North America Artificial Intelligence (AI) in Healthcare Market Key Details and Outlook by Top Companies till 2027
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The Artificial intelligence in healthcare market in North America is expected to grow from US$ 1,605.67 million in 2019 to US$ 44,056.97 million by 2027; it is estimated to grow at a CAGR of 50.1% from 2020 to 2027. Cross-industry partnerships are resulting... moreNorth America Artificial Intelligence (AI) in Healthcare Market Key Details and Outlook by Top Companies till 2027
Get Full Report: https://www.businessmarketinsights.com/reports/north-america-artificial-intelligence-ai-in-healthcare-market
The Artificial intelligence in healthcare market in North America is expected to grow from US$ 1,605.67 million in 2019 to US$ 44,056.97 million by 2027; it is estimated to grow at a CAGR of 50.1% from 2020 to 2027. Cross-industry partnerships are resulting into the introduction of new machine learning models that predict risk and provide cognitive assistance. AI is mostly applied in the clinical trials to obtain accurate and valuable output. For instance, the AI-based tools, such as clinical decision support systems and voice recognition software, help streamline workflow processes in hospitals and improve medical care, thereby enhancing the patient experience. Cross-sector partnerships are among the most dynamic practice within corporate and society relations that bridge various sectors, such as public, private, and nonprofit. Therefore, the rising number of cross-industry partnerships is projected to improve AI adoption in the healthcare sector, which propels the market growth.
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The List of Companies
Alphabet Inc.
Arterys Inc.
General Electric Company
Intel Corporation
Johnson and Johnson Services, Inc.
Koninklijke Philips N.V.
Microsoft Corporation
Nuance Communications, Inc.
NVIDIA CORPORATION
Siemens Healthineers AG
North America AI in Healthcare Market Overview
The North American AI in healthcare market is segmented into the US, Canada, and Mexico, with the US holding the largest market share in 2019. The region's market growth is driven by advancements in digital healthcare infrastructure, a well-established healthcare sector, and increasing patient awareness of AI benefits. Additionally, the presence of key industry players and the adoption of digital tools to enhance healthcare quality while reducing costs further contribute to market expansion.
In North America, the US remains the dominant market for AI in healthcare, fueled by the rise of precision medicine, the digital transformation of healthcare, a growing prevalence of chronic diseases, and strong federal government support for AI-driven solutions. The integration of artificial intelligence into healthcare operations continues to accelerate, making it a crucial factor in the market's expansion across the region.
Impact of COVID-19 on AI in Healthcare
The COVID-19 pandemic has significantly affected North America, underscoring the value of AI in public health. AI has emerged as a vital tool for monitoring and managing the pandemic, helping experts keep the public informed and safe. In the US, various institutions are leveraging AI to diagnose, track, and treat COVID-19.
For instance, Boston Children's Hospital developed HealthMap, an AI-powered application that was among the first tools to detect the COVID-19 outbreak. This innovation enabled early patient triaging, even before confirmed diagnoses. Similarly, Facebook AI collaborated with academic researchers and specialists on multiple COVID-19 initiatives. In October 2020, Facebook AI launched the COVID-19 Community Help hub, providing a platform for people to offer assistance. The hub also introduced an AI-driven matching feature to facilitate quick and efficient support connections. AI’s ability to rapidly analyze vast amounts of data has proven to be a game-changer in handling the pandemic.
Strategic Insights: North America AI in Healthcare
Strategic insights into the North American AI in healthcare market provide data-driven analysis of industry trends, key players, and regional dynamics. These insights enable businesses to differentiate themselves by identifying untapped opportunities and developing unique value propositions. By leveraging data analytics, industry stakeholders—including investors and manufacturers—can anticipate market shifts and make informed, future-oriented decisions.
A proactive approach is essential for maintaining a competitive edge in this evolving landscape. By understanding market trends and adapting strategies accordingly, businesses can position themselves for long-term success. Ultimately, strategic insights empower stakeholders to drive profitability and achieve their objectives within the North American AI healthcare sector.
Regional Insights: North America AI in Healthcare
The geographic scope of the North American AI in healthcare market plays a crucial role in shaping business strategies. Understanding regional variations—such as differing consumer preferences, economic conditions, and regulatory landscapes—is essential for market success.
Businesses can expand their reach by identifying underserved areas or tailoring their offerings to meet specific local demands. A focused market strategy allows for better resource allocation, targeted marketing campaigns, and stronger competitive positioning. By aligning with regional dynamics, businesses can enhance their growth potential and establish a firm foothold in the North American AI healthcare market.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
