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Artificial Intelligence (AI) in Healthcare Market worth $148.4 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Feb. 5, 2024 /PRNewswire/ — The AI in Healthcare market is projected to grow from USD 20.9 billion in 2024 and is estimated to reach USD 148.4 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 48.1% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the AI in Healthcare market is driven by the growing need for improvised healthcare services due to the imbalance between the healthcare workforce and patients; improving computing power, and declining hardware cost.

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Browse in-depth TOC on “Artificial Intelligence (AI) in Healthcare Market” 250 – Tables65 – Figures280 – Pages
Artificial Intelligence (AI) in Healthcare Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 20.9 billion
Estimated Value by 2029
$ 148.4 billion
Growth Rate
Poised to grow at a CAGR of 48.1%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Offering, Technology, Application, End User & Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Lack of curated healthcare data
Key Market Opportunities
The growing potential of AI-based tools for elderly care
Key Market Drivers
Generation of large and complex healthcare datasets
By offering, the services are projected to grow at a high CAGR of AI in the healthcare market during the forecast period.
AI plays a pivotal role across diverse healthcare applications, necessitating the implementation of sophisticated algorithms for tasks ranging from patient data analysis to drug discovery. Its applications span patient care, risk analysis, lifestyle management, precision medicine, medical imaging, and more. Successful AI deployment hinges on comprehensive services such as deployment, integration, and ongoing support and maintenance. Key players in the AI services in the healthcare market, including Microsoft, Johnson & Johnson Services, Medtronic, Siemens Healthineers, and Koninklijke Philips, offer a spectrum of support services. These encompass online and offline assistance, installation, training, and post-maintenance, ensuring seamless integration and optimal functioning of AI systems in the dynamic healthcare landscape.
Machine learning technology in AI in healthcare market is expected to account for the largest share during the forecast period.
Machine learning revolutionizes computing by training systems to learn from data without explicit programming. Instead of predefined instructions, machine learning relies on algorithms to discern patterns and relationships in data, enhancing accuracy and performance with increased exposure to information. Key attributes include data-driven processes, adaptability to new data, and the absence of explicit programming. In healthcare, machine learning intersects with AI, offering transformative applications. It aids in medical diagnosis and imaging by detecting diseases in early stages through image analysis and predicting risks based on electronic health records. Additionally, it accelerates drug discovery, optimizes administrative tasks, and enhances public health initiatives by tracking outbreaks and identifying high-risk individuals. Despite its potential, challenges like data privacy, algorithmic bias, and ethical considerations underscore the importance of careful integration and human oversight in the evolving healthcare landscape shaped by machine learning.
Medical Imaging & Diagnostics segment will account for highest CAGR during the forecast period.
AI is reshaping medical imaging and diagnostics, steering in a new era of precision and efficiency. By employing super-resolution techniques, AI reconstructs lower-resolution medical images into highly detailed visuals, aiding in more accurate diagnoses. Automated image analysis and detection capabilities enable AI algorithms to swiftly identify abnormalities, such as tumors or fractures, streamlining the diagnostic process. Moreover, AI’s role in personalized medicine is pivotal, predicting disease risks and treatment responses, and even assisting in surgical planning. This transformative technology enhances the accuracy of diagnoses and contributes to more efficient workflows, improved accessibility to diagnostics, and the potential for personalized treatment strategies.
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Asia Pacific will account for the highest CAGR during the forecast period.
The increasing geriatric population in Asia Pacific countries is one of the major drivers for the growth of the AI in healthcare industry. According to the United Nations ESCAP report 2023 a significant demographic shift in Asia and the Pacific, projecting that the older population will surpass 1.3 billion by 2050, doubling from 630 million in 2020. In 2020, 13.6% of the region’s population was aged 60 or above, a figure expected to rise to one-quarter by 2050. According to the National Library of Medicine, 2023. In 2017, the Asia-Pacific region had 9.8% of its total population comprised of older adults. Projections indicate a rise to 13.7% by 2030 and a further increase to 20.3% by 2050. Notably, Japan, China, and Hong Kong are poised to lead globally with the highest percentage of individuals aged 80 and above.
Key Players
Key companies operating in the AI in healthcare companies are Koninklijke Philips N.V. (Netherlands), Microsoft (US), Siemens Healthineers AG (Germany), Intel Corporation (US), NVIDIA Corporation (US), Google Inc. (US), GE HealthCare Technologies Inc. (US), Oracle (US), and Johnson & Johnson Services, Inc. (US) among others.
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/artificial-intelligence-healthcare-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/artificial-intelligence-healthcare.asp
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CNEC Global Leap Program Debuts in Barcelona, Highlighting Seven Tech Leaps to Accelerate Intelligence

