Product Code: GVR-3-68038-951-7
AI In Healthcare Market Growth & Trends:
The global AI in healthcare market size is expected to reach USD 187.7 billion by 2030, registering a CAGR of 38.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. AI acts as a transformative force in healthcare systems, shifting them from reactive to proactive, predictive, and preventive models. Clinical decision support systems, fueled by artificial intelligence (AI), empower physicians and healthcare professionals with predictive and real-time analytics, enhancing decision-making and elevating care quality, ultimately resulting in improved patient outcomes. Furthermore, AI facilitates a comprehensive understanding of disease biology and patient pathology, advancing precision medicine and precision public health initiatives.
Furthermore, the growing field of life sciences R&D opens numerous opportunities for market growth, with AI's ability to process vast volumes of multidimensional data playing a crucial role. This capability accelerates the generation of novel hypotheses, expedites drug discovery and repurposing processes, and significantly reduces costs and time to market through the utilization of in silico methods. In essence, AI drives innovation and efficiency across the healthcare sector, revolutionizing healthcare delivery worldwide. AI-based technologies are implemented in various healthcare domains, including virtual assistants, robot-assisted surgeries, claims management, cybersecurity, and patient management.
AI algorithms are trained using patient health datasets to optimize disease diagnosis and early detection, enabling the initiation of timely treatment regimens. Supportive government initiatives, funding, a growing number of investments from private investors and venture capitalists, and the emergence of AI-specialized startups globally are key drivers of market growth. For instance, in February 2024, Fabric, a health tech company, raised USD 60 million in series A funding to expand its conversational AI-powered healthcare platform. In September 2023, Amazon announced a USD 4 billion investment in AI in partnership with Anthropic, representing a significant strategic move toward advancing the tech giant's healthcare aspirations.
The emergence of several startups in the AI healthcare market is another significant driver of industry growth. Their presence stimulates investment, encourages technological advancements, and expands the scope of AI applications in healthcare. The collective efforts of these startups fuel momentum in the AI healthcare market, driving greater innovation, efficiency, and effectiveness in delivering healthcare solutions. Notable startup companies in this space include Activate Health, Kahun, Likeminded, and Pharmarun, among others.
AI In Healthcare Market Report Highlights:
- The software solutions component segment dominated the global market in 2023 with the largest revenue share of 46.3%. This large share is attributed to the widespread adoption of AI-based software solutions among care providers, payers, and patients
- The robot-assisted surgery application segment dominated the market in 2023 with the largest revenue share and it is anticipated to witness the fastest CAGR from 2024 to 2030
- A rise in the volume of robot-assisted surgeries and increased investments in the development of new AI platforms are a few key factors supporting the penetration of AI in robot-assisted surgeries
- The machine learning (ML) technology segment held the largest share in 2023 as a result of advancements in ML algorithms across various applications. This trend is expected to continue due to the increasing demand for ML technologies
- The healthcare payers end-use segment is anticipated to experience the fastest CAGR from 2024 to 2030
- In 2023, North America dominated the industry and held the largest share of over 45% owing to advancements in healthcare IT infrastructure, readiness to adopt advanced technologies, presence of several key players, growing geriatric population, and rising prevalence of chronic diseases
- In Asia Pacific, the market is anticipated to witness significant growth over the forecast period
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.3.5.1. Data for primary interviews in North America
- 1.3.5.2. Data for primary interviews in Europe
- 1.3.5.3. Data for primary interviews in Asia Pacific
- 1.3.5.4. Data for primary interviews in Latin America
- 1.3.5.5. Data for Primary interviews in MEA
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Data Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.2. Approach 1: Commodity flow approach
- 1.6.3. Volume price analysis (Model 2)
- 1.6.4. Approach 2: Volume price analysis
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Component outlook
- 2.2.2. Application outlook
- 2.2.3. Technology outlook
- 2.2.4. End-Use outlook
- 2.2.5. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Artificial Intelligence (AI) In Healthcare Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.2. Market restraint analysis
- 3.2.3. Market opportunity analysis
- 3.2.4. Market challenges analysis
- 3.3. Case Studies: Real-World Implementation Success Stories of AI-Driven Healthcare
- 3.4. AI In Healthcare Market Analysis Tools
- 3.4.1. Industry Analysis - Porter's
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
- 3.4.2.4. Environmental Landscape
- 3.4.2.5. Legal Landscape
- 3.4.2.6. Social Landscape
- 3.4.3. Industry Analysis - COVID-19 impact
Chapter 4. Artificial Intelligence (AI) In Healthcare Market: Component Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.2. Segment Dashboard
- 4.3. AI In Healthcare Market Movement Analysis
- 4.4. AI In Healthcare Market Size & Trend Analysis by Component, 2018 to 2030 (USD Million)
- 4.4.1. Software Solutions
- 4.4.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.1. AI platform
- 4.4.1.1.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.1.2. Application Program Interface (API)
- 4.4.1.1.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.1.3. Machine Learning Framework
- 4.4.1.1.1.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.2. AI Solutions
- 4.4.1.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.2.2. On premise
- 4.4.1.1.2.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.1.1.2.3. Cloud based
- 4.4.1.1.2.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2. Hardware
- 4.4.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.1. Processor
- 4.4.2.1.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.1.2. MPU (memory protection unit)
- 4.4.2.1.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.1.3. FPGA (Field-programmable gate array)
- 4.4.2.1.1.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.1.4. GPU (Graphics processing unit)
- 4.4.2.1.1.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.1.5. ASIC (Application-specific integrated circuit)
- 4.4.2.1.1.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.2. Memory
- 4.4.2.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.3. Network
- 4.4.2.1.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.3.2. Adapter
- 4.4.2.1.3.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.3.3. Interconnect
- 4.4.2.1.3.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.2.1.3.4. Switch
- 4.4.2.1.3.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.3. Services
- 4.4.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.3.1.1. Deployment & Integration
- 4.4.3.1.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.3.1.2. Support & Maintenance
- 4.4.3.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.3.1.3. Others (Consulting, Compliance management etc.)
