North 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)
Market Introduction
The North America AI in healthcare market has been segmented into the US, Canada, and Mexico. The US holds held the largest share of the North American AI in healthcare market in 2019. The growth of the market in North America is attributed to evolving digital infrastructure in healthcare, well-established healthcare sector and rising patient awareness regarding benefits of artificial intelligence. The market for artificial intelligence in healthcare in the North American region is also likely to spur with presence of various key players in the market. In addition, adoption of digital tools in healthcare operations for improving the quality and reducing the costs simultaneously is also responsible to augment the growth of the AI in healthcare market in the US and other North American countries. In North America, the US is the largest market for artificial intelligence in healthcare. The growth of this market is primarily driven by increasing adoption of precision medicine, transformation of digital healthcare, increasing number chronic diseases and support from the federal government to implement digital tools in healthcare to cut down the costs and improve the quality of care. Also, growing usage of artificial intelligence in healthcare industry is a major factor driving the North America artificial intelligence in healthcare market.
The COVID-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.
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Market Overview and Dynamics
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. Cross-industry partnerships are resulting into the introduction of new machine learning models that predict risk and provide cognitive assistance. AI is mostly applied in the clinical trials to obtain accurate and valuable output. For instance, the AI-based tools, such as clinical decision support systems and voice recognition software, help streamline workflow processes in hospitals and improve medical care, thereby enhancing the patient experience. Cross-sector partnerships are among the most dynamic practice within corporate and society relations that bridge various sectors, such as public, private, and nonprofit. Therefore, the rising number of cross-industry partnerships is projected to improve AI adoption in the healthcare sector, which propels the market growth.
Key Market Segments
In terms of component, the software solutions segment accounted for the largest share of the North America artificial intelligence in healthcare market in 2019. Based on application type, the clinical trials segment held a larger market share of the North America artificial intelligence in healthcare market in 2019. On basis of end user, hospitals & healthcare providers held a substantial share in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the artificial intelligence in healthcare market in North America 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.
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- To understand the North America artificial intelligence in healthcare market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America artificial intelligence in healthcare market
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
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 – Company Profiles
- 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
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Artificial Intelligence in Healthcare Market – By Component
1.3.2 North America Artificial Intelligence in Healthcare Market – By Application
1.3.3 North America Artificial Intelligence in Healthcare Market – By End User
1.3.4 North America Artificial Intelligence in Healthcare market – By Country
2. North America Artificial Intelligence in Healthcare Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Artificial Intelligence in Healthcare – Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Expert Opinions
5. North America Artificial Intelligence in Healthcare Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Usage of Artificial Intelligence (AI) in Healthcare Industry
5.1.2 AI Healthcare Start ups Funding Getting Increased
5.1.3 Growing Cross-Industry Alliances and Partnerships
5.2 Market Restraints
5.2.1 Lack of Skilled AI Workforce and Inaccurate Regulatory Standards for Medical Software
5.3 Future Trends
5.3.1 AI in Epidemic Outbreak Prediction and Response
5.4 Impact Analysis
6. Artificial Intelligence in Healthcare Market – North America Analysis
6.1 North America Artificial Intelligence in Healthcare Market Revenue Forecast and Analysis
7. North America Artificial Intelligence in Healthcare Market Analysis – By Component
7.1 Overview
7.2 North America Artificial Intelligence in Healthcare Market Revenue Share, by Component (2019 and 2027)
7.3 Software Solution
7.3.1 Overview
7.3.2 Software Solution: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Hardware
7.4.1 Overview
7.4.2 Hardware: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Artificial Intelligence in Healthcare Market Analysis – By Application
8.1 Overview
8.2 North America Artificial Intelligence in Healthcare Market Revenue Share, by Application (2019 and 2027)
8.3 Robot Assisted Surgery
8.3.1 Overview
8.3.2 Robot Assisted Surgery: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Virtual Assistants
8.4.1 Overview
8.4.2 Virtual Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Administrative Workflow Assistants
8.5.1 Overview
8.5.2 Administrative Workflow Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Connected Machines
8.6.1 Overview
8.6.2 Connected Machines: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Diagnosis
8.7.1 Overview
8.7.2 Diagnosis: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Clinical Trials
8.8.1 Overview
8.8.2 Clinical Trials: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.9 Fraud Detection
8.9.1 Overview
8.9.2 Fraud Detection: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.10 Cybersecurity
8.10.1 Overview
8.10.2 Cybersecurity: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.11 Dosage Error Reduction
8.11.1 Overview
8.11.2 Dosage Error Reduction: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.12 Others
8.12.1 Overview
8.12.2 Others: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9. North America Artificial Intelligence in Healthcare Market Analysis – By End User
9.1 Overview
9.2 North America Artificial Intelligence in Healthcare Market, by End-User, 2019 and 2027 (%)
9.3 Hospitals & Healthcare Providers
9.3.1 Overview
9.3.2 Hospitals & Healthcare Providers: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Patients
9.4.1 Overview
9.4.2 Patients: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Pharma and Biotech Companies
9.5.1 Overview
9.5.2 Pharma and Biotech Companies: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9.6 Healthcare Payers
9.6.1 Overview
9.6.2 Healthcare Payers Market: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
10. North America Artificial Intelligence in Healthcare Market – Country Analysis
10.1 Overview
