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Artificial Intelligence in Healthcare Market Trends

  • Report ID: GMI1557
  • Published Date: Dec 2024
  • Report Format: PDF

Artificial Intelligence in Healthcare Market Trends

Advancements in big data analytics have been pivotal in driving the adoption of artificial intelligence (AI) in healthcare, enabling more efficient, accurate, and personalized medical care.
 

  • By processing and analyzing vast amounts of structured and unstructured healthcare data, AI systems enhance diagnostic accuracy, predict patient outcomes, and optimize treatment plans. For instance, AI-driven platforms utilizing big data analytics have significantly improved early disease detection, such as identifying cancer patterns through genomic data integration.
     
  • In recent years the healthcare AI market has seen notable developments fueled by big data. This growth is driven by innovations such as AI-based predictive analytics used during the COVID-19 pandemic to model virus spread and allocate resources effectively. In clinical settings, big data analytics has been instrumental in real-time patient monitoring, such as using wearable devices to gather and analyze biometric data to predict critical health events.
     
  • Additionally, advancements in natural language processing (NLP) have enabled AI to mine electronic health record (EHR) efficiently, unlocking insights to improve patient care. For example, healthcare providers are now leveraging big data tools to stratify populations by risk, enabling personalized interventions and reducing hospital readmissions. These breakthroughs underscore the synergistic relationship between big data and AI, with projections indicating that big data analytics will continue to shape the healthcare AI landscape through innovations in cloud computing, IoT integration, and machine learning.
     
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size for artificial intelligence in healthcare was valued at USD 18.7 billion in 2023 and is expected to reach USD 317.1 billion by 2032, driven by a CAGR of 37.1% from 2024 to 2032.

The software segment is projected to grow at a CAGR of 36.9%, reaching over USD 252.9 billion by 2032, driven by the increasing use of machine learning and natural language processing software.

The North America market generated USD 7.7 billion in 2023 and is anticipated to grow at a CAGR of 37.7% between 2024 and 2032, driven by robust technological advancements and high healthcare expenditure.

Major players in the industry include AiCure, Aidoc, Apixio, Dassault Systemes (Medidata), Enlitic, Insilico Medicine, International Business Machines, IQVIA, Itrex Group, Koninklijke Philips N.V., Microsoft, and NVIDIA.

Artificial Intelligence in Healthcare Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 148
  • Countries covered: 19
  • Pages: 130
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