Artificial Intelligence (AI) in Healthcare Market Analysis, Size, and Growth (2023-2031)
Artificial Intelligence (AI) in Healthcare Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 25.64 Billion |
Market Size by 2031 | US$ 519.73 Billion |
Global CAGR (2023 - 2031) | 53.4% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Component
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
Artificial Intelligence (AI) in Healthcare Market News and Recent Developments
The artificial intelligence (AI) in healthcare market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes corporate publications, association data, and databases. A few of the developments in artificial intelligence (AI) in healthcare market are listed below:
- Bayer and Google Cloud announced a collaboration on the development of AI solutions to support radiologists and ultimately better serve patients. As part of the collaboration, Bayer would develop its innovation platform to accelerate the development and deployment of AI-powered healthcare applications with a clear focus on radiology, using Google Cloud's technology, including its generative AI (gen AI) tools. The collaboration aims to help organizations overcome many of the challenges to building scalable and compliant AI-powered medical imaging software products using leading data security capabilities and accelerate the development of potentially groundbreaking and impactful solutions that ultimately benefit patients. (Source: Google Cloud, Press Release, 2024)
- OM1 launched PhenOM, an AI-powered platform for personalized medicine. Calibrated using OM1’s longitudinal health history datasets, PhenOM uses AI to identify unique digital phenotypes associated with conditions and outcomes and compare patients’ records to highlight risks and opportunities. PhenOM powers personalized healthcare insights at scale across the entire healthcare ecosystem, from life science research to point-of-care clinical decision making. (Source: OM1, Press Release, 2023)
- Responding to rapid advances in AI and the urgent need to define its responsible use in health and medicine, Stanford Medicine and the Stanford Institute for Human-Centered Artificial Intelligence (HAI) announced the launch of RAISE-Health (Responsible AI for Safe and Equitable Health). This pioneering initiative seeks to address critical ethical and safety issues surrounding AI innovation and help others navigate this complex and evolving field. (Source: Stanford Medicine, Newsletter, 2023)
- Google Cloud announced two new AI-powered life sciences solutions to boost drug discovery and precision medicine for pharmaceutical firms, biotech companies, and public sector organizations. Available across the world, the Target and Lead Identification Suite helps researchers predict the structure of proteins and identify the function of amino acids, and the Multiomics Suite accelerates the discovery and interpretation of genomic data, helping companies design precision treatments. (Source: Google Cloud, Press Release, 2023)
Artificial Intelligence (AI) in Healthcare Market Report Coverage and Deliverables
The “Artificial Intelligence (AI) in Healthcare Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Artificial intelligence (AI) in healthcare market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Artificial intelligence (AI) in healthcare market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Artificial intelligence (AI) in healthcare market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the artificial intelligence (AI) in healthcare market
- Detailed company profiles