South Africa Artificial Intelligence (AI) In Healthcare Market Insights Forecasts to 2033

• The South Africa Artificial Intelligence (AI) In Healthcare Market Size was valued at USD 0.072 Billion in 2023
• The Market is Growing at a CAGR of 46.14% from 2023 to 2033
• The South Africa Artificial Intelligence (AI) In Healthcare Market Size is Expected to Reach USD 3.199 Billion by 2033

The South Africa Artificial Intelligence (AI) In Healthcare Market Size is Anticipated to Reach USD 3.199 Billion by 2033, growing at a CAGR of 46.14% from 2023 to 2033.

Market Overview

Artificial intelligence in the healthcare field refers to the application of AI-enabled technologies to enhance patient care and improve hospital operations and costs. Analysis of the medical data that helps doctors and medical providers deliver accurate diagnoses and treatments to their patients is done by artificial intelligence in healthcare. To enhance productivity, artificial intelligence in healthcare helps physicians, nurses, and other healthcare professionals streamline their work. Patients’ quality of life and aid in the treatment is enhanced by the development of artificial intelligence in healthcare. According to a Royal Philips report, the use of AI-enabled innovations to enhance patient care is causing a rapid transformation in South Africa's healthcare industry. According to the report, local healthcare executives are more likely than the global average to have used AI for preventative care, in-hospital patient monitoring, and treatment planning. An AI-powered system is developed by the South African government that predicts a patient’s likelihood of receiving a TB diagnosis based on medical records and symptoms. Another way artificial intelligence is being used in South African healthcare is the implementation of telemedicine solutions, which allow medical professionals to remotely monitor patients and conduct consultations, which is particularly crucial in a nation with a large rural population and limited access to healthcare. The Institute for Intelligent Systems at the University of Johannesburg created an application called e-mutakalo (venda for “healthcare”) that gathers, processes, and analyses data while automatically and remotely monitoring patients’ vital signs in real time.

Report Coverage

This research report categorizes the market for South Africa artificial intelligence (AI) in the healthcare market based on various segments regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing South Africa artificial intelligence (AI) in the healthcare market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Africa artificial intelligence (AI) in the healthcare market.

Driving Factors

The growth of the market is propelled by increasing investment by the pharmaceutical and MedTech companies in artificial intelligence in healthcare to expand their business. With the help of AI, medical professionals can detect and diagnose diseases early, and thus most healthcare providers have increased their investments in this sector. A strong foundation for the development and application of artificial intelligence in healthcare is the country’s growing technology sector and refined telecommunications network. Increasing investment in both public and private sectors is driving the market of artificial intelligence in healthcare. As the nation’s high disease burden harms the healthcare systems, innovative solutions must be developed to improve the quality and efficiency of healthcare sectors. The extensive use of digital technologies in healthcare, along with the widespread use of electronic health records, creates vast amounts of data that can be used to train AI models and algorithms.

Restraining Factors

In South African healthcare sector, the adoption and application of AI are hampered by a few factors. A major factor that makes it challenging to create precise AI models and algorithms is the shortage of data infrastructure and interconnectivity among healthcare systems. Another factor that hampers the market is the lack of investment in AI technology and infrastructure by the public sector.

Market Segmentation

The South Africa artificial intelligence (AI) in healthcare market share is classified into platform, application, and end-user.

• The solutions segment is expected to hold the largest market share through the forecast period.

The South Africa artificial intelligence (AI) in healthcare market is segmented by platform into solutions and services. Among these, the solutions segment is expected to hold the largest market share through the forecast period. This is attributed to the increasing demand for artificial intelligence (AI) in healthcare the launch of new products and an increase in investments by the major market players. The adoption of AI-based tools and solutions is increasing due to various government initiatives to promote artificial intelligence in healthcare facilities.

• The robot-assisted surgery segment is expected to dominate the South Africa artificial intelligence (AI) in healthcare market during the forecast period.       

Based on the application, the South Africa artificial intelligence (AI) in healthcare market is divided into robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, clinical trials, diagnostics, and others. Among these, the robot-assisted surgery segment is expected to dominate the South Africa artificial intelligence (AI) in healthcare market during the forecast period. This is due to an increase in technological development.

• The hospitals & clinics segment is expected to hold the largest market share through the forecast period.

The South Africa artificial intelligence (AI) in healthcare market is segmented by end-user into hospitals & clinics, pharmaceutical & biotechnology companies, contract research organizations (CRO), and others. Among these, the hospitals & clinics segment is expected to hold the largest market share through the forecast period. This is attributed to the growing use of new technologies in these environments and the growing cooperation of key market participants.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Africa artificial intelligence (AI) in healthcare market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• BM Watson Health
• GE Healthcare
• Siemens Healthineers
• Philips Healthcare
• Vantage Health Technologies (ZAF)
• Iyeza Health (ZAF)
• CenHealth (ZAF)
• RecoMed (ZAF)
• Vodacom Group (ZAF)
• Envisionit Deep AI (ZAF)
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, with AI Intelligent Technologies concentrating on streamlining healthcare and education throughout the continent, SmarTek21 expanded its AI IntelliTek platform into South Africa in partnership with regional telco operators.

Market Segment

This study forecasts revenue at South Africa, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the South Africa artificial intelligence (AI) in the healthcare market based on the below-mentioned segments:

South Africa Artificial Intelligence (AI) In Healthcare Market, By Platform

• Solutions
• Services

South Africa Artificial Intelligence (AI) In Healthcare Market, By Application

• Robot-Assisted Surgery
• Virtual Nursing Assistant
• Administrative Workflow Assistance
• Clinical Trials
• Diagnostics
• Others

South Africa Artificial Intelligence (AI) In Healthcare Market, By End-User

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Contract Research Organization (CRO)
• Others