Global Healthcare Artificial Intelligent Market: Insights and Forecast, 2018-2025: Emphasis on Technology (Machine Learning, Deep Learning, Artificial Neural Network), Applications (Robotic Surgery, Diagnosis, Virtual Nursing Assistance, Administrative Workflow Assistance); Offerings (Hardware, Software and Services) and Region
Region:Global
Product Code:UMAI19138
March 2019
127
About the Report
The report published" AI in healthcare Insights to 2025 - provides a comprehensive analysis of AI in healthcare market at global level. The report focuses on overall market size for AI in healthcare services by various AI technologies (machine learning, deep learning and artificial neural network), by applications (into robotic surgery, diagnosis, Virtual Nursing assistance and Administrative workflow assistance), by offering (hardware, software and services) and by different regions such as North America, Europe, Asia Pacific and Rest of World.
The report also provides a holistic view of the overall AI in healthcare market as well as pricing analysis, growth drivers, restraints and factor analysis in terms of top investments undertaken, top product launches, major merger and acquisitions.
For an in-depth market overview, the report also includes a region wise analysis. For all the top industry players, a detailed product description, short- and long-term strategies, financials, SWOT analysis and recent developments are also included in the dental imaging market report. In addition to this, Porter 5s along with market share of leading AI in healthcare companies by application (Medtronic Plc, Abbott Laboratories, Johnson and Johnson, Bcton Dickinson, Boston Scientific Corporation, Koninklijke Philips N.V, Roche Holding AG, Siemens Healthineers AG, Stryker Corporation and Oracle Corporation) have also been covered.
AI in healthcare Market Size
In terms of revenue, the AI in healthcare has registered a remarkable growth with positive CAGR during the forecasted period. The AI in healthcare market has witnessed an overall rise in extraoral adoption in last few years. Increasingly Large and Complex Data Set, Growing Demand to Reduce Healthcare Costs, Improving Computing Power in Healthcare, Rising Need for Improvised Healthcare Services Due to Imbalance Between Health Workforce and Patients and Application of AI for novel surgeries and screening are the major factors influencing the market growth. However, Limitations of AI decision-making, Reluctance Among Medical Practitioners to Adopt AI-Based Technologies and Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software has considerably catalysed the growth potential of the respective market.
AI in healthcare Market Segmentation
Segmentation by Technology
In terms of segmentation in terms of technology, the AI in healthcare market has been segmented into machine learning, deep learning and artificial neural network. Out of these technologies, in 2018, machine learning dominated the market globally and is expected to maintain its lead in 2025. Increasing power of machine learning in diagnosing disease and in categorisation and classifying health data is empowering physicians and speed-up decision making across the medical facilities including hospitals or clinic.
Segmentation by Application
In terms of segmentation in terms of application, the AI in healthcare market has been segmented into robotic surgery, diagnosis, Virtual Nursing assistance and Administrative workflow assistance. In 2018, robotic surgery dominated the application segment of global AI in healthcare market, generating revenue of USD 8589 million. Followed by virtual nursing assistance and administrative workflow.
Segmentation by Offering
Based on the type of offering the global AI in healthcare market is segmented into hardware, software or services. Currently, services segment dominates the market. However, hardware segment is expected to witness highest CAGR growth during the forecast period 2018-2025.
Segmentation by Region
Artificial intelligence in healthcare market of North America has been on an up-surging trend due to the high adoption rate of AI in country such as US and Canada, paired with development and growth of research & development activities that combines the investments by government and private organizations. As far as Asia-Pacific region is concerned, it has lagged North America and Europe in terms of technology adoption. However, AI is one technology area where Asia-Pacific can stand apart, compared to other region and has been expected to witness the highest growth in the forecasted period.
Scope of the report:
AI in Healthcare Market
Market Insights, by Technology
Machine learning
Dep learning
Intelligent agent
Neural networks
Market Insights, by Application
Robotic surgery
Diagnosis
Virtual Nursing assistance
Administrative workflow assistance
Advances analytics and research
Market Insights, by Region
North America AI in Healthcare Market
Europe AI in Healthcare Market
Asia-Pacific AI in Healthcare Market
Rest of the world AI in Healthcare Market
Company Profiled
Medtronic Plc
Abbott Laboratories
Johnson and Johnson
Bcton Dickinson
Boston Scientific Corporation
Koninklijke Philips N.V
Roche Holding AG
Siemens Healthineers AG
Stryker Corporation
Oracle Corporation
Reasons to buy:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry.
Examination of industry attractiveness with the help of Porter's Five Forces analysis
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry
Customization Areas:
The AI in healthcare Market can be customized to regional/country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customised solutions to clients.
