The Worldwide Healthcare Artificial Intelligence Industry is Expected to Reach $44.5 Billion by 2026

DUBLIN, Jan. 4, 2022 /PRNewswire/ -- The "Healthcare Artificial Intelligence (AI) Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The healthcare artificial intelligence market is expected to reach USD 44.5 billion by 2026, growing at a CAGR of 46.21%.

Several pharmaceutical companies are implementing innovative technologies to boost their growth in the global healthcare industry. Collaboration of GSK with Exscientia identified a small compound for targeted therapeutics and its characteristics towards the specific target using the AI platform. AI is becoming an incredible platform in the pharmaceutical industry.

For instance, Novartis announced Microsoft as a strategic partner in AI and data science to set up an AI innovation lab. Since the last year, over 50+ companies have got machine learning and AI algorithms approvals. During the COVID-19 pandemic, AI played a significant role in the healthcare industry. An analytics study by Accenture combined with clinical applications demonstrated the potential of AI to reduce approximately USD 150 billion per annum by 2026 in the US healthcare system.

The following factors are likely to contribute to the growth of the healthcare artificial intelligence market during the forecast period:

• Increase in patient volume & complexities associated with data fueling demand for AI.
• The shrinking operational workforce in healthcare facilities propelling the need for AI.
• Technological advancement & innovations in AI influencing end-users in the market.
• Rising Investment in advanced drug discovery & development process augmenting the adoption of AI.

Key Highlights

• The healthcare providers segment accounted for the largest market share with around 48% compared to others in 2020.
• According to the research, the publisher estimated that APAC would witness the highest growth in the healthcare artificial intelligence (AI) market during the forecast period.

The study considers a detailed scenario of the present healthcare artificial intelligence market and its market dynamics for the period 2021?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Vendor Analysis

Giant players are focusing on pursuing organic growth strategies to enhance their product portfolio in the healthcare artificial intelligence (AI) market. Several initiatives by the players will complement growth strategies, which are gaining traction among end-users in the market. Rising growth of startups collaborating with key vendors in promoting their artificial intelligence in healthcare applications creating heavy competition in the market.

Key Questions Answered:
1. How big is the healthcare artificial intelligence (AI) market?
2. Which region has the highest share in the healthcare artificial intelligence market?
3. Who are the key players in the healthcare AI market?
4. What are the latest market trends in the healthcare artificial intelligence market?
5. What is the use of AI in the healthcare market?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope Of The Study
4.3.1 Market Segmentation By Component
4.3.2 Market Segmentation By Application
4.3.3 Market Segmentation By Technology
4.3.4 Market Segmentation By End-User
4.3.5 Market Segmentation By Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market At A Glance

7 Introduction
7.1 Healthcare Artificial Intelligence (AI)

8 Market Opportunities & Trends
8.1 Rising Investments In Advanced Drug Discovery & Development Processes
8.2 Mergers, Acquisitions, & Collaborations With Life Science & Medical Device Companies
8.3 Influx/Emergence Of Many Startups In The Healthcare AI Industry

9 Market Growth Enablers
9.1 Increase In Patient Volume & Complexities Associated With Data
9.2 Shrinking Operational Workforce In Healthcare Facilities
9.3 Technological Advancements & Innovations In AI
9.4 Growing Need To Reduce Healthcare Costs Using It & AI Technologies

10 Market Restraints
10.1 High Installation & Implementation Cost Of AI & Related Platforms
10.2 Lack Of Skilled AI Workforce & Resistance Among Healthcare Professionals
10.3 Stringent & Ambiguous Regulations For Healthcare Software & AI Technologies
10.4 Absence Of Interoperability Among Commercially Available Ai Solutions Coupled With Data Privacy Issues

11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
11.3.1 Threat Of New Entrants
11.3.2 Bargaining Power Of Suppliers
11.3.3 Bargaining Power Of Buyers
11.3.4 Threat Of Substitutes
11.3.5 Competitive Rivalry

12 Component
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Hardware
12.3.1 Market Overview
12.3.2 Market Size & Forecast
12.3.3 Hardware: Geography Segmentation
12.4 Software & Services
12.4.1 Market Overview
12.4.2 Market Size & Forecast
12.4.3 Software & Services: Geography Segmentation

13 Application
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Hospital Workflow Management
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Hospital Workflow Management: Geography Segmentation
13.4 Medical Imaging & Diagnosis
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Medical Imaging & Diagnosis: Geography Segmentation
13.5 Drug Discovery & Precision Medicine
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Drug Discovery & Precision Medicine: Geography Segmentation
13.6 Patient Management
13.6.1 Market Overview
13.6.2 Market Size & Forecast
13.6.3 Patient Management: Geography Segmentation

14 Technology
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Machine Learning
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Machine Learning: Geography
14.4 Querying Method
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Querying Method: Geography Segmentation
14.5 Natural Language Processing
14.5.1 Market Overview
14.5.2 Market Size & Forecast
14.5.3 Natural Language Processing: Geography Segmentation
14.6 Other Technology
14.6.1 Market Overview
14.6.2 Market Size & Forecast
14.6.3 Other Technology: Geography Segmentation

