Healthcare Artificial Intelligence (AI) Market Worth $51.3 billion by 2027
According to a new market research report "Healthcare Artificial Intelligence Market by Product & Services (Software, Services), Technology (Machine Learning, NLP), Application (Medical Imaging, Precision Medicine, Patient Management), End User (Hospitals, Patients) -Global Forecast to 2027 ", published by Meticulous Research®, the healthcare artificial intelligence market is expected to grow at a CAGR of 41.4% from 2020 to reach $51.3 billion by 2027.
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In recent years, AI is predominantly used in clinical research, robotic personal assistants, and big data analytics. Classic venture capitalists and corporate strategic investors are both investing generously in this space. The difference today is that new technologies are making such efforts much easier. Use of the cloud and the rapid digitalization of information has improved access to data and the speed of computation. Thus, due to the advantages offered by AI in healthcare, there is a rising funding for artificial intelligence and participation of larger companies in the acquisition of small companies, startups, and single technology firms. Venture capitalist (VC) investors have seen the concept of AI become mainstream and are investing accordingly.
Impact of COVID-19 on the Healthcare AI Market
The COVID-19 pandemic has put tremendous burden on the healthcare sector all over the world. Currently, hospitals are juggling due to limited resources and staff, which has hampered some surgeries and other medical procedures. According to the World Health Organization (WHO), as of April 2020, the COVID-19 pandemic has hit over 22,000 healthcare workers across 52 countries. Also, in severely affected regions, the influx of COVID-19 patients requiring continuous monitoring and ventilation is increasing rapidly, leading to an overloading of hospital systems and disrupting the routine treatment of chronic illness in patients, whose conditions are likely to get worsened if usual standard care is delayed.
To manage the patients affected by pandemic and other chronic illness, AI adoption is seeing high growth across the globe. For instance, owing to the rising coronavirus cases globally, the U.S. FDA has approved ICU-specific platform developed by CLEW Medical (Israel). The product was designed to offer COVID care teams with advance warning on patients at high risk of serious symptoms. It can also help the hospitals to increase the time available for intervening early and planning ahead. Similarly, various AI based products employing data capturing ability and facilitating online consultation have seen large number of users in this pandemic. Therefore, AI is witnessing a high growth in adoption at present and is expected to see upward trajectory in the future as well.
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Quick Buy – Healthcare Artificial Intelligence Market Research Report:
https://www.meticulousresearch.com/buy_now.php?pformat=139&vformat=422
Geographically, the global healthcare artificial intelligence market is estimated to be dominated by North America in 2020. Well established IT infrastructure in healthcare, presence of innovative software vendors and venture capitalists, rising adoption of EHR, flourishing biopharmaceutical industry, rise in funding for new product development, and increasing number of startups for healthcare artificial intelligence in the region supported the largest share of North America in the healthcare artificial intelligence market. However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific healthcare artificial intelligence market are growing need for coordination between healthcare workforce & patients, rise in adoption of precision medicine, growing prevalence of diseases, and remarkable growth in venture capital investments. In addition to this, the factors such as significant use of big data in the healthcare sector, growing technological innovation, and demand from China are also supporting the growth of the healthcare AI market in the APAC region.
Download Free Sample Report Now @
https://www.meticulousresearch.com/download-sample-report/cp_id=4937Healthcare Artificial Intelligence (AI) Market Worth $51.3 billion by 2027
According to a new market research report "Healthcare Artificial Intelligence Market by Product & Services (Software, Services), Technology (Machine Learning, NLP), Application (Medical Imaging, Precision Medicine, Patient Management), End User (Hospitals, Patients) -Global Forecast to 2027 ", published by Meticulous Research®, the healthcare artificial intelligence market is expected to grow at a CAGR of 41.4% from 2020 to reach $51.3 billion by 2027.
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4937
In recent years, AI is predominantly used in clinical research, robotic personal assistants, and big data analytics. Classic venture capitalists and corporate strategic investors are both investing generously in this space. The difference today is that new technologies are making such efforts much easier. Use of the cloud and the rapid digitalization of information has improved access to data and the speed of computation. Thus, due to the advantages offered by AI in healthcare, there is a rising funding for artificial intelligence and participation of larger companies in the acquisition of small companies, startups, and single technology firms. Venture capitalist (VC) investors have seen the concept of AI become mainstream and are investing accordingly.
Impact of COVID-19 on the Healthcare AI Market
The COVID-19 pandemic has put tremendous burden on the healthcare sector all over the world. Currently, hospitals are juggling due to limited resources and staff, which has hampered some surgeries and other medical procedures. According to the World Health Organization (WHO), as of April 2020, the COVID-19 pandemic has hit over 22,000 healthcare workers across 52 countries. Also, in severely affected regions, the influx of COVID-19 patients requiring continuous monitoring and ventilation is increasing rapidly, leading to an overloading of hospital systems and disrupting the routine treatment of chronic illness in patients, whose conditions are likely to get worsened if usual standard care is delayed.
To manage the patients affected by pandemic and other chronic illness, AI adoption is seeing high growth across the globe. For instance, owing to the rising coronavirus cases globally, the U.S. FDA has approved ICU-specific platform developed by CLEW Medical (Israel). The product was designed to offer COVID care teams with advance warning on patients at high risk of serious symptoms. It can also help the hospitals to increase the time available for intervening early and planning ahead. Similarly, various AI based products employing data capturing ability and facilitating online consultation have seen large number of users in this pandemic. Therefore, AI is witnessing a high growth in adoption at present and is expected to see upward trajectory in the future as well.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=4937
Quick Buy – Healthcare Artificial Intelligence Market Research Report: https://www.meticulousresearch.com/buy_now.php?pformat=139&vformat=422
Geographically, the global healthcare artificial intelligence market is estimated to be dominated by North America in 2020. Well established IT infrastructure in healthcare, presence of innovative software vendors and venture capitalists, rising adoption of EHR, flourishing biopharmaceutical industry, rise in funding for new product development, and increasing number of startups for healthcare artificial intelligence in the region supported the largest share of North America in the healthcare artificial intelligence market. However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific healthcare artificial intelligence market are growing need for coordination between healthcare workforce & patients, rise in adoption of precision medicine, growing prevalence of diseases, and remarkable growth in venture capital investments. In addition to this, the factors such as significant use of big data in the healthcare sector, growing technological innovation, and demand from China are also supporting the growth of the healthcare AI market in the APAC region.
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4937
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