According to the recent study the artificial intelligence in healthcare market is projected to reach an estimated $4.8 billion by 2028 from $1.2 billion in 2023, at a CAGR of 32% from 2023 to 2028. Growth in this market is primarily driven by growing volume and complexity of healthcare datasets, increasing demand for personalized therapy, and rising need for automated insights for certain medical applications, such as health monitoring, treatment design, and digital consultation.

A more than 150 – page report is developed to understand trends, opportunities and forecast in artificial intelligence in healthcare market by component (software solution, hardware, and service), application (robot-assisted surgery, virtual assistant, administrative workflow assistant, connected machine, diagnosis, clinical trial, fraud detection, cybersecurity, and dosage error reduction), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Software solution market is expected to remain the largest segment during the forecast period.”

Based on component, the artificial intelligence in healthcare market is segmented into software solution, hardware, and service. Lucintel forecasts that the software solution market is expected to remain the largest segment due to the massive use of AI-based technologies in healthcare for safety reasons, medical research, digital assistants, robot-assisted surgeries, telemedicine, medication error reduction, and fraud identifying.

“Within the artificial intelligence in healthcare market, the clinical trial segment is expected to remain the largest application”

Based on application the clinical trial segment is expected to witness the highest growth over the forecast period due to the growing investments in research and drug delivery, rising number of patent expiry, and increasing demand for more rapid and precise clinical trials to support the development of new medicines.

“North America will dominate the artificial intelligence in healthcare market in near future”

North America will remain the largest region due to the presence of established healthcare infrastructure, increasing adoption of AL/ML technologies, and rising preference for value-based treatment among patients in the region.

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Major players of artificial intelligence in healthcare market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Nuance Communications, IBM, Microsoft, NVIDIA, and Intel are among the major artificial intelligence in healthcare providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/artificial-intelligence-in-healthcare-market.aspx or helpdesk@lucintel.com