Scope of the Report
Products
Companies
Medtronic Plc, Abbott Laboratories, Johnson & Johnson, Becton Dickinson, Boston Scientific Corporation, Koninklijke Philips N.V., Roche Holding AG, Siemens Healthineers AG, Stryker Corporation, Oracle Corporation
Table of Contents
1. MARKET INTRODUCTION 12
1.1 Market Definition 12
1.2 Objective of the Study 12
1.3 Limitation 12
1.4 Stakeholders 13
1.5 Currency used in the Report 13
2. RESEARCH METHODOLOGY OR ASSUMPTION 14
2.1 Research Methodology for AI in Healthcare Market 14
2.1.1 Main objective of the AI in health care sector Market Study 15
3. REGULATORY FRAMEWORK AND KEY DEVELOPMENT 16
3.1 General Overview 16
3.1.1 North America 16
3.1.1.1 North America Regulatory Framework for AI in Healthcare 16
3.1.1.2 North American Key Developments of AI in Healthcare 17
3.1.2 Europe 17
3.1.2.1 European Regulatory Framework for AI in Healthcare 17
3.1.2.2 European Key Developments of AI in Healthcare 18
3.1.3 Asia Pacific (APAC) 19
3.1.3.1 Asia Pacific (APAC) Regulatory Framework for AI in Healthcare 19
3.1.3.2 Asia Pacific (APAC) Key Developments of AI in Healthcare 20
3.1.4 Rest of World (RoW) 20
3.1.4.1 Rest of World (RoW) Regulatory Framework for AI in Healthcare 20
4. INDUSTRY PERFORMANCE 22
5. EXECUTIVE SUMMARY 23
6. MARKET OVERVIEW 25
6.1 Introduction 25
6.2 Market Dynamics 26
6.2.1 Market Drivers 26
6.2.1.1 Increasingly Large and Complex Data Set 26
6.2.1.2 Growing Demand to Reduce Healthcare Costs 28
6.2.1.3 Improving Computing Power in Healthcare 29
6.2.1.4 Rising Need for Improvised Healthcare Services 30
6.2.1.5 Application of AI for novel surgeries and screening 31
6.2.2 Market Restraints 33
6.2.2.1 Limitations of AI decision-making 33
6.2.2.2 Reluctance Among Medical Practitioners to Adopt AI-Based Technologies 33
6.2.2.3 Lack of Skilled AI Workforce and Ambiguous Regulation for Medical Software 34
6.2.3 Trends in AI in Healthcare 34
6.2.3.1 Democratisation of access 34
6.2.3.2 Migration from Doctor-Centric Diagnostics to Data-Driven Diagnostics 34
6.2.3.3 Transformation of Drug Discovery in Pharma Industry 34
6.2.3.4 Data Explosion 35
6.2.4 Opportunity 35
6.2.4.1 Growing Potential of AI-Based Tools 35
6.2.4.2 Increasing Focus on Developing Human-Aware AI Systems 35
6.2.4.3 Surging Spending Power on R&D 36
6.2.4.4 Untapped market in developing regions 37
7. KEY MARKET INDICATORS 38
7.1 General Overview 38
7.1.1 Demand and Supply Side Analysis 38
7.1.2 North America 39
7.1.3 Europe 39
7.1.4 Asia-Pacific 39
7.1.5 Applications of AI in Healthcare 41
7.1.5.1 Top Winning Strategies 41
7.1.5.1.1 Top Product launches 42
7.1.5.1.2 Top Investments 43
7.1.5.1.3 Top Acquisition and Collaborations 45
8. MARKET INSIGHTS, BY TECHNOLOGY 46
8.1 General Overview 46
8.1.1 Machine Learning 47
8.1.2 Deep Learning 48
8.1.3 Artificial Neural Network 49
9. MARKET INSIGHTS, BY APPLICATION 52
9.1 General Overview 52
9.1.1 Robotic Surgery 53
9.1.2 Diagnosis 54
9.1.3 Virtual Nursing Assistance 55
9.1.4 Administrative Workflow Assistance 56
10. MARKET INSIGHTS, BY TYPE OF OFFERINGS 58
10.1 General Overview 58
10.1.1 Hardware 59
10.1.2 Software 60
10.1.3 Services 62
11. MARKET INSIGHTS, BY REGION 64
11.1 General Overview 64
11.2 North America Healthcare AI Market 65
11.2.1 North America Healthcare AI Market, by Technology 65
11.2.2 North America Healthcare AI Market, by Application 66
11.2.3 North America Healthcare AI Market, by Type of Offerings 68
