Global Artificial Intelligence (AI) in Healthcare market is expected to grow significantly from USD 1.12 billion in 2017 to USD 19.9 billion in 2024, at a CAGR of 48.7% from 2018 to 2024. The growth in the market is attributed to the growing adoption of AI in medical research, limited number of healthcare professionals to cure patients, and increasing demand for precision medicine. Moreover, rising healthcare applications of AI, and increasing capital investments in AI are further propelling the market growth. However, privacy and security issues, and stringent government regulations may hamper the market growth to some extent.

Key findings of the report:

The global artificial intelligence (AI) in healthcare market is expected to reach USD 19.9 billion in 2024, at a CAGR of 48.7% during 2018 -2024
Based on offering, the software segment held the major share of the market in 2017, owing to growing development in software, and increasing demand for medical diagnostics
On the basis of technology,
The natural language processing (NLP) segment held the major of the market in 2017
The deep learning segment is expected to register the highest CAGR during the 2018-2024
On the basis of application, the medical imaging and diagnostics segment held the major share of the market. The growth is attributed to rising demand for image analysis and disease diagnostics, and shortage of skilled professionals. Moreover, technological advancements in AI for early disease detection and growing investments in research and development activities are also driving the growth in the segment.
Asia-Pacific region is expected to register highest CAGR during the forecast period
Some of the key companies operating in the market include IBM Corporation, Microsoft Corporation, Welltok, Inc., General Electric Company, Royal Philips, Google, Inc, Intel Corporation, Siemens Healthcare GmbH, CloudMedx Inc., and Zebra Medical Vision, Inc., among others
Increasing adoption of AI in healthcare Sector

In recent year, there has been an increasing focus on the use of artificial intelligence in healthcare sector. The adoption of artificial intelligence in healthcare is rapidly growing due to increasing number of healthcare applications of AI, and its growing demand for medical research. AI is being employed in a myriad of settings such as clinical laboratories, research facilities, and hospitals. Moreover, technological advancements in deep learning and broader applications of AI have led to its increasing adoption in healthcare sector. AI in healthcare is being used for diagnosis, prognosis and therapy. Furthermore, major technological companies are investing in the development of AI for healthcare and research.

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