Generative AI in Medicine Market Size Forecasted To Achieve $4.02 Billion By 2029 With Steady Growth

The Generative AI in Medicine Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Generative AI in Medicine Market Size and Projected Growth Rate?
The generative AI in medicine market size will grow from $0.66 billion in 2024 to $0.95 billion in 2025, with a CAGR of 43.9%. The historic growth can be attributed to advances in computational power and machine learning algorithms, the growth of precision medicine, higher demand for drug discovery, increased adoption of AI in diagnostic imaging, and growing investment in AI research and development.

The generative AI in medicine market size is expected to grow to $4.02 billion in 2029 at a CAGR of 43.5%. The growth is fueled by high-quality medical data availability, focus on preventive healare, efficient clinical trials, demand for AI patient engagement tools, and AI for drug repurposing. Key trends include technological advancements, telemedicine, personalized medicine, predictive analytics, and wearable health technology.

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What Are the Major Segments 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, Healare 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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What Are The Driving Generative AI in Medicine Market Evolution?
The increase in digital health records is expected to support the generative AI in medicine market. These records store patient information electronically, promoting better healare outcomes and more efficient services. The surge is driven by technological progress, regulatory backing, and greater patient involvement. Generative AI improves EHRs by automating input, generating summaries, and offering predictive analytics. According to the European Commission in July 2024, access to electronic health records rose from 72% in 2023 to 79% in 2024. This growth is contributing to the expansion of generative AI in medicine.

Which Firms Dominate The Generative AI in Medicine Market Segments?
Major companies operating in the generative AI in medicine market are Microsoft Corporation, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Philips Healare, 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.

What Are the Latest Developing Trends in the Generative AI in Medicine Market?
Companies in the generative AI for medicine market are focusing on AI solutions for brain health and wellness to improve cognitive assessments, patient care, and mental health management. For example, in February 2024, DiagnaMed launched CERVAI, an AI solution designed to assess cognitive function and mental well-being using advanced algorithms. This solution analyzes data from cognitive tests and brain imaging, providing personalized recommendations for early detection of cognitive issues.

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Which Is The Largest Region In 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Generative AI in Medicine Market?
2. What is the CAGR expected in the Generative AI in Medicine Market?
3. What Are the Key Innovations Transforming the Generative AI in Medicine Industry?
4. Which Region Is Leading the Generative AI in Medicine Market?

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