February 9, 2023/Industry News Global/ -- This new report from Stratview Research analyses the Artificial Intelligence in Healthcare Market over the trend period from 2014 to 2019 and the forecast period from 2020 to 2026. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.

Artificial Intelligence in Healthcare Market Overview:

The Global Artificial Intelligence in Healthcare Market is expected to grow from USD 4.5 billion in 2020 to USD 36.7 billion by 2026 at a CAGR of over 42.6% during the forecast period.

Drivers

Rising venture capital investments to promote the development of AI-based tool is likely to drive market growth.

  • The growth of global artificial intelligence in the healthcare market is primarily driven by the increasing usage of big data analytics in healthcare.
  • Increasing collaborations by the market players with hospitals are also expected to add to the market growth significantly.
  • Furthermore, the growing adoption of AI in hospitals to provide improves healthcare services is projected to create significant growth opportunities for the players operating in the global artificial intelligence in the healthcare market over the forecast period.

Segment Analysis

Application Trends

Based on application, the market has been segmented into robot assisted surgery, virtual assistants, connected machines, diagnosis, clinical trials and others.

  • The clinical trial segment accounted for the largest market share in 2020. The segment growth can be attributed to increasing integration of artificial intelligence in clinical trial process to save time and efforts.

Regional Trends

Geographically, the market in North America accounted for the largest market share in 2020 and is expected to continue its dominance over the forecast period owing increasing adoption of technologically advanced healthcare solution and increasing investment in R&D activities in healthcare sector.

The market in Asia-Pacific region is projected to register fastest growth during the review period on account of increasing investment of development of advanced healthcare infrastructure and government support to promote usage of AL based tools in healthcare sector.

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