AI in Healthcare Market Trends, Size, Growth, Demand, Analysis, Revenue, Future Outlook
AI in Healthcare Market Growth, Size, Trends Analysis - By Platform, By Application, By Technology, By End-User - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jan-2025 | Report ID: HLCA2501 | Pages: 1 - 256 | Formats*: |
| Category : Healthcare | |||
AI in Healthcare Market Introduction and Overview
According to SPER Market Research, the Global AI in Healthcare Market is estimated to reach USD 165.78 billion by 2034 with a CAGR of 49.38%.
The aging population and rise of chronic diseases necessitate early disease detection, particularly for conditions like dementia and heart problems. Analyzing medical images using AI/ML can help identify patterns and personalize treatment plans. This, combined with increasing demand for AI-powered healthcare and government support, is driving the adoption of AI tools in Healthcare Industry. However, Strict data privacy laws are impeding the adoption of AI in healthcare. Security issues, such as breaches and hacks, make it difficult to access and aggregate patient data for AI development. These problems damage patient confidence and may have serious legal and reputational repercussions for all parties.
By Platform: Key investments and product launches are fueling the expansion of the AI healthcare sector.
The solutions segment dominated in 2024, driven by innovations like Microsoft Fabric, which integrates various technologies to enhance data analysis. Meanwhile, the services segment, though growing at a slower pace, is benefiting from advancements such as virtual care solutions. An example is Sensely's Virtual Primary Care, which connects patients with healthcare teams through voice-enabled virtual assistants.
By Application: Robot-Assisted Surgery Segment Leads the Market at Highest CAGR
The robot-assisted surgery segment led the market, driven by technological advancements like Medtronic's Hugo RAS system approval in Europe for urological and gynecological procedures in 2024. AI tools' benefits, including improved efficiency and enhanced decision-making in surgeries, further contributed to the segment's growth.
By Technology: Machine Learning Technology Dominates the Healthcare Market
In 2024, the ML technology segment dominate the market, as machine learning effectively analyzes vast healthcare data, such as EHRs, medical imaging, and genomic data. This enables data-driven decisions, early disease detection, personalized treatments, and improved patient outcomes through accurate and timely interventions.
By End User: Healthcare Companies and Healthcare Providers Segment Expected to Expand with AI Advancements
The market dominated by healthcare companies in 2024, thanks to the use of AI in clinical trials, medication research, and genomic data, which allowed for more effective trials and individualized therapies. AI speeds up the drug-discovery process as well. The segment for healthcare providers is anticipated to expand as a result of AI-powered medical imaging that improves early disease detection and diagnostic accuracy and predictive analytics that improves hospital management, resource allocation, and patient care.
By Region: North America has the highest revenue of AI in Healthcare Market.
North America led the AI in healthcare market with over 45% of the revenue share, driven by advancements in IT infrastructure, increased healthcare spending, AI/ML adoption, government support, funding, and key players. Europe is expected to be the second-largest market, benefiting from improved drug discovery and streamlined healthcare delivery.
Market Competitive Landscape
The AI in Healthcare Market is moderately fragmented. Some of the market key players are Amazon Web Services, Cognizant, Epic Systems Corporation, GE Healthcare, Google, Johnson & Johnson, Koninklijke Philips N.V., Medtronic, Microsoft, Merative (formerly IBM Watson Health), NVIDIA Corporation, Oracle, Riverian Technologies, Siemens Healthineers AG, SOPHiA GENETICS, TeraRecon, Tempus, 3M, Veradigm LLC, Viz.ai, and others.
Recent Developments:
- Microsoft and NVIDIA partnered in March 2024 to expedite computing capabilities and foster AI innovation. Together with NVIDIA's DGX Cloud and Clara suite, this partnership takes advantage of Microsoft Azure's global reach and cutting-edge computing to spur innovation and enhance patient care.
