 in Healthcare Market.webp)
Artificial Intelligence in Healthcare Market size was over USD 34.92 Billion in 2023 and is expected to exceed USD 4.57 Trillion by the end of 2036, growing at over 45.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of artificial intelligence (AI) in healthcare is evaluated at USD 49.22 Billion.The growth of the market can primarily be attributed to the spiking number of elderly people with the need for assisted living facilities, the rising influx of large and complex healthcare data across the world, and increasing technological advancements in human-aware AI systems. National Library of Medicine published data showing that nearly 1.5 million geriatrics live in nursing homes while around 1 million spend their lives in assisted living facilities.
Global artificial intelligence in healthcare market trends such as growing healthcare expenditure and skyrocketing spending on artificial intelligence are projected to influence the growth of the market positively over the forecast period. As of 2021, AI funding across the globe was estimated to be nearly USD 18 billion which was a significant increase from about USD 650 million in 2011. Moreover, the government of every nation is more active to develop the healthcare infrastructure of their countries. According to statistics released by the World Bank, the healthcare expenditure was stated to be USD 1,121.9 per capita. Hence, all these factors are projected to hike the growth of the market over the forecast period.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
45.5% |
|
Base Year Market Size (2023) |
USD 34.92 Billion |
|
Forecast Year Market Size (2036) |
USD 4.57 Trillion |
|
Regional Scope |
|
Application (Drug Discovery, Medical Imaging, Electrocardiography, Medical Research, Personalized Medicine)
The global AI in Healthcare Market is segmented and analyzed for demand and supply by application into virtual assistance, clinics, diagnostic labs, and hospitals, out of which, the virtual assistance segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the growing utilization of virtual assistance for medical consulting, the growing geriatrics population, and increasing healthcare expenditure. For instance, more than 7 billion digital voice assistants will be functioning across the globe by 2024.
Our in-depth analysis of the global market includes the following segments:
|
By Technology |
|
|
By Offering |
|
|
By Application |
|
|
By End-User |
|
The Asia Pacific region AI in Healthcare Market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed to the growing geriatric population and growing healthcare infrastructure in the region. For instance, the geriatric population in Asia is projected to reach approximately 900 million by 2050. Furthermore, the rising adoption of AI technology in the healthcare sector is also anticipated to hike the growth of the market over the forecast period.
Philips International B.V. to display the clinical solution and data with enhanced efficiency at TCT 2022. These solutions are mainly designed to promote clinical confidence.
Siemens Healthcare GmbH to introduce a study that has been conducted to evaluate and monitor the accuracy of diagnosis of non-contrast flat detector CT. Moreover, the non-inferiority results of flat detector CT are estimated to support the management approach in acute ischemic stroke.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?