- 4.4.3.1.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.4. Distributed Denial of Service (DDoS) Mitigation
- 4.4.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.5. Security Information and Event Management
- 4.4.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.6. Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
- 4.4.6.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 4.4.7. Others
- 4.4.7.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 5. Artificial Intelligence (AI) In Healthcare Market: Application Estimates & Trend Analysis
- 5.1. Definitions and Scope
- 5.2. Segment Dashboard
- 5.3. AI In Healthcare Market Movement Analysis
- 5.4. AI In Healthcare Market Size & Trend Analyses, by Application, 2018 to 2030 (USD Million)
- 5.4.1. Robot-assisted Surgery
- 5.4.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.2. Virtual Assistants
- 5.4.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.3. Administrative Workflow Assistants
- 5.4.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.4. Connected Medical Devices
- 5.4.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.5. Medical Imagining & Diagnosis
- 5.4.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.6. Clinical Trials
- 5.4.6.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.7. Fraud Detection
- 5.4.7.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.8. Cybersecurity
- 5.4.8.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.9. Dosage Error Reduction
- 5.4.9.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.10. Precision Medicine
- 5.4.10.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.11. Drug Discovery & Development
- 5.4.11.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.12. Lifestyle Management & Remote Patient Monitoring
- 5.4.12.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.13. Wearables
- 5.4.13.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 5.4.14. Others
- 5.4.14.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 6. Artificial Intelligence (AI) In Healthcare Market: Technology Estimates & Trend Analysis
- 6.1. Definitions and Scope
- 6.2. Segment Dashboard
- 6.3. AI In Healthcare Market Movement Analysis
- 6.4. AI In Healthcare Market Size & Trend Analyses, by Technology, 2018 to 2030 (USD Million)
- 6.4.1. Machine Learning
- 6.4.1.1. Market estimates and forecast 2018 to 2030 (USD million)
- 6.4.1.1.1. Deep learning
- 6.4.1.1.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.1.1.2. Supervised
- 6.4.1.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.1.1.3. Unsupervised
- 6.4.1.1.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.1.1.4. Others (Reinforcement learning, Semi supervised)
- 6.4.1.1.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.2. NLP
- 6.4.2.1. Market estimates and forecast 2018 to 2030 (USD million)
- 6.4.2.1.1. Smart Assistance
- 6.4.2.1.1.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.2.1.2. OCR (Optical Character Recognition)
- 6.4.2.1.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.2.1.3. Auto Coding
- 6.4.2.1.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.2.1.4. Text analytics
- 6.4.2.1.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.2.1.5. Speech analytics
- 6.4.2.1.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.2.1.6. Classification and categorization
- 6.4.2.1.6.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 6.4.3. Computer Vision
- 6.4.3.1. Market estimates and forecast 2018 to 2030 (USD million)
- 6.4.4. Context-aware Computing
- 6.4.4.1. Market estimates and forecast 2018 to 2030 (USD million)
Chapter 7. Artificial Intelligence (AI) In Healthcare Market: End-use Estimates & Trend Analysis
- 7.1. Definitions and Scope
- 7.2. Segment Dashboard
- 7.3. AI In Healthcare Market Movement Analysis
- 7.4. AI In Healthcare Market Size & Trend Analyses, By End-Use, 2018 to 2030 (USD Million)
- 7.4.1. Healthcare Providers (Hospitals, Outpatient Facilities, and Others)
- 7.4.1.1. Market estimates and forecast 2018 to 2030 (USD million)
- 7.4.2. Healthcare Payers
- 7.4.2.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 7.4.3. Healthcare Companies
- 7.4.3.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 7.4.4. Patients
- 7.4.4.1. Market estimates and forecast 2018 to 2030 (USD Million)
- 7.4.5. Others
- 7.4.5.1. Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 8. Artificial Intelligence (AI) In Healthcare Market: Regional Estimates & Trend Analysis by Component, Application, Technology & End-use
- 8.1. Regional Market Dashboard
- 8.2. Global Regional Market Snapshot
- 8.3. Market Size, & Forecasts Trend Analysis, 2018 to 2030
- 8.4. North America
- 8.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 8.4.2. U.S.
