Global Artificial Intelligence (AI) Based Critical Care Market, By Offering (Hardware, Software, Services), Technology (Machine Learning, Context-Aware Computing, Natural Language Processing, Computer Vision, Speech Recognition, Querying Method), Application (Health Monitoring, Digital Consultation, Virtual Nurses, Precision Medicine, Drug Creation, Healthcare System Analysis, Medication Management, Others) – Industry Trends and Forecast to 2029.
Global Artificial Intelligence (AI) Based Critical Care Market Analysis and Size
The artificial intelligence (AI) based critical care market is expected to witness significant growth during the forecast period. In the healthcare industry, artificial intelligence is utilized to investigate the relationship between therapeutic approaches and patient outcomes. AI in healthcare has numerous uses in drug research, treatment regimens, and medication administration. It is employed in medical procedures like diagnosis, tailored medication, drug development, and patient care monitoring. The demand for AI in healthcare is primarily driven by the growth of the market for artificial intelligence in healthcare and the complexity of datasets and their volume.
Data Bridge Market Research analyses a growth rate in the artificial intelligence (AI) based critical care market in the forecast period 2022-2029. The expected CAGR of artificial intelligence (AI) based critical care market is tend to be around 30.30% in the mentioned forecast period. The market was valued at USD 7.0 billion in 2021, and it would grow upto USD 58.16 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Artificial intelligence is defined as an intelligent system that uses numerous human intelligence-based functions in fields including biology, computer science, mathematics, linguistics, psychology, and engineering. These functions include reasoning, learning, and problem-solving abilities. Artificial intelligence in the healthcare industry uses algorithms and software to assess intricate medical data.
Global Artificial Intelligence (AI) Based Critical Care Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Offering (Hardware, Software, Services), Technology (Machine Learning, Context-Aware Computing, Natural Language Processing, Computer Vision, Speech Recognition, Querying Method), Application (Health Monitoring, Digital Consultation, Virtual Nurses, Precision Medicine, Drug Creation, Healthcare System Analysis, Medication Management, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Nvidia Corporation (U.S.), IBM (U.S.), AiCure (U.S.), iCarbonX (China), Cyrcadia Health Inc. (U.S.), Atomwise, Inc. (U.S.), Pathway (U.S.)., SOPHiA GENETICS (Switzerland), Apixio, Inc. (U.S.), General Vision, Inc.(U.S.), Microsoft (U.S.), Intel Corporation (U.S.), DeepMind Technologies Limited (U.K.)
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Market Opportunities
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Global Artificial Intelligence (AI) Based Critical Care Market Dynamics
Drivers
- Emergence of New Innovative Technologies
The emergence of advanced hardware systems that help improve the efficiency and effectiveness of AI software is expected to drive market growth in the hardware segment. For instance, in 2016 Nvidia improved the efficiency of deep learning and introduced GPUs that are 20 to 50 times more efficient than CPUs.
- Government Initiatives
Government-backed initiatives, increased investment from private investors and venture capitalists, and the emergence of AI-focused start-ups around the world are driving market growth.
Opportunities
- Latest Developments
AI-based technology has seen significant growth in acceptance and dramatic growth. As the newest developments increases, the need for these AI based techniques increases. For instance, in August 2017, Penn Medicine developed a predictive solution using machine learning. In this solution, the system helps the system analyze a person's vital signs, predict the risk of sepsis, and identify the possibility of heart failure.
- Aids in Clinical Research
AI-based technology in clinical trials is rapidly gaining adoption. It is expected to boost market growth by reducing the time it takes to conduct clinical trials and improving the accuracy and reliability of clinical trials. This is expected to boost the chromatin immunoprecipitation sequencing market during the forecast period.
Restraints/Challenges
- Lack of skilled professionals
The lack of qualified personnel who are unable to use these AI techniques could curb the growth of the global AI based critical care market over a forecast period.
- High Cost
High cost of these techniques can hinder the growth of the global AI based critical care market even though the prevalence of the diseases are high.
This artificial intelligence (AI) based critical care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial intelligence (AI) based critical care market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Artificial Intelligence (AI) Based Critical Care Market
Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Its long-term repercussions are expected to influence industry growth during the forecast period.
The adoption of AI technologies is being driven by the growing need for healthcare providers, the need to reduce the rising costs of healthcare, the demand for value-based care, and the growing need to accurately and quickly diagnose and detect underlying health conditions in order to provide the best treatment plan as soon as possible.
Global Artificial Intelligence (AI) Based Critical Care Market Scope
The artificial intelligence (AI) based critical care market is segmented on the basis of offering, technology, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Hardware
- Software
- Services
Technology
- Machine Learning
- Context-Aware Computing
- Natural Language Processing
- Computer Vision
- Speech Recognition
- Querying Method
Application
- Health Monitoring
- Digital Consultation
- Virtual Nurses
- Precision Medicine
- Drug Creation
- Healthcare System Analysis
- Medication Management
- Others
Artificial Intelligence (AI) Based Critical Care Market Regional Analysis/Insights
The artificial intelligence (AI) based critical care market is analysed and market size insights and trends are provided by offering, technology, and application as referenced above.
The major countries covered in the artificial intelligence (AI) based critical care market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is the dominating market due to to advancements in healthcare IT infrastructure, growing care expenditures, widespread adoption of technologies, favorable government initiatives, and presence of several major market players.
Asia-Pacific expected to witness growth due to the rapid innovations and development in the IT infrastructure and entrepreneurship ventures specializing in AI-based technologies.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Artificial Intelligence (AI) Based Critical Care Market Share Analysis
The artificial intelligence (AI) based critical care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to artificial intelligence (AI) based critical care market
Key players operating in the artificial intelligence (AI) based critical care market include:
- Nvidia Corporation (U.S.)
- IBM (U.S.)
- AiCure (U.S.)
- iCarbonX (China)
- Cyrcadia Health Inc. (U.S.)
- Atomwise, Inc. (U.S.)
- Pathway (U.S.)
- SOPHiA GENETICS (Switzerland)
- Apixio, Inc. (U.S.)
- General Vision, Inc. (U.S.)
- Microsoft (U.S.)
- Intel Corporation (U.S.)
- DeepMind Technologies Limited (U.K.)
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