The North American AI in healthcare market is estimated to grow significantly at a CAGR of 50.4% during the forecast period. The North American market for AI in healthcare is analyzed based on countries such as the US and Canada. The factors that are contributing significantly to the market growth include R&D, and high expenditure by the government as well as a private organization in AI technology. The US and Canada are the major economies of North America. The region has well-developed information communication technology (ICT) and employs the adoption of a large number of connected devices.
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Canada is a promising market for AI in healthcare due to increasing healthcare expenditure and the penetration of AI technology in drug discovery and development. According to the Canadian Institute of Health information, the total expenditure on healthcare in Canada was estimated to reach $253.5 billion in 2018. The total expenditure of Canada on prescribed drugs by the public sector was around $14.4 billion in 2018. The Canadian life sciences sector is a significant contributor to Canada’s innovation economy, engaging in creating the medical innovations that improve health-care delivery and patient care in Canada and abroad.
The market is segmented on the basis of offering, end-user industry, and application. Based on offering, the market is divided into software & services and hardware. Based on the end-user industry, the market is segmented into hospitals & healthcare facilities, personal care, and biotechnology & pharmaceutical companies. Further, on the basis of application, the market is segmented into diagnosis, biomarker, virtual nursing assistance, remote monitoring of patients, drug discovery, and ai-enabled hospital care.
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North American AI in Healthcare Market Segmentation
By Offering
- Hardware
- Software & Services
By End-User Industry
- Hospitals & Healthcare Facilities
- Personal Care
- Biotechnology & Pharmaceutical Companies
By Application
- Diagnosis
- Biomarker
- Virtual Nursing Assistance
- Remote Monitoring of Patients
- Drug Discovery
- Ai-Enabled Hospital Care
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