- Koninklijke Philips N.V. and Vestre Viken Health Trust in Norway partnered in November 2023 to implement the AI Manager platform, which improved radiology workflows. Radiologists were able to concentrate on challenging patients by using the AI-enabled bone fracture program to speed diagnostics.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Platform, By Application, By Technology, By End-User. |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Amazon Web Services, Cognizant, Epic Systems Corporation, GE Healthcare, Google, Johnson & Johnson, Koninklijke Philips N.V., Medtronic, Microsoft, Merative (formerly IBM Watson Health), NVIDIA Corporation, Oracle, Riverian Technologies, Siemens Healthineers AG, SOPHiA GENETICS, TeraRecon, Tempus, 3M, Veradigm LLC, Viz.ai, and others. |
Key Topics Covered in the Report:
- Global AI in Healthcare Market Size (FY’2021-FY’2034)
- Overview of Global AI in Healthcare Market
- Segmentation of Global AI in Healthcare Market By Platform (Solution, Services)
- Segmentation of Global AI in Healthcare Market By Application (Robot-assisted Surgery, Virtual Assistants, Administrative Workflow Assistants, Connected Medical Devices, Medical Imaging & Diagnostics, Clinical Trials, Fraud Detection, Cybersecurity, Dosage Error Reduction, Precision Medicine, Drug Discovery & Development, Lifestyle Management & Remote Patient Monitoring, Others)
- Segmentation of Global AI in Healthcare Market By Technology (Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision)
- Segmentation of Global AI in Healthcare Market By End-User {(Healthcare Providers (Hospitals, Outpatient Facilities, and Others), Healthcare Payers, Healthcare Companies (Pharmaceutical, Biotechnology, Medical Devices), Patients, Others}
- Statistical Snap of Global AI in Healthcare Market
- Expansion Analysis of Global AI in Healthcare Market
- Problems and Obstacles in Global AI in Healthcare Market
- Competitive Landscape in the Global AI in Healthcare Market
- Impact of COVID-19 and Demonetization on Global AI in Healthcare Market
- Details on Current Investment in Global AI in Healthcare Market
- Competitive Analysis of Global AI in Healthcare Market
- Prominent Players in the Global AI in Healthcare Market
- SWOT Analysis of Global AI in Healthcare Market
- Global AI in Healthcare Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global AI in Healthcare Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global AI in Healthcare Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global AI in Healthcare Market
7. Global AI in Healthcare Market, By Platform (USD Million) 2021-2034
7.1. Solution7.2. Services
8. Global AI in Healthcare Market, By Application (USD Million) 2021-2034
8.1. Robot-assisted Surgery8.2. Virtual Assistants8.3. Administrative Workflow Assistants8.4. Connected Medical Devices8.5. Medical Imaging & Diagnostics8.6. Clinical Trials8.7. Fraud Detection8.8. Cybersecurity8.9. Dosage Error Reduction8.10. Precision Medicine8.11. Drug Discovery & Development8.12. Lifestyle Management & Remote Patient Monitoring8.13. Others
9. Global AI in Healthcare Market, By Technology (USD Million) 2021-2034
9.1. Machine Learning
9.1.1. Deep Learning9.1.2. Supervised9.1.3. Unsupervised9.1.4. Others (Reinforcement Learning, Semi-supervised)
9.2. Natural Language Processing
9.2.1. Smart Assistance9.2.2. OCR (Optical Character Recognition)9.2.3. Auto Coding9.2.4. Text Analytics9.2.5. Speech Analytics9.2.6. Classification & Categorization
9.3. Context-aware Computing9.4. Computer Vision
10. Global AI in Healthcare Market, By End-User (USD Million) 2021-2034
10.1. Healthcare Providers (Hospitals, Outpatient Facilities, and Others)10.2. Healthcare Payers10.3. Healthcare Companies (Pharmaceutical, Biotechnology, Medical Devices)10.4. Patients10.5. Others
11. Global AI in Healthcare Market (USD Million) 2021-2034
11.1. Global AI in Healthcare Market Size and Market Share
12. Global AI in Healthcare Market, By Region (USD Million) 2021-2034
12.1. Asia-Pacific
12.1.1. Australia12.1.2. China12.1.3. India12.1.4. Japan12.1.5. South Korea12.1.6. Rest of Asia-Pacific
12.2. Europe
12.2.1. France12.2.2. Germany12.2.3. Italy12.2.4. Spain12.2.5. United Kingdom12.2.6. Rest of Europe
12.3. Middle East and Africa
12.3.1. Kingdom of Saudi Arabia12.3.2. United Arab Emirates12.3.3. Qatar12.3.4. South Africa12.3.5. Egypt12.3.6. Morocco12.3.7. Nigeria12.3.8. Rest of Middle-East and Africa
