AI in Healthcare Market Is Projected to Develop at The Rapid Pace | Experts Predict Growth of $194.14 Billion
Tejal Bele
Digital Marketing (Web Marketing) Healthcare | Life science | Pharmaceutical | Investor
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 $8.23 billion in 2020, and is estimated to reach $194.14 billion by 2030, growing at a CAGR of 38.1% from 2021 to 2030.
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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.
Machine learning and deep learning technologies have developed quickly as a result of the recent increase in processing capability of AI systems. The advancement of AI algorithms is also anticipated to decrease processing times, improving the use of algorithms in the healthcare industry. For instance, in June 2020, GE Healthcare launched Thoracic Care Suite to detect chest X-Ray abnormalities, such as pneumonia and tuberculosis, caused by COVID-19 as well as support clinicians and health systems to ensure quick diagnosis and effective treatment of patients.
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.
Machine learning and deep learning technologies have developed quickly as a result of the recent increase in processing capability of AI systems. The advancement of AI algorithms is also anticipated to decrease processing times, improving the use of algorithms in the healthcare industry. For instance, in June 2020, GE Healthcare launched Thoracic Care Suite to detect chest X-Ray abnormalities, such as pneumonia and tuberculosis, caused by COVID-19 as well as support clinicians and health systems to ensure quick diagnosis and effective treatment of patients.
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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.
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???????? ?????????????? ?????? ???????????????? ????????????????:The vast amounts of sensitive patient data involved in healthcare AI applications raise concerns about data privacy and security. Ensuring compliance with regulations and safeguarding patient information are critical challenges for stakeholders in the industry.
?????????????????????? ???????? ???????????????? ??????????????:Incorporating AI technologies into existing healthcare systems can be challenging. Ensuring seamless integration with electronic health records (EHRs) and other healthcare IT infrastructure is crucial for the successful adoption of AI solutions.
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???????????????????? ?????? ?????????????? ????????:The COVID-19 pandemic has accelerated the adoption of telehealth, and AI plays a pivotal role in enhancing virtual care experiences. AI-driven virtual assistants, remote patient monitoring, and telemedicine platforms contribute to more accessible and efficient healthcare delivery.
????-???????????? ???????????????????????? ????????????????:The move towards personalized medicine, tailored to individual patient characteristics, is a significant growth opportunity. AI algorithms analyze genetic, clinical, and lifestyle data to create personalized treatment plans, improving the efficacy of interventions and minimizing adverse effects.
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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.
Key Findings Of The Study
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Nvidia Corporation
Microsoft Corporation
Next IT Corp.
IBM Corporation
Welltok Inc.
Google Inc.