Healthcare Artificial Intelligence Market forecast to grow at 40% CAGR from 2017 to 2024: Global Market Insights Inc. The medical industry report “Healthcare Artificial Intelligence Market Size By Application (Medical Imaging & Diagnosis, Drug Discovery, Therapy Planning, Hospital Workflow), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Brazil, Mexico, South Africa), Growth Potential, Competitive Market Share & Forecast, 2017 - 2024”, by Global Market Insights, Inc. says Healthcare Artificial Intelligence Market size is forecast to exceed USD 10 billion by 2024. AI has revolutionized the healthcare industry by designing treatment plans, medication management, assisting in repetitive tasks, and drug discovery. Rising adoption of precision medicine has made enabled simplicity of management and cost reduction. Increasing application in genomics research coupled with incremental innovation in robotic personal digital assistants should boost industry growth.
Medical imaging & diagnosis will witness more than 40% growth with expectations to surpass USD 2.5 billion by 2024. It has gained acceptance owing to its capability to detect cancer at early stage, track tumor development and improve the patient’s life expectancy. Increasing application of artificial intelligence in diagnostics and imaging industry will further growth. Increasing big data volume and the ever-increasing need to effectively store and manage the healthcare data will drive healthcare artificial intelligence market growth. Advent of innovative technologies for effective diagnosis & treatment should further accelerate business penetration. Huge initial investment, complex ROI structure and significant maintenance & repair costs should hamper industry growth. Rising concerns that healthcare AI adoption could lead to unemployment on a large scale can impede expansion over the forecast timeframe.
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