Financial news media reported on November 20, the healthcare AI market exhibits a high degree of innovation, characterized by continuous technological advancements. “Rapid developments in machine learning (ML), deep learning, Natural language processing (NLP) and computer vision are driving the evolution of AI-based healthcare solutions.»
A report by Research on Grand View concluded that the global market size for artificial intelligence (AI) in healthcare is expected to continue to grow. “One of the major factors driving the market growth is the increasing demand in the healthcare sector for efficiency, accuracy and better patient outcomes. »
The researchers also noted that the shortage of healthcare workers is another factor in the adoption of AI technology. Additionally, the pandemic has helped accelerate the adoption of AI-based technologies.
According to the report, mergers and acquisitions (M&A) are also influencing the evolution of AI in healthcare. The companies involved are expanding their market reach or acquiring specialized technology.
In 2023, the market size was estimated at $19.27 billion. The researchers said this figure is expected to grow at a compound annual growth rate (CAGR) of 38.5% between 2024 and 2030. “AI technologies hold transformative potential in various areas, including data analytics. medical imaging, predictive analytics, personalized treatment planning and drug discovery, potentially transforming conventional healthcare practices,” Research on Grand View note.