11.3 Europe Healthcare AI Market, USD Million (2015-2025) 68
11.3.1 Europe Healthcare AI Market, by Technology 69
11.3.2 Europe Healthcare AI Market, by Application 70
11.3.3 Europe Healthcare AI Market, by Type Offering 71
11.4 Asia-Pacific Healthcare AI Market, USD Million (2015-2025) 71
11.4.1 Asia-Pacific Healthcare AI Market, by Technology 72
11.4.2 Asia-Pacific Healthcare AI Market, by Application 73
11.4.3 Asia-Pacific Healthcare AI Market, by Type of Offerings 74
11.5 Rest of the World Healthcare AI Market, USD Million (2015-2025) 74
11.5.1 Rest of World Healthcare AI Market, by Technology 75
11.5.2 Rest of World Healthcare AI Market, by Application 76
11.5.3 Rest of World Healthcare AI Market, by Type of Offerings 77
12. COMPETITIVE SCENARIO 78
12.1 Global Healthcare AI Market Share Analysis, 2018 78
12.2 Porter's Five forces analysis 80
12.2.1 Bargaining power of Buyer 80
12.2.2 Bargaining power of Supplier 81
12.2.3 Threat of new entrants 81
12.2.4 Availability of Substitute 82
12.2.5 Industry Rivalry 82
13. TOP COMPANY PROFILES 83
13.1 Medtronic Plc 83
13.1.1 Key Facts 83
13.1.2 Business Description 83
13.1.3 Key Product/Services Offerings 84
13.1.4 SWOT Analysis 85
13.1.5 Key Financials 85
13.1.5.1 Revenue Split 86
13.1.6 Recent Developments 86
13.1.7 Funding 87
13.2 Abbott Laboratories 88
13.2.1 Key Facts 88
13.2.2 Business Description 88
13.2.3 Key Product/Services Offerings 89
13.2.4 SWOT Analysis 89
13.2.5 Key Financials 90
13.2.5.1 Revenue Split 90
13.2.6 Recent Developments 91
13.3 Johnson & Johnson 92
13.3.1 Key Facts 92
13.3.2 Business Description 92
13.3.3 Key Product/Services Offerings 93
13.3.4 SWOT Analysis 93
13.3.5 Key Financials 94
13.3.5.1 Revenue Split 94
13.3.6 Recent Developments 95
13.4 Becton Dickinson 97
13.4.1 Key Facts 97
13.4.2 Business Description 97
13.4.3 Key Product/Services Offerings 98
13.4.4 SWOT Analysis 99
13.4.5 Key Financials 99
13.4.5.1 Revenue Split 100
13.4.6 Recent Developments 100
13.5 Boston Scientific Corporation 101
13.5.1 Key Facts 101
13.5.2 Business Description 101
13.5.3 Key Product/Services Offerings 102
13.5.4 SWOT Analysis 103
13.5.5 Key Financials 103
13.5.5.1 Revenue Split 104
13.5.6 Recent Developments 104
13.6 Koninklijke Philips N.V. 105
13.6.1 Key Facts 105
13.6.2 Business Description 105
13.6.3 Key Product/Services Offerings 106
13.6.4 SWOT Analysis 106
13.6.5 Key Financials 107
13.6.5.1 Revenue Split 107
13.6.6 Recent Developments 108
13.6.7 Funding 108
13.7 Roche Holding AG 109
13.7.1 Key Facts 109
13.7.2 Business Description 109
13.7.3 Key Product/Services Offerings 110
13.7.4 SWOT Analysis 111
13.7.5 Key Financials 111
13.7.5.1 Revenue Split 112
13.7.6 Recent Developments 113
13.7.7 Funding 113
13.8 Siemens Healthineers AG. 114
13.8.1 Key Facts 114
13.8.2 Business Description 114
13.8.3 Key Product/Services Offerings 115
13.8.4 SWOT Analysis 115
13.8.5 Key Financials 116
13.8.5.1 Revenue Split 116
13.8.6 Recent Developments 117
13.9 Stryker Corporation 118
13.9.1 Key Facts 118
13.9.2 Business Description 118
13.9.3 Key Product/Services Offerings 119
13.9.4 SWOT Analysis 120
13.9.5 Key Financials 120
13.9.5.1 Revenue Split 121
13.9.6 Recent Developments 121
13.10 Oracle Corporation 122
1.1.1 Key Facts 122
1.1.2 Business Description 122
1.1.3 Key Product/Services Offerings 123
1.1.4 SWOT Analysis 124
1.1.5 Key Financials 124
1.1.6 Revenue Split 125
1.1.7 Recent Developments 125
Research Methodology
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