The Role of AI in the Global Healthcare Market 2021: Rising – GlobeNewswire

Dublin, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Healthcare Market (by Component, Application, End-user & Region): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com's offering.

The global AI in healthcare market is forecasted to record a value of US$22.68 billion in 2025, progressing at a CAGR of 35.59%, for the duration spanning 2021-2025.

Factors such as rising utilization of robots for surgical and rehabilitation procedures, growing potential of AI-based tools for elderly care, surging investment in AI deals in healthcare and rising adoption of wearable devices are driving growth.

However, the market growth would be challenged by reluctance among medical practitioners regarding the adoption of AI-based technologies and concerns regarding data privacy. The market is anticipated to experience certain trends like shortage of skilled workforce, upsurge in demand for personalized medicine and rising number of cross-industry partnerships and collaborations.

The global AI in healthcare market can be segmented on the basis of component, application and end-user. Based on component, the market can be bifurcated into software solutions, hardware and services. According to application, the market can be categorized into clinical trials, robot assisted surgery, connected machines, fraud detection, virtual assistants, administrative workflow assistants, diagnosis, dosage error reduction, cybersecurity and others. Whereas, depending on end-users, the market can broadly be split into hospitals & healthcare providers, pharmaceutical & biotechnology companies, patients, healthcare payers and others.

The fastest growing regional market is North America due to surging adoption of machine learning in the medical sector leading to the growth of AI in the healthcare market in countries like the U.S. and Canada and increasing government initiatives to adopt digital platforms in healthcare industry and sector. Further, the COVID-19 outbreak has significantly promoted the implementation of remote health check-ups using digital tools, which positively impacted the market growth.

Market Dynamics

Growth Drivers

Key Trends and Developments

Challenges

Scope of the report

Key Topics Covered:

Market Overview

Impact of COVID-19

Market Analysis

Regional Market

Competitive Landscape

Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/9qkufe

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The Role of AI in the Global Healthcare Market 2021: Rising - GlobeNewswire