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BARCELONA, Spain, Feb. 28, 2024 /PRNewswire/ — Cloud Native Elite Club (CNEC) hosted a successful seminar titled “Leap with Cloud Native x AI” at MWC Barcelona 2024. Over 50 industry leaders and experts gathered to explore cutting-edge trends in technology and innovation for 2024, sharing valuable insights and practices of cloud native and AI applications.

Seven Technical Leaps to Accelerate Intelligence Across Industries
Bruno Zhang, Huawei Cloud CTO, emphasized the critical role of cloud native and AI technologies as driving forces for industry transformation in the intelligent era.
He listed seven key technical leaps for intelligent upgrades across industries:
Architecture: from CPU-centric primary/secondary to heterogeneous peer-to-peer architecture;Compute: from general-purpose to AI compute;Storage: from data lake to AI-Native storage;Data-AI convergence: from “Data+AI” to “Data4AI/AI4Data”;Application development: from full/low/zero code to AI-assisted/self programming;Media technology: from shooting to computing and from production to generation;Security: from cyber and information security to a zero trust approach Taylor Dolezal, Head of the CNCF Ecosystem, emphasized cloud native technologies as the backbone for AI Infrastructure, highlighting its potential to accelerate industry-wide AI adoption. “CNCF boasts numerous projects utilized by leading AI companies like OpenAI, providing the essential technological infrastructure for generative AI,” Dolezal stated. “Furthermore, cloud native projects like K8sGPT exemplify how we can leverage the advanced natural language processing capabilities of generative AI and the power of Kubernetes to drive industry innovation.”
“Cloud computing nurtures the innovation and development of AI models,” said Li Wei, Deputy Director of Cloud Computing and Big Data Research Institute at China Academy of Information and Communications Technology (CAICT). “Cloud computing offers flexible, scalable, and efficient support for these models, reducing costs and improving efficiency,” Li explained. “It also provides a user-friendly platform for model development, deployment, and utilization.”
Ms. Li highlighted the emergence of Large Model Cloud Services as a new paradigm in the cloud computing landscape. She emphasized the importance of establishing industry standards. “The standards framework for large model cloud service consists of four layers: infrastructure, models, services, and applications. This framework aims to standardize and operationalize Large Model Cloud Service with a well-structured industry system.”
Building a Solid Cloud Foundation for Data-AI Innovation and New Data Value
The seminar featured presentations from Huawei Cloud representatives and various industry leaders showcasing innovative practices across diverse sectors. They shared insights on leveraging cloud technology to accelerate data-AI innovation.
Iñaki Fuentes, COO of TravelgateX, presented their successful cloud native transformation journey with Huawei Cloud. By adopting containers and microservices, they achieved significant improvements: efficiently processing over 6 billion daily hotel searches, reducing cloud costs by 20%, enhancing performance by over 35%, and streamlining operational complexity.
