Artificial Intelligence (AI) in Healthcare Market

The global Artificial Intelligence (AI) in healthcare market is forecasted to reach USD 164.16 billion by 2030 from USD 14.92 billion in 2024, at a CAGR of 49.1% during the forecast period. The market growth is primarily driven by the increase in the chronic diseases such as heart disease, stroke, diabetes, and cancer subsequently putting significant pressure on healthcare service providers to optimize their operations. Moreover, technological advancements in machine learning algorithms, cloud computing, data analytics, and other sophisticated technologies is driving the market growth to a large extent. Companies are updating their product portfolio to incorporate artificial intelligence into their offerings. For instance, GE Healthcare, Cognizant, and many more have upgraded their Artificial Intelligence (AI) in healthcare capabilities to enhance overall healthcare experience. However, the resistance among medical practitioners to adopt AI-based solutions, and high implementation costs are expected to restrain the market growth to a certain extent.

The prominent players operating in the Artificial Intelligence (AI) in healthcare market include Koninklijke Philips N.V. (Netherlands), Microsoft (US), Siemens Healthineers AG (Germany), NVIDIA Corporation (US), Epic Systems Corporation (US), GE Healthcare (US), Medtronic (US), Oracle (US), Veradigm LLC (US), Merative (IBM) (US), Google (US), Cognizant (US), Johnson & Johnson (US), Amazon Web Services, Inc. (US), SOPHiA GENETICS (US), Riverian Technologies (US), Terarecon (ConcertAI) (US), 3M (US), Tempus (US), Viz.ai (US). These companies adopted strategies such as product launches, product updates, expansions, partnerships, collaborations, mergers and acquisitions to strengthen their market presence in the Artificial Intelligence (AI) in healthcare market.

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Koninklijke Philips N.V. (Netherlands) is one of the key players that offers Artificial Intelligence (AI) in healthcare solutions. Philips leverages AI in healthcare to deliver innovative solutions across diagnostic imaging, patient monitoring, and precision medicine. Its advanced AI-driven platforms, such as the Philips HealthSuite, enable the integration and analysis of vast clinical data, supporting personalized treatment plans and improved patient outcomes. AI capabilities are embedded in imaging tools enhances diagnostic accuracy and streamlines radiology workflows. The company’s solutions focus on operational efficiencies, including workflow automation and predictive analytics, empowering healthcare providers to deliver value-based care. Philips' strong emphasis on collaboration with hospitals and technology partners further accelerates the adoption of AI in healthcare. Philips has a significant global presence, serving over 100 countries across North America, Europe, Asia-Pacific, Latin America, and Africa. Its operations are supported by a strong network of subsidiaries, including Philips Healthcare, Philips Medical Systems, and Philips Research. The company maintains strategic R&D centers in key markets and collaborates with leading medical institutions to drive innovation in health technology.

Microsoft (US) is one of the leading providers of software & tools that leverages advanced AI capabilities in healthcare to enhance patient outcomes, streamline operations, and drive innovation. Its Azure-based AI solutions support diverse applications like medical imaging, genomics, and precision medicine. Microsoft also offers healthcare-specific AI models through its Azure AI Model Catalog, designed to support hospitals and research institutions in building and deploying tailored AI solutions efficiently. Additionally, the integration of Nuance's AI-powered clinical and diagnostic tools bolsters its capacity to support healthcare providers in decision-making and care delivery. Microsoft has a strong global presence, with key operations supported through its Azure cloud infrastructure across regions like North America, Europe, Asia-Pacific, and the Middle East. Its geographic footprint enables widespread access to advanced AI tools for healthcare providers, ensuring scalability, data security, and compliance with local regulations like GDPR in Europe and HIPAA in the U.S.

Related Reports:

Artificial Intelligence (AI) in Healthcare Market by Offering (Integrated), Function (Diagnosis, Genomic, Precision Medicine, Radiation, Immunotherapy, Pharmacy, Supply Chain), Application (Clinical), End User (Hospitals), Region- Global Forecast to 2030

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