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AI in healthcare market to reach $27.6 billion by 2025

The global artificial intelligence (AI) in the healthcare market is expected to reach $27.6 billion by 2025 with a 43.5% growth from 2018, a report by Meticulous Research revealed.

The report analyses various applications of the technology, from patient data and risk analytics to medical imaging and diagnosis, drug discovery, precision medicine, hospital workflow management, and patient management.

It also examines the growth of AI in healthcare based on different disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering.

The document shows how the uses of AI in the healthcare market are mainly segmented by product, technology, application, end-user, and geography.

Natural language processing is at the forefront of this growth, with tech giants such as IBM Corporation and Google working on applications such as speech recognition for computer-assisted physician documentation and coding to optimise billing.

In terms of the end-user, the report places hospitals and diagnostics centres at the top of the artificial intelligence healthcare market during the forecast period. This would be mainly due to the increasing number of collaborations among hospitals and companies to develop and implement customised Al solutions.

The new data also shows how, despite North America will continue to dominate the global artificial intelligence market in healthcare, the Asia Pacific region is expected to grow at the highest rate during the forecast period of 2018 to 2025, particularly driven by China.

The Meticulous Research report placed Nvidia, Intel, IBM, Alphabet, and Microsoft at the forefront of developments of AI in the healthcare sector.

However, other names appear in the document, noticeably Carre Technologies, Deep Genomics, Enlitic, General Electric and others.

You can read a sample of the report or buy it in full on the Meticulous Research website here.

Image via PXhere.

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