Artificial Intelligence in Healthcare Market worth $102.7 Billion by … – PR Newswire UK
CHICAGO, Feb. 2, 2023 /PRNewswire/ — The AI in Healthcare Market is projected to grow from USD 14.6 Billion in 2023 to USD 102.7 Billion by 2028; it is expected to grow at a CAGR of 47.6% during the forecast period according to a new report by MarketsandMarkets™. The markets growth is attributed to the increasing generation of large and complex healthcare datasets, growing computing power, declining hardware costs, and rising need to reduce healthcare costs. The growing potential of AI technology in genomics, drug discovery, and imaging & diagnostics is expected to create growth opportunities for the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54679303
Browse in-depth TOC on “Artificial Intelligence in Healthcare Market”
206 – Tables
70 – Figures
300 – Pages
Software to account for a larger share of AI in Healthcare market in 2023
Software is expected to hold the majority of the share during the forecast period. Increasing developments in AI software and related software development kits will further propel the market growth in the coming years. The software integrated into computer systems carries out complex operations. It synthesizes the data received from hardware systems and processes it in an AI system to generate an intelligent response. The software is developed using AI technologies, such as machine learning, natural language processing, and deep learning.
In most cases, the software can run in the existing system without any additional requirements for specific hardware. The software can run the specific application without additional hardware, especially for patients, payers, ACOs, and MCOs. AI-related additional hardware is needed in case of faster calculations in healthcare, for example, in medical imaging, drug discovery, and precision medicine.
Machine Learning to hold for the majority of the share in AI in Healthcare market in 2023
Machine Learning is expected to account for the largest market share throughout the forecast period. This is attributed to the enormous availability of data, also called big data, and the increasing adoption of ML by hospitals, research centers, pharmaceutical companies, and other healthcare institutions to improve patient health. ML is being implemented in healthcare to deal with large volumes of data. The time previously dedicated to creating charts and spreadsheets is now being used to seek intelligent ways to automate data analysis. It is used to streamline hospital administrative processes, map and treat infectious diseases, and personalize medical treatments.
Medical Imaging & Diagnostics segment to grow at highest CAGR in AI in Healthcare market
In healthcare, medical imaging generates a large volume of data, and this data is also the most challenging of all in terms of understanding and interpretation. Healthcare AI startups are raising venture capital and have been working in the field of imaging and diagnostics (especially pathology) and extracting insights using machine learning. Zebra Medical Vision, for instance, provides radiologists with AI-enabled assistants that receive imaging scans and automatically analyze them for various clinical findings they have studied. The results are passed onto radiologists, who consider the assistant’s reports when diagnosing.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=54679303
Market in Asia Pacific to hold significant opportunities for the market during forecast period
China, Japan, South Korea, and India are among the major countries driving the AI in Healthcare market in Asia Pacific. In 2022, China held the largest share of the AI in Healthcare market among all countries in Asia Pacific. It is the highest spender on healthcare among the countries in Asia Pacific and is planning to digitize medical records. The healthcare sector in China is rapidly growing, resulting in the introduction of new medical technologies. All these factors, coupled with burgeoning population growth in the country, are expected to increase the healthcare data volume in their respective healthcare systems. This represents a significant untapped opportunity for AI companies operating in the hospitals and healthcare providers segment.
Major vendors in the AI in Healthcare market include Intel Corporation (US), Koninklijke Philips N.V., (Netherlands), Microsoft (US), Siemens Healthineers (Germany), and NVIDIA Corporation (US) among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=54679303
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Artificial Intelligence in Cybersecurity Market by Offering (Hardware, Software, and Service), Deployment Type, Security Type, Technology (ML, NLP, and Context-Aware), Application (IAM, DLP, and UTM), End User and Geography – Global Forecast to 2028
Artificial Intelligence in Manufacturing Market by Offering (Hardware, Software, and Services), Industry, Application, Technology (Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision), & Region (2022-2027)
Artificial Intelligence in Supply Chain Market by Offering, Technology, Application (Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Freight Brokerage), End-User Industry, and Geography – Global Forecast to 2025
Artificial Intelligence (Chipsets) Market by Technology (Machine learning, Natural Language Processing, Context Aware Computing, Computer Vision), Hardware (Processor, Memory, Network), End-User Industry, and region – Global Forecast to 2026
Automotive Artificial Intelligence Market by Offering, Technology (Deep Learning, Machine Learning, Computer Vision, Context-aware Computing and Natural Language Processing), Process, Application, Component and Region – Global Forecast to 2027
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/artificial-intelligence-healthcare-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/artificial-intelligence-healthcare.asp