The Global Artificial Intelligence (AI) In Healthcare Market is projected to reach $84.02 billion by 2028, from a value of $9.86 billion in 2022, by registering a CAGR of 42.9% during the forecast period. The rising volume of healthcare data, rise in complexities of datasets, growing datasets of patient health-related digital information, increasing demand for personalized medicine, and the rising demand for reducing care expenses are the major factors propelling the growth of the market. However, limited acceptance from healthcare professionals and, concerns regarding data privacy are hampering the market growth. Moreover, the growing potential of AI-based tools for elderly care is creating ample opportunities across the globe.
Recent Developments
In August 2021, Philips launched two HealthSuite solutions that facilitates in the integration of the informatics with the health systems, which can be scaled as per the requirements. New HealthSuite AI capabilities include cloud-based managed AI workflow and DICOM interoperability in a secure environment.
In April 2021, IBM launched its advanced storage systems that facilitated in the simplification of access to data and its availability for artificial intelligence and cloud application. The solution will be designed to fuse IBM’s general parallel file system technology and its data protection software to give businesses and their applications a simple and less complex approach to accessing data seamlessly within the data center, at the edge and across hybrid cloud environments.
In September 2019, GE Healthcare launched the Edison Developer Program to accelerate the adoption and impact of intelligent applications and developer services across health systems. The program is based on Edison, GE Healthcares secure intelligence platform, and helps healthcare providers gain easier access to market-ready algorithms and applications by directly integrating these technologies into existing workflows.
Competitive Landscape
Welltok, Inc., Siemens Healthineers (A Strategic Unit Of Siemens Group), Nvidia Corporation, Next IT Corporation, Microsoft Corporation, Micron Technology, Medtronic, Intel Corporation, iCarbonX
IBM Corporation, Google Inc., General Vision, Inc., General Electric (Ge) Company, Enlitic, Inc., Amazon Web Services (AWS), Philips are some of the major players in the Global Artificial Intelligence (AI) In Healthcare Market.
