EU AI in Healthcare Market: Segmented by Product (AI Integrated Hardware, Software and Services), by Technology (Machine Learning, Natural Language Processing, Context Aware Computing and Computer Vision), by End Use Application (Patient data and risk analysis, Inpatient care and hospital management, Medical imaging and diagnostics, Lifestyle management and remote patient monitoring, Virtual Assistants, Drug discovery, Research, Healthcare Assistance Robots, Precision medicine, Emergency room and surgery, Wearables, Mental Health and Cybersecurity) and by End User (Hospitals and healthcare providers, patients, Pharmaceuticals and Biotechnological companies, Healthcare payers and others)- Growth, Trends, and Forecasts (2020 2028)
- Published Date: 2022-12-13
- Report ID: 141688
- Pages: 200
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Format:
Report Overview
The EU AI in Healthcare market size was valued at USD 2.04 billion in 2020 and is forecasted to reach the market size of USD 50.42 billion by 2028, expanding at a compound annual growth rate (CAGR) of 49.3% during the forecast period.
The AI in healthcare market in Europe region has occupied the second highest position in the global scenario. Healthcare systems across the EU face increasing demand as longevity increases, with one in four people in Europe estimated to be over the age of 65 by 2050. At the EU level, a more robust data infrastructure us being pushed to ensure that the healthcare systems can share data which would enable tracking and diagnosing diseases quickly and efficiently.
AI has various applications in healthcare. It enables medical practitioners to retrieve information, interpret images acquired during scans and make treatment plans for the medical procedures.
In addition to the clinical aspect, Artificial Intelligence is also proving beneficial in research activities. European Government and private organizations are initiating the incorporation of Artificial Intelligence in their research endeavours to accelerate developments surrounding COVID-19 vaccines. The COVID-19 outbreak has significantly promoted the implementation of remote health check-ups using digital tools, delivering clinical services to patients over distance rather than in-person.
Market Drivers
The market is driven by the increasing influx of large and complex healthcare datasets for which Artificial Intelligence applications are required.
In addition to this, there is a rise in investment in AI Healthcare Start-ups in the European region. Escalating cross-industrial partnerships and collaborations in the field of AI in healthcare also propels the market towards growth.
In addition to this, the market is fuelled by growing government initiatives to promote implementation of AI in Healthcare.
Increase in use of precision medicines and clinical trial processes demands the deployment of Artificial Intelligence which further propels the market. Increased funding for Research and Development in the field contributes to the growth of the market. It is also driven by the ongoing COVID-19 pandemic.
Type of Artificial Intelligence in Healthcare
The AI technologies that play an important role in healthcare are as follows:
- Machine learning neural networks and deep learning
- Natural language processing
- Rule-based expert systems
- Physical robots
- Robotic process automation
The most common form of AI is Machine Learning which is a statistical technique for fitting models to data and to learn by training models with data.
1. EU AI in Healthcare Market Overview...................................................
A. Market Size
2. Market Growth Drivers .
A. Influx of large and complex healthcare datasets
B. Rise in AI Healthcare start-ups
C. Escalating cross-industrial partnerships and collaborations
D. Growing Government initiatives
E. Increase in use of Precision Medicine and clinical trials
F. Increased R&D Funding
G. COVID-19 Pandemic
3. Types of AI related to healthcare........................................................................
A. Machine learning neural networks and deep learning
B. Natural language processing
C. Rule-based expert systems
D. Physical robots
E. Robotic process automation
4. EU AI in Healthcare Market Segmentation......................................
A. Product
I. AI Integrated Hardware
II. Software
III. Services
B. Technology
I. Machine Learning
II. Natural Language Processing
III. Context Aware Computing
IV. Computer Vision
C. End Use Application
I. Patient data and risk analysis
II. Inpatient care and hospital management
III. Medical imaging and diagnostics
IV. Lifestyle management and remote patient monitoring
V. Virtual Assistants
VI. Drug discovery
VII. Research
VIII. Healthcare Assistance Robots
IX. Precision medicine
X. Emergency room and surgery
XI. Wearables
XII. Mental Health
XIII. Cybersecurity
D. End User
I. Hospitals and healthcare providers
II. Patients
III. Pharmaceuticals and Biotechnological companies
IV. Healthcare Payers
V. Others
5. AI Major Products Market Share..............................
A. Market Analysis, Insights and Forecast By Revenue
6. Competitive Landscape...
A. Major Players
7. Key Company Profiles..
8. Healthcare Policies and Regulatory Landscape...
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth....
A. New Trends and Development of EU AI in Healthcare market
B. Future Opportunities
10. Conclusion.............................................................................................................
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