The global artificial intelligence in healthcare market is expected to reach a market size of USD 61.59 Billion by 2027 and register a substantially high CAGR over the forecast period, according to a new report by Reports and Data. Artificial intelligence (AI) in healthcare market revenue growth is driven by increasing efficiency in drug discovery and advancement in precision medicine, which is resulting in rising demand and application of these solutions globally. Rise in prevalence of chronic diseases, and increasing global elderly population is expected to continue to support the growth of the market.
Application of artificial intelligence in clinical procedures to check patient’s vital signs, ask required questions, and give prescriptions to patients are accelerating its adoption in technologically advanced region. The technology is also used to give reminders and alert healthcare workers during medical procedures. The advancement in deep learning technology is also propelling the growth for artificial intelligence in healthcare market.
Rising prevalence of complex diseases and need for novel surgery is also driving increasing deployment of artificial intelligence technologies in healthcare sector. However, hesitance among healthcare professionals to adopt artificial intelligence due to some perceived limitations currently is expected to negatively impact growth of the market to a certain extent.
The COVID-19 impact: COVID-19 outbreak has affected the artificial intelligence (AI) in healthcare market positively. AI is playing a crucial role in dealing with the pandemic. The application of artificial intelligence in healthcare has exploded as several biopharmaceuticals and government companies are deploying the technology to study the virus and develop an effective vaccine. It is also helping in managing the information through personalized learning and information.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the global artificial intelligence in healthcare market on the basis of offering, technology, end-use, and region:
Offering Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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