- 8.4.2.1. U.S. market estimates and forecast, 2018 - 2030 (USD Million)
- 8.4.3. Canada
- 8.4.3.1. Canada market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5. Europe
- 8.5.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 8.5.2. UK
- 8.5.2.1. UK market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.3. Germany
- 8.5.3.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.4. France
- 8.5.4.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.5. Italy
- 8.5.5.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.6. Spain
- 8.5.6.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.7. Sweden
- 8.5.7.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.8. Denmark
- 8.5.8.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.9. Norway
- 8.5.9.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.5.10. Russia
- 8.5.10.1. Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6. Asia Pacific
- 8.6.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 8.6.2. Japan
- 8.6.2.1. Japan market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.3. China
- 8.6.3.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.4. India
- 8.6.4.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.5. Singapore
- 8.6.5.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.6. Australia
- 8.6.6.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.7. South Korea
- 8.6.7.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.6.8. Thailand
- 8.6.8.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7. Latin America
- 8.7.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 8.7.2. Brazil
- 8.7.2.2. Brazil market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7.3. Mexico
- 8.7.3.2. Mexico market estimates and forecast, 2018 - 2030 (USD Million)
- 8.7.4. Argentina
- 8.7.4.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.8. MEA
- 8.8.1. Market estimates and forecasts 2018 to 2030 (USD Million)
- 8.8.2. South Africa
- 8.8.2.1. South Africa market estimates and forecast, 2018 - 2030 (USD Million)
- 8.8.3. Saudi Arabia
- 8.8.3.1. Saudi Arabia market estimates and forecast, 2018 - 2030 (USD Million)
- 8.8.4. UAE
- 8.8.4.1. China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.8.5. Kuwait
- 8.8.5.1. China market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis, By Key Market Participants
- 9.2. Company/Competition Categorization
- 9.2.1. Key Innovators
- 9.2.2. Market Leaders
- 9.2.3. Emerging Players
- 9.3. Vendor Landscape
- 9.3.1. Key company market share analysis, 2023
- 9.3.2. Microsoft
- 9.3.2.1. Company overview
- 9.3.2.2. Financial performance
- 9.3.2.3. Product benchmarking
- 9.3.2.4. Strategic initiatives
- 9.3.3. IBM
- 9.3.3.1. Company overview
- 9.3.3.2. Financial performance
- 9.3.3.3. Product benchmarking
- 9.3.3.4. Strategic initiatives
- 9.3.4. NVIDIA Corporation
- 9.3.4.1. Company overview
- 9.3.4.2. Financial performance
- 9.3.4.3. Product benchmarking
- 9.3.4.4. Strategic initiatives
- 9.3.5. Intel Corporation
- 9.3.5.1. Company overview
- 9.3.5.2. Financial performance
- 9.3.5.3. Product benchmarking
- 9.3.5.4. Strategic initiatives
- 9.3.6. Itrex Group
- 9.3.6.1. Company overview
- 9.3.6.2. Financial performance
- 9.3.6.3. Product benchmarking
- 9.3.6.4. Strategic initiatives
- 9.3.7. GE Healthcare
- 9.3.7.1. Company overview
- 9.3.7.2. Financial performance
- 9.3.7.3. Product benchmarking
- 9.3.7.4. Strategic initiatives
- 9.3.8. Medtronic
- 9.3.8.1. Company overview
- 9.3.8.2. Financial performance
- 9.3.8.3. Product benchmarking
- 9.3.8.4. Strategic initiatives
- 9.3.9. Oracle
- 9.3.9.1. Company overview
- 9.3.9.2. Financial performance
- 9.3.9.3. Product benchmarking
- 9.3.9.4. Strategic initiatives
- 9.3.10. Medidata
- 9.3.10.1. Company overview
- 9.3.10.2. Financial performance
- 9.3.10.3. Product benchmarking
- 9.3.10.4. Strategic initiatives
- 9.3.11. Google
- 9.3.11.1. Company overview
- 9.3.11.2. Financial performance
- 9.3.11.3. Product benchmarking
- 9.3.11.4. Strategic initiatives
- 9.3.12. IQVIA
- 9.3.12.1. Company overview
- 9.3.12.2. Financial performance
- 9.3.12.3. Product benchmarking
- 9.3.12.4. Strategic initiatives