North America Artificial Intelligence (AI) in Healthcare Market Significant Players, Trends in Future, Revenue, Application, Types, Scope Forecast

According to a new market research study on “North America Artificial Intelligence in Healthcare Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component, Application, and End User” is expected to reach US$ 44,057.97 million by 2027 from US$ 1,605.67 million in 2019. The market is estimated to grow at a CAGR of 50.1% from 2020 to 2027.

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The North American AI in healthcare market is divided into three key regions: the US, Canada, and Mexico. In 2019, the US held the largest share of the market. The growth of AI in healthcare across North America is driven by the evolving digital infrastructure in healthcare, a well-established healthcare sector, and growing patient awareness of the benefits of artificial intelligence. Additionally, the presence of several key players in the market is expected to further propel market growth. The adoption of digital tools in healthcare operations, aimed at improving quality and reducing costs, is also a significant factor driving the expansion of the AI healthcare market in the US and other North American countries. The US remains the largest market for AI in healthcare in North America, fueled by the increasing adoption of precision medicine, digital healthcare transformation, the rising prevalence of chronic diseases, and support from the federal government to implement digital solutions to reduce costs and enhance care quality.

The COVID-19 pandemic has had a devastating impact on North America, but AI has become an essential tool for public health experts in managing the crisis. AI is proving to be a powerful tool for tracking and handling the coronavirus pandemic in the US and globally. Several US institutions are either developing new AI technologies or leveraging existing ones to diagnose, monitor, and treat COVID-19. For example, HealthMap, an AI application developed by Boston Children’s Hospital, was one of the first tools to track the COVID-19 outbreak, allowing doctors to quickly triage patients to the appropriate level of care, even before a diagnosis was confirmed. Facebook AI has also partnered with academic researchers and specialists on various COVID-19-related initiatives. In October 2020, Facebook AI launched the COVID-19 Community Help Hub, where people could request assistance for patients. They also introduced an AI-powered matching feature to facilitate the quick and easy connection between those needing help and those offering it. The ability of AI to analyze large volumes of data quickly has proven invaluable during the pandemic, highlighting its significant potential in critical situations.

Key Companies in the North American AI in Healthcare Market:

  • Alphabet Inc.
  • Arterys Inc.
  • General Electric Company
  • Intel Corporation
  • Johnson & Johnson Services, Inc.
  • Koninklijke Philips N.V.
  • Microsoft Corporation
  • Nuance Communications, Inc.
  • NVIDIA Corporation

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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