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AI in Healthcare Market, Global Outlook and Forecast 2024-2030

The global AI in Healthcare market was valued at US$ 28.4 billion in 2023 and is projected to reach US$ 164.4 billion by 2030, at a CAGR of 48.1% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Artificial intelligence (AI) in healthcare is the use of algorithms and software to approximate human cognition in the analysis of complex medical data.
This report contains market size and forecasts of AI in Healthcare in Global, including the following market information:
Global AI in Healthcare Market Size 2025-2030, ($ millions)

According to our research, the global market for medical devices is estimated at US$ 603 billion in the year 2023, and will be growing at a CAGR of 5% during next six years. The global healthcare spending contributes to occupy 10% of the global GDP and is continuously rising in recent years due to the increasing health needs of the aging population, the growing prevalence of chronic and infectious diseases and the expansion of emerging markets. The medical devices market plays a significant role in the healthcare industry.

Artificial Intelligence (AI) is revolutionizing the healthcare industry by enhancing diagnostics, treatment plans, and operational efficiencies.

Adoption and Utilization

• Widespread Adoption: As of 2023, approximately 85% of healthcare organizations have adopted some form of AI technology, a significant increase from just 46% in 2019.
• Primary Applications: Diagnostic imaging (44%), patient data management (41%), and virtual nursing assistants (34%) are among the most common AI applications in healthcare settings.

Improved Diagnostics and Patient Outcomes

• Diagnostic Accuracy: AI algorithms have demonstrated up to a 99% accuracy rate in detecting certain conditions, such as diabetic retinopathy and breast cancer, significantly reducing misdiagnosis rates.
• Patient Outcomes: Hospitals utilizing AI for early detection of sepsis have reported a 20% reduction in mortality rates, showcasing the potential life-saving benefits of AI technologies.

• Operational Efficiency: AI-driven automation of administrative tasks, such as patient scheduling and billing, has led to a 30% increase in operational efficiency within hospitals and clinics.
• Cost Savings: The integration of AI is projected to save the healthcare industry over $150 billion annually by 2026 through reductions in diagnostic errors, streamlined workflows, and enhanced preventive care measures.

Patient Engagement and Satisfaction

• Patient Engagement: Over 60% of patients reported a higher satisfaction rate when interacting with AI-driven chatbots for appointment scheduling and follow-up care, appreciating the 24/7 availability and quick responses.
• Telehealth Services: The use of AI in telehealth has grown by 400% since 2020, driven by the COVID-19 pandemic, with 70% of patients expressing willingness to continue using telehealth services post-pandemic due to the convenience and efficiency it offers.

Healthcare Workforce Impact

• Workforce Augmentation: AI is not replacing healthcare professionals but augmenting their capabilities. Around 75% of clinicians believe AI helps reduce their workload, allowing them to focus more on patient care.
• Training and Development: More than 50% of medical institutions are incorporating AI training into their curriculum, preparing future healthcare professionals to work alongside AI technologies.

Future Prospects and Investments

• Investment Growth: Investments in healthcare AI are expected to reach $45 billion by 2026, reflecting a compound annual growth rate (CAGR) of 44%.
• AI-driven Drug Discovery: AI is expediting the drug discovery process, with AI technologies cutting the time required for drug discovery by nearly 50%, thus accelerating the development of new treatments and therapies.

AI is reshaping the healthcare landscape, driving significant improvements in diagnostics, patient care, operational efficiency, and cost savings. The positive reception from end-users, including both patients and healthcare professionals, underscores the transformative potential of AI in creating a more efficient, effective, and patient-centered healthcare system.

The market is driven by several factors, including the increasing demand for advanced healthcare services globally, advancements in medical technology, growing geriatric population, rising healthcare expenditure, and increasing awareness about early disease diagnosis and treatment.

We surveyed the AI in Healthcare companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global AI in Healthcare Market, by Type, 2025-2030 ($ millions)
Global AI in Healthcare Market Segment Percentages, by Type

• Hardware
• Software
• Services

• Patient Data and Risk Analysis
• Lifestyle Management and Monitoring
• Precision Medicine
• In-Patient Care and Hospital Management
• Medical Imaging and Diagnosis
• Drug Discovery
• Virtual Assistant
• Others

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• The Middle East and Africa (Middle East, Africa)
• South and Central America (Brazil, Argentina, Rest of SCA)

• NVIDIA
• Google
• IBM
• Microsoft
• General Vision
• Enlitic
• Next IT
• Welltok
• ICarbonX
• Recursion Pharmaceuticals
• GE
• Siemens
• Johnson & Johnson
• Medtronic
• Careskore
• Zephyr Health
• Oncora Medical
• Sentrian
• Bay Labs
• Deep Genomics
• Cloudmedx