According to the report titled ‘North America Artificial Intelligence in Healthcare Market Size By Application, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021- 2027’, available with Market Study Report, North America artificial intelligence in healthcare market valuation is anticipated to reach USD 14.3 billion by the year 2027.
 

Recent advancements in healthcare technologies such as Big Data analytics which is leveraged to manage sizeable volume of data, surge in investments for AI implementation, along with rising chronic disease burden due to increasing aged population are propelling the growth for North America artificial intelligence in healthcare industry. Moreover, massive range of future applications and potential to increase quality of care are further catalyzing the industry growth.
 

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Notably, healthcare vertical has evolved with technological advancements in artificial intelligence. It has revolutionized healthcare by designing medical robots, finding new links between genetic codes using advanced machines that are capable enough to predict, understand, learn, and subsequently act. Artificial intelligence holds the capability to avert dead ends in the field of research & development while subsequently reducing costs of drug development, hence AI in healthcare market in North America is anticipated to gain momentum during the COVID-19 pandemic.
 

However, high initial investment, massive curtailing in jobs, and technical difficulties in deployment are the factors expected to hinder the expansion curve of the industry during the study period.
 

North America artificial intelligence in healthcare market sphere, based on application scope, is divided as medical imaging & diagnosis, drug discovery, therapy planning, wearables, virtual assistants, and hospital workflow optimization. Of these, medical imaging & diagnosis segment is anticipated to grow at 46% CAGR through 2027. Integration of AI with quantitative radiographic assessments helps in automatic identification of complex imaging data patterns, providing benefits for medical imaging & diagnosis.
 

Geographically, the report cites that Canada and the U.S. are slated to generate substantial revenues for the market by the year 2027, on account of dearth of public healthcare workforce, especially amidst Covid-19 pandemic, compelling the adoption of latest technologies and automation.
 

The competitive landscape is defined by companies namely AiCure LLC, Apixio Inc., Atomwise Inc., Cyrcadia Health Inc., Butterfly Network Inc., Enlitic Inc., iCarbonX, Insilico Medicine, NVIDIA Corporation, Modernizing Medicine Inc., OmeCare (Pathway Genomics), Sensely Inc., SOPHiA GENETICS, Welltok Inc., Zebra Medical Vision Inc., and Johnson & Johnson.