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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Artificial Intelligence in Medicine Market: By Application, and Region Forecast 2019-2030
Artificial Intelligence in Medicine Market: By Application, and Region Forecast 2019-2030
Artificial Intelligence in Medicine Market size was valued at US$ 821.2 million in 2023 and is expected to grow at a CAGR of 48.8% from 2024 to 2030. The global market provides a detailed overview of artificial intelligence in the medicine market which can be segmented by application, and region. Based on the application, artificial intelligence in the medical market has been segregated into hospital workflow, medical imaging & diagnosis, therapy planning, and drug discovery. By application, the drug discovery segment is expected to rise in the coming few years owing to the increasing adoption of artificial intelligence in drug discoveries. By region, North America is anticipated to dominate the market owing to one of the largest markets for AI in the world.
Furthermore, the strong economy, the high adoption rate of AI technologies across healthcare and pharma, the vigorous presence of prominent AI software and system suppliers, and huge investment by government and private organizations for the development and growth of research & development activities are poised to drive the demand for AI in medicine in the region.
Study Period
2024-2030Base Year
2023CAGR
48.8%Largest Market
Asia PacificFastest Growing Market
North America
There are some factors that drive the growth of AI in the medicine market including the dearth of skilled healthcare professionals and an increase in the processing power of AI systems which are estimated to enhance the efficiency of drug discovery and management of clinical trials. Additionally, the rise in importance of precision medicine and the rise in funding for the R&D activities of the use of AI technology in the field of medicine are further anticipated to boost the market growth. However, limited acceptance from healthcare professionals and limitations of AI decision-making could hamper the market growth.
North America artificial intelligence in medicine market is growing due to its deep-rooted healthcare infrastructure. The higher adoption of the advanced treatment options is another factor adding fuel for the growth of the market in this region.
Europe market is falling next to North America.
Asia Pacific region is expected to grow over the forecast period owing to its growing awareness among the people regarding the treatment options associated with artificial intelligence.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
|
Market Size in 2023 |
US$ 821.2 million |
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Market CAGR |
48.8% |
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By Application |
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By Region |
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The artificial intelligence in medicine market size was valued at US$ 821.2 million in 2023 and is projected to grow at a CAGR of 48.8% from 2024 to 2030.
The artificial intelligence in medicine market key players are: IBM Corporation (US) Intel Corporation (US) Google, Inc. (US) NVIDIA Corporation (US) Microsoft Corporation (US) iCarbonX (China) Next IT Corp. (US) CloudMedx Inc. (US) Carescore (US) Johnson & Johnson (US) Welltok, Inc. (US) General Vision, Inc. (US)
The artificial intelligence in medicine market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Artificial Intelligence in Medicine Market Introduction |
| 2.1.Global Artificial Intelligence in Medicine Market - Taxonomy |
| 2.2.Global Artificial Intelligence in Medicine Market - Definitions |
| 2.2.1.Application |
| 2.2.2.Region |
| 3.Global Artificial Intelligence in Medicine Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Artificial Intelligence in Medicine Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Artificial Intelligence in Medicine Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Hospital Workflow |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Medical Imaging & Diagnosis |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Therapy Planning |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Drug Discovery |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Artificial Intelligence in Medicine Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. North America |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Europe |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Asia Pacific (APAC) |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Middle East and Africa (MEA) |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Latin America |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. North America Artificial Intelligence in Medicine Market, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 7.1.1.Hospital Workflow |
| 7.1.2.Medical Imaging & Diagnosis |
| 7.1.3.Therapy Planning |
| 7.1.4.Drug Discovery |
| 7.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 7.2.1.United States of America (USA) |
| 7.2.2.Canada |
| 8. Europe Artificial Intelligence in Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Hospital Workflow |
| 8.1.2.Medical Imaging & Diagnosis |
| 8.1.3.Therapy Planning |
| 8.1.4.Drug Discovery |
| 8.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Germany |
| 8.2.2.France |
| 8.2.3.Italy |
| 8.2.4.United Kingdom (UK) |
| 8.2.5.Spain |
| 8.2.6.Rest of EU |
| 9. Asia Pacific (APAC) Artificial Intelligence in Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Hospital Workflow |
| 9.1.2.Medical Imaging & Diagnosis |
| 9.1.3.Therapy Planning |
| 9.1.4.Drug Discovery |
| 9.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.China |
| 9.2.2.India |
| 9.2.3.Australia and New Zealand (ANZ) |
| 9.2.4.Japan |
| 9.2.5.Rest of APAC |
| 10. Middle East and Africa (MEA) Artificial Intelligence in Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Hospital Workflow |
| 10.1.2.Medical Imaging & Diagnosis |
| 10.1.3.Therapy Planning |
| 10.1.4.Drug Discovery |
| 10.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.GCC Countries |
| 10.2.2.South Africa |
| 10.2.3.Rest of MEA |
| 11. Latin America Artificial Intelligence in Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Hospital Workflow |
| 11.1.2.Medical Imaging & Diagnosis |
| 11.1.3.Therapy Planning |
| 11.1.4.Drug Discovery |
| 11.2. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Brazil |
| 11.2.2.Mexico |
| 11.2.3.Rest of LA |
| 12. Competition Landscape |
| 12.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 12.2.1.IBM Corporation (US) |
| 12.2.2.Intel Corporation (US) |
| 12.2.3.Google, Inc. (US) |
| 12.2.4.NVIDIA Corporation (US) |
| 12.2.5.Microsoft Corporation (US) |
| 12.2.6.iCarbonX (China) |
| 12.2.7.Next IT Corp. (US) |
| 12.2.8.CloudMedx Inc. (US) |
| 12.2.9.Carescore (US) |
| 12.2.10.Johnson & Johnson (US) |
| 12.2.11.Welltok, Inc. (US) |
| 12.2.12.General Vision, Inc. (US) |
| 13. Research Methodology |
| 14. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.