![](https://ainews.one/wp-content/uploads/2023/08/fb.png)
CHICAGO, Feb. 5, 2024 /PRNewswire/ — The AI in Healthcare market is projected to grow from USD 20.9 billion in 2024 and is estimated to reach USD 148.4 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 48.1% from 2024 to 2029 according to a new report by MarketsandMarkets. The growth of the AI in Healthcare market is driven by the growing need for improvised healthcare services due to the imbalance between the healthcare workforce and patients; improving computing power, and declining hardware cost.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54679303
Browse in-depth TOC on “Artificial Intelligence (AI) in Healthcare Market”
250 – Tables
65 – Figures
280 – Pages
Artificial Intelligence (AI) in Healthcare Market Report Scope:
Report Coverage |
Details |
Market Revenue in 2024 |
$ 20.9 billion |
Estimated Value by 2029 |
$ 148.4 billion |
Growth Rate |
Poised to grow at a CAGR of 48.1% |
Market Size Available for |
2020-2029 |
Forecast Period |
2024-2029 |
Forecast Units |
Value (USD Million/Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Offering, Technology, Application, End User & Region |
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge |
Lack of curated healthcare data |
Key Market Opportunities |
The growing potential of AI-based tools for elderly care |
Key Market Drivers |
Generation of large and complex healthcare datasets |
By offering, the services are projected to grow at a high CAGR of AI in the healthcare market during the forecast period.
AI plays a pivotal role across diverse healthcare applications, necessitating the implementation of sophisticated algorithms for tasks ranging from patient data analysis to drug discovery. Its applications span patient care, risk analysis, lifestyle management, precision medicine, medical imaging, and more. Successful AI deployment hinges on comprehensive services such as deployment, integration, and ongoing support and maintenance. Key players in the AI services in the healthcare market, including Microsoft, Johnson & Johnson Services, Medtronic, Siemens Healthineers, and Koninklijke Philips, offer a spectrum of support services. These encompass online and offline assistance, installation, training, and post-maintenance, ensuring seamless integration and optimal functioning of AI systems in the dynamic healthcare landscape.
Machine learning technology in AI in healthcare market is expected to account for the largest share during the forecast period.
Machine learning revolutionizes computing by training systems to learn from data without explicit programming. Instead of predefined instructions, machine learning relies on algorithms to discern patterns and relationships in data, enhancing accuracy and performance with increased exposure to information. Key attributes include data-driven processes, adaptability to new data, and the absence of explicit programming. In healthcare, machine learning intersects with AI, offering transformative applications. It aids in medical diagnosis and imaging by detecting diseases in early stages through image analysis and predicting risks based on electronic health records. Additionally, it accelerates drug discovery, optimizes administrative tasks, and enhances public health initiatives by tracking outbreaks and identifying high-risk individuals. Despite its potential, challenges like data privacy, algorithmic bias, and ethical considerations underscore the importance of careful integration and human oversight in the evolving healthcare landscape shaped by machine learning.
Medical Imaging & Diagnostics segment will account for highest CAGR during the forecast period.
AI is reshaping medical imaging and diagnostics, steering in a new era of precision and efficiency. By employing super-resolution techniques, AI reconstructs lower-resolution medical images into highly detailed visuals, aiding in more accurate diagnoses. Automated image analysis and detection capabilities enable AI algorithms to swiftly identify abnormalities, such as tumors or fractures, streamlining the diagnostic process. Moreover, AI’s role in personalized medicine is pivotal, predicting disease risks and treatment responses, and even assisting in surgical planning. This transformative technology enhances the accuracy of diagnoses and contributes to more efficient workflows, improved accessibility to diagnostics, and the potential for personalized treatment strategies.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=54679303
Asia Pacific will account for the highest CAGR during the forecast period.
The increasing geriatric population in Asia Pacific countries is one of the major drivers for the growth of the AI in healthcare industry. According to the United Nations ESCAP report 2023 a significant demographic shift in Asia and the Pacific, projecting that the older population will surpass 1.3 billion by 2050, doubling from 630 million in 2020. In 2020, 13.6% of the region’s population was aged 60 or above, a figure expected to rise to one-quarter by 2050. According to the National Library of Medicine, 2023. In 2017, the Asia-Pacific region had 9.8% of its total population comprised of older adults. Projections indicate a rise to 13.7% by 2030 and a further increase to 20.3% by 2050. Notably, Japan, China, and Hong Kong are poised to lead globally with the highest percentage of individuals aged 80 and above.
Key Players
Key companies operating in the AI in healthcare companies are Koninklijke Philips N.V. (Netherlands), Microsoft (US), Siemens Healthineers AG (Germany), Intel Corporation (US), NVIDIA Corporation (US), Google Inc. (US), GE HealthCare Technologies Inc. (US), Oracle (US), and Johnson & Johnson Services, Inc. (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
Related Reports:
Artificial Intelligence in Manufacturing Market Size, Share & Industry Growth Analysis Report by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing), Application (Predictive Maintenance & Machinery Inspection, Cybersecurity) – Global Forecast to 2028
Artificial Intelligence (chipsets) Market by Technology (Machine Learning, Natural Language Processing, Computer Vision), Function (Training, Inference), Hardware (Processor, Memory, Network), End-user Industry and Region – Global Forecast to 2028
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
Industry 4.0 Market Size, Share & Industry Growth Analysis Report by Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV’s, Machine Condition Monitoring) and Geography – Global Growth Driver and Industry Forecast to 2026
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
About MarketsandMarkets
MarketsandMarkets has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
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.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
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.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
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
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/artificial-intelligence-ai-in-healthcare-market-worth-148-4-billion-by-2029—exclusive-report-by-marketsandmarkets-302052960.html