AI in Health and Safety Market
AI in Health and Safety Market worth $28.6 Bn by 2031 – Exclusive Report by InsightAce Analytic Pvt. Ltd.
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “AI in Health and Safety Market – (By Type (Machine Learning, Natural Language Processing (NLP), Computer Vision, Robotics, Expert Systems), By Application (Medical Image Analysis, Drug Discovery and Development, Virtual Nursing Assistants, Patient Data Management, Wearable Health Monitoring, Personalized Treatment Plans, Predictive Maintenance in Healthcare Facilities, Hospital Management and Operations Optimization), By End-User (Hospitals and Clinics, Pharmaceutical Companies, Healthcare IT Companies, Research Institutions, Insurance Providers)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global AI in Health and Safety Market is valued at US$ 6.5 Bn in 2023, and it is expected to reach US$ 28.6 Bn by 2031, with a CAGR of 20.9% during the forecast period of 2024-2031.
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Artificial intelligence in health and safety is the use of cutting-edge computer algorithms and technology to improve workplace safety procedures and healthcare. It encompasses the analysis of medical data, the prediction of health outcomes, the optimization of safety protocols, and the application of machine learning, natural language processing, computer vision, and robotics. AI helps in medication research, medical imaging analysis, and customized treatment plans in the healthcare industry, which results in more precise diagnoses and effective healthcare delivery. Furthermore, by controlling hospital operations, creating virtual nursing assistants, and providing predictive maintenance in healthcare facilities, AI significantly contributes to increased worker safety. Health and safety experts may reduce risks, stop accidents, and improve general health and safety standards across a range of industries by utilizing AI.
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List of Major Players in the AI in Health and Safety Market:
• IBM Corporation
• Google LLC
• Microsoft Corporation
• Amazon Web Services, Inc.
• Intel Corporation
• General Electric Company
• Siemens Healthineers AG
• Medtronic, Inc.
• Johnson & Johnson Services, Inc.
• NVIDIA Corporation
• Apple Inc.
• Cerner Corporation
• Philips Healthcare
• Oracle Corporation
• GE Healthcare
• Koninklijke Philips N.V.
• Hewlett Packard Enterprise (HPE)
• Allscripts Healthcare Solutions, Inc.
• Epic Systems Corporation
• Cognizant Technology Solutions Corporation
• General Vision, Inc.
• CloudMedx Inc.
• Digital Reasoning Systems, Inc.
• Sentrian Pty Ltd.
• others
Market Dynamics:
Drivers-
The growing need for cutting-edge healthcare solutions that can enhance patient outcomes and streamline medical procedures is one of the main motivators. Improved patient care is made possible by AI-powered technologies like predictive analytics and medical image analysis, which allow for quicker and more accurate diagnoses. Furthermore, companies are adopting AI to improve safety standards and guarantee a secure working environment due to the increased emphasis on workplace safety and the need to prevent accidents and dangers.
Challenges:
The high cost of implementing AI technology is one of the main obstacles. For many healthcare providers and sectors, the initial investment and integration of AI technologies might be substantial, which hinders their rapid adoption. Furthermore, Other deterrents include worries about data security and privacy because using AI requires managing private and sensitive medical data. Continued industry expansion depends on finding a balance between the advantages of AI and protecting data privacy.
Regional Trends:
The increase in cancer patients in Asia Pacific nations is the main driver of the expansion of Al in the healthcare industry in the area. Globally, there were 99 million cancer-related deaths and 192 million new cases; about half of these deaths and almost half of the new cases occurred in the Asia-Pacific area. These numbers highlight the significant cancer burden in the Asia-Pacific area. Considering that nurses make up over half of the oncology healthcare workforce, learning new information and adopting evidence-based practices are essential to providing effective and efficient cancer care.
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Recent Developments:
• In June 2024, The collaboration between Cleveland Clinic, IBM, and the Hartree Centre aims to enhance healthcare and life sciences by leveraging artificial intelligence and quantum computing technologies. The research teams utilized high-performance and quantum computing to enhance the field of life sciences, aiming to enhance healthcare and expedite the development of novel medicines for patients globally.
Segmentation of AI in Health and Safety Market-
By Type-
• Machine Learning
• Natural Language Processing (NLP)
• Computer Vision
• Robotics
• Expert Systems
By Application-
• Medical Image Analysis
• Drug Discovery and Development
• Virtual Nursing Assistants
• Patient Data Management
• Wearable Health Monitoring
• Personalized Treatment Plans
• Predictive Maintenance in Healthcare Facilities
• Hospital Management and Operations Optimization
By End-User-
• Hospitals and Clinics
• Pharmaceutical Companies
• Healthcare IT Companies
• Research Institutions
• Insurance Providers
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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This release was published on openPR.
