Artificial Intelligence (AI) in Healthcare Market Size, Share, Trends, Analysis and Forecast by Region, Segment, Offering, Technology and End User 2022-2027

The AI in healthcare market size was valued at US$7,679.39 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 39.05% during 2022-2027. The key to the growth has been increasing investment and development in AI and increasing strategic moves by market players are stimulating. Additionally, key strategic partnerships and mergers and acquisitions are expected to accelerate market growth. Over the forecast period, the market will witness an increase in government initiatives, favoring the AI in healthcare market growth

Healthcare, including pharma, medical devices, healthcare providers, and payers, is a highly regulated industry, and therefore can be slow to adopt new technologies and modernize. However, the healthcare industry is realizing the benefits artificial intelligence (AI) can bring, and it is now being used in different areas across the entire value chain. Additionally, its use in the healthcare space is expected to continue to increase in the next five years.

The integration of software with artificial intelligence is creating growth avenues for the global artificial intelligence in healthcare market. Integration of software with artificial intelligence offers immediate decision support and best results to diagnose diseases. Additionally, it reduces time to track diseases and shows tremendously quick diagnostic results.

The key to the growth has been the increasing investment in AI and increasing strategic moves by market players are expected to accelerate market growth.

Scope

The global AI in healthcare market size reached USD 7,679.39 million in 2021, according to a new report by GlobalData Plc. As the distribution of venture capital (VC) investments for AI technologies in healthcare precisely follows the movement of overall VC funding movement, the latter can be utilized as an alternative for interest in AI by country. Globally, in 2019, the health tech deals were valued at $15.5 billion, consisting of 789 deals, which slightly decreased to $13.8 billion in 2019. However, the number of deals and deal value has increased significantly over the past decade. That is portraying the growth prospectus available in the market and increased focused of market players to capture the potential within the market. Investment flows are focused on the United States, although investments are increasing in countries with high potential such as China and India

Reasons to Buy

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