Li Guo, a Huawei Cloud SRE expert, presented their deterministic operations solution, a comprehensive approach based on Huawei Cloud’s internal practices. This solution emphasizes stability and reliability, efficient resources, robust security, and agile services. Huawei Cloud offers a range of services like OES, BOS, AMS, and IMS that empower businesses to enhance O&M capabilities, achieve greater efficiency and quality, and accelerate digital transformation with O&M as a key driver.
Chong Chen, Chief Architect of Huawei Cloud GaussDB(for MySQL), stated that this service can ensure high reliability and availability across three availability zones (AZs), enabling a zero recovery point objective (RPO) and no data loss. Moreover, the entire database system can easily scale up and down and add or remove read copies within minutes to adapt to the changes in application loads without capacity evaluation or resource accommodation. Such an architecture is well-suited for database needs in the AI era.
CNEC Global Leap Program: Empowering Industry with Technology
Cloud native is becoming the new oil to fuel the global digital economy. More and more enterprises will build and grow their services on the cloud. Recognizing this trend, Cloud Native Computing Foundation (CNCF), CAICT, Huawei Cloud jointly founded CNEC in 2020. CNEC aims to address the challenges faced by organizations during cloud migration, utilization, and management. Currently boasting over 200 core members, CNEC has built a comprehensive operational system that supports more than 800 technical managers across various industries, including Internet, finance, logistics, and automotive. The community has also branched out to Europe, Asia Pacific, and Latin America.
William Dong, President of Huawei Cloud Marketing, emphasized the company’s commitment to collaborating with industry organizations like CNCF and CAICT in the AI era. Through technical communities like CNEC, Huawei Cloud aims to connect businesses with the latest global technologies, best practices, and industry trends. This initiative empowers businesses worldwide to harness the potential of cloud native and AI, ultimately achieving the leap to data and AI prowess.
Looking ahead to 2024, CNEC will prioritize the strategic integration of cloud native and AI technologies, an effort to accelerate the global adoption and advancement of AI. During the event, CNEC unveiled its Global Leap Program themed “Leap with Cloud Native x AI”, which will facilitate extensive technical exchanges, in-depth discussions, and pilot practice showcases.
Furthermore, Huawei Cloud held a plaque presentation ceremony to establish the CNEC European Branch to better serve local organizations. This initiative signifies Huawei Cloud’s commitment to collaborating with customers and partners to expedite the adoption and advances of innovative technologies like cloud native, AI, and database solutions in Europe. Ultimately, this collaborative effort aims to unlock the potential for growth across diverse industries with continuous technological innovation.
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Sendbird Unveils Easy-to-Use AI Chatbot Tailored for Small Businesses

