Global Artificial Intelligence in Healthcare Market to Grow at 27.4% During 2024-2032, Impelled by Rising Investments

October 01, 2020 | Healthcare

According to the recent report by IMARC Group, titled “Artificial Intelligence in Healthcare Market Report by Offering (Hardware, Software, Services), Technology (Machine Learning, Context Aware Computing, Natural Language Processing, and Others), Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Dosage Error Reduction, Clinical Trial Participant Identifier, Preliminary Diagnosis, and Others), End-User (Healthcare Providers, Pharmaceutical and Biotechnology Companies, Patients, and Others), and Region 2024-2032,” the global artificial intelligence in healthcare market reached a value of US$ 6.1 Billion in 2023. Artificial intelligence (AI) in healthcare uses several software programs with complex algorithms that can replicate human senses in the analysis, interpretation, and comprehension of medical data. AI aids in evaluating the symptoms and patterns of diseases to offer better support, guidance, and feedback to healthcare providers. Apart from performing clinical diagnosis, it also helps in drug development, providing proper treatment plans for the ailment detected, offering personalized medicine, and monitoring patients’ condition. The incorporation of AI in the healthcare industry has made drug discovery and development more cost-effective, time-efficient, and innovative. With the latest developments, individuals can now track their health status on smart wearable devices.

Global Artificial Intelligence in Healthcare Market Trends:

The outbreak of the coronavirus disease (COVID-19) has decreased the frequency of physical consultations due to lockdowns and social distancing measures. As a result, AI technologies are widely being used in the healthcare sector for offering virtual consultations, diagnosis, and treatment to patients. In addition to this, multiple biotechnology and pharmaceutical companies are adopting the latest technologies to expedite vaccine development for COVID-19, thereby spurring the growth of the market. Additionally, several companies raised investments in healthcare AI startups in 2019, which is acting as another major growth-inducing factor for the market. For example, a United Kingdom-based AI healthcare provider, Babylon Health, raised $550 million. Furthermore, possibilities of decreasing medical costs, along with the rising gap between healthcare professionals and the pool of patients, are expected to create a positive outlook for the market. For instance, AI imaging tools can screen chest X-rays for any signs of tuberculosis, which mitigates human work, thereby bridging the resource gap. Looking forward, IMARC Group expects the market to grow at a CAGR of 27.4% during 2024-2032.

Market Summary:

  • Based on the offering, the market has been divided into hardware, software, and services.
  • On the basis of technology, the market has been categorized into machine learning, natural language processing, and context-aware computing.
  • Based on the application, the market has been segregated into virtual nursing assistant, robot-assisted surgery, dosage error reduction, administrative workflow assistance, clinical trial participant identifier, fraud detection, preliminary diagnosis, and others.
  • On the basis of the end user, the market has been classified into healthcare providers, pharmaceutical and biotechnology companies, patients, and others.
  • Region-wise, the market has been segmented into Asia Pacific (South Korea, Indonesia, China, Japan, India, Australia, and Others), Europe (Germany, the United Kingdom, France, Spain, Italy, Russia, and Others), North America (Canada and the United States), Latin America (Mexico, Brazil, and Others), and Middle East and Africa.
  • The competitive landscape of the market has been analyzed in the report, with some of the key players being Nvidia Corporation, Siemens Healthcare, Welltok Inc., Amazon Web Services Inc., Cloudmedx Inc., DeepMind, Enlitic Inc., General Vision Inc., Micron Technology Inc., Microsoft Corporation, Next It Corporation, Nuance Communications Inc., Google Inc., International Business Machines, iCarbonX, Intel Corporation, and Medtronic.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Offering, Technology, Application, End-User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amazon Web Services Inc., Cloudmedx Inc., DeepMind, Enlitic Inc., General Vision Inc., Google Inc., International Business Machines, iCarbonX, Intel Corporation, Medtronic, Micron Technology Inc., Microsoft Corporation, Next It Corporation, Nuance Communications Inc., Nvidia Corporation, Siemens Healthcare and Welltok Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Artificial Intelligence in Healthcare Market to Grow at 27.4% During 2024-2032, Impelled by Rising Investments
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-714-6104


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More