UAE AI in Healthcare Market
UAE Artificial Intelligence (AI) in Healthcare Market Size Booming to Touch USD 987.6 Million by 2029
Published | 28 August 2023
UAE artificial intelligence (AI) in healthcare market is flourishing because of the significant potential of AI-based tools in elderly care and a high demand for digitalization in healthcare.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the UAE artificial intelligence (AI) in healthcare market size at USD 119 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the UAE artificial intelligence (AI) in healthcare market size to expand at a robust CAGR of 42.28% reaching a value of USD 987.6 million by 2029. Major growth drivers for the UAE artificial intelligence (AI) in healthcare market include rising investments in AI systems, a surge in demand for intelligent solutions for healthcare, and growing adoption of cloud technology. The UAE's healthcare system is renowned globally, with an impressive ratio of 181 doctors per 100,000 people. Approximately 85% of the UAE's population of 9.4 million consists of expatriates. Lifestyle diseases, like obesity (affecting one-third of adults) and diabetes (affecting one in five), are on the rise, prompting a demand for higher-quality healthcare services, particularly among the relatively affluent population. in recent years, the UAE has embraced AI in healthcare. Substantial investments by the government have facilitated an efficient healthcare system that leverages AI for improved medical services. AI-powered algorithms aid in precise and rapid disease diagnosis and treatment. Medical images and patient data in electronic health records are analyzed to identify patterns, allowing for personalized and effective treatments. AI is also employed in remote patient monitoring, enabling timely interventions. To drive innovation, the Dubai Health Authority (DHA) established the Dubai Health Innovation Centre, focused on testing and developing healthcare technologies, including AI solutions. Private companies, like Dubai-based startup Vezeeta, are also investing in AI-powered platforms to assist patients in finding doctors and booking appointments online. However, lack of skilled ai workforce and ambiguous regulatory guidelines for medical software are anticipated to restrain the overall market growth during the forecast period.
UAE Artificial intelligence (AI) in Healthcare Market – Overview
The UAE artificial intelligence (AI) in healthcare market refers to the sector's use and integration of AI technologies and solutions to enhance various aspects of healthcare services in the UAE. This includes the application of AI algorithms and machine learning (ML) techniques to analyze medical data, medical imaging, electronic health records, and other healthcare-related information to aid in diagnosis, treatment, personalized care, and decision-making processes. The market encompasses investments, developments, and adoption of AI-driven solutions aimed at improving the overall efficiency, accuracy, and quality of healthcare delivery in the UAE.
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Impact of COVID-19 on UAE Artificial intelligence (AI) in Healthcare Market
COVID-19 pandemic had a mixed impact on the UAE artificial intelligence (AI) in healthcare market. As the healthcare system faced unprecedented challenges, there was an accelerated adoption of AI-powered solutions to manage patient care and optimize resources. AI played a crucial role in areas such as diagnostics, telemedicine, and drug discovery. Remote patient monitoring and AI-based analytics also aided in tracking and predicting infection trends. Moreover, the pandemic highlighted the importance of AI in enhancing healthcare preparedness and response capabilities. The increased reliance on AI during COVID-19 shaped the future of healthcare, fostering further growth and innovation in the UAE market.
UAE Artificial intelligence (AI) in Healthcare Market – By Offering
By offering, the UAE artificial intelligence (AI) in healthcare market is divided into Hardware, Software, and Services segments. The services segment holds the highest share in the UAE artificial intelligence (AI) in healthcare market by offering. The services segment in the AI in healthcare market often includes consulting, implementation, training, maintenance, and support services for AI solutions. This segment's significance can be attributed to the need for customization and seamless integration of AI applications in healthcare, along with the complexity of implementation and the rapid advancements in AI technology. Moreover, service providers can ensure compliance with regulations and data security requirements. Outsourcing AI-related services may also offer cost-effectiveness for healthcare organizations.
Competitive Landscape
Major players operating in the UAE artificial intelligence (AI) in healthcare market include IBM Watson Health, Google Health, NVIDIA, Microsoft Healthcare, Cerner Middle East and Africa, Healthigo (ARE), Mubadala Healthcare (ARE), and NMC Healthcare (ARE). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of UAE Artificial intelligence (AI) in Healthcare Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in UAE Artificial intelligence (AI) in Healthcare Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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Publish Date: August 2023
The growing awareness about the significant potential of AI-based tools in elderly care and an increasingly high demand for digitalization in healthcare are projected to propel the expansion of the UAE artificial intelligence (AI) in healthcare market during the forecast period between 2023 and 2029.
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