What is Global Artificial Intelligence (AI) in Medical Market?
The Global Artificial Intelligence (AI) in Medical Market is a rapidly evolving sector that integrates advanced AI technology into the medical field. This market encompasses a wide range of applications, from diagnostics and treatment recommendations to patient care and hospital management. The integration of AI in healthcare aims to improve patient outcomes, streamline healthcare delivery, and reduce costs. AI algorithms and software are designed to mimic human cognition in the analysis, interpretation, and comprehension of complex medical and healthcare data. These systems can learn from experiences, adapt to new inputs, and perform tasks that typically require human intelligence, such as interpreting medical images or diagnosing diseases. The AI in medical market is driven by the increasing need for precision medicine, rising application of big data in healthcare, and the growing importance of precision medicine.
Hardware, Software, Services in the Global Artificial Intelligence (AI) in Medical Market:
The Global Artificial Intelligence (AI) in Medical Market is segmented into hardware, software, and services. Hardware includes devices and machinery equipped with AI technology, such as robotic surgical equipment and AI-enhanced medical imaging devices. Software comprises AI platforms and applications used in healthcare, such as machine learning algorithms for diagnosing diseases or AI-powered health apps. Services include consultation, implementation, and maintenance of AI systems in healthcare settings. Each segment plays a crucial role in the overall functioning of the AI in medical market. The hardware provides the physical components necessary for AI systems to operate, the software enables these systems to perform specific tasks, and the services ensure that these systems are properly implemented and maintained.
Auxiliary Diagnosis, Drug Discovery, Health Management, Hospital Management, Others in the Global Artificial Intelligence (AI) in Medical Market:
The Global Artificial Intelligence (AI) in Medical Market finds its application in various areas such as Auxiliary Diagnosis, Drug Discovery, Health Management, Hospital Management, and others. In Auxiliary Diagnosis, AI helps in diagnosing diseases by analyzing patient data and medical images. In Drug Discovery, AI aids in identifying potential drug candidates and predicting their effectiveness. In Health Management, AI assists in monitoring patient health and predicting potential health risks. In Hospital Management, AI is used for administrative tasks such as scheduling appointments and managing patient records. Other applications of AI in healthcare include telemedicine, patient engagement, and clinical trial research.
Global Artificial Intelligence (AI) in Medical Market Outlook:
The Global Artificial Intelligence (AI) in Medical Market has shown significant growth in recent years. In 2023, the market was valued at US$ 6384.2 million. However, it is expected to reach a staggering US$ 36010 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 27.7% during the forecast period from 2024 to 2030. This substantial growth can be attributed to the increasing adoption of AI in healthcare, advancements in AI technology, and the growing need for precision medicine. The market's potential is further underscored by the increasing investment in AI by healthcare organizations and the growing demand for AI-powered healthcare services.
| Report Metric | Details |
| Report Name | Artificial Intelligence (AI) in Medical Market |
| Accounted market size in 2023 | US$ 6384.2 million |
| Forecasted market size in 2030 | US$ 36010 million |
| CAGR | 27.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| By Region |
|
| By Company | NVIDIA, Intel, IBM, Google, Microsoft, AWS, GE Healthcare, Siemens Healthineers, Medtronic |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
