Artificial Intelligence in Healthcare Market To Reach USD 194.4 Billion By 2030 at a CAGR of 38.1% - Valuates Reports

BANGALORE, India, July 28, 2022 /PRNewswire/ -- Artificial Intelligence in Healthcare Market by Offering (Software, Hardware, & Services), Algorithm (Deep Learning, Querying Method, Natural Language Processing, and Context Aware Processing), Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Dosage Error Reduction, Clinical Trial Participant Identifier, Preliminary Diagnosis, and Others), and End User (Healthcare Providers, Pharmaceutical & Biotechnology Companies, Patients, and Payer): Global Opportunity Analysis and Industry Forecast, 2021 - 2030. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.

The Artificial Intelligence in healthcare market size was valued at USD 8.23 billion in 2020 and is projected to reach USD 194.4 billion by 2030, growing at a CAGR of 38.1% from 2021 to 2030. 

Major Factors Driving The Growth of The Ai in Healthcare Market

The increasing volume of healthcare data and rise in complexities of datasets will drive the growth of the market during the forecast period. 

The surge in technological advancements and increase in the need for innovative solutions to enhance various healthcare applications will fuel market growth in the coming years. 

Browse The Table of Contents And List of Figures At https://reports.valuates.com/market-reports/ALLI-Auto-4F189/-artificial-intelligence-in-healthcare

TRENDS INFLUENCING THE GROWTH OF THE GLOBAL AI IN HEALTHCARE MARKET 

Robot-assisted surgeries provide sophisticated treatment with less downtime. It uses specialized technology to navigate hard-to-reach areas. They deliver precise care and treat conditions related to the heart, digestive system, bladder, prostate, and more. Robots' presence in OR is continuously growing in turn fueling the demand for artificial intelligence in healthcare market. They have a lasting impact on surgical teams and are used in all types of surgeries like neck surgeries, prostatectomies, laparoscopic surgery, thoracic, etc. This ultimately leads to shorter hospital stays, less blood loss, and quicker recovery time. 

Misdiagnosis or delayed diagnosis can be a critical issue. AI-powered virtual assistants deliver personalized experiences to patients. The healthcare assistant not only provides medical advice about common ailments or complaints but also aids in scheduling appointments with a doctor or a specialist. It is being deployed extensively in the medical industry to increase patient engagement. This will drive the expansion of artificial intelligence in healthcare market. Most importantly, it provides answers in real-time with 24/7 assistance thereby keeping patients updated on their latest health status. 

Hospital administrative tasks like record maintenance and discharge formalities are repetitive and time-consuming. The use of NLP in healthcare is rising due to its potential to analyze mammoth amounts of datasets. It provides insights into understanding the quality and improving patient health outcomes. NLP processes medical records through computer-assisted coding to compile the content of long chart notes into just important points. It scans the clinical text within seconds to identify what needs to be extracted. This frees up physician and staff resources so that they can focus more on complex matters. It will bolster the growth of artificial intelligence in healthcare market. Earlier, organizations had to spend weeks, months, or even years identifying the crucial data. However, medical staff can reduce the time spent on redundant policies. 

The increasing digitization of health and the emergence of telehealth platforms has made it easier for fraudsters to operate thereby increasing health insurance fraud. AI-built models are used to identify suspicious claims and provider patterns by using past data. This is projected to increase the growth of the artificial intelligence healthcare market  One model builds a baseline for each provider-their volume of claims, the total amount of claims submitted and money billed.  Specific claims are checked to understand whether they are appropriate as per the diagnosis, procedure billing codes, and medical billing history. Providers have to adhere to coding standards, guidelines, and principles. This increases the operational efficiency of insurance companies and decreases instances of fraud or wastage. 

AI-enabled medication safety systems are used by nurses to prevent prescription or medication errors. Failure to communicate drug orders, confusion over similar packaging or names, and illegible handwriting increase the chances of dosage errors. Equipped with a scanner for pills and capsules it verifies medication administration by utilizing visual recognition and machine learning against hospital information systems to check the accuracy. 

AI-powered tools are being used rapidly to combat the spread of the covid 19 pandemic. It is helpful in detecting and diagnosing the virus by providing personalized information that aids in preliminary diagnosis. The advanced capabilities of the technology will boost the expansion of artificial intelligence in healthcare market. They offer precise and exact diagnosis.

Get Your Sample Today: https://reports.valuates.com/request/sample/ALLI-Auto-4F189/_Artificial_Intelligence_in_Healthcare_Market

AI IN HEALTHCARE MARKET SHARE ANALYSIS

Based on offering, the software segment is expected to dominate in the AI in healthcare market share due to continuous innovations catering to the needs of the healthcare industry. While the hardware segment will grow the fastest at a CAGR of 39.5% owing to the rising need for AI hardware systems.

Based on application, the robot-assisted surgery segment will grow the highest generating 2.42 billion in 2020 and is expected to reach USD 50.98 billion in 2030 at a CAGR of 36.6% due to the huge demand for minimally invasive surgeries through AI-assisted systems. The dosage error reduction segment will grow the fastest at a CAGR of 40%. 

Based on end users, the healthcare providers segment will witness significant growth at a CAGR of 37.2% due to rising use for improving patient outcomes, and maintaining EHR. 

Based on the algorithm, the natural language processing segment will grow at a CAGR of 36.9% due to its use in data mining, image recognition, and being a crucial part of AI protocols. 

Based on region, North America is expected to be the largest with a CAGR of 35.6% due to having a well-developed healthcare infrastructure and favorable government support. On the other hand, the Asia-Pacific will grow the fastest at a CAGR of 44.5% due to the rapid adoption of healthcare IT solutions, rising investments in AI development, and extensive R&D initiatives. 

