North America Artificial Intelligence (AI) in Healthcare Market
No. of Pages: 194 | Report Code: TIPRE00020534 | Category: Technology, Media and Telecommunications
No. of Pages: 194 | Report Code: TIPRE00020534 | Category: Technology, Media and Telecommunications
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.
Strategic insights for the North America 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$ 1,605.67 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 |
The geographic scope of the North America 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 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.
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.
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.
The North America Artificial Intelligence (AI) in Healthcare Market is valued at US$ 1,605.67 Million in 2019, it is projected to reach US$ 44,056.97 Million by 2027.
As per our report North America Artificial Intelligence (AI) in Healthcare Market, the market size is valued at US$ 1,605.67 Million in 2019, projecting it to reach US$ 44,056.97 Million by 2027. This translates to a CAGR of approximately 50.1% during the forecast period.
The North America 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 North America Artificial Intelligence (AI) in Healthcare Market report:
The North America 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 North America Artificial Intelligence (AI) in Healthcare Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Artificial Intelligence (AI) in Healthcare Market value chain can benefit from the information contained in a comprehensive market report.
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