Financial news media reported on November 20 that the healthcare AI market exhibits a high degree of innovation, characterized by continuous technological advances. “Rapid advances in machine learning (ML), deep learning, Natural language processing (NLP) and computer vision are driving the evolution of AI-powered healthcare solutions.“
TO report by Big view research concluded that the global market size for Artificial Intelligence (AI) in healthcare is expected to continue growing. “A major factor driving market growth is the growing demand in the healthcare sector for greater efficiency, accuracy and better patient outcomes.”
The researchers also noted that the shortage of healthcare workers is another factor in adopting AI technology. Additionally, the pandemic helped accelerate the adoption of AI-based technologies.
According to the report, another influence on shaping AI in healthcare is mergers and acquisitions (M&A). The companies involved expand their market reach or acquire specialized technology.
In 2023, the market size was estimated at $19.27 billion. The researchers said this is expected to grow at a compound annual growth rate (CAGR) of 38.5 percent between 2024 and 2030. “Artificial intelligence technologies have transformative potential in various areas, including medical image analysis , predictive analytics, personalized treatment planning and drug discovery, potentially transforming conventional healthcare practices,” Big view research noted.