10.1.1 North America: Artificial Intelligence in Healthcare Market, by Country, 2019 & 2027 (%)
10.1.2 US: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
10.1.2.1 US: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
10.1.2.2 US: Artificial Intelligence in Healthcare Market, by Component, 2018–2027 (USD Million)
10.1.2.3 US: Artificial Intelligence in Healthcare Market, by Application, 2018–2027 (USD Million)
10.1.2.4 US: Artificial Intelligence in Healthcare Market, by End User, 2018–2027 (USD Million)
10.1.3 Canada: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
10.1.3.1 Canada: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
10.1.3.2 Canada: Artificial Intelligence in Healthcare Market, by Component , 2018–2027 (USD Million)
10.1.3.3 Canada: Artificial Intelligence in Healthcare Market, by Application, 2018–2027 (USD Million)
10.1.3.4 Canada: Artificial Intelligence in Healthcare Market, by End User, 2018–2027 (USD Million)
10.1.4 Mexico: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
10.1.4.1 Mexico: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
10.1.4.2 Mexico: Artificial Intelligence in Healthcare Market, by Component, 2018–2027 (USD Million)
10.1.4.3 Mexico: Artificial Intelligence in Healthcare Market, by Application, 2018–2027 (USD Million)
10.1.4.4 Mexico: Artificial Intelligence in Healthcare Market, by End User, 2018–2027 (USD Million)
11. Impact of COVID-19 Pandemic on North America Artificial Intelligence in Healthcare Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Artificial Intelligence (AI) in Healthcare Market –Industry Landscape
12.1 Overview
12.2 Growth Strategies in the Artificial Intelligence in Healthcare Market, 2019-2020
12.3 Inorganic Growth Strategies
12.3.1 Overview
12.4 Organic Growth Strategies
12.4.1 Overview
13. Company Profile
13.1 General Electric Company
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Alphabet Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Intel Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Koninklijke Philips N.V.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Microsoft Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 NVIDIA CORPORATION
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Nuance Communications, Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Siemens Healthineers AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Arterys Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Johnson and Johnson Services, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Insight Partners
14.2 Glossary of Terms, Artificial Intelligence in Healthcare Market
LIST OF TABLES
Table 1. US Artificial Intelligence in Healthcare Market, by Component – Revenue and Forecast to 2027 (USD Million)
Table 2. US Artificial Intelligence in Healthcare Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 3. US Artificial Intelligence in Healthcare Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 4. Canada Artificial Intelligence in Healthcare Market, by Component – Revenue and Forecast to 2027 (USD Million)
Table 5. Canada Artificial Intelligence in Healthcare Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 6. Canada Artificial Intelligence in Healthcare Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 7. Mexico Artificial Intelligence in Healthcare Market, by Component – Revenue and Forecast to 2027 (USD Million)
Table 8. Mexico Artificial Intelligence in Healthcare Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 9. Mexico Artificial Intelligence in Healthcare Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 10. Recent Inorganic Growth Strategies in the Artificial Intelligence in Healthcare Market
Table 11. Recent Organic Growth Strategies in the Artificial Intelligence in Healthcare Market
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Artificial Intelligence in Healthcare Market Segmentation
Figure 2. North America Artificial Intelligence in Healthcare Market Segmentation, By Country
Figure 3. North America Artificial Intelligence in Healthcare Market Overview
Figure 4. Robot Assisted Surgery Segment by Application Segment Expected to Witness Rapid Growth
Figure 5. US to Show Significant Growth During Forecast Period
Figure 6. North America Artificial Intelligence in Healthcare Market, Industry Landscape
Figure 7. Artificial Intelligence in Healthcare Market in North America: PEST Analysis
Figure 8. North America Artificial Intelligence in Healthcare Market Impact Analysis of Drivers and Restraints
Figure 9. North America Artificial Intelligence in Healthcare Market – Revenue Forecast and Analysis – 2019- 2027
Figure 10. North America Artificial Intelligence in Healthcare Market Revenue Share, by Component (2019 and 2027)
Figure 11. North America Software Solution: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. North America Hardware: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Services: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America Artificial Intelligence in Healthcare Market Revenue Share, by Application (2019 and 2027)
Figure 15. North America Robot Assisted Surgery: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. North America Virtual Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America Administrative Workflow Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Connected Machines: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. North America Diagnosis: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. North America Clinical Trials: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Fraud Detection: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. North America Cybersecurity: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. North America Dosage Error Reduction: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. North America Others: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. North America Artificial Intelligence in Healthcare Market, by End-User, 2019 and 2027 (%)
Figure 26. North America Hospitals & Healthcare Providers: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. North America Patients: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. North America Pharma and Biotech Companies: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. North America Healthcare Payers: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
Figure 30. North America Others: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
Figure 31. North America: Artificial Intelligence in Healthcare Market, by Key Country – Revenue (2019) (USD Million)
Figure 32. North America: Artificial Intelligence in Healthcare Market, by Country, 2019 & 2027 (%)
Figure 33. US: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
Figure 34. Canada: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
Figure 35. Mexico: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (USD Million)
Figure 36. Impact of COVID-19 Pandemic in North American Country Markets
Figure 37. Growth Strategies in the Artificial Intelligence in Healthcare Market, 2019-2020
- 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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