North America Artificial Intelligence in Healthcare
Market Size a projected value of USD 8.9 Billion
by 2023. With a steady and predictable growth path, the market is anticipated
to attain a value of USD 114.2 Billion by 2033, demonstrating a steady Compound
Annual Growth Rate (CAGR) of 21% from 2024 to 2033.
Artificial intelligence (AI) in the healthcare sector refers to the application of advanced computer algorithms and machine learning techniques to better understand complex medical data, facilitate faster administrative processes, improve diagnosis, personalize treatment plans, and enhance overall patient care. This cutting-edge technology examines vast amounts of patient data, including medical records, images, genetic data, and clinical notes, in order to provide healthcare providers with insights, predictive analytics, and support in making decisions. Artificial intelligence (AI) improves the provision of healthcare by enabling customized therapies, enabling quicker and more accurate diagnostics, and eventually changing the effectiveness and efficiency of healthcare systems, which improves patient outcomes and experiences.
North America, artificial intelligence is being driven by a number of
significant variables in the healthcare sector. AI is developing quickly, and
tools like deep learning and machine learning are making it easier to
incorporate AI into healthcare systems and increase operational effectiveness,
patient customization, and diagnostic precision. The need for improved patient
outcomes and the growth of healthcare data volumes are driving the usage of AI.
The market is growing because of the desire to lower healthcare costs,
government initiatives that promote the sector, collaborations between tech
firms and healthcare providers, and other factors that foster innovation and
Market Size in 2023
USD 8.9 Billion
Market Forecast in 2033
CAGR % 2024-2033
Consumption, company share, company heatmap, company production capacity,
growth factors and more
By Application, By Technology , by End
User Segmentation, Country Outlook and By Region
adoption of electronic health records has generated vast amounts of data. AI
can be leveraged to analyze this data efficiently, leading to better patient
care, personalized medicine, and improved operational efficiency.
AI is being used to accelerate the drug discovery process. Machine learning models can analyze large datasets to identify potential drug candidates, predict their efficacy, and optimize the drug development pipeline.
AI-powered tools enable continuous monitoring of patients outside traditional healthcare settings. This can be especially beneficial for managing chronic conditions, providing real-time data to healthcare professionals and improving patient engagement.
North America Artificial Intelligence in Healthcare Industry: Dynamics & Restrains
Digitalization of Healthcare - Artificial
Intelligence (AI) in healthcare is growing faster in North America due to
the country's digitalization of the healthcare system. Massive amounts of
real-time patient data are produced by the integration of wearable technology,
IoT sensors, and electronic health records (EHRs). AI makes use of this flood
of digital data by using machine learning and advanced analytics to quickly and
reliably understand it. AI-powered solutions can improve patient outcomes,
streamline workflows, customize therapies, and improve diagnostics because to
this synergy. The need for AI is increased by the movement toward a
data-driven, more connected healthcare ecosystem, which promotes efficiency and
innovation in healthcare delivery across North America.
Rising Awareness and Acceptance - The healthcare industry in North
America is becoming more and more aware of and accepting of Artificial
Intelligence (AI), which is crucial for artificial intelligence in healthcare
market growth. Patients' and healthcare professionals' acceptance of AI is
rising as more people become aware of its potential to transform operational
efficiency, personalized therapy, and diagnostics. Adoption of these
technologies is increasing as confidence in AI-driven solutions that show
better patient outcomes and fewer errors develops. This changing view
encourages cooperation among stakeholders who actively look for and invest in
AI solutions, which drives innovation and the broad application of AI in
various aspects of North American healthcare.
Data Privacy and Security Concerns - The development of North America
Artificial Intelligence in Healthcare Market is severely hampered by worries
about data security and privacy. Because patient data is sensitive, there is a
need for strict compliance with regulatory frameworks such as HIPAA due to
concerns about potential breaches and misuse. Robust regulations pertaining to
data protection erect obstacles in the way of smooth data exchange and
compatibility between AI systems and current healthcare infrastructures. Rapid
adoption of AI decision-making algorithms is impeded by elevated apprehensions
about unapproved access, data breaches, and moral quandaries related to these
algorithms. In order to foster trust and enable the broad use of AI in
healthcare across North America, resolving these problems necessitates taking
strong steps, such as sophisticated encryption, compliance adherence, and
transparent AI protocols.
North America Artificial Intelligence in Healthcare Segmentation
Market- By Type of Diabetes Analysis
By Application, the North America Artificial Intelligence in Healthcare Market is Categories into Virtual Assistants, Diagnosis, Robot Assisted Surgery, Clinical Trials, Wearable, Others. The Diagnosis segment accounts for the largest share of around 24% in 2022.
The majority of the artificial
intelligence in healthcare Market is now accounted for by the diagnosis
segment, owing to advancements in data analysis techniques and medical imaging,
increasing demand for accurate and rapid disease detection, the development of
AI-powered image recognition and pattern recognition tools, and a focus on
customized treatment and precision healthcare.
following segments are part of an in-depth analysis of North America Artificial
Intelligence in Healthcare Market:
Natural Language Processing
North America Artificial Intelligence in Healthcare Market Analysis Report
provides a comprehensive analysis of the market. The report discusses market
segmentation, DROS, and the product portfolios of the key market player
companies in the North America. It also provides the launch or research of new
drugs, moreover advancements in the sector including collaborations, mergers,
and acquisitions, as well as the impact of the COVID-19 pandemic on the market.
The study also offers insights into market trends and an analysis of industry
North America Artificial Intelligence in Healthcare Market is dominated by a
few large companies, such as
IBM Watson Health
Amazon Web Services (AWS)
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An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
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North America Artificial Intelligence in Healthcare Market was valued at USD 7.1 Billion in 2022.
North America Artificial Intelligence in Healthcare Market size will increase at approximate CAGR of 21% during the forecasted period.
Major companies operating within the North America Artificial Intelligence in Healthcare Market are IBM Watson Health, GE Healthcare, Google Health, Microsoft Healthcare, Siemens Healthineers, NVIDIA Corporation, Cerner Corporation, Philips Healthcare, Amazon Web Services (AWS), Healthcare, AiCure and Other.
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