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Global Artificial Intelligence (AI) in Healthcare Market Expected to Experience Significant Growth

Strategic Insights

— 1 min read

The global AI in healthcare market is anticipated to experience a CAGR of around 51.5% during the forecast period from 2020 to 2026, driven by increasing demand for early and effective disease detection, growing investment in healthcare, and government funding for R&D. However, security concerns and the need for relevant data to make AI work are hindering the market's growth.

Key Takeaways:

  • The global AI in healthcare market is expected to reach a value of around $67.4 billion by 2026, growing from $4.9 billion in 2020.
  • Companies such as 3Scan, Atomwise, and IBM are among the key players in the market, with emerging technologies like machine learning and deep learning driving growth.
  • The market is driven by increasing demand for early and effective disease detection, with AI-based technologies supporting diagnosis and prevention.
  • The COVID-19 pandemic has accelerated the adoption of AI in healthcare, with many market players, universities, and start-ups collaborating on integration and data sharing.
  • Key initiatives include contact tracing, drug development, and remote communications, with companies like Google, Microsoft, and Apple involved in these efforts.
  • The report includes a market value data analysis of 2019 and forecast to 2026, country-wise analysis, and key company analysis, including financial analysis, SWOT analysis, and key strategy analysis.

Statistics:

  • The global AI in healthcare market is expected to experience a CAGR of around 51.5% during the forecast period.
  • The market is expected to reach a value of around $67.4 billion by 2026, growing from $4.9 billion in 2020.
  • The market is driven by increasing demand for early and effective disease detection, with AI-based technologies supporting diagnosis and prevention.
  • The COVID-19 pandemic is expected to have a lasting impact on the market, with increased adoption and collaboration among market players.

Sources:

  • ResearchAndMarkets.com, "Artificial Intelligence (AI) in Healthcare Market 2020-2026"
  • 3Scan, Inc., Atomwise, Inc., Amara Health Analytics Inc., Bay Labs, Inc., BioBeats Inc, Cloudmedx inc., Google LLC, General Electric Co., IBM Corp., Intel Corp., iCarbonX, Johnson & Johnson Services Inc., Koninklijke Philips N.V., Medtronic PLC, MedAware Systems, Inc., Microsoft Corp., Micron Technology Inc., NVIDIA Corp., Oncora Medical, Siemens AG, and C3 AI.

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