AI in Healthcare Market Strategies of Major Companies, and New Trends to reach $194.14 billion by 2030

AI is widely applicable in the healthcare sector for various purposes such as drug discovery and precision medicine.

WILMINGTON, DELAWARE, UNITED STATES, July 5, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “AI in Healthcare Market by Offering, Algorithm, Application, and End user: Global Opportunity Analysis and Industry Forecast, 𝟐𝟎𝟐𝟎-𝟐𝟎𝟑𝟎,” the AI in healthcare market was valued at 𝐔𝐒𝐃 𝟖.𝟐𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 in 2020, and is anticipated to reach 𝐔𝐒𝐃 𝟏𝟗𝟒.𝟏𝟒 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 by 2030, growing at a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟑𝟖.𝟏% from 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟑𝟎.

Artificial intelligence assists machines to perform any task without human interventions. It uses different algorithms and software that help the machine to inculcate perception and reasoning for various situations. AI is widely applicable in the healthcare sector for various purposes such as drug discovery and precision medicine. In addition, it is used to analyze a patient’s medical data, predict disease onset, and personalize treatment provided to the patient.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐈 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟑𝟎-
https://www.alliedmarketresearch.com/request-sample/2421

Artificial intelligence technologies are widely being employed by policymakers, and medical professionals to manage the outbreak effect and accelerate its early detection, prevention, response, recovery and to pace the research. Furthermore, the companies are increasingly focusing on expanding their geographical reach and introducing newer, innovative solutions through various strategies, including partnerships, product launches, and collaborations.

In April 2020, Microsoft investment USD 20 million to help in COVID-19 research with the use of artificial intelligence technology and data sciences, mainly focusing on hospital resources, diagnostics, and other critical areas. In addition, rise in investments in AI by start-ups propels the market growth. For instance, Analytics 4 life, a Toronto-based start-up, raised around USD 29.0 million to develop a new medical imaging technology, using AI algorithms for cardiac diagnostics.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐌𝐨𝐫𝐞, 𝐂𝐨𝐧𝐧𝐞𝐜𝐭 𝐭𝐨 𝐨𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭-
https://www.alliedmarketresearch.com/connect-to-analyst/2421

By offering segment, the Artificial intelligence in healthcare market is divided into hardware, software, and services. The software segment was the major revenue contributor in 2020 and is anticipated to remain dominant with a CAGR of 37.7% during the forecast period. Surge in adoption of AI-driven healthcare informatics solutions and healthcare operational support by hospitals and other healthcare service providers are expected to drive the market growth owing to the increased development of AI-based software solutions.

By region, the Artificial intelligence in healthcare market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted largest share in 2020, and is expected to remain dominant throughout the forecast period with A CAGR of 35.6%. Rise in number of government initiatives and increase in investments by various private companies to improve clinical outcomes, achieve better information exchange, and cost drive the growth of Artificial intelligence in healthcare market.

𝐅𝐨𝐫 𝐏𝐫𝐨𝐜𝐮𝐫𝐞𝐦𝐞𝐧𝐭 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧-
https://www.alliedmarketresearch.com/purchase-enquiry/2421

The growth of the Artificial intelligence in healthcare market is majorly driven by increase in volume of healthcare data and rise in complexities of datasets driving the necessity for AI in healthcare in the market. In addition, an increase in the significance of big data in healthcare is expected to fuel the market growth. However, unclear regulatory scenarios and reluctance among healthcare professionals to adopt AI-based technologies are expected to impede the market growth. On the contrary, the potential of AI-based tools for elderly care and the untapped potential of emerging markets, such as China and India, are expected to present various opportunities for market expansion.

Though the use of AI in healthcare is not a new notion, its application in the COVID-19 outbreak situation has proven its prospects in the sector. The AI tools are rapidly being used to detect & diagnose the virus and retort to the outbreak through personalized information and learning.

Some of the key players operating in the global AI in healthcare market include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., Next IT Corporation, and iCarbonX.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By offering, the software segment was the highest contributor to the market in 2020.
By application, the robot-assisted surgery segment was the highest contributor to the market in 2020.
By end user, the healthcare providers segment is projected to grow at a significant CAGR of 37.2% from 2021 to 2030.
By region, North America garnered largest revenue share of 35.6%.in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 44.5% during the review period.

𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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David Correa
Allied Market Research
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