AI in Healthcare to Grow USD 36.1 billion by 2025

Global Healthcare market for artificial intelligence poised for outstanding growth in the coming years, according to the new research report from ReportLinker.

The AI in the healthcare market will reach to USD 36.1 billion by 2025 from its current $2.1 billion market size in 2018. This is a staggering compounded annual growth rate (CAGR) of 50.2 percent.

Key highlights from the report are:

• The highest growth will be in Service sector segment due to the growing adoption of AI solutions. The demand for deployment, integration, support, and maintenance services are required those AI solutions.
• Machine learning capability adoption by hospitals, research centers, pharmaceutical companies, and other healthcare institutions to improvise patient health is propelling the growth of AI market.
• NLP is a form of artificial intelligence that allows computers to process and analyze unstructured data, such as free-text physician notes written in an EHR. Use cases such as patient-data and risk analysis, lifestyle management and monitoring, and mental health will help in the AI market growth.
• Capabilities such cases such ability of AI systems to improve health care delivery, patient experience, and further help in bringing down healthcare costs along with growing adoption of electronic health records by healthcare organizations will ensure the hospitals and providers segment holds a maximum chunk of AI healthcare market.
• US is one of the major contributors in the North American AI in healthcare market casing the highest CAGR during the forecast period.
• Report also lists prominent AI giants such as NVIDIA (US), Intel (US), IBM (US), Google (US), Microsoft (US), AWS (US), General Vision (US), GE Healthcare (US), Siemens Healthineers (Germany), Medtronic plc (US), Johnson & Johnson (US), and Koninklijke Philips N.V. (Netherlands)

To summarize, a demand to lower healthcare cost and reduction in the cost of computing power, hardware cost along with the availability of big data will help drive the global AI healthcare market.