Artificial Intelligence in Healthcare Industry worth $102.7 Billion by 2028

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MarketsandMarkets Presents
Artificial Intelligence in Healthcare Market by
Offering (Hardware, Software, Services),
Technology (Machine Learning, NLP, Context-aware
Computing, Computer Vision), Application, End
User and Region - Global Forecast to 2028The AI
in Healthcare Market is projected to grow from
USD 14.6 Billion in 2023 to USD 102.7 Billion by
2028 it is expected to grow at a CAGR of 47.6
during the forecast period. The markets growth is
attributed to the increasing generation of large
and complex healthcare datasets, growing
computing power, declining hardware costs, and
rising need to reduce healthcare costs. The
growing potential of AI technology in genomics,
drug discovery, and imaging diagnostics is
expected to create growth opportunities for the
market.
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MarketsandMarkets Presents
Software to account for a larger share of AI in
Healthcare market in 2023 Software is expected
to hold the majority of the share during the
forecast period. Increasing developments in AI
software and related software development kits
will further propel the market growth in the
coming years. The software integrated into
computer systems carries out complex operations.
It synthesizes the data received from hardware
systems and processes it in an AI system to
generate an intelligent response. The software is
developed using AI technologies, such as machine
learning, natural language processing, and deep
learning.
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MarketsandMarkets Presents
Machine Learning to hold for the majority of the
share in AI in Healthcare market in 2023 Machine
Learning is expected to account for the largest
market share throughout the forecast period.
Download PDF Brochure _at_ https//www.marketsandma
rkets.com/pdfdownloadNew.asp?id54679303 This is
attributed to the enormous availability of data,
also called big data, and the increasing adoption
of ML by hospitals, research centers,
pharmaceutical companies, and other healthcare
institutions to improve patient health. ML is
being implemented in healthcare to deal with
large volumes of data. The time previously
dedicated to creating charts and spreadsheets is
now being used to seek intelligent ways to
automate data analysis. It is used to streamline
hospital administrative processes, map and treat
infectious diseases, and personalize medical
treatments.
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MarketsandMarkets Presents
Medical Imaging Diagnostics segment to grow at
highest CAGR in AI in Healthcare market In
healthcare, medical imaging generates a large
volume of data, and this data is also the most
challenging of all in terms of understanding and
interpretation. Healthcare AI startups are
raising venture capital and have been working in
the field of imaging and diagnostics (especially
pathology) and extracting insights using machine
learning. Zebra Medical Vision, for instance,
provides radiologists with AI-enabled assistants
that receive imaging scans and automatically
analyze them for various clinical findings they
have studied. The results are passed onto
radiologists, who consider the assistants
reports when diagnosing.
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MarketsandMarkets Presents
Market in Asia Pacific to hold significant
opportunities for the market during forecast
period China, Japan, South Korea, and India are
among the major countries driving the AI in
Healthcare market in Asia Pacific. In 2022, China
held the largest share of the AI in Healthcare
market among all countries in Asia Pacific. It is
the highest spender on healthcare among the
countries in Asia Pacific and is planning to
digitize medical records. The healthcare sector
in China is rapidly growing, resulting in the
introduction of new medical technologies. All
these factors, coupled with burgeoning population
growth in the country, are expected to increase
the healthcare data volume in their respective
healthcare systems. This represents a significant
untapped opportunity for AI companies operating
in the hospitals and healthcare providers segment.
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MarketsandMarkets Presents
Major vendors in the AI in Healthcare market
include Intel Corporation (US), Koninklijke
Philips N.V., (Netherlands), Microsoft (US),
Siemens Healthineers (Germany), and NVIDIA
Corporation (US) among others. Know more
Information _at_ https//www.marketsandmarkets.com/Ma
rket-Reports/artificial-intelligence-healthcare-ma
rket-54679303.html
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