The India AI in Healthcare Market was at US$ 10 Bn in 2021 and is growing to approx US$ 35 Bn by 2032, with a CAGR growth of 30% between 2022 and 2030.

AUSTIN, TEXAS, UNITED STATES, May 30, 2023/EINPresswire.com/ -- According to the study, The India AI in Healthcare Market was estimated at USD 10 Billion in 2023 and is anticipated to reach around USD 35 Billion by 2032, growing at a CAGR of roughly 30% between 2022 and 2030.

Report URL: https://www.custommarketinsights.com/report/india-ai-in-healthcare-market/

India AI in Healthcare Market: Overview

While AI is still frequently used in radiology, particularly for diseases like tuberculosis (TB), it is becoming more common to utilize it for other purposes, such as preventive health checkups, to identify the likelihood of developing heart disease.

The Indian government is also placing a significant bet on AI to assist in tracking illness outbreaks across the country. A database of outbreaks of 33 diseases that the Integrated Disease Surveillance Program tracks will be created using a tool that a private company is developing in partnership with the National Center for Disease Control (NCDC). Some of these diseases have the potential to become epidemics (IDSP).

India AI in Healthcare Market: Growth Drivers

Some of the key factors propelling the India’s AI in healthcare market’s expansion are the expanding datasets of digital patient health information, the rising desire for individualized treatment, and the rising demand for lowering healthcare costs. The increase in demand for early disease diagnosis and better understanding has been attributed to the growing global geriatric population, changing lifestyles, and rising prevalence of chronic diseases. Healthcare systems are increasingly adopting and incorporating AI and machine learning (ML) algorithms to precisely prognosis diseases in their early stages based on past health records.

Additionally, the growing healthcare personnel scarcity sparked the use of AI/ML technology. As a result, it is possible to train AI algorithms to assess patient health data, which will help medical professionals diagnose patients’ conditions swiftly and develop effective treatment plans. The ongoing Covid-19 pandemic, growing numbers of mergers and acquisitions, technical partnerships, and supportive government initiatives all played a vital part in advancing the application of AI in healthcare. Following their initial deployment in detecting Covid-19 positive individuals utilizing individualized patient information and data consolidation, AI/ML algorithms are now widely used in the quick and accurate diagnosis of medical problems.

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Key Insights:

A) As per the analysis shared by our research analyst, the India AI in Healthcare Market is estimated to grow annually at a CAGR of around 30% over the forecast period (2022-2030).
B) In terms of revenue, the India AI in Healthcare Market size was valued at around USD 10 Billion in 2023 and is projected to reach USD 35 Billion by 2032. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) There are just 64 doctors in India for every 100,000 inhabitants, compared to an average of 150 worldwide. Primary health centers and subcenters in rural, outlying areas frequently have appallingly low staffing levels and lack essential facilities. In India, where more than 70% of the population lives in rural areas, this frequently leads to a shortage of high-quality diagnostic services.
D) Oncology might use tools like this as well. The Comprehensive Archive of Imaging, India’s first de-identified cancer picture collection, was introduced by Tata Medical Center and the Indian Institute of Technology. AI-based tools can use high-quality de-identified photos to help machine-learning models find biomarkers and enhance the results of cancer research.
E) India is one of the nations in the world with the most potential for innovative, sustainable, and scalable healthcare technology to improve lives because of its significant healthcare distribution inequalities, glaring lack of infrastructure & trained healthcare clinicians, and low government spending on healthcare. Although there are 1 billion people in the country, many of whom have smartphones and internet access, it is still challenging to think of more than a few instances of digital technologies that have had a big influence on healthcare outcomes or have been broadly adopted.
F) There is always a continuous gap to fill, whether it be a spending gap, a geographic gap, an infrastructure gap, an urban-rural divide, or a difference in skills. The Indian healthcare system offers opportunities and incentives unmatched for piloting and operationalizing innovations because of its diversity and potential scale. Each area that the Indian healthcare system fails in offers a special opportunity for artificial intelligence or even just basic digital technology.

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Regional Landscape

Because of the increasing number of patent expirations and the increasing demand for quicker and more accurate clinical trials to meet the needs of new drug discoveries and drug development, the clinical trials application segment dominated the AI in healthcare market in 2021.

Although AI-based technologies in clinical trials were still in their infancy before the pandemic, there has been an explosion in their use due to the desire for speedier clinical trials that help trial design, study adherence, lowering dropout rates, and patient recruiting.

The India AI in healthcare market expansion is anticipated to be boosted by reducing the time needed to conduct clinical trials and improving their accuracy and dependability. Healthcare start-ups, government regulatory agencies, and companies in the life sciences are starting to support and implement AI-powered processes.

The virtual assistant market, on the other hand, is predicted to grow at the fastest rate over the forecast period.

The lack of qualified workers, the rising use of smartphones, and increased internet access contribute to the rapid expansion and penetration of AI-based technologies in the virtual assistant market.

In addition to the virtual assistant market, the robot-assisted surgery market is anticipated to experience profitable growth and hold significant promise in the years to come. This notable growth rate is due to the rise in collaborations between suppliers of AI technology and companies that make surgical robots.

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Key Players

Aindra Systems Private Limited
Artivatic Data Labs Private Limited
Advenio Tecnosys Private Limited
Niramai Health Analytix Private Limited
Predible Health Private Limited
Sigtuple Technologies Private Limited
Ai Technologies Private Limited
Tricog Health Services Private Limited
Microsoft Corporation (India) Private Limited
IBM India Private Limited
Others

The India AI in Healthcare Market is segmented as follows:

By Component

Hardware
Software Solutions
Services

By Application

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

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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