15 End-User
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Healthcare Providers
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.3.3 Healthcare Providers: Geography Segmentation
15.4 Pharma-Biotech & Medical Device Companies
15.4.1 Market Overview
15.4.2 Market Size & Forecast
15.4.3 Pharma-Biotech & Medical Device Companies: Geography Segmentation
15.5 Payers
15.5.1 Market Overview
15.5.2 Market Size & Forecast
15.5.3 Payers: Geography Segmentation
15.6 Others
15.6.1 Market Overview
15.6.2 Market Size & Forecast
15.6.3 Other End User: Market By Geography

16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview

17 North America

18 Europe

19 APAC

20 Latin America

21 Middle East & Africa

22 Competitive Landscape
22.1 Competition Overview
22.2 Market Share Analysis
22.2.1 Google
22.2.2 IBM
22.2.3 Intel
22.2.4 Medtronic
22.2.5 Microsoft
22.2.6 NVIDIA
22.2.7 Siemens Healthineers

23 Key Company Profiles
23.1 GOOGLE
23.1.1 Business Overview
23.1.2 Product Offerings
23.1.3 Key Strategies
23.1.4 Key Strengths
23.1.5 Key Opportunities
23.2 INTERNATIONAL BUSINESS MACHINES (IBM)
23.2.1 Business Overview
23.2.2 Product Offerings
23.2.3 Key Strategies
23.2.4 Key Strengths
23.2.5 Key Opportunities
23.3 INTEL CORPORATION
23.3.1 Business Overview
23.3.2 Product Offerings
23.3.3 Key Strategies
23.3.4 Key Strengths
23.3.5 Key Opportunities
23.4 MEDTRONIC
23.4.1 Business Overview
23.4.2 Product Offerings
23.4.3 Key Strategies
23.4.4 Key Strengths
23.4.5 Key Opportunities
23.5 MICROSOFT CORPORATION
23.5.1 Business Overview
23.5.2 Product Offerings
23.5.3 Key Strategies
23.5.4 Key Strengths
23.5.5 Key Opportunities
23.6 NVIDIA CORPORATION
23.6.1 Business Overview
23.6.2 Product Offerings
23.6.3 Key Strategies
23.6.4 Key Strengths
23.6.5 Key Opportunities
23.7 SIEMENS HEALTHINEERS
23.7.1 Business Overview
23.7.2 Product Offerings
23.7.3 Key Strategies
23.7.4 Key Strengths
23.7.5 Key Opportunities

24 Other Prominent Vendors
24.1 ARTERYS
24.1.1 Business Overview
24.1.2 Product Offerings
24.2 CAPTION HEALTH
24.2.1 Business Overview
24.2.2 Product Offerings
24.3 ENLITIC
24.3.1 Business Overview
24.3.2 Product Offerings
24.4 CATALIA HEALTH
24.4.1 Business Overview
24.4.2 Product Offerings
24.5 GENERAL VISION
24.5.1 Business Overview
24.5.2 Product Offerings
24.6 PHILIPS
24.6.1 Business Overview
24.6.2 Product Offerings
24.7 STRYKER
24.7.1 Business Overview
24.7.2 Product Offerings
24.8 SHIMADZU RECURSION PHARMACEUTICALS
24.8.1 Business Overview
24.8.2 Product Offerings
24.9 GE HEALTHCARE
24.9.1 Business Overview
24.9.2 Product Offerings
24.10 REMEDY MEDICAL
24.10.1 Business Overview
24.10.2 Product Offerings
24.11 SUBTLE MEDICAL
24.11.1 Business Overview
24.11.2 Product Offerings
24.12 NETBASE QUID
24.12.1 Business Overview
24.12.2 Product Offerings
24.13 BIOSYMETRICS
24.13.1 Business Overview
24.13.2 Product Offerings
24.14 SENSELY
24.14.1 Business Overview
24.14.2 Product Offerings
24.15 INFORMAI
24.15.1 Business Overview
24.15.2 Product Offerings
24.16 BIOCLINICA
24.16.1 Business Overview
24.16.2 Product Offerings
24.17 OWKIN
24.17.1 Business Overview
24.17.2 Product Offerings
24.18 BINAH.AI
24.18.1 Business Overview
24.18.2 Product Offerings
24.19 ONCORA MEDICAL
24.19.1 Business Overview
24.19.2 Product Offerings
24.20 QURE.AI TECHNOLOGIES
24.20.1 Business Overview
24.20.2 Product Offerings
24.21 LUNIT
24.21.1 Business Overview
24.21.2 Product Offerings
24.22 CARESYNTAX
24.22.1 Business Overview
24.22.2 Product Offerings
24.23 ANJU SOFTWARE
24.23.1 Business Overview
24.23.2 Product Offerings
24.24 IMAGIA CYBERNETICS
24.24.1 Business Overview
24.24.2 Product Offerings
24.25 DEEP GENOMICS
24.25.1 Business Overview
24.25.2 Product Offerings
24.26 WELLTOK INC.
24.26.1 Business Overview
24.26.2 Product Offerings
24.27 MDLIVE
24.27.1 Business Overview
24.27.2 Product Offerings
24.28 MAXQ AI
24.28.1 Business Overview
24.28.2 Product Offerings
24.29 QVENTUS
24.29.1 Business Overview
24.29.2 Product Offerings
24.30 WORKFUSION
24.30.1 Business Overview
24.30.2 Product Offerings

25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations

26 Quantitative Summary

27 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/96c7c

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets