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2022 Statistics: U.S. and Global Artificial Intelligence (AI) in Healthcare Market Size Will Surpass USD 95.65 Billion at 46.1% CAGR Growth: Vantage Market Research

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WASHINGTON, Jan. 17, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Artificial Intelligence in Healthcare Market finds that rising number of partnerships and collaborations is expediting market growth. Primarily driven by rising potential of AI technology in genomics and drug discovery, the total Global Artificial Intelligence in Healthcare Market is estimated to reach USD 95.65 Billion by 2028, up from USD 6.60 Billion in 2021, at a compound annual growth rate (CAGR) of 46.1%.

Furthermore, the surging need for improvised healthcare services due to imbalance between health workforce and patients is also anticipated to augment the growth of the Global Artificial Intelligence in Healthcare Market, states Vantage Market Research, in a report, titled “Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), by Technology (Machine Learning, NLP, Context-aware Computing, Computer Vision), by Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection), by End User (Healthcare Providers, Pharmaceutical & Biotechnology Companies, Patients, Payer), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

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Our Free Sample Reports Includes:

  • In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
  • Impact Analysis 170+ Pages Research Report (Including latest research)
  • Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
  • Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using VMR research methodology.

(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)

List of Prominent Players in the Artificial Intelligence in Healthcare Market:

  • Koninklijke Philips (Netherlands)
  • Intel (US)
  • Microsoft (US)
  • Nvidia (US)
  • IBM (US)
  • Siemens Healthineers (Germany)
  • Medtronic (US)
  • Micron Technology (US)
  • Google (US)
  • General Electric Company (US)
  • General Vision (US)
  • Amazon Web Services (US)
  • Johnson & Johnson (US)
  • Enlitic (US)
  • Lunit (South Korea)
  • CloudmedX (US)
  • Oncora Medical (US)

Market Dynamics:

Driver: Rising Potential of AI Technology in Genomics and Drug Discovery to Fuel Global Artificial Intelligence in Healthcare Market

AI applications in clinical genomics liable to perform operations that are not possible to perform with the help of human intelligence and are error prone when applied with standard statistical approaches. The various steps that are adapted to address in clinical genomic analysis include variant calling, variant classification, genome annotation, and phenotype-to-genotype correspondence. They can also be used in genotype-to-phenotype predictions. Here, we describe the major classes of problems that have been addressed by AI in clinical genomics. AI algorithms can easily learn biases from a single genome and produce superior variant calls. Furthermore, AI is widely used in target discovery and early drug discovery in order to analyze data sets, form hypotheses and generate novel insights, predict binding affinity and other pharmacological properties of molecules, allow filtering for drug-like properties of molecules and reduce complexity in protein design. Additionally, it is used in design and processing of preclinical experiments to reduce time, money, and uncertainty in planning experiments, decode open- and closed-access data on reagents and get actionable insights and automate sample analysis with a robotic cloud laboratory, among others. Thus, the increasing application of AI is augmenting the growth of the AI in healthcare industry in the years to come.

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Opportunity: Development of Human-aware AI Systems to Stimulate Market Growth

Human-aware augmented intelligence combines the skills of humans and artificial intelligence (AI) techniques. This helps to achieve better performance over either the human or the technology alone. Additionally, the increasing interference of human with AI techniques has resulted in interpretation and presentation challenges like proper communication problems associated with automating parts and intelligent control of crowdsourcing parts. Interpretation challenges include understanding human input and presentation challenges include problems delivering the AI system’s output and feedback. Thus, the improvement of human-aware AI systems remains the primary opportunity for AI developers and healthcare industry. Furthermore, in the healthcare sector, it is very useful in monitoring patients, help in analysis, diagnosis and create treatment plans personalized to the individual, and deliver care for the elderly and disabled people, among other prospects.

Segment Summary:

  • Based on offering, the Global Artificial Intelligence in Healthcare Market is bifurcated into software, hardware, & services. The software segment held a largest share in 2021 owing to the increase in the adoption of AI software solutions by healthcare organizations.
  • Based on technology, the Artificial Intelligence in Healthcare Market is divided into machine learning, computer vision, natural language processing, and context aware processing. The natural language processing segment is expected to grow at a significant CAGR from 2022 to 2028. This is attributable to the increase in implementation of image recognition and data mining to uncover abnormalities in imaging data and accelerate the treatment.
  • Based on application, the Artificial Intelligence in Healthcare Market is divided into robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and others. The clinical trials participant identifier projected to grow at the fastest CAGR from 2022 to 2028. This is owing to the increase in demand for faster clinical trials for new drug development.
  • Based on end user, the artificial intelligence in healthcare market is segmented into healthcare providers, pharmaceutical & biotechnology companies, patients, and payer. The healthcare providers segment held the largest share in 2021. The pharmaceutical & biotechnology companies’ segment is anticipated to grow at a fastest CAGR from 2022 to 2028.

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/artificial-intelligence-in-healthcare-market-1141

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2021 & 2022
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

 The report on Artificial Intelligence in Healthcare Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

North America Dominates the Global Artificial Intelligence in Healthcare Market

North America has dominated the Global Artificial Intelligence in Healthcare Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the early adoption of AI technologies, growing collaborations and partnerships, and supportive government initiatives across the region. Furthermore, the presence of major market players and the rising elderly population are also expected to support the regional growth of the market.

Asia Pacific is likely to witness fastest growth in the Artificial Intelligence in Healthcare Market during the forecast period. This is attributable to the rise in development and innovations and establishment of new start-ups in the emerging economies like the India, and China in the region. Additionally, the increasing adoption of AI-based technologies by healthcare organizations, Research and Development activities and government expenditure on healthcare facilities are also expected to support the growth of the artificial intelligence in healthcare market in near future.

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Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?
  • Which are the top five players of the Artificial Intelligence in Healthcare Market?
  • How will the Artificial Intelligence in Healthcare Market change in the upcoming six years?
  • Which application and product will take a lion’s share of the Artificial Intelligence in Healthcare Market?
  • What are the Artificial Intelligence in Healthcare market drivers and restrictions?
  • What will be the CAGR and size of the Artificial Intelligence in Healthcare Market throughout the forecast period?

This market titled “Artificial Intelligence in Healthcare Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Report Attribute Details
Market Size in 2021 USD 6.60 Billion
Projected Market Size in 2028 USD 95.65 Billion
CAGR Growth Rate CAGR of 46.1% from 2022–2028
Base Year 2021
Historic Years 2016 – 2020
Forecast Years 2022 – 2028
Segments Covered Offering:- Hardware, Software, Services

Technology:- Machine Learning, NLP, Context-aware Computing

Application:- Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance

End User:- Healthcare Providers, Pharmaceutical & Biotechnology Companies, Patients

Quantitative Data – Units Revenue in USD Million/Billion and CAGR from 2022 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Browse market data Tables and Figures spread through 187 Pages and in-depth TOC on “Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), by Technology (Machine Learning, NLP, Context-aware Computing, Computer Vision), by Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection), by End User (Healthcare Providers, Pharmaceutical & Biotechnology Companies, Patients, Payer), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”. View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/artificial-intelligence-in-healthcare-market-688853

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Artificial Intelligence

Invoca Wins CX Today Award for Best Conversational Intelligence Solution of 2024; Launches European Data Centre and Adds UK Sales Leader

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CX Today recognises Invoca as the foremost visionary in the Conversational Intelligence category. Additionally, expands its European presence with a new Data Centre and the appointment of Duncan MacPherson as UK Director of Sales.
LONDON, March 28, 2024 /PRNewswire/ — Invoca, the leading revenue execution platform for revenue teams, has won the CX Today Award for ‘Best Conversational Intelligence Solution’ of 2024. CX Today, the leading international news publication honouring excellence in CX technology, hosted the CX Awards to honour excellence in CX leadership, technology innovation, and industry success.

“Invoca’s exceptional work in conversational intelligence has helped push the category forward, and we are thrilled to see their accomplishments acknowledged at CX Awards 2024,” said Charlie Mitchell, Senior Editor at CX Today and host of the awards.
The award recognises Invoca’s strength in empowering revenue teams across marketing, contact centre sales, and customer experience to enhance buying experiences, increase high-value leads, and boost revenue. For businesses that acquire customers over the phone, Invoca enables these digital marketing and contact centre teams to collaborate to drive revenue growth. Invoca stands out for capturing deep insights from consumer calls and digital interactions and ingesting revenue driven by calls and other metadata from CRM and contact centre solutions, making Invoca the source of truth for consumer engagements.
“We’re thrilled to be named the Best Conversational Intelligence Solution of 2024 by CX Today as we highlight our longstanding vision to help brands acquire customers and grow their revenue,” said Gregg Johnson, CEO of Invoca. “As AI pioneers in this space, having first introduced our broad base of patented AI technologies in 2015, artificial intelligence and machine learning are core to helping companies improve the customer experience and connect the buyer journey.”
The CX Awards’ judging panel, including Dan Miller, Lead Analyst at Opus Research, reviewed hundreds of applications for their organisation’s ability to improve overall customer experience through innovation and high-impact features.
“Invoca continues to demonstrate that they are a clear leader in conversational intelligence AI. We recognised Invoca for their ability to employ a sophisticated blend of AI technologies — including patented machine learning, generative AI, voice biometrics, and deep learning neural networks, to drive revenue,” said Dan Miller, CX Awards judge and Lead Analyst at Opus Research.
Invoca Launches New European Platform and Data Centre Amid U.K. Sales Leadership Expansion
Invoca continues to reinforce its commitment to maintaining data excellence with unwavering reliability and strict adherence to security standards. Protecting customer data privacy remains a top priority, particularly given the heightened concerns surrounding security and privacy. Invoca’s new European platform and localised data centres support its growing customer base by ensuring all customers can adhere to the highest level of enterprise-grade data privacy, and GDPR compliance standards. Invoca’s powerful EU-based infrastructure enables its customers to recreate the same Invoca experience using the full feature suite while maintaining the highest standards of quality.
Invoca has also welcomed Duncan MacPherson as UK Director of Sales. MacPherson brings extensive experience with large companies and start-ups selling customer engagement solutions. This is part of an overall expansion in the UK market, which includes hiring a localised sales and customer success team, sales development, and marketing support.
More Information:
See the results you can get with Invoca’s award-winning conversation intelligence: https://www.invoca.com/customersInvoca’s GDPR Compliance: Everything You Need to Know: https://www.invoca.com/blog/invocas-gdpr-compliance-everything-you-need-to-knowWatch the CX Today Awards winners revealed on demand: www.cxtoday.com/cxawardsJoin Invoca’s talented team today: https://www.invoca.com/company/careersAbout InvocaInvoca is a revenue execution platform that connects marketing and sales teams to help them track and optimise the buying journey to drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
About CX AwardsHosted by CX Today, the awards ceremony has become the beacon of recognition for companies and professionals pushing the envelope in the CX technology sphere.
The CX Awards 2024 is here for its fourth year and is bigger and better than ever before! Winners of the 2023 awards included Vonage, Calabrio, and UJET and more. Then, the ceremony included exclusive streams from our people winners, Jay Patel from Webex and Kimberley Wood from Ultimate. Yet, this year’s event featured many more CX leaders who shared their unique takes on the space.
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ASC Achieves Certification for Webex Calling

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ASC announces compliance recording and AI-driven analytics tool for Webex Calling
HÖSBACH, Germany, March 28, 2024 /PRNewswire/ — ASC Technologies, a leading provider of comprehensive recording and analytics tools, announces its successful certification for Webex Calling with Webex by Cisco, a leading provider of collaboration technologies powering hybrid work and customer experience. This certification distinguishes ASC as one of the few global vendors who are authorized to provide record capabilities for Webex Calling communications. This capability is essential for organizations in regulated industries that must adhere to strict compliance standards.

A key benefit of the ASC solution is the simple and fast configuration in the Webex Control Hub, which ensures a high level of user-friendliness. In addition, ASC enables the migration of on-premise solutions to the cloud by seamlessly transferring recordings to the cloud environment. This step enables organizations to accelerate their digital transformation and take advantage of cloud-based services. In addition, AI-driven analytics, powered by ASC’s solutions, help organizations gain a comprehensive view of their communications, enrich customer relationships, and streamline compliance and risk management processes.
“As a stable company that has been established in the market for 60 years, we see the certification for Webex Calling not only as a confirmation of our technological expertise, but also as a promise to our customers and partners,” says Dr. Gerald Kromer, CEO of ASC. “We are committed to providing innovative and reliable solutions that meet the demands of today’s communications technologies while ensuring our customers’ compliance requirements.”
This certification is a further milestone in ASC’s successful partnership with Cisco, which has already existed for 20 years. ASC will be exhibiting at Enterprise Connect in Gaylord Palms, and Cisco Live in Las Vegas, showcasing its innovative recording and analytics solutions and demonstrating the results of its collaboration with Cisco. These events offer a glimpse into how ASC’s solutions drive efficiency and insight.
About ASC
ASC is a worldwide leading provider of software and cloud solutions in the field of omni-channel recording, quality management, and analytics. Among our target groups are all companies that record their communications, especially financial service providers, contact centers, and public safety organizations. We offer solutions for recording as well as AI-based analysis and evaluation of all communications – with full flexibility as a cloud service, on-premise or as a hybrid solution. Headquartered in Germany with subsidiaries in 14 countries and experienced system integration partners in over 60 countries, ASC is the #1 Europe-based player in its industry.
About Webex by Cisco
Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, customer experience solutions like contact center and purpose-built collaboration devices. At Webex, we start with people and their experiences first. This focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality, and familiarity with technology. Our solutions are underpinned with security and privacy by design. We work with the world’s leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.
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WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

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TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”
Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.
Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.
Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.
“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”
Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.
Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.
About WSPN
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.
Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.
Learn more: www.wspn.io  | Twitter | LinkedIn 
About MathWallet
MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.
Visit mathwallet.org for more information.
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