Home > Healthcare > Healthcare IT > Artificial Intelligence > Artificial Intelligence in Healthcare Market

Artificial Intelligence in Healthcare Market Trends

Report ID: GMI1557
Published Date: Jun 2024
Report Format: PDF

Download Free Sample

Artificial Intelligence in Healthcare Market Trends

Advancements in big data analytics tools have significantly propelled the growth of the AI in healthcare industry. These tools enable healthcare providers to efficiently manage and analyze vast amounts of medical data, including patient records, genomic data, clinical trials, and more.

For instance, in March 2024, Quibim launched automated AI tool QP-Liver for MR diagnosis of diffuse liver diseases through accurate quantification of tissue fat and iron levels. Similarly, DeepCare, an AI-based platform for end-to-end processing of EMR data. It uses a deep dynamic memory neural network to read and store experiences and in memory cells. Thus, the introduction of advanced analytical tools along with increasing usage of artificial intelligence in several areas of application is anticipated to propel the growth of artificial intelligence in the healthcare market.

Moreover, the use of artificial intelligence and its broadening horizons in research areas is further observed to drive the market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Artificial intelligence in healthcare industry size was worth USD 14.4 billion in 2023 and is projected to expand at 39.2% CAGR from 2024 to 2032, due to the advancement in AI techniques such as machine learning and deep learning, allowing for more accurate diagnostics, predictive analytics, and drug discovery.

The software offering segment in the AI in healthcare industry accounted for USD 11.7 billion in 2023, owing to the critical role of AI software in enhancing medical imaging analysis, aiding in early disease detection and accurate diagnostics through techniques like computer vision and pattern recognition.

The drug discovery segment accumulated 28.1% of the artificial intelligence in healthcare market share in 2023, as AI streamlines drug discovery process by reducing the time and cost associated with bringing new drugs to market.

North America artificial intelligence in healthcare industry accounted for 46.2% market share in 2023, led by the increasing need to reduce fraud and enhance data security in healthcare sector.