North America Artificial Intelligence (AI) in Healthcare Market Opportunities by 2027
Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027North America Artificial Intelligence (AI) in Healthcare Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Software Solution, Hardware, and Services), Application (Robot Assisted Surgery, Virtual Assistants, Administrative Workflow Assistants, Connected Machines, Diagnosis, Clinical Trials, Fraud Detection, Cybersecurity, Dosage Error Reduction, and Others), and End User (Hospitals & Healthcare Providers, Patients, Pharma & Biotech Companies, Healthcare Payers, and Others)
- Report Date : Mar 2021
- Report Code : TIPRE00020534
- Category : Technology, Media and Telecommunications
- Status : Published
- Available Report Formats :
- No. of Pages : 194
The artificial intelligence in healthcare market in North America is expected to grow from US$ 1,605.67 million in 2019 to US$ 44,056.97 million by 2027; it is estimated to grow at a CAGR of 50.1% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Growing usage of artificial intelligence in healthcare industry is the major factor driving the North America artificial intelligence in healthcare market. Artificial intelligence (AI) in healthcare sector is intended to considerably change clinicians' roles and everyday practices by accomplishing and analyzing data, make decisions, and conduct discussions. AI application in healthcare is getting progressively sophisticated, efficient, quicker, and at a lower cost.
Owing to the tremendous potential of AI and robotics in healthcare sector, they are gradually becoming a major part of the healthcare ecosystem. According to a CB Insights Report in 2020, ~86% of the healthcare providers, life science companies, and technology vendors depend on artificial intelligence technologies.
The complexities related to interpreting images and conducting analysis result in the adoption of AI-based applications. With deep learning programs and expertise categorization, AI-based imaging systems are equipped with quick image reading algorithms, which further includes MRIs and CT scans. The system helps doctors and healthcare professionals to improve performance with better diagnostics and proves to be a vital tool in combating the shortage of radiologists in the hospital. Additionally, AI upsurges healthcare professionals' capability to understand better the day-to-day patterns and needs of the people they care for. With that understanding, they can provide better responses, guidance, and support for staying healthy.
TheCOVID-19 is having a very devastating impact over the North America region.AI is an indispensable tool to promote public health experts to keep people safe and notified of the coronavirus pandemic. Artificial intelligence (AI) is converting as a robust tool for tracking and handling COVID-19 in the U.S. and across. Numerous U.S. institutions are designing the latest AI technology or using established technology to diagnose, monitor, and treat the novel coronavirus. For instance, HealthMap, an AI application developed by Boston Children’s Hospital. It was one of the first tracking tools to diagnose the COVID-19 outbreak. This original discovery helps doctors quickly triage patients to the suitable level of care even before a COVID-19 diagnosis is validated.Similarly, Facebook AI is entered into a partnership with academic researchers and other specialists on various initiatives associated with COVID-19. Moreover, in October 2020, Facebook AI launched their COVID-19 Community Help hub as a source to request people to help the patients. Also, they have added an innovative AI-powered matching feature for quick and easy connection of people and offering the required type of assistance.AI has enormous potential for analyzing large quantities of data rapidly, a feature that can significantly impact a situation such as a pandemic.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America artificial intelligence in healthcare market. The North America artificial intelligence in healthcare market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
North America Artificial Intelligence in Healthcare Market Segmentation
North America Artificial Intelligence in Healthcare Market – By Component
- Software Solution
- Hardware
- Services
North America Artificial Intelligence in Healthcare Market – By Application
- Robot Assisted Surgery
- Virtual Assistants
- Administrative Workflow Assistants
- Connected Machines
- Diagnosis
- Clinical Trials
- Fraud Detection
- Cybersecurity
- Dosage Error Reduction
- Others
North America Artificial Intelligence in Healthcare Market – By End User
- Hospitals & Healthcare Providers
- Patients
- Pharma & Biotech Companies
- Healthcare Payers
- Others
North America Artificial Intelligence in Healthcare Market, by Country
- US
- Canada
- Mexico
North America Artificial Intelligence in Healthcare Market - Companies Mentioned
- Alphabet Inc.
- Arterys Inc.
- General Electric Company
- Intel Corporation
- Johnson and Johnson Services, Inc.
- Koninklijke Philips N.V.
- Microsoft Corporation
- Nuance Communications, Inc.
- NVIDIA CORPORATION
- Siemens Healthineers AG
North America Artificial Intelligence (AI) in Healthcare Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,605.67 Million |
| Market Size by 2027 | US$ 44,056.97 Million |
| Global CAGR (2020 - 2027) | 50.1% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
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- Alphabet Inc.
- Arterys Inc.
- General Electric Company
- Intel Corporation
- Johnson and Johnson Services, Inc.
- Koninklijke Philips N.V.
- Microsoft Corporation
- Nuance Communications, Inc.
- NVIDIA CORPORATION
- Siemens Healthineers AG
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