The global Artificial Intelligence In Healthcare Market size is expected to reach USD 208.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 38.4% from 2022 to 2030. The growing demand for personalized medicine, rising demand for value-based care, growing datasets of patient health-related digital information, advancements in healthcare IT infrastructure, penetration of smartphones, improved internet connectivity, and shortage of care providers is propelling the growth of the market over the forthcoming years.
In addition, changing lifestyles, the growing
geriatric population, rising prevalence of chronic diseases have contributed to
the need for faster and accurate disease detection and improving the
understanding of the disease in the early stage, thereby driving the adoption
of technologies based on Artificial Intelligence (AI) in healthcare. The
ongoing Covid-19 pandemic positively impacted the adoption of AI-based
technologies and unearthed the potential they withhold. Healthcare systems
began adopting AI-based technologies in faster and early diagnosis &
detection of diseases and quicker & accurate clinical trials.
Furthermore, AI-based technologies were implemented in
virtual assistants, robot-assisted surgeries, claims management, cybersecurity,
and patient management. AI algorithms were trained with patient health datasets
to optimize the diagnosis and detection of diseases at an early stage, to begin
with, an optimum treatment regime. Supportive government initiatives, a growing
number of investments from private investors and venture capitalists, and the
emergence of AI-specialized startups across the globe are driving the market
growth. Software solutions dominated in 2021, owing to the rapidly rising
adoption rates of software solutions in healthcare systems and the growing
penetration of these technologies in various applications.
The clinical trials segment dominated in
2021, owing to the adoption of these technologies in clinical trial designing,
study adherence, patient recruitment, and minimized patient dropout. North
America region dominated in 2021, owing to the availability of optimum IT
infrastructure, technological literacy, presence of key players & local
developers, and lucrative funding options. Key players are focusing on devising
innovative product development strategies through mergers & acquisitions
and collaborations to expand their product portfolio and cater to larger
business geographies.
Related Press Release@ Artificial Intelligence In Healthcare Market Report
Artificial Intelligence In
Healthcare Market Report Highlights
- The AI in healthcare market size is anticipated to be valued at USD
208.2 billion by 2030, owing to the growing datasets of patient
health-related information, advancing healthcare IT infrastructure, and
growing need for accurate and early disease diagnosis
- The software solutions segment dominated the global market in 2021,
due to the widespread adoption of AI-based software solutions amongst care
providers, payers, and patients.
- The clinical trials segment dominated the market in 2021, owing to
the growing demand for faster and accurate clinical trials with enhanced
accuracy and reliability
- North America dominated in 2021, owing to advancements in
healthcare IT infrastructure, readiness to adopt advanced technologies,
presence of several key players, growing geriatric population, and rising
prevalence of chronic diseases
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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