Artificial Intelligence in Healthcare Market Report 2021, Industry Analysis, Share, Size and Forecast Till 2026

According to IMARC Group’s latest report, titled “Artificial Intelligence in Healthcare Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global artificial intelligence in healthcare market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of 42.3% during 2021-2026.

Artificial intelligence (AI) in the healthcare industry helps in diagnosing diseases, performing surgical procedures and recommending treatments. Other than this, it also aids in improving the quality of care, enhancing patient engagement, reducing the overall cost of developing novel pharmaceutical treatments and personalizing medical treatments.

Report Metric

Historical: 2015-2020

Base Year: 2020

Forecast Year: 2021-2026

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Market Trends and Drivers:

Owing to the thriving healthcare sector and increasing complexity of data in medical centers, there is a significant rise in the demand for artificial intelligence (AI), which assists health professionals in effective decision-making. Furthermore, the widespread utilization of natural language processing (NLP), which is a field of AI that deals with the interaction between humans and computers through natural language, in the healthcare sector, is acting as another major growth-inducing factor. NLP is instrumental in understanding and classifying clinical documentation and published research and analyzing unstructured clinical notes on patients. Other factors, such as extensive research and development (R&D) and the increasing utilization of robots to perform gynecologic, prostate, and head and neck surgeries, in confluence with favorable healthcare policies by governments of several nations, are anticipated to propel the market growth in the upcoming years.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

The report has segmented the market on the basis of offering, technology, application, end user and geography.

By Offering:

  • Hardware
  • Software
  • Services

By Technology:

  • Machine Learning
  • Context-Aware Computing
  • Natural Language Processing
  • Others

By Application:

  • Robot-Assisted Surgery
  • Virtual Nursing Assistant
  • Administrative Workflow Assistance
  • Fraud Detection
  • Dosage Error Reduction
  • Clinical Trial Participant Identifier
  • Preliminary Diagnosis
  • Others

By End-User:

  • Healthcare Providers
  • Pharmaceutical and Biotechnology Companies
  • Patients
  • Others

 By Geography:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Who are the Major Signature Verification Key players?

  •  Amazon Web Services Inc.
  • Cloudmedx Inc.
  • DeepMind, Enlitic Inc.
  • General Vision Inc.
  • Google Inc.
  • International Business Machines
  • iCarbonX, Intel Corporation,
  • Medtronic
  • Micron Technology Inc.
  • Microsoft Corporation
  • Next It Corporation
  • Nuance Communications Inc.
  • Nvidia Corporation
  • Siemens Healthcare
  • Welltok Inc.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. 

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