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Global AI in Healthcare Market to Reach $27.2B by 2025

Strategic Insights

— 1 min read

The adoption of Artificial Intelligence (AI) in the healthcare sector is expected to grow rapidly, driven by the increasing volume of healthcare data and the need to reduce towering healthcare costs. The market is expected to grow from $4.2 billion in 2020 to $27.2 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 45.3% during the forecast period.

Key Takeaways:

  • The market is driven by the increasing volume of healthcare data and the need to reduce healthcare costs, with the market expected to grow from $4.2 billion in 2020 to $27.2 billion by 2025.
  • The adoption of AI in the healthcare sector is expected to be driven by the growing need to improve healthcare services due to the imbalance between the health workforce and patients.
  • The market is segmented into sections, including services, software, and hardware, with software expected to hold the largest share in the AI in healthcare market.
  • The market is expected to grow rapidly in North America, with the US, Canada, and Mexico being key players in the region.
  • Recent developments in the market include partnerships between IBM and EBSCO to provide access to evidence-based drug and disease information, and the collaboration between GE Healthcare and Lunit to launch an AI-powered chest X-ray analysis suite.
  • Companies covered in this report include NVIDIA Corporation, Intel Corporation, International Business Machines Corporation, Google Inc., Microsoft Corporation, Amazon Web Services, General Electric, Siemens Healthineers, Medtronic, and Johnson & Johnson Services, Inc.

Statistics:

  • $4.2 billion: The size of the Global AI in Healthcare Market in 2020.
  • $27.2 billion: The size of the Global AI in Healthcare Market expected to be in 2025.
  • 45.3%: The Compound Annual Growth Rate (CAGR) of the market during the forecast period.
  • 2020-2025: The forecast period for the market growth.
  • 4.2-27.2: The growth in the market size from 2020 to 2025.

Sources:

  • "Global AI in Healthcare Market (2020-2025) by Sections, Diagnosis, End user, Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" by ResearchAndMarkets.com.

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