North America Artificial Intelligence (AI) in Healthcare Market Report 2022 to 2030

North America Artificial Intelligence (AI) in Healthcare Market Analysis

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This report presents a strategic analysis of North America Artificial Intelligence (AI) in the Healthcare Market and a forecast for its development in the medium and long term. It provides a broad overview of the market dynamics, trends and insights, growth drivers and restraints, segmentation, competitive landscape, healthcare policies and regulatory framework, reimbursement scenario, challenges and future outlook. This is one of the most comprehensive reports about North America Artificial Intelligence (AI) in the Healthcare Market, offering unmatched value, accuracy and expert insights.

ID: IN10NADH003 CATEGORY: Digital Health GEOGRAPHY: North America

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North America Artificial Intelligence (AI) in Healthcare Market Executive Summary

North America's fastest-growing economy in 2021 was the United States. United States health spending is projected to have grown by 4.2% to $4.3 trillion in 2021, compared with a growth surge of 9.7% in 2020, according to the report from actuaries at the Centers for Medicare and Medicaid Services.

Total health spending in Canada reached a new level in 2021, at more than $308 billion, or $8,019 per Canadian. Health expenditure represented around 12.7% of Canada’s gross domestic product (GDP) in 2021, following a high of 13.7% in 2020. Governments and insurance stakeholders also need to discuss win-win reimbursement schemes that allow the democratization of telemedicine and provide lasting benefits for patients at an effective cost.

Digital healthcare is developing globally as a result of IT technology development and the emergence of remote patient monitoring (RPM) solutions. RPM has developed into a useful tool for enhancing clinical assessment and decision-making while lowering the likelihood of hospitalization. With the prevalence of cancer, diabetes and cardiovascular diseases rising, RPM service use is also anticipated to rise. Additionally, as the aging population grows, more of them are choosing independent, healthy lifestyles, which will probably increase the adoption of RPM solutions.

Artificial intelligence for the healthcare sector and related specialists came out as a blessing in this crisis. Eletimes.com states that Artificial Intelligence (AI) technology can automatically mine through news articles and web information from all over the world, assisting healthcare professionals in identifying recurring irregularities that could result in an epidemic or, worse yet, a pandemic. By retrieving information about diseases, this technology may also assist the globe to survive a pandemic that is about to strike.

Market Size and Key Findings

The North America Artificial Intelligence (AI) in Healthcare market is estimated to be valued at US$ 11.6 Bn in 2021 and is expected to exhibit a CAGR of 37% over the forecast period (2021-2030).

North America Artificial Intelligence (AI) in Healthcare Market Size (In USD Bn) (2021-2030F)

Market Dynamics

Market Growth Drivers Analysis

Care providers can now diagnose patients' underlying medical issues early thanks to deep learning technologies, predictive analytics, content analytics, and Natural Language Processing (NLP) tools. The Covid-19 outbreak increased demand for AI technology and made these sophisticated technologies' potential more apparent. Healthcare systems extensively embraced these technologies for the quick diagnosis and detection of various virus strains and made use of tailored data to enhance outbreak management. In order to quickly and accurately diagnose patients who tested positive for Covid-19, AI/ML algorithms were used in the diagnosis field. These technologically advanced modules were trained using datasets of chest CT scans, symptoms, pathological findings, and exposure history.

Rapid developments in this field, such as the intravascular delivery of bone marrow-derived stem cells employing autologous stem cell therapy for treating brain injury, are also expected to support the segment's expansion through 2022. Given the increased prevalence of disorders like cerebral stroke, cerebral balloon angioplasty—a type of interventional Artificial Intelligence (AI) in Healthcare—is anticipated to develop profitably over the projected period. In addition, a strong preference for pairing cerebral stents with angioplasty in order to prevent carotid plaque from reaccumulating in the afflicted vessels is anticipated to spur the expansion of this sub-segment in the upcoming years.

Competitive Landscape

Key Players

The prominent players operating in this market include Nuance Communications, Inc., IBM Corporation, Microsoft, NVIDIA Corporation, Intel Corporation, DeepMind Technologies Limited, etc.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Artifical Intelligence (AI) in Healthcare Market Segmentation

The Artificial Intelligence (AI) in Healthcare Market is segmented as mentioned below:

By Healthcare Component (Revenue, USD Billion):

Software Solutions
Hardware
Services

By Healthcare Applications (Revenue, USD Billion):

Robot-Assisted Suregery
Virtual Assistants
Administrative Workflow Assistants
Connected Machines
Diagnosis
Clinical Trials
Fraud Detection
Cybersecurity
Dosage Error Reduction

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.