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 Collaborations and AI in Healthcare
Cross-industry partnerships are driving the development of new machine learning models that enhance risk prediction and offer cognitive support. In healthcare, AI is primarily applied in clinical trials to generate accurate and valuable insights. Tools like clinical decision support systems and voice recognition software streamline hospital workflows, improving care delivery and the overall patient experience. These cross-sector collaborations—spanning public, private, and nonprofit domains—are becoming a vital force in boosting AI adoption in healthcare, ultimately fueling North America Artificial Intelligence (AI) in Healthcare Market growth.
North America Artificial Intelligence (AI) in Healthcare Market Overview: North America
The North America Artificial Intelligence (AI) in Healthcare Market is segmented into the US, Canada, and Mexico, with the US holding the largest share as of 2019. The market's growth is driven by a strong digital healthcare infrastructure, a well-developed healthcare system, and growing patient awareness of AI's benefits. Key players in the region and increasing integration of digital tools to enhance care quality while reducing costs also contribute to this expansion.
In the US, growth is fueled by the rise of precision medicine, digital transformation of healthcare, a high burden of chronic diseases, and supportive government initiatives aimed at reducing healthcare costs and improving care delivery. These factors collectively make the US the leading market for AI in healthcare within North America.
Impact of COVID-19 on North America Artificial Intelligence (AI) in Healthcare Market
The COVID-19 pandemic had a profound effect across North America, further accelerating AI adoption in healthcare. AI has proven to be a critical tool for public health officials, helping monitor, manage, and communicate pandemic-related information. In the US, institutions have rapidly adopted or enhanced AI technologies for diagnosing, tracking, and treating COVID-19. For example, Boston Children's Hospital developed HealthMap, an AI tool that was among the first to detect the outbreak and assist in patient triage even before test results confirmed infections.
Additionally, Facebook AI partnered with researchers and experts to support COVID-19 initiatives. In October 2020, they launched the COVID-19 Community Help hub with an AI-powered feature to quickly connect people in need with those offering assistance. AI's ability to process and analyze vast data sets rapidly has demonstrated its immense value during the pandemic and continues to shape the future of healthcare in North America.
North America Artificial Intelligence (AI) in Healthcare Market Segmentation
North America Artificial Intelligence (AI) in Healthcare Market –By Component
- Software Solution
- Hardware
- Service
North America Artificial Intelligence (AI) in Healthcare Market – By Application
- Robot Assisted Surgery
- Virtual Assistants
- Administrative Workflow Assistants
- Connected Machines
- Diagnosis
- Clinical Trials
- Fraud Detection
- Cybersecurity
- Dosage Error Reduction
- Others
North America Artificial Intelligence (AI) in Healthcare Market – By End User
- Hospitals & Healthcare Providers
- Patients
- Pharma & Biotech Companies
- Healthcare Payers
- Others
North America Artificial Intelligence (AI) in Healthcare Market – By Countr
- US
- Canada
- Mexico
North America Artificial Intelligence (AI) in Healthcare Market – Company Profiles
- 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
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Author's Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights