US AI ML in Healthcare Market Analysis

$3,000.00$7,500.00

  • Type: Service area
  • Published : December 2021
  • Region: North America
  • Country: US
  • Report ID : 4984

  • Format: PPT, PDF

AI ML in Healthcare in US : Segmented by Product, Procedure, Application and End users – Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

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Report Description of the AI ML in Healthcare

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Research Objective:

  • To analyze and forecast the market size of US AI ML in Healthcare market
  • To classify and forecast US AI ML in Healthcare market based on application, drugs, project type, and application.
  • To identify drivers and challenges for US AI ML in Healthcare market
  • To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in US AI ML in Healthcare market
  • To conduct pricing analysis for US AI ML in Healthcare market
  • To identify and analyze the profile of leading players operating in US AI ML in Healthcare market

Reason to Buy the Report:

  • Facilitate decision-making based on strong current and forecast data for AI ML in Healthcare
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the AI ML in Healthcare
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

AI ML in Healthcare in US Executive Summary

Artificial intelligence (AI) is the creation of intelligent systems that can perform tasks without human interventions and instructions. It is the constellation of different technologies such as natural language processing, machine learning, perception and reasoning. These systems use computer algorithms, and huge amount of data to provide a response to a request. AI is being adopted in healthcare using algorithm and software for the analysis of medical data with a view to predict diseases and provide proper medication. It will lead to personalization and optimization leading to improved outcomes for both patients and healthcare systems. A basic AI computer used today in clinical practices can be used for alerts and reminder, diagnostic, therapy planning, Information retrieval and image interpretation. However, glitches in communication and technical infrastructure are amongst the barriers to the growth of AI in health care

 Market Size and Key Findings

The AI ML in Healthcare size is at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 41.8% during the forecast period

Growing technological advancements coupled with an increasing need for efficient and innovative solutions to enhance clinical and operational outcomes is contributing to market growth. The pressure for cutting down spending is rising globally as the cost of healthcare is growing faster than the growth of economies. Advancements in healthcare IT present opportunities to cut down spending by improving care delivery and clinical outcomes. Thus, the demand for AI technologies is expected to increase in the coming years

Market Dynamics

Market Growth Drivers Analysis

The growth of the Artificial intelligence in healthcare market is majorly driven Technological Advances in robotic solutions for more types of surgery, Prevalence of medical errors which leads to tangible penalties, Proliferation of Connected Machines /Devices, storage capacity; greater trust in AI Technology and Interoperability/ data architecture to enhance accuracy.

Market Restraints

Some of the factors hindering the growth of the market includes the High Cost of AI Technologies, Integrating AI into the organization, data challenges, lack of executive commitments. And also, choosing the right AI technologies is one of the barriers in market growth

COVID-19 impact on “AI ML in Healthcare” 

The recent outbreak of COVID-19 has had a positive impact on the market led by the growing awareness and adoption of digital health. Industry can be adopted to gain insights to wider picture of the situation from diagnosis, treatment and to combat new disease transmission. Healthcare artificial intelligence is an innovative technology which has been widely used to fight COVID-19 pandemic. Moreover, to keep a continuous tab on patients during COVID-19 pandemic with effective management, UC San Diego Health has developed an algorithm based on artificial intelligence for more than 2,000 lung X-ray images, helping radiologist to detect early sign of pneumonia in COVID-19 patients

Competitive Landscape

Key Players

The “AI ML in Healthcare” study report will provide valuable insights with an emphasis on the US market including some of the key market players such as as IBM, Microsoft, Google, NVIDIA, Intel, GE Healthcare, and Johnson & Johnson

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and revenue analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players

Notable Recent Deals

  1. Telehealth giant Teladoc’s acquire Livongo. The deal created a digital health behemoth that combines one of the largest telehealth companies with a platform for managing chronic conditions

