What Is Driving Global Artificial Intelligence in Healthcare Market Growth in 2025: The Role of Precision Medicine Adoption Fuels The Growth Of Artificial Intelligence In Healthcare

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Artificial Intelligence in Healthcare Market Size Growth Forecast: What to Expect by 2025?
The expansion of the artificial intelligence industry in healthcare has seen tremendous growth recently, escalating from a market size of $18.16 billion in 2024 to an anticipated $24.1 billion in 2025, with a compound annual growth rate (CAGR) of 32.7%. The substantial growth witnessed in previous years can be credited to factors such as the increased frequency of collaborations and partnerships, the uptick in chronic diseases, the adoption of AI in radiology, the growing utilization of artificial intelligence for economical drug discovery, and boosted investment into healthcare-focused AI.

How Will the Artificial Intelligence in Healthcare Market Size Evolve and Grow by 2029?
In the coming years, the market value of artificial intelligence in healthcare is projected to experience significant expansions, with expectations to reach $72.03 billion by 2029, indicating a compound annual growth rate (CAGR) of 31.5%. This substantial growth anticipated in the forecast period is due to a rise in the elderly population, the progressive acceptance of digital shift in healthcare, and the upscaling of government schemes that back the implementation of artificial intelligence in healthcare. Major propellers influencing the forecasted growth are the deployment of AI in carrying out clinical trials and the treatment of rare diseases, AI's increasing role in drug adherence and target selection, the use of AI-based models in preliminary clinical studies, increased investments in biotech firms majoring in AI, a surge in merger and acquisition activities, the expanding function of Contract Research Organizations (CROs) in AI ecosystems, as well as the advent of new AI tools and innovation labs.

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What Drivers Are Propelling the Growth of Artificial Intelligence in Healthcare Market Forward?
The surge in precision medicine uptake is a key force propelling the usage of artificial intelligence in the healthcare sector. Precision medicine harnesses details about a person's genes, environmental and lifestyle variations to enhance and tailor diagnostic procedures and treatments. It has extensive use in handling cancer cases, and with cancer's escalating incidence and the growing number of people it affects, the call for AI in precision medicine is expected to rise in the future. For example, the Personalized Medicine Coalition, a non-profit organization based in the US, reported that the FDA gave authorization for 16 innovative personalized therapies for patients with rare diseases in 2023, a significant jump from six in 2022. As a result, the escalating adoption of precision medicine is propelling the expansion of artificial intelligence in the healthcare market.

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Which Emerging Trends Are Transforming the Artificial Intelligence in Healthcare Market in 2025?
Companies in the AI for healthcare market are noticing the emergence of innovative AI tools that prove invaluable for pharmaceutical organizations. These large entities are concentrating their efforts on unveiling new AI-integrated tools specifically for the drug discovery market. Significant effort is being invested by scientific communities in these firms to launch unique tools that will bolster the international campaign for developing COVID-19 treatment. To illustrate, the Aster Innovation and Research Centre, the innovation core of Aster DM Healthcare Group joined forces with Intel Corporation and AI platform provider, CARPL.ai, in July 2022 to design and implement an AI-driven health data platform in India.

What Are the Key Segments in the Artificial Intelligence in Healthcare Market?
The artificial intelligence in healthcaremarket covered in this report is segmented -

1) By Offering: Hardware, Software, Services
2) By Algorithm: Deep Learning, Querying Method, Natural Language Processing, Context Aware Processing
3) By Application: Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Dosage Error Reduction, Clinical Trial Participant Identifier, Preliminary Diagnosis
4) By End-User: Hospitals And Diagnostic Centers, Pharmaceutical And Biopharmaceutical Companies, Healthcare Payers, Patients

Subsegments:
1) By Hardware: AI-Powered Imaging Devices, Wearable Health Monitoring Devices, Robotics And Surgical Devices
2) By Software: Diagnostic Software, Predictive Analytics Software, Natural Language Processing (NLP) Software
3) By Services: Consulting Services, Implementation Services, Maintenance And Support Services

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Who Are the Key Players Shaping the Artificial Intelligence in Healthcare Market's Competitive Landscape?
Major companies operating in the artificial intelligence in healthcare market include IBM Watson Health, Nuance Communications, Inc, Alphabet Inc, Concreto HealthAI, Nvidia Corporation, PathAI, XtalPi, Benevolent AI, Exscientia, OWKIN, LiveHealth, ChironX, Consure Medical, Predible Health, Lybrate, Artelus, OncoStem Qure.ai, Jiaxing Taimei Medical Technology, Ping An Health Medical Technology, YITU, iCarbonX, Insilico, Skin Analytics, Babylon Health, Cambridge Cognition, Renalytix AI, Iktos, Novartis, Gero, Ardigen, Botkin, Webiomed, Care Mentor AI, Diagnocat, Atomwise Inc, Cloud Pharmaceuticals, Bioage, NuMedii, Envisagenics, Aria Pharmaceuticals, Verge Genomics, Berg LLC, Deep Genomics, Cyclica, IQVIA, Roche, Pfizer, PRA Healthscience, Gesto, Intensicare, Didoc, Betterfly, Deenty, Examedi, Dentalink, Cero, MedPass, Pixeon, Hi Technologies, Conexa Saude, Wuru, Yerbo, BioScience, Caecus, Epitrack, GE Healthcare, Oncora Medical, Recursion Pharmaceuticals Inc, Nucleai, Pepticom, AstraZeneca, Rology, HearX Group, DilenyTech, iNNOHEALTH Technology Solutions

What Geographic Markets Are Powering Growth in the Artificial Intelligence in Healthcare Market?
North America was the largest region in the Artificial Intelligence in the Healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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