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Global AI in Healthcare Market By Technology (Machine Learning, Computer Vision, Others), By Offering (Software and Hardware), By Application (Visual Assistants, Research, Others), By End-Users, By Region, Forecast & Opportunities to 2026

The global AI in healthcare market accounted for a value of USD 4.0 billion in 2019 and is projected to register growth at a CAGR of 37.9% during forecast period.

COVID-19 has impacted the AI in healthcare market. The government has implemented various initiatives such as lockdown, social distancing and travel restriction norms. The social distancing is very hard to follow inside the hospital and there is high chance of spreading corona viruses among healthcare staff. The adoption of AL and various other technologies in healthcare helps in maintaining social distancing while taking care of corona virus patience. The remote monitoring is also possible using AI in healthcare and it helps in tracking corona virus patients. The market for AI is likely witness growth due to COVID-19.

Definition:

Artificial intelligence (AI) in healthcare can be defined as use of machine-learning algorithms, AI and software to emulate human condition in the interpretation, analysis and comprehension of complicated healthcare data. AI the ability of computer algorithms to draw approximate conclusions based on input data.

Market Dynamics (Drivers/Opportunities):

The volume of healthcare data is increasing and the complexities of datasets are also increasing and this increases demand for AI. The need to reduce healthcare cost is also increasing among population. The AI makes healthcare operation convenient. The imbalance between health workforce and patients is rising and this increases demand for improvised healthcare services. The adoption of AI in healthcare is rapidly increasing and this drives growth in AI in healthcare market during forecast period.

The use of machine learning and bid data analytics is rapidly increasing in healthcare segment. The adoption of precision medicine is also increasing and the use of AI leads to decrease in hardware cost. The outbreak of corona virus has also leads to increase in adoption of artificial intelligence. Thus, drives growth in the AI in healthcare market during forecast period.

Market Insights, by Offering

On the basis of offering, the AI in healthcare market is segmented into software and hardware. The software segment is estimated to hold largest market share during forecast period. The software solutions are developed by various companies for healthcare applications. The adoption of AI-driven healthcare informatics solutions is growing immensely. This increases the adoption of software in healthcare sector and drives growth in software segment during forecast period.

Market Insights, by Technology

On the basis of technology, the AI in healthcare market is segmented into machine learning, natural language processing, computer vision and contest-aware computing. The machine learning segment is estimated grow at highest CAGR during forecast period. The adoption of deep learning in healthcare applications is increasing especially in the areas of medical imaging, drug discovery and disease diagnostics. The use of different devices and sensors to track patient’s health status in real time is increasing. This drives growth in machine learning segment during forecast period.

Market Insights, by Application

On the basis of application, the AI in healthcare market is segmented into patient data & risk analysis, medical imaging & diagnostics, inpatient care & hospital management, lifestyle management & patient monitoring, visual assistants, drug discovery, research, healthcare assistance robots, cybersecurity, mental health, wearables, emergency room & surgery and precision medicine. The medical imaging & diagnostics segment is estimated to grow at highest CAGR during forecast period. There is a large volume of imaging data available and AI system offers various advantages in healthcare segment. This drives growth in medical imaging & diagnostics segment during forecast period.

Regional Insights

North America region accounted for largest market share in 2019. However, Asia-Pacific region is estimated to be the fastest growing segment during forecast period. The healthcare infrastructure is improving and implementing AI and gradually adopting different advanced technologies. The government is adopting various initiatives for supporting AI technology. This increases implementation of AI in healthcare sector in Asia-Pacific region and drives growth in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in AI in healthcare market are NVIDIA, Intel, IBM, Google, Microsoft, General Electric Company, Siemens Healthineers, Medtronic, Micron Technology, Amazon Web Services, Johnson & Johnson Services, General Vision, Koninklijke Philips, Nuance Communication, DeepMind Technologies and Zebram Medical Vision.

Segments Covered in the Report

This report forecasts The Global AI in Healthcare Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global AI in healthcare market report on the basis of offering, technologies, application and end-users.

AI in Healthcare Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. AI in Healthcare Market, By Offering, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Software
  • Hardware
  1. AI in Healthcare Market, By Technology, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Machine Learning
  • Natural Language Processing
  • Computer Vision
  • Contest-Aware Computing
  1. AI in Healthcare Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Patient Data & Risk Analysis
  • Medical Imaging & Diagnostics
  • Inpatient Care & Hospital Management
  • Lifestyle Management & Patient Monitoring
  • Visual Assistants
  • Drug Discovery
  • Research
  • Healthcare Assistance Robots
  • Cybersecurity
  • Mental Health
  • Wearables
  • Emergency Room & Surgery
  • Precision Medicine
  1. AI in Healthcare Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Hospitals & Healthcare Providers
  • Patients
  • Healthcare players
  • Pharmaceuticals & Biotechnology Companies
  • Others
  1. AI in Healthcare Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Offering
    • By Technology
    • By Application
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Offering
      • By Technology
      • By Application
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Offering
        • By Technology
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Offering
          • By Technology
          • By Application
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Offering
            • By Technology
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Zebram Medical Vision
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • NVIDIA
    • Intel
    • IBM
    • Google
    • Microsoft
    • General Electric Company
    • Siemens Healthineers
    • Medtronic
    • Micron Technology
    • Amazon Web Services
    • Johnson & Johnson Services
    • General Vision
    • Koninklijke Philips
    • Nuance Communication
    • DeepMind Technologies
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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