Middle East and Africa Artificial Intelligence (AI) in Healthcare Market

Market Introduction

Artificial intelligence (AI) in healthcare sector is intended to considerably change clinicians' roles and everyday practices by accomplishing and analyzing data, make decisions, and conduct discussions.

AI application in healthcare is getting progressively sophisticated, efficient, and quicker at a lower cost. Owing to the tremendous potential of AI and robotics in healthcare sector, they are gradually becoming a major part of the healthcare ecosystem.

Market Overview and Dynamics

The Middle East and Africa Artificial Intelligence (AI) in healthcare market is expected to reach US$ 5,713.28 million by 2027 from US$ 222.03 million in 2019; it is estimated to grow at a CAGR of 48.8% from 2020 to 2027. The growth of the market is attributed to the driving factors such as rising application of artificial intelligence (AI) in healthcare, growing investment in AI healthcare start-ups, and increasing cross-industry partnerships and collaborations. However, dearth of skilled AI workforce and imprecise regulatory guidelines for medical software hinder the market growth.

Key Market Segments

Based on component, the Middle East and Africa Artificial Intelligence (AI) in healthcare market is segmented into software solution, hardware, and services. The software solution segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.

Based on application, the Middle East and Africa Artificial Intelligence (AI) in healthcare market is segmented into robot assisted surgery, virtual assistants, administrative workflow assistants, connected machines, diagnosis, clinical trials, fraud detection, cybersecurity, dosage error reduction, and others. The clinical trials segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.

Based on end user, the Middle East and Africa artificial Intelligence (AI) in healthcare market has been segmented into hospitals & healthcare providers, patients, pharma & biotech companies, healthcare payers, and others. The hospitals & healthcare providers segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the Middle East and Africa Artificial Intelligence (AI) in healthcare market are King Abdullah University of Science and Technology (KAUST), National Center for Biotechnology Information (NCBI), and Department of Statistics South Africa (Stats SA).

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MIDDLE EAST AND AFRICA ARTIFICIAL INTELLIGENCE (AI) IN HEALTHCARE MARKET SEGMENTATION

By Component

• Software Solution
• Hardware
• Services

By Application

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

By End User

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

By Country

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East and Africa

Company Profiles

• Alphabet Inc.
• General Electric Company
• Intel Corporation
• Koninklijke Philips N.V
• Microsoft Corporation
• NVIDIA CORPORATION
• Nuance Communications, Inc
• Siemens Healthineers AG
• Arterys Inc
• Johnson and Johnson Services, Inc.

Middle East and Africa Artificial Intelligence (AI) in Healthcare Market Strategic Insights

Middle East and Africa Artificial Intelligence (AI) in Healthcare Market Segmentation Analysis

Middle East and Africa Artificial Intelligence (AI) in Healthcare Market Report Highlights

Middle East and Africa Artificial Intelligence (AI) in Healthcare Report Scope

Middle East and Africa Artificial Intelligence (AI) in Healthcare Market Country and Regional Insights