AI in Health and Safety Market Revenue Report with Forecast to 2031

AI in Health and Safety Market Revenue Report with Forecast to 2031

Date: 04-04-2025 11:56 AM CET | Categories: Business, Economy, Finances, Banking & Insurance

Insightace Analytic Pvt Ltd Press Release

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global 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.

The integration of artificial intelligence (AI) into health and safety practices represents a significant advancement in enhancing workplace safety and healthcare delivery. AI leverages sophisticated algorithms and technologies-such as machine learning, natural language processing, computer vision, and robotics-to optimize safety protocols and analyze complex medical data.

In the healthcare sector, AI facilitates drug discovery, supports the interpretation of medical imaging, and enables the development of personalized treatment plans, thereby contributing to more accurate diagnoses and improved patient outcomes.

Moreover, AI plays a critical role in operational efficiency within healthcare institutions by streamlining hospital management processes, deploying virtual nursing assistants, and enabling predictive maintenance of medical infrastructure. These applications collectively enhance workforce safety and reduce operational risks.

By adopting AI-driven solutions, health and safety professionals can proactively identify potential hazards, prevent accidents, and elevate health and safety standards across various industries.

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.
• and others

Market Dynamics:

Drivers: The increasing demand for advanced healthcare solutions that can improve patient outcomes and enhance operational efficiency is a key factor driving the adoption of artificial intelligence in health and safety. AI-driven technologies-such as predictive analytics and medical imaging analysis-enable faster and more accurate diagnoses, thereby supporting better patient care. Additionally, the rising focus on occupational safety and the need to mitigate workplace hazards are prompting organizations to implement AI-based solutions aimed at strengthening safety protocols and ensuring a secure working environment.

Challenges:

One of the primary challenges impeding the widespread adoption of AI in healthcare and safety systems is the high cost associated with implementation. The significant upfront investment required for integrating AI technologies can be a barrier, particularly for smaller healthcare institutions and organizations. Furthermore, concerns surrounding data privacy and security remain a critical issue, as the use of AI involves handling highly sensitive and confidential medical information.

Regional Trends:

In the Asia-Pacific region, the growing prevalence of cancer is a major factor accelerating the adoption of AI technologies in healthcare. According to global health statistics, approximately 9.9 million cancer-related deaths and 19.2 million new cases were reported, with nearly half occurring in Asia-Pacific countries. This underscores the substantial cancer burden in the region. Given that nurses constitute a significant portion of the oncology care workforce, there is a strong need for continuous professional development and the integration of AI-based, evidence-driven practices to deliver efficient and effective cancer care.

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.

For more information, visit the official website of Insightace Analytic Pvt. Ltd.