Solution, Hardware, and Service
4.3.2: Artificial Intelligence in European Healthcare Market by Application: Robot-Assisted Surgery, Virtual Assistant, Administrative Workflow Assistant, Connected Machine, Diagnosis, Clinical Trial, Fraud Detection, Cybersecurity, and Dosage Error Reduction
4.4: Artificial Intelligence in APAC Healthcare Market 
4.4.1: Artificial Intelligence in APAC Healthcare Market by Component: Software Solution, Hardware, and Service
4.4.2: Artificial Intelligence in APAC Healthcare Market by Application: Robot-Assisted Surgery, Virtual Assistant, Administrative Workflow Assistant, Connected Machine, Diagnosis, Clinical Trial, Fraud Detection, Cybersecurity, and Dosage Error Reduction
4.5: Artificial Intelligence in ROW Healthcare Market 
4.5.1: Artificial Intelligence in ROW Healthcare Market by Component: Software Solution, Hardware, and Service
4.5.2: Artificial Intelligence in ROW Healthcare Market by Application: Robot-Assisted Surgery, Virtual Assistant, Administrative Workflow Assistant, Connected Machine, Diagnosis, Clinical Trial, Fraud Detection, Cybersecurity, and Dosage Error Reduction
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for Artificial Intelligence in the Global Healthcare Market by Component
6.1.2: Growth Opportunities for Artificial Intelligence in the Global Healthcare Market by Application
6.1.3: Growth Opportunities for Artificial Intelligence in the Global Healthcare Market by Region
6.2: Emerging Trends in Artificial Intelligence in the Global Healthcare Market 
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of Artificial Intelligence in the Global Healthcare Market 
6.3.3: Mergers, Acquisitions, and Joint Ventures in Artificial Intelligence in the Global Healthcare Market 
6.3.4: Certification and Licensing
 
7. Company Profiles of Leading Players
7.1: Nuance Communications
7.2: IBM
7.3: Microsoft
7.4: NVIDIA 
7:5: Intel
 
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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