Global Artificial Intelligence in Healthcare Market by Component (Software Solutions, Hardware, and Services), by Application (Virtual Assistants and Connected Machines), and by Region (Size, Share, Outlook, and Opportunity Analysis, 2022–2027)
The global artificial intelligence in healthcare market
The global artificial intelligence market in healthcare was valued at USD 14.9 billion in 2021 and is expected to reach USD 51.3 billion by 2027, at a CAGR of 36.7% from 2022–2027.
In the healthcare industry, artificial intelligence is used to investigate the relationship between therapeutic approaches and patient results. AI in healthcare has numerous uses in drug discovery, treatment planning, and medication administration. It is employed in medical procedures like diagnosis, personalised medication, drug research, and patient care monitoring.
Market Drivers
Key market players concentrated on product innovation and technological partnerships to expand their product portfolios and satisfy the escalating demand during the pandemic as a result of the increasing adoption of AI technologies in healthcare applications. As an illustration, the MIT-IBM Watson AI Lab promoted the use of AI technologies in research projects investigating the health and financial effects of the pandemic in May 2020.
Some of the key factors propelling the market's expansion include the expanding datasets of digital patient health information, rising demand for personalised medication, and rising demand for lowering healthcare costs, which are anticipated to drive the market's growth.
Market Restraints
The global adoption of artificial intelligence in the healthcare industry is anticipated to hinder market growth due to the risk of injury and misinterpretation and the limited acceptance of AI by healthcare professionals.
Market Segmentation
The global artificial intelligence in healthcare market is segmented into components such as software solutions, hardware, and services. Furthermore, the market is segmented by application, such as virtual assistants and connected machines.
Regional Analysis
The global artificial intelligence in healthcare market is segmented into five regions, such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
North America, among regions, is expected to exhibit the highest CAGR in the global artificial intelligence in healthcare market, due to improvements in healthcare IT infrastructure, rising healthcare costs, widespread use of AI and ML technologies, supportive government initiatives, lucrative funding opportunities, and the existence of several important market players. Additionally, the market in North America is expanding as a result of factors such as an ageing population, changing lifestyles, an increase in the prevalence of chronic diseases, a rise in the demand for value-based care, and increased awareness of the use of AI-based technologies.
Key Players
Various key players are listed in the global artificial intelligence in healthcare market, including Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., Next IT Corporation, and iCarbonX.
Market Taxonomy
By Component
•        Software Solutions
•        Hardware
•        Services
By Application
•        Virtual Assistants
•        Connected Machines
By Region
•        North America
•        Latin America
•        Europe
•        Asia Pacific
•        Middle East and Africa
 

Global Artificial Intelligence in Healthcare Market  
1 Introduction 
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Artificial Intelligence in Healthcare Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn 
4.2.6 Post covid-19 world Supply & Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Artificial Intelligence in Healthcare Market, By Component 
5.1 Y-o-Y Growth Comparison, By Component 
5.2 Global Artificial Intelligence in Healthcare Market Share Analysis, By Component  
5.3 Global Artificial Intelligence in Healthcare Market Size and Forecast, By Component 
5.3.1. Software Solutions
5.3.2. Hardware 
5.3.3. Services
6 Global Artificial Intelligence in Healthcare Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Artificial Intelligence in Healthcare Market Share Analysis, By Application
6.3 Global Artificial Intelligence in Healthcare Market Size and Forecast, By Application
6.3.1 Virtual Assistants 
6.3.2. Connected Machines
7 Global Artificial Intelligence in Healthcare Market, By Region
7.1 Global Artificial Intelligence in Healthcare Market Share Analysis, By Region
7.2 Global Artificial Intelligence in Healthcare Market Share Analysis, By Region
7.3 Global Artificial Intelligence in Healthcare Market Size and Forecast, By Region
8 North America Artificial Intelligence in Healthcare Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 North America Artificial Intelligence in Healthcare Market Share Analysis, By Component 
8.3 North America Artificial Intelligence in Healthcare Market Size and Forecast, By Application
8.5 North America Artificial Intelligence in Healthcare Market Size and Forecast, By Country
8.5.1 U.S.
8.5.2 Canada
8.5.3 Mexico
9 Europe Artificial Intelligence in Healthcare Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Artificial Intelligence in Healthcare Market Share Analysis, By Component 
9.3 Europe Artificial Intelligence in Healthcare Market Size and Forecast, By Application
9.5 Europe Artificial Intelligence in Healthcare Market Size and Forecast, By Country
9.5.1 Germany
9.5.2 France
9.5.3 UK
9.54. Rest of Europe
10 Asia Pacific Artificial Intelligence in Healthcare Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Asia Pacific Artificial Intelligence in Healthcare Market Share Analysis, By Component  
10.3 Asia Pacific Artificial Intelligence in Healthcare Market Size and Forecast, By Application
10.5 Asia Pacific Artificial Intelligence in Healthcare Market Size and Forecast, By Country
10.5.1 China 
10.5.2 Japan
10.5.3 India
10.5.4. Rest of Asia Pacific
11 Latin America Artificial Intelligence in Healthcare Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Latin America Artificial Intelligence in Healthcare Market Share Analysis, By Component 
11.3 Latin America Artificial Intelligence in Healthcare Market Size and Forecast, By Application
11.5 Latin America Artificial Intelligence in Healthcare Market Size and Forecast, Country
11.5.1. Brazil
11.5.2. Rest of Latin America
12 Middle East Artificial Intelligence in Healthcare Market Analysis and Forecast (2022-2027)
12.1 Introduction
 12.2 Middle East Artificial Intelligence in Healthcare Market Share Analysis, By Component 
12.3 Middle East Artificial Intelligence in Healthcare Market Size and Forecast, By Application
12.5 Middle East Artificial Intelligence in Healthcare Market Size and Forecast, By Country
12.65.1. Saudi Arabia
12.5.2. UAE
12.5.3. Egypt
15.5.4. Kuwait
12.5.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Welltok, Inc.
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Intel Corporation
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. Nvidia Corporation
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Google Inc.
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 IBM Corporation
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Microsoft Corporation
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 General Vision, Inc.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies 
14.8 Enlitic, Inc.
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Next IT Corporation
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 iCarbonX
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies