Healthcare Artificial Intelligence Market to Reach $20B in 2024
Fred Donovan | December 13, 2018
Fueled by the growing adoption of artificial intelligence (AI) in medical research, care delivery, and precision medicine, the global healthcare artificial intelligence market is forecast by Energias Market Research to reach a value of $19.9 billion in 2024, posting an aggressive CAGR of 48.7% during that period. The increasing number of healthcare AI applications along with more capital investments in AI is driving strong market growth. AI is being used in a myriad of healthcare environments, such as clinical labs, research facilities, and hospitals. In addition, advancements in deep learning and wider application of AI have generated increasing AI use in the healthcare sector, such as diagnosis and treatment. Key healthcare AI vendors identified by Energias include IBM, Microsoft, Welltok, General Electric, Philips, Google, Intel, Siemens, CloudMedx, and Zebra Medical Vision. The software segment holds the largest share of the healthcare AI market, owing to growing development in software and increasing demand for medical diagnostics.