Artificial Intelligence in Medicine Market: By Application (Hospital Workflow, Medical Imaging & Diagnosis, Therapy Planning, and Drug Discovery), and Geography

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Artificial Intelligence in Medicine Market size was valued at USD 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 artificial intelligence in medicine 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.

Artificial Intelligence in Medicine Market Key Development:
  • In Jan 2020, BioMotiv and Atomwise announced a strategic partnership to co-develop therapies. The organizations will form co-owned, joint development companies that combine Atomwises AI technology and BioMotiv's deep expertise in preclinical and clinical development to grow innovative academic and early-stage research into small molecule therapies. Atomwises AI technology will enable a lot of programs for challenging targets that are considered undruggable with traditional tools.

Artificial Intelligence In Medicine Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

48.8%

Largest Market

Asia Pacific

Fastest Growing Market

North America
Artificial Intelligence in Medicine Market Dynamics

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.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Artificial Intelligence In Medicine Market Segmentation

By Application
  • Hospital Workflow
  • Medical Imaging & Diagnosis
  • Therapy Planning
  • Drug Discovery
By Geography
  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa (MEA)

 

Frequently Asked Questions

The artificial intelligence in medicine market size was valued at USD 821.2 million in 2023

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 
  • 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)

Adjacent Markets