12.4. North America
12.4.1. Canada12.4.2. Mexico12.4.3. United States
12.5. Latin America
12.5.1. Argentina12.5.2. Brazil12.5.3. Rest of Latin America
13. Company Profile
13.1. Amazon Web Services
13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments
13.2. Cognizant
13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments
13.3. Epic Systems Corporation
13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments
13.4. GE Healthcare
13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments
13.5. Google
13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments
13.6. Johnson & Johnson
13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments
13.7. Koninklijke Philips N.V.
13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments
13.8. Medtronic
13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments
13.9. Microsoft
13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments
13.10. Merative (formerly IBM Watson Health)
13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments
13.11. NVIDIA Corporation
13.11.1. Company details13.11.2. Financial outlook13.11.3. Product summary13.11.4. Recent developments
13.12. Oracle
13.12.1. Company details13.12.2. Financial outlook13.12.3. Product summary13.12.4. Recent developments
13.13. Riverian Technologies
13.13.1. Company details13.13.2. Financial outlook13.13.3. Product summary13.13.4. Recent developments
13.14. Siemens Healthineers AG
13.14.1. Company details13.14.2. Financial outlook13.14.3. Product summary13.14.4. Recent developments
13.15. SOPHiA GENETICS
13.15.1. Company details13.15.2. Financial outlook13.15.3. Product summary13.15.4. Recent developments
13.16. TeraRecon
13.16.1. Company details13.16.2. Financial outlook13.16.3. Product summary13.16.4. Recent developments
13.17. Tempus
13.17.1. Company details13.17.2. Financial outlook13.17.3. Product summary13.17.4. Recent developments
13.18. 3M
13.18.1. Company details13.18.2. Financial outlook13.18.3. Product summary13.18.4. Recent developments
13.19. Veradigm LLC
13.19.1. Company details13.19.2. Financial outlook13.19.3. Product summary13.19.4. Recent developments
13.20. Viz.ai
13.20.1. Company details13.20.2. Financial outlook13.20.3. Product summary13.20.4. Recent developments
13.21. Others
14. Conclusion
15. List of Abbreviations
16. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
AI in Healthcare Market size is USD 165.78 billion from 2024 to 2033.
AI in Healthcare Market is covered By Platform, By Application, By Technology, By End-User.
The North America is anticipated to have the highest Market share in the AI in Healthcare Market.
The key players in the Market include Companies Covered Amazon Web Services, Cognizant, Epic Systems Corporation, GE Healthcare, Google, Johnson & Johnson, Koninklijke Philips N.V., Medtronic, Microsoft, Merative (formerly IBM Watson Health), NVIDIA Corporation, Oracle, Riverian Technologies, Siemens Healthineers AG, SOPHiA GENETICS, TeraRecon, Tempus, 3M, Veradigm LLC, Viz.ai, and others.
The aging population and rise of chronic diseases necessitate early disease detection, particularly for conditions like dementia and heart problems. Analyzing medical images using AI/ML can help identify patterns and personalize treatment plans. This, combined with increasing demand for AI-powered healthcare and government support, is driving the adoption of AI tools in Healthcare Industry.
AI in Healthcare Market is projected to reach USD 165.78 billion by 2033, growing at a CAGR of 49.38% during the forecast period.
AI in Healthcare Market grew in Market size from 2024. The Market is expected to reach USD 165.78 billion by 2033, at a CAGR of 49.38% during the forecast period.
AI in Healthcare Market CAGR of 49.38% during the forecast period.
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