Report Overview

The European 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.

Artificial Intelligence has made life easier in all aspects. Healthcare is not an exception. Advances in medicine, supported by progress in public health, research, innovation and technology have significantly reduced morbidity and mortality. The healthcare sector is developing rapidly by making use of Artificial Intelligence to increase productivity while reducing the huge burden on healthcare workers.

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. Globally, government and private organizations are initiating the incorporation of Artificial Intelligence in their research endeavours to accelerate developments surrounding COVID-19 vaccines.

AI has gained significant traction during the pandemic from combining scientific papers on coronaviruses to searching CT scans for COVID-19 symptoms. The White House partnered with AI research institutions to mine scientific literature to better understand the disease. Even amid economic uncertainties due to COVID-19, Healthcare AI companies have gained numerous opportunities to thrive upon owing to the reason that they minimize human interaction, thus minimising the risk of transmission and shielding the frontline workers.

The UK is recognized for having advanced healthcare infrastructure. The NHS has been adopting various changes to enhance its services and offer patient control over their healthcare. Addenbrooke hospital in Cambridge is using Microsofts InnerEye system to automatically process scans for patients with prostate cancer. HeartFlows AI technology is also being used in the NHS to analyse CT scans of patients who are suspected coronary heart to have CHD and creates a personalised 3D model of the heart that shows the blood flow.

With further implementation of AI in healthcare, it is believed that health inequalities can be reduced where access to care is dramatically improved and quality and standards of care are continuously driven up as machines learn more about the conditions of the people they are treating. This offers numerous opportunities that opens the market for newer technological innovations in the field of healthcare in the UK.



Market Drivers

The market is majorly fuelled by growing government initiatives and their collaboration to promote implementation of AI in Healthcare. In addition to this, there is a rise in need to reduce healthcare costs at the same time, increase computing power by minimising hardware costs.

The market is driven by the increasing influx of large and complex healthcare datasets which can be simplified and analysed with Artificial Intelligence.

There is an imbalance between the healthcare workforce and the patients. Artificial Intelligence restores this balance, further fuelling the market growth. 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 in the country.

Type of Artificial Intelligence in Healthcare

The AI technologies that play an important role in healthcare are as follows:

1. Machine learning neural networks and deep learning


2. Natural language processing


3. Rule-based expert systems


4. Physical robots


5. Robotic process automation