Inquire For Customization : https://reports.valuates.com/request/customisation/ALLI-Auto-4F189/_Artificial_Intelligence_in_Healthcare_Market

Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Inquire For Regional Report: https://reports.valuates.com/request/regional/ALLI-Auto-4F189/_Artificial_Intelligence_in_Healthcare_Market

Key players

• Welltok, Inc.
• Intel Corporation
• Nvidia Corporation
• Google Inc.
• IBM Corporation
• Microsoft Corporation
• General Vision, Inc.
• Enlitic, Inc.
• Next IT Corporation
• iCarbonX

Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/ALLI-Auto-4F189/_Artificial_Intelligence_in_Healthcare_Market

Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-4F189&lic=single-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

-  The global AI In Computer Vision market size is projected to reach USD 43640 million by 2028, from USD 8624.9 million in 2021, at a CAGR of 25.5% during 2022-2028.

-  The global AI in telecommunication market size is projected to reach USD 14990 million by 2027, from USD 1189 million in 2020, at a CAGR of 42.6% during 2021-2027.

-  The global AI Governance market size is projected to reach USD 116.3 million by 2028, from USD 23 million in 2021, at a CAGR of 25.1% during 2022-2028.

-  The global Artificial Intelligence in Manufacturing market size is projected to reach USD 28030 Million by 2027, from USD 1688.4 Million in 2020, at a CAGR of 49.3% during 2021-2027.

-  The global AI in Fintech market is projected to reach USD 17440 million by 2027, from USD 5350.8 million in 2020, at a CAGR of 17.9% during 2021-2027.

-  The global conversational AI market size was valued at USD 5.78 billion in 2020 and is projected to reach USD 32.62 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 20.0% from 2021 to 2030.

-  The global edge AI hardware market size was valued at USD 6.88 billion in 2020, and is projected to reach USD 38.87 billion by 2030, registering a CAGR of 18.8% from 2021 to 2030.

-  The global Edge AI Software market size is projected to reach USD 2773.2 million by 2027, from USD 576 million in 2020, at a CAGR of 24.8% during 2021-2027.

-  The Global Natural Language Processing (NLP) market size is projected to reach USD 3081.5 million by 2028, from USD 843 million in 2021, at a CAGR of 20.1% during 2022-2028.

-  The global Deep Learning market size is projected to reach USD 11910 million by 2028, from USD 2671.2 million in 2021, at a CAGR of 23.6% during 2022-2028.

-  The global Machine Vision market size is projected to reach USD 11380 Million by 2027, from USD 8374.8 Million in 2020, at a CAGR of 4.0% during the forecast period 2021-2027.

-  The global Computer Vision market size is projected to reach USD 13380 million by 2028, from USD 8720 million in 2021, at a CAGR of 6.2% during 2022-2028.

-  The global Edge Computing market size is projected to reach USD 55930 million by 2028, from USD 8237 million in 2021, at a Compound Annual Growth Rate (CAGR) of 31.1% during 2022-2028

-  The global Cloud Computing market size is projected to reach USD 611170 million by 2027, from USD 97010 million in 2020, at a CAGR of 29.2% during 2021-2027.

- The global Captioning and Subtitling Solution market size is projected to reach USD 476.9 million by 2028, from USD 282 million in 2021, at a CAGR of 7.7% during 2022-2028.

- The global Biometrics market size is projected to reach USD 39030 million by 2028, from USD 15900 million in 2021, at a CAGR of 13.2% during 2022-2028.

- The global Automatic Content Recognition market size is projected to reach USD 4879.5 million by 2028, from USD 1543.8 million in 2021, at a CAGR of 17.4% during 2022-2028.

- The global video analytics market size was valued at D4,102.0 million in 2019 and is projected to reach D21,778.0 million by 2027, registering a CAGR of 22.7% from 2020 to 2027.

- The global Text-to-Speech market size is projected to reach USD 5790.1 million by 2028, from USD 2543.1 million in 2021, at a CAGR of 12.3% during 2022-2028.

- The global IoT market size is projected to reach USD 74630 million by 2028, from USD 34250 million in 2021, at a CAGR of 11.6% during 2022-2028.

- The global Open Source Intelligence (OSINT) market size is projected to reach USD 6077.8 million by 2027, from USD 3861.4 million in 2020, at a CAGR of 6.2% during 2021-2027.

- The global Visualization & 3D Rendering Software market size is projected to reach USD 3083.9 million by 2027, from USD 1295.3 million in 2020, at a CAGR of 12.7% during 2021-2027.

- The global big data and business analytics market size was valued at USD 198.08 billion in 2020, and is projected to reach USD 684.12 billion by 2030, growing at a CAGR of 13.5% from 2021 to 2030.

- The global healthcare analytics market size was valued at USD 23.51 billion in 2020 and is projected to reach USD 96.90 billion by 2030, growing at a CAGR of 15.3% from 2021 to 2030.

- The global healthcare information technology (IT) market size was valued at USD 250,577.15 million in 2020 and is projected to reach USD 880,688.75 million by 2030, registering a CAGR of 13.3% from 2021 to 2030.

- The global Healthcare Business Intelligence (BI) market size is projected to reach US$ 15700 million by 2028, from US$ 6633.3 million in 2021, at a CAGR of 12.9% during 2022-2028.

-  Global Artificial Intelligence(AI) in Retail Market Insights and Forecast to 2028

-  Global and United States Artificial Intelligence for Automotive Market Report & Forecast 2022-2028

Similar Reports related to Artificial Intelligence in Healthcare Market

About Us:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

Contact Us:

Valuates Reports
sales@valuates.com 
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg