Artificial Intelligence in Healthcare Market Size Shares Demand Growth Trends and Competitive Analysis 2022-2029 | DataM Intelligence

“Artificial intelligence in the healthcare market – DataM Intelligence”

Artificial Intelligence in Healthcare Market is expected to grow at a CAGR of 49.7% during the forecast period (2022-2029).

Market Overview:

Artificial Intelligence (AI), the period largely refers to computer technologies that resemble processes related to human expertise. It is an integration of many strategies that include natural language processing, device learning, and reasoning. AI is used for several healthcare and research purposes, including disease detection, management of chronic conditions, transportation of fitness offerings, and drug discovery.

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Market dynamics

Information Privacy Concerns Will Restrain Market Growth

AI has many useful applications in healthcare. However, the adoption of AI within the industry is limited due to information privacy concerns. Patient health records are covered by the federal laws of several countries, and any violation or breach of their integrity may result in legal and economic penalties.

Since AI used for care of affected individuals requires access to multiple sets of health data, AI-based equipment must adhere to all information security protocols implemented by governments and regulatory authorities. This is a difficult undertaking as most AI structures are consolidated and require great computational energy due to which information about the people involved, or parts thereof, may be needed to live. in a seller’s information center.

Dealer stats facilities are not comfortable enough to avoid record breaches, as stats are available to a range of employees and containing breaches will become much more difficult. If patient records are leaked from these fact centers, even inadvertently, it can result in massive lawsuits and demands for settlements by aggrieved parties. This is a market-leading mission.

Market segmentation :

By product type

  • Material
  • Software
  • Services

By technology

  • Speech recognition
  • natural language processing
  • machine learning
  • disaster recovery

By app

  • Imaging and diagnostics
  • drug discovery
  • Precision medicine
  • Hospital management

Per end user

  • Hospitals
  • pharmaceutical company
  • Diagnostic centers
  • Others

Competitive landscape

Artificial intelligence in healthcare market is a moderately competitive presence of local and global companies. Some of the major players contributing to the growth of the market include Intel, Koninklijke Philips, Microsoft, IBM, Siemens Healthineers, Nvidia, Google, General Electric Company, Medtronic, Micron Technology, among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of artificial intelligence in the global healthcare market. For example, in November 2021, Philips extended the artificial intelligence (AI) enabled CT imaging portfolio to the Radiological Society of North America (RSNA) 2021.

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