The growing potential of AI-based tools for elderly care presents opportunities

Company logo

Company logo

Dublin, October 11, 2022 (The Globe Newswire) – The “Global Artificial Intelligence in Healthcare Market: Analysis by Component, by Algorithm, by Application, by End User, by Region, Size and Forecasting with COVID-19 Impact Analysis and Forecast to 2027” Report added to ResearchAndMarkets.com Show.

Artificial intelligence (AI) is being used to propagate effective and precise inventions that will help care for individuals suffering from chronic diseases, such as cancer, and hopefully find a cure for them. AI algorithms improve system accuracy by allowing them to analyze training data, allowing people to gain unprecedented insights into treatment variability, care processes, diagnosis, and patient outcomes. In 2021, the global AI in the healthcare market was valued at $6.71 billion, and it is likely to reach $41.70 billion by 2027.

The increasing demand for faster clinical trials due to the high number of patent expirations, increased demand for increased adoption of surgical robots, increased funding for medical robotics research, and increased adoption of virtual assistants due to the increased penetration of smartphones, would affect the demand for artificial intelligence in the market. health care in the coming years. Artificial intelligence in the healthcare market is expected to grow at a CAGR of 37.48%, during the forecast period 2022-2027.

Market Segmentation Analysis:

  • By Component: The report divides the global artificial intelligence into the healthcare market into three components: software, hardware solutions, and services. The software solutions segment captured nearly half of the market share in 2021. The significant imbalance between patients and medical staff, the ability to improve patient care, and the potential to reduce medical costs are key factors that have encouraged the adoption of AI software solutions in healthcare, in historical years.

  • By Algorithm: According to the report, the global artificial intelligence in the healthcare market is separated into four algorithms: natural language processing, query method, context-aware processing, and deep learning. The natural language processing segment captured the main 46% market share in 2021, due to the increase in the use of signal reduction, data mining and image recognition, which are an integral part of most AI protocols.

  • By Application: According to the report, the global artificial intelligence in the healthcare market is segmented into ten applications: clinical pathways, robot-assisted surgery, connected machines, fraud detection, virtual assistants, administrative workflow assistants, diagnostics, dosing error reduction, cybersecurity and others. . The clinical trial segment captured a share of approximately 23% in 2021, due to the increasing number of patent expirations, and the growing demand for faster and accurate clinical trials to meet the need for new drug discoveries.

  • By End Users: The report divides the global artificial intelligence in the healthcare market into five end users: hospital and healthcare service providers, pharmaceutical and biotechnology companies, patients, healthcare payers and others. In 2021, Hospitals & Healthcare Providers segment captured nearly 28% of the market, due to the increasing trend of telehealth in light of COVID-19 pandemic and restrictions as a result of social distancing standards etc.

  • By Region: According to this report, the global Artificial Intelligence in the healthcare market can be segmented into four main regions: Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), North America (US, Canada, and Mexico), and Europe (Germany, UK, France, and Italy) Spain and the rest of Europe) and the rest of the world. North American AI in the healthcare market will have a market share of about 40% in 2021, mainly due to the rise in the number of AI startups in the healthcare sector, and the adoption of machine learning in the medical sector which has led to the growth of AI in the healthcare market health in countries such as the United States and Canada.

  • While the United States remains a prominent North American region for AI in the healthcare market, which represents a growing adoption of AI technology across the continuum of care, higher healthcare spending combined with the emergence of the COVID-19 pandemic is accelerating AI adoption. In hospital and clinics across the region.

market dynamics

growth engines

  • The increasing use of robots in surgical procedures and rehabilitation

  • Increasing the volume of healthcare data

  • Growing potential of AI-based tools for elderly care

  • Increase investment in AI deals in healthcare

  • Rapid adoption of wearables

  • The escalating penetration of online pharmacy

Challenges

Market trends

  • Skilled labor shortage

  • Shift towards home health care

  • Rising demand for personalized medicine

  • A growing number of partnerships and collaborations across industries

Main topics covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Impact of COVID-19

6. Market dynamics

7. Competitive landscape

8. Company Profiles

mentioned companies

  • IBM Corporation

  • Alphabet Inc. (Google)

  • Johnson & Johnson Ltd.

  • Amazon.Com, Inc. (Amazon Web Services, Inc.)

  • Microsoft Corp. (Microsoft Azure)

  • Intel Corporation

  • Koninklijke Philips NV

  • nvidia company

  • Siemens Healthineers AG

  • General Electric Company

  • Babel Holdings Ltd.

  • NetBase Quid

  • Onkura Medical

  • Cloudmedx Health Inc.

  • iCarbonX

For more information about this report visit https://www.researchandmarkets.com/r/9kbi3v

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

Leave a Comment