Europe Artificial Intelligence (AI) in Healthcare Market
No. of Pages: 205 | Report Code: TIPRE00020540 | Category: Technology, Media and Telecommunications
No. of Pages: 205 | Report Code: TIPRE00020540 | Category: Technology, Media and Telecommunications
Europe region includes France, Germany, Italy, Spain, United Kingdom, and rest of Europe. The region is expected to witness a steady growth rate of 49.3% from 2019 to 2027. The European AI in healthcare market is expected to witness significant growth during the forecast period, due to factors such as, prevalence of chronic diseases in the countries, advanced healthcare infrastructure and growing government initiatives for the implementation of AI in healthcare. The UK is recognized for having advanced healthcare infrastructure. The NHS has been adopting various changes to enhance its services and offer patient control over their healthcare. In 2019, the UK Government established NHSX as a new body which is responsible for setting regulatory policies and best practice around the use of digital technologies in healthcare in England. In October 2019, NHSX created the NHS AI Lab, to bring together government, health and care providers, academics and technology companies to address healthcare challenges. NHSX recently launched an ‘AI in Health and Care Survey 2021’ the results of the survey will be used to better understand opportunities and risks of AI in the UK healthcare sector. The growing adoption of digital health technology in this region is likely to enhance the growth of the market during the forecast period. Also, growing number of AI startups in the region is likely to fuel the growth of the market during the forecast period.
Europe is the worst-hit region after China. As the coronavirus cases increase in the area, many countries are fighting to control the disease's spread. Artificial intelligence (AI) and machine learning represent a crucial part in better knowing and discussing the COVID-19 crisis. Machine learning technology permits computers to mimic human intelligence and ingest large volumes of data to identify patterns and insights quickly. In the fight toward COVID-19, associations have been instantaneous to utilize their machine learning expertise in several areas, such as scaling customer connections and knowing COVID-19 spreads and speeds up research and medication. The researchers recorded an elevated selection and use of AI in scientific and medical research, particularly in applications such as medical diagnosis, telemedicine, epidemiological studies, and clinical management of patients. There was also a shift in approaches towards AI and data distribution. According to the study, the crisis occurred in a comprehensive agreement of robots in the workplace and data distribution to monitor the virus's spread. The initiatives of governments in the region open a window of opportunities for the firms involved in the artificial intelligence for diagnosis market.
Strategic insights for the Europe Artificial Intelligence (AI) in Healthcare provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,368.59 Million |
| Market Size by 2027 | US$ 36,015.25 Million |
| Global CAGR (2020 - 2027) | 49.3% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Artificial Intelligence (AI) in Healthcare refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The artificial intelligence in healthcare market in Europe is expected to grow from US$ 1,368.59 million in 2019 to US$ 36,015.25 million by 2027; it is estimated to grow at a CAGR of 49.3% from 2020 to 2027. One of the latest approaches followed by the doctors emphasize on preventive care relying on data-collection, which ranges from collecting genetic information to advances in the electronic healthcare system and wearable devices. Apple, Fitbit, and Garmin are among the wearable device manufacturing companies that introduce products to efficiently monitor heart rate and activity levels. These devices send signals to the patients concerning exercise and medicine dosage. The best AI solution obtains data from mutation genetics and DNA. AI is applied to aid cancer diagnosis and prognosis, given its unparalleled accuracy level, which is even sophisticated than that of the general statistical expert. Corporate giants like Google and IBM are already concentrating on making innovations in oncology, using cutting-edge AI algorithms for early detection and personalized cancer treatment. 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.
In terms of component, the software solutions segment accounted for the largest share of the Europe artificial intelligence in healthcare market in 2019. Based on application type, the clinical trials segment held a larger market share of the Europe artificial intelligence in healthcare market in 2019. On basis of end user, hospitals & healthcare providers held a substantial share in 2019.
A few major primary and secondary sources referred to for preparing this report on the artificial intelligence in healthcare market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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; and Siemens Healthineers AG.
The Europe Artificial Intelligence (AI) in Healthcare Market is valued at US$ 1,368.59 Million in 2019, it is projected to reach US$ 36,015.25 Million by 2027.
As per our report Europe Artificial Intelligence (AI) in Healthcare Market, the market size is valued at US$ 1,368.59 Million in 2019, projecting it to reach US$ 36,015.25 Million by 2027. This translates to a CAGR of approximately 49.3% during the forecast period.
The Europe Artificial Intelligence (AI) in Healthcare Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Artificial Intelligence (AI) in Healthcare Market report:
The Europe Artificial Intelligence (AI) in Healthcare Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Artificial Intelligence (AI) in Healthcare Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Artificial Intelligence (AI) in Healthcare Market value chain can benefit from the information contained in a comprehensive market report.
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