According to the latest research report titled, “Artificial Intelligence in Healthcare Market Report (2023 – 2028)” by Mordor Intelligence, the market is estimated to grow at a CAGR of 42.2% during the forecast period.
Artificial intelligence (AI) technologies are used in four main fields: patient monitoring and surveillance, screening and diagnostics, characterization and severity assessment, and prognostic forecasting in patients with COVID-19. Research published in November 2022 in the Journal of Clinical Diagnostics (MDPI Diagnostics), AI systems are useful for complex medical diagnostics that conventional statistical methods cannot handle.
Report Summary
Report Attribute
Details
CAGR (2023 – 2028)
42.2%
Study Period
2023 – 2028
Fastest Growing Market
Asia Pacific
Largest Market
North America
Report Scope
Market Dynamics, Revenue Forecast & Segmentation, Competitive Landscape & Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers
Medical Imaging & Diagnostics to Hold Significant Share in the Market
The rise in the prevalence of chronic diseases, along with product launches by market players, drives the segment.
Who are the top companies in the Artificial Intelligence in Healthcare Market?
The healthcare market is characterized by a large number of players operating both domestically and internationally. As the use of AI continues to grow in healthcare, prominent players in the market are adopting strategies such as product innovations and mergers and acquisitions (M&A) to gain market share and accelerate growth.
Some of the prominent players in the healthcare market
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Key Highlights from the Artificial Intelligence in Healthcare Market Report
1. Medical Imaging and Diagnostics are Expected to Have a Big Presence in the Market
2. North America Holds a Significant Market Share
The use of AI in North American healthcare is driven by the growing adoption of cutting-edge technology, like big data adoption, within healthcare systems. In August 2022 CHOP and Penn Medicine announced the launch of the big data-focused Penn-Chop Kidney Innovation Center. The center will support research to enhance the quality of care for adults and kids with kidney disease.
According to the Association of American Medical Colleges, reported in August 2022 the United States spent USD 4 trillion on health care each year. In addition, the increasing number of chronic diseases across the region has increased the need for diagnostics and improved understanding of diseases in the early stages. According to the International Diabetes Federation (IDF), the number of diabetic patients is expected to rise to 3,288,2 thousand in 2022 and to 3,468,5 thousand in 2045.
As a result, the region faces the challenge of reducing healthcare spending, which can be achieved through the application of AI in healthcare, thus driving AI in healthcare market growth.
What are the latest developments in the Artificial Intelligence in Healthcare Market?
Mordor Intelligence report on the Artificial Intelligence in Healthcare Market segments the market based on product type, application, and geography:
In a nutshell, the Mordor Intelligence Market Research Report provides in-depth market insight to industry players, investors, researchers, consultants, and business strategists, looking for comprehensive details on AI in the healthcare industry. Get a glance at the Artificial Intelligence in Healthcare Market Report (2023 – 2028)
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