According to Stratistics MRC, the Global Artificial Intelligence (AI) in Healthcare Market is accounted for $4.83 billion in 2020 and is expected to reach $84.02 billion by 2028 growing at a CAGR of 42.9% during the forecast period. Rising need to reduce healthcare costs and improving computing power and declining hardware cost is driving the market growth. However, lack of skilled AI workforce and indefinite regulatory guidelines for medical software is hampering the growth of the market.
Some of the key players profiled in the Artificial Intelligence (AI) in Healthcare Market include Nvidia, Intel, IBM, Google, Microsoft, General Electric (Ge) Company, Siemens Healthineers (A Strategic Unit Of Siemens Group), Medtronic, Micron Technology and Amazon Web Services (Aws).
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The Global Artificial Intelligence (AI) in Healthcare Market is majorly driven by growing need to reduce healthcare costs, rise in the prevalence of chronic diseases in an aging population, and increasing demand for personalized medicine. The software segment is growing at a highest CAGR owing to the seed investments, developed software solutions for various healthcare applications, and partnerships for novel product expansion. North America dominated with a significant market share due to rising incidence of health-related disorders, increasing licensing and partnerships, rise in demand for digital health systems, and growing adoption of IT solutions. Asia Pacific market is growing at a highest CAGR owing to the improving infrastructure for healthcare IT, development and innovations in entrepreneurship startups, rising number of AI start-ups, and steadily rising adoption of advanced technologies within this particular region.
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The research looks into the industry’s competitiveness, limits, sales projections, opportunities, existing and upcoming trends, and confirmed market data. The research provides and regional market estimates as well as an examination of the economy. The research also focuses on the AI in Healthcare driving forces and limitations, as well as their influence on supply and demand. The research also looks at the and regional potentials of the AI in Healthcare. By dividing the market by product type, end-user, application, and geography, the research offers a critical picture of the AI in Healthcare industry. The AI in Healthcare market has been categorized and evaluated, with predictions for the projected period, based on current and potential developments. The study examines company market share to have a better understanding of the main companies in the AI in Healthcare business. A variety of variables influence AI in Healthcare consumer demand. Restriction, on the other hand, may impede market expansion.
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