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Top Factor Driving Generative AI in Medicine Market Growth in 2025: Surge In Digital Health Records Fuels Growth In generative AI For Medicine
Generative AI in Medicine Global Market Report 2025
The market size for generative AI applications within healthcare has experienced a significant surge in recent years. The current market size of $0.66 billion in 2024 is projected to increase to $0.95 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 43.9%. Factors contributing to this growth during the historic period include the advancements in computational ability and machine learning algorithms, the expansion of precision medicine, the growing demand for drug discovery, an increase in the use of AI for diagnostic imaging, and heightened investment in AI research and development.
The market size for generative AI in medicine is forecasted to undergo a significant surge in the upcoming years, reaching $4.02 billion by 2029, with a compound annual growth rate (CAGR) of 43.5%. The surge during the projected timeframe is linked to factors such as the surge in access to superior medical data, a heightened emphasis on preventative healthcare, a growing requirement for efficient clinical trials, an escalating demand for AI-fortified patient engagement tools, and an amplified use of AI for drug repurposing. Leading trends anticipated during this period encompass technological evolutions, the advent of telemedicine, the rise of personalized medicine, predictive analytics, and the growth of wearable health technology.
What Are the Primary Growth Drivers for the Generative AI in Medicine Market?
The growth of the generative artificial intelligence (AI) in medicine market can be attributed to the rising trend of digital health records. These electronic health records (EHRs) serve as efficient archives of patient health data stored digitally, which can be shared across multiple healthcare settings to enhance patient care quality and effectiveness. This shift towards digital health records has been primarily influenced by factors such as superior patient care, increased healthcare delivery efficiency, regulatory backing and incentives, technological developments, and elevated levels of patient engagement and empowerment. With the ability to automate documentation, structure data, offer predictive intelligence, and generate personalized summaries, AI in medicine serves to enhance the functionality of digital health records, thereby enhancing accuracy, accessibility, and overall patient care. As an example, the European Commission, a Belgium-based executive branch of the European Union, reported that the score for access to electronic health records had risen from 72% in 2023 to 79% in 2024-in July. Consequently, this rise in digital health records usage is the driving force behind the generative AI in medicine market.
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Who Are the Dominant Companies Influencing Generative AI in Medicine Market Trends?
Major companies operating in the generative AI in medicine market are Microsoft Corporation, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Philips Healthcare, Veeva Systems Inc., Nuance Communications Inc., Babylon Health Ltd., Tempus Labs Inc., DeepMind Technologies Limited, Owkin Inc., Viz.AI inc., Recursion Pharmaceuticals Inc., Caresyntax Inc., Relay Therapeutics Inc., Exscientia plc, Paige AI inc., BenevolentAI Limited, Atomwise Inc., Healx Ltd., Zebra Medical Vision Ltd., Eyenuk Inc., Syntegra Ltd., Arterys Inc.
How Is the Generative AI in Medicine Market Evolving?
Prominent firms active in the generative artificial intelligence (AI) in medical industry are concentrating on pioneering novel technologies, such as AI applications for brain health and wellness. These technologies aim to revolutionize cognitive evaluation, enhance patient treatment, and escalate the effectiveness of mental health management. AI tools for brain health and wellness represent sophisticated artificial intelligence technologies created to examine, track, and augment cognitive ability and mental health. For example, in February 2024, DiagnaMed Holdings Corp., a company from Canada that prioritizes the development of AI-driven digital therapeutics, introduced CERVAI, the debut AI solution for human mental health and wellness. This ground-breaking solution applies sophisticated AI to conduct a comprehensive assessment of cognitive function and brain wellness. Its primary features consist of state-of-the-art algorithms which scrutinize diverse data inputs, such as cognitive evaluations and brain imagery, to deliver precise information regarding mental health conditions. The technology provides customized assessments and practical suggestions, allowing for preemptive detection of cognitive problems and individualized interventions.
What Are the Different Segmentations in the Generative AI in Medicine Market?
The generative AI in medicinemarket covered in this report is segmented -
1) By Component: Solutions, Service
2) By Function: Virtual Nursing Assistants, Robot-Assisted AI Surgery, Administrative Process Optimization, Medical Imaging Analysis
3) By Application: Medical Imaging, Drug Discovery, Medical Diagnosis, Patient Data Analysis, Other Applications
4) By End-User: Hospitals And Clinics, Clinical Research, Healthcare Organizations, Diagnostic Centers, Other End-Users
Subsegments:
1) By Solutions: Diagnostic Tools, Treatment Planning Systems, Personalized Medicine Platforms, Drug Discovery And Development Solutions, Medical Imaging And Analysis Software, Electronic Health Record (EHR) Enhancement Tools
2) By Services: Consulting Services, Implementation And Integration Services, Training And Education Services, Technical Support And Maintenance, Research And Development Services.
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Which Region Is at the Forefront of the Generative AI in Medicine Market?
North America was the largest region in the generative artificial intelligence (AI) in medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Generative AI in Medicine Global Market Report?
- Market Size Analysis: Analyze the Generative AI in Medicine Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Generative AI in Medicine Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Generative AI in Medicine Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Generative AI in Medicine Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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