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SEOUL, South Korea, Feb. 28, 2024 /PRNewswire/ — Sendbird, a leading communications platform for web and mobile apps, has launched its AI chatbot, designed for easy setup and tailored to help small-to-medium-sized businesses (SMBs)  in various customer-facing sectors like e-commerce and healthcare. This affordable, no-code solution aims to enhance customer engagement and support. Businesses can access an AI chatbot starter package offering features such as chatbot personas creation, knowledge enrichment, workflow integration, and performance tracking analytics, all without requiring technical skills.

Furthemore, Sendbird has unveiled a developer-centric Pro package, which simplifies mobile app integration and provides more workflows and function calls for third-party software connections. These connections empower the AI chatbot to expand its capabilities and improve the competitiveness. For instance, the AI chatbot can offer personalized recommendations for flights, accommodations, or products.
Sendbird’s no-code AI chatbot seamlessly integrates with Sendbird Desk, its in-app chat customer service solution, providing businesses with a unified sales or support desk. This integration boosts automated efficiency while maintaining a nuanced understanding of human support, leading to swifter, more accurate responses and increased customer satisfaction.
Built on a real-time communication platform trusted by industry leaders like Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, Krafton, Sendbird’s AI chatbot ensures seamless integration with both websites and mobile applications. This enables businesses to streamline support processes, save time, and allocate resources effectively, exceeding customer expectations.
Sendbird CEO and Co-founder John S. Kim emphasizes the importance of making AI accessible to SMBs, stating, “Today, large enterprises and consumer brands effectively use AI to engage with their customers. But there is no way for a small company to compete. What we aim to do with our no-code AI chatbot is to make that technology accessible to SMBs.”
To explore the benefits firsthand, businesses can access a free trial of Sendbird’s AI chat bot at sendbird.com/products/ai-chatbot. Additionally, to enhance superior customer support and engagement further, go to Sendbird Desk at sendbird.com/products/customer-support.
About Sendbird
Sendbird is the all-in-one communication platform empowering web and mobile applications with customizable user experiences. Sendbird’s cutting-edge APIs unlock the potential of AI-powered chatbots, one-way notification messages, chat, video calls and live streaming, tailored for use in commerce, marketing, and exceptional customer support. Trusted by industry leaders such as Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, and Krafton, Sendbird powers over 7 billion interactions monthly for over 4000+ applications worldwide.
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Vieworks Unveils Cutting-Edge X-ray Imaging Solutions at ECR 2024

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ANYANG, South Korea, Feb. 27, 2024 /PRNewswire/ — Vieworks, a leading provider of medical and industrial X-ray imaging solutions, is gearing up to showcase its innovative lineup at the European Congress of Radiology (ECR) 2024, scheduled from February 28 to March 3 in Vienna, Austria. Vieworks will introduce a range of groundbreaking solutions including the VXvue software with AI diagnostic support for both human and veterinary applications, alongside X-ray flat panel detectors (Hall X3, Booth 324).

At the exhibition, Vieworks will unveil a total of 19 products, featuring 15 static and dynamic flat panel detectors accompanied by dedicated image acquisition software. Particularly noteworthy will be the introduction of the enhanced VXvue software integrated with AI diagnostic support solutions. 
Vieworks’ large-format and large-area detector products (VIVIX-S 1751S, VIVIX-S 4747V) are designed to optimize full-spine, half-body, and large-area imaging, offering static image detectors capable of capturing wider area images in a single scan compared to conventional models, thereby reducing patient radiation exposure. With advantages such as high resolution and swift image acquisition, these detectors enable more efficient diagnosis.
In addition to these innovations, Vieworks will showcase a variety of its flagship products, including FPDs for general radiography (VIVIX-S V, VIVIX-S F series), portable C-arms and fluoroscopy applications (VIVIX-D series), and digital detectors for breast examination (VIVIX-M series).
Developed in-house by Vieworks, VXvue is a user-centric image processing software designed to post-process clinical images acquired through X-ray detectors. With recent enhancements, VXvue can analyze X-ray clinical images of animals such as dogs and cats, providing abnormal findings related to musculoskeletal and thoracic diseases within 15 seconds. By offering post-processing of images along with information on the location of ailments and their probability, VXvue is poised to significantly improve the diagnostic process for veterinarians.
VXvue also offers advanced solutions for human application, incorporating the ‘PureImpact™’ technology, a high-performance image processing algorithm that enhances image clarity, and AI. This enables detailed depiction of soft tissue and skeletal structures with minimal radiation exposure.
A Vieworks spokesperson stated, “This year, we will continue to invest in innovative technologies such as AI to advance our product diversification and technological sophistication. Through these efforts, we aim to secure loyalty from our key customers in North America and Europe and expand our market share.”
ECR, regarded as one of the world’s largest congresses alongside the Radiological Society of North America (RSNA), anticipates participation from over 240 companies representing 35 countries.
About Vieworks Co., Ltd.
As a global leader in digital imaging in various applications from medical x-ray imaging to industrial x-ray inspection, Vieworks offers the most advanced x-ray flat panel detectors and software as a solution to the world. Vieworks creates new standards in the imaging industry by providing professionals with the most valued and high-quality images and offering innovative vision and insight for all. For more information, please visit xrayimaging.vieworks.com.
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