Latest News- Artificial Intelligence (AI) Market In Healthcare: Medical imaging and diagnostics is expected to lead the Application segment during 2025-2029

The Artificial Intelligence (AI) Market In Healthcare is being driven by Push for digitization in healthcare

The Artificial Intelligence (AI) Market In Healthcare is expected to grow at a CAGR of 33.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 30230.6 million. The global population aged 60 and above is projected to double from approximately 605 million in 2000 to nearly 2 billion by 2050, with significant growth observed in Europe, Japan, and China. This demographic shift is expected to have significant economic, social, and health implications for these regions. In response, the healthcare industry is evolving to address the unique needs of the aging population. The US, for instance, anticipates that individuals aged 65 and above will comprise 20% of its total population by 2030. This trend necessitates the development of innovative healthcare solutions tailored to the specific requirements of geriatric patients. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Push for digitization in healthcare
• Growing demand for reduced healthcare cost
• Growing number of partnerships and collaborations

However, the market also witnesses some limitations, which are as follows:

• Physician and provider skepticism
• Regulatory challenges to promote safety and effectiveness of products
• Lack of skilled AI workforce

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Market Scope in Artificial Intelligence (AI) Market In Healthcare Research Report

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Research Analysis Overview

Artificial Intelligence (AI) in healthcare involves the use of intelligent agents, such as machine learning and artificial neural networks, to analyze patient health data and provide personalized solutions for chronic diseases. Deep learning technology and computing power enable AI applications in areas like personalized medicine, big data analytics, health monitoring, medication management, and personalized care plans. AI-powered solutions also include companion robots, virtual assistants, medical imaging analysis, predictive analytics, and personalized treatment planning. AI is revolutionizing drug discovery through analysis of healthcare data, medical imaging scans, wearable devices, genomic sequencing, and AI-powered clinical decision-making.

Market Research Overview

The Artificial Intelligence (AI) market in healthcare encompasses the earnings from the sale of healthcare applications, IT systems, internet-based healthcare tools, telehealth technologies, and digital health technologies to healthcare providers. According to Technavio, the global healthcare market size is determined by the consolidated revenue of equipment, supplies, pharmaceutical, biotechnology, healthcare technology players, and life sciences tools and services manufacturers/providers. Factors driving the growth of this market include the need to reduce healthcare costs in both developed and developing economies, the integration of digital technologies in chronic disease management, and the potential for personalized medicines through data analytics using AI technologies such as machine learning, artificial neural networks, deep learning, predictive analytics, and content analytics.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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