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

HIPPA Act- The major goal of the Privacy Rule is to ensure that individuals’ health information is properly protected while allowing the flow of health information needed to provide and promote high quality health care. Also, HITECH Act was created to promote and expand the adoption of health information technology, specifically, the use of electronic health records (EHRs) by healthcare providers. Also, FDA is introducing action plan for artificial intelligence/ machine learning based software as a medical device (SaMD) which will eventually help in Patient-Centered Approach Incorporating Transparency to Users

1. Report Description of the AI ML in Healthcare ……………
1.1 Research Scope and Assumption
1.2 Objective of the Study
1.3 Research Methodology
1.4 Reason to Buy the Report
2. AI ML in Healthcare Executive Summary………………………
2.1 AI ML in Healthcare- Industry Snapshot & Key Buying Criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key Findings
3. Market Dynamics of AI ML in Healthcare ……………………
3.1 Market Growth Drivers Analysis
3.1.1 Technological Advances in Robotic Solutions
3.1.2 Prevalence of Medical Errors
3.1.3 Proliferation of Connected Machines /Devices
3.1.4 Storage Capacity
3.1.5 Data Architecture to Enhance Accuracy
3.2 Market Restraints Analysis
3.2.1 High Cost of AI Technologies,
3.2.2 Integrating AI Into the Organization,
3.2.3 Data Challenges
3.2.4 Lack of Executive Commitments
3.2.5 Choosing the Right AI Technologies
3.3 Covid-19 Market Impact Analysis
3.3.1 Negative impact on outcomes
4. US AI ML in Healthcare Market Segmentation………………………………………
4.1 By Components Analysis:
4.1.1 Software Solutions
4.1.2 Hardware
4.1.3 Services
4.2 By Procedure Analysis:
4.2.1 Robot Assisted Surgery
4.2.2 Virtual Assistants
4.2.3 Administrative Workflow Assistants
4.2.4 Connected Machines
4.2.5 Diagnosis
4.2.6 Clinical Trails
4.2.7 Fraud Detection
4.2.8 Cyber Security
4.3 By End-users Analysis:
4.3.1 Hospitals & Healthcare Providers
4.3.2 Patients
4.3.3 Pharmaceuticals & Biotechnology Companies
4.3.4 Healthcare Payers
4.3.5 Others (ACOS and MCOS)
5. AI ML in Healthcare Products Market Share………………………………………
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape…………………………………………………………………
6.1 Major Top Market Players
6.2 R&D Initiatives in AI ML in Healthcare Market
6.3 Notable recent deals in AI ML in Healthcare Market
6.3.1 Joint Ventures
6.3.2 Partnerships
6.3.3 Mergers & Acquisitions
6.3.4 Strategic divestments
7. Key Company Profiles………………………………………………………………….
7.1 IBM Company overview
Product & Services, Strategies & Financials
7.2 Microsoft Company overview
Product & Services, Strategies & Financials
7.3 Google Company overview
Product & Services, Strategies & Financials
7.4 NVIDIA Company overview
Product & Services, Strategies & Financials
7.5 Intel Company overview
Product & Services, Strategies & Financials
7.6 GE Healthcare Company overview
Product & Services, Strategies & Financials
7.7 Johnson & Johnson Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape……………………………………
8.1 Policy changes and Reimbursement Scenario
8.2 Government Initiatives / Intervention Programs
9. Factors Driving Future Growth…………………………………………………………
9.1 New Trends and Development of AI ML in Healthcare Market
9.2 Future Opportunities
10. Strategic Recommendations

AI ML in Healthcare Segmentation

By Components:

Below mentioned products are the pillars of AI ML in Healthcare which are widely used:

  • Software Solutions
  • Hardware
  • Services

By Application:

  • Robot Assisted Surgery
  • Virtual Assistants
  • Administrative Workflow Assistants
  • Connected Machines
  • Diagnosis
  • Clinical Trials
  • Fraud Detection
  • Cybersecurity

From the above-mentioned Application type, the clinical trials segment dominated the AI in healthcare market and accounted for the largest revenue share.

By End-users:

  • Hospitals & Healthcare Providers
  • Patients
  • Pharmaceuticals & Biotechnology Companies
  • Healthcare Payers
  • Others (ACOS and MCOS).

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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