The global artificial intelligence in healthcare market size is expected to reach US$208.2bn by 2030, according to a new report by Grand View Research
The market is expected to expand at a CAGR of 38.4% from 2022 to 2030. The growing demand for personalised medicine, rising demand for value-based care, growing datasets of patient health-related digital information, advancements in healthcare IT infrastructure, penetration of smartphones, improved internet connectivity and shortage of care providers is propelling the growth of the market over the forthcoming years.
According to the report, the software solutions segment dominated the global market in 2021, due to the widespread adoption of AI-based software solutions amongst care providers, payers and patients.
The clinical trials segment dominated the market in 2021, owing to the growing demand for faster and accurate clinical trials with enhanced accuracy and reliability.
North America dominated in 2021, owing to advancements in healthcare IT infrastructure, readiness to adopt advanced technologies, presence of several key players, growing geriatric population, and rising prevalence of chronic diseases.
The ongoing Covid-19 pandemic positively impacted the adoption of AI-based technologies and unearthed the potential they withhold. Healthcare systems began adopting AI-based technologies in faster and early diagnosis and detection of diseases and quicker and accurate clinical trials.
Furthermore, AI-based technologies were implemented in virtual assistants, robot-assisted surgeries, claims management, cybersecurity, and patient management. AI algorithms were trained with patient health datasets to optimise the diagnosis and detection of diseases at an early stage, to begin with, an optimum treatment regime.
The clinical trials segment dominated in 2021, owing to the adoption of these technologies in clinical trial designing, study adherence, patient recruitment and minimised patient dropout. North America region dominated in 2021, owing to the availability of optimum IT infrastructure, technological literacy, presence of key players and local developers, and lucrative funding options.
