Software Solution Segment to Dominate South and Central America Artificial intelligence (AI) in healthcare Market during 2019–2027

According to a new market research study on “South and Central America Artificial Intelligence in Healthcare Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast – by Component, Application, End User and Country,” is expected to reach US$ 4,214.89 Mn by 2027 from US$ 172.02 Mn in 2019. The market is estimated to grow at a CAGR of 47.9% from 2020 to 2027. The report provides trends prevailing in the South and Central America artificial intelligence (AI) in healthcare market along with the drivers and restraints pertaining to the market growth. An upsurge in the application of artificial intelligence (AI) in healthcare and incrementing investment in AI healthcare startups are the major factors driving the growth of the South and Central America artificial intelligence (AI) in healthcare market. However, lack of skilled ai workforce and imprecise regulatory guidelines for medical software may hinder the growth of South and Central America artificial intelligence (AI) in healthcare market.

The market for South and Central artificial intelligence (AI) in healthcare is segmented into type, source, form, application, and country. Based on type, the market is segmented into component, application and end user. In 2019, the software solution segment held the largest share in South and Central America artificial intelligence (AI) in healthcare market. Based on application, the South and Central America artificial intelligence (AI) in healthcare is divided into robot assisted surgery, virtual assistants, administrative workflow assistants, connected machines, diagnosis, clinical trials, fraud detection, cybersecurity, dosage error reduction and others. The robot assisted surgery is expected to be the fastest growing segment over the forecast period. On the basis of application, the market is segmented into hospitals & healthcare providers, patients, pharma & biotech companies, healthcare payers and others. The hospitals & healthcare segment contributed a substantial share in the 2019. Furthermore, in this present scenario of COVID 19 pandemic, the South and Central America artificial intelligence (AI) in healthcare market has been facing difficulties and several countries have suffered heavily. Brazil and Argentina are some of the countries that have incurred a huge loss. The manufacturing sectors in the countries mentioned above have been experiencing low production and a weak supply chain.

General Electric Company, Alphabet Inc., Intel Corporation, Koninklijke Philips N.V., Microsoft Corporation, Nvidia Corporation, Nuance Communications, Inc., Siemens Healthineers AG, Arterys Inc. and  Johnson and Johnson Services, Inc., are among the leading companies in the South and Central America artificial intelligence (AI) in healthcare market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the South and Central America Artificial Intelligence (AI) in Healthcare market as follows:

• Software Solution
• Hardware
• Services

• Robot Assisted Surgery
• Virtual Assistants
• Administrative Workflow Assistants
• Connected Machines
• Diagnosis
• Clinical Trials
• Fraud Detection
• Cybersecurity
• Dosage Error Reduction
• Others

• Hospitals & Healthcare Providers
• Patients
• Pharma & Biotech Companies
• Healthcare Payers
• Others

• Brazil
• Argentina
• Rest of South and Central America