SAN FRANCISCO, April 28, 2025 /PRNewswire/ -- The global AI in healthcare market size is expected to reach USD 187.7 billion by 2030, registering a CAGR of 38.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. A key element propelling market expansion is the rising requirement within the healthcare industry for improved efficiency, precision, and enhanced patient results. AI technologies possess the ability to revolutionize multiple domains such as medical imaging assessment, predictive analytics, tailored treatment strategies, and drug development, with the potential to change traditional healthcare methods. In addition, artificial intelligence enhances the in-depth comprehension of disease mechanisms and patient conditions, enhancing precision medicine and precision public healthcare initiatives.
The rapid expansion of healthcare data, derived from electronic health records, medical imaging studies, wearables, and genomic sequencing, offers substantial prospects for AI-driven solutions to generate actionable insights and aid in clinical decision-making. Moreover, the expanding domain of life sciences research and development presents a wealth of prospects for market expansion, largely due to AI's capacity to analyze extensive amounts of complex data. This proficiency not only speeds up the development of new hypotheses but also expedites the procedures for drug discovery and repurposing, while considerably lowering expenses and time to market by leveraging in silico techniques. AI-driven technologies are utilized across multiple areas of healthcare, such as virtual assistants, robotic surgery assistance, claims processing, cybersecurity, and patient administration.
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AI algorithms are developed by leveraging patient health data to enhance disease identification and early detection, which allows for the prompt commencement of treatment plans. Crucial factors fueling market expansion include supportive government programs, financial backing, an increasing influx of investments from private investors and venture capitalists, and the rise of startups focused on AI worldwide. For instance, Xaira Therapeutics, an AI-driven drug discovery startup, secured USD 1 billion in funding in April 2024 from investors including ARCH Venture Partners and Foresite Labs. Xaira Therapeutics aims to revolutionize drug development using AI-powered molecular design. In June 2024, Formation Bio, an AI-driven pharmaceutical firm, secured USD 372 million in Series D funding, with contributions from Sanofi, Sequoia, and additional investors.
The rise of numerous startups in the AI healthcare sector is another major factor contributing to industry expansion. Their involvement boosts investment, promotes technological progress, and broadens the range of AI applications within healthcare. The combined initiatives of these startups generate momentum in the AI healthcare market, leading to increased innovation, efficiency, and efficacy in the provision of healthcare solutions.
Read full market research report on AI In Healthcare Market with TOC - AI In Healthcare Market Size, Share & Trends Analysis Report By Component (Hardware, Services), By Application, By End-use, By Technology, By Region, And Segment Forecasts, 2024 - 2030
AI In Healthcare Market Report Highlights:
- Based on component, software solutions led the global market in 2023, contributing a market share of 46.3%. This significant share can be attributed to the extensive utilization of AI-driven software solutions by healthcare providers, insurers, and patients.
- In terms of application, robot-assisted surgery led the market in 2023, contributing the largest market share. The segment is also expected to register the fastest CAGR over the projected period. An increase in the number of robot-assisted surgeries and growing investments in creating new AI platforms are several essential elements driving the integration of AI in robot-assisted surgical procedures.
- Based on technology, machine learning (ML) dominated the market with the largest revenue share in 2023. This large share is due to the progress in machine learning algorithms in diverse applications.
- The healthcare payers end use segment is projected to witness the fastest CAGR over the forecast period.
- In 2023, North America led the market, capturing more than 45% of the share due to developments in healthcare IT systems, a willingness to embrace new technologies, the involvement of numerous major players, an increasing elderly population, and a rise in chronic disease cases.
AI In Healthcare Market Segmentation
Grand View Research, Inc. has segmented the global AI in healthcare market based on component, application, technology, end use, and region:
AI In Healthcare Market - Component Outlook (Revenue, USD Million, 2018 - 2030)
- Hardware
- Processor
- MPU (Memory Protection Unit)
- FPGA (Field-programmable Gate Array)
- GPU (Graphics Processing Unit)
- ASIC (Application-specific Integrated Circuit)
- Memory
- Network
- Adapter
- Interconnect
- Switch
- Software Solutions
- AI Platform
- Application Program Interface (API)
- Machine Learning Framework
- AI Solutions
- On-premise
- Cloud-based
- Services
- Deployment & Integration
- Support & Maintenance
- Others (Consulting, Compliance Management, etc.)
AI In Healthcare Market - Application Outlook (Revenue, USD Million, 2018 - 2030)
- Robot-assisted Surgery
- Virtual Assistants
- Administrative Workflow Assistants
- Connected Medical Devices
- Medical Imaging & Diagnostics
- Clinical Trials
- Fraud Detection
- Cybersecurity
- Dosage Error Reduction
- Precision Medicine
- Drug Discovery & Development
- Lifestyle Management & Remote Patient Monitoring
- Wearables
- Others (Patient Engagement, etc.)
AI In Healthcare Market - Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Machine Learning
- Deep Learning
- Supervised
- Unsupervised
- Others (Reinforcement Learning, Semi-supervised)
- Natural Language Processing
- Smart Assistance
- OCR (Optical Character Recognition)
- Auto Coding
- Text Analytics
- Speech Analytics
- Classification & Categorization
- Context-aware Computing
- Computer Vision
AI In Healthcare Market - End Use Outlook (Revenue, USD Million, 2018 - 2030)
- Healthcare Providers (Hospitals, Outpatient Facilities, and Others)
- Healthcare Payers
- Healthcare Companies (Pharmaceutical, Biotechnology, Medical Devices)
- Patients
- Others
AI In Healthcare Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Singapore
- South Korea
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players in the AI In Healthcare Market
- Microsoft
- IBM
- NVIDIA Corporation
- Intel Corporation
- Itrex Group
- GE Healthcare
- Medtronic
- Oracle
- Medidata
- Merck
- IQVIA
Check out more related studies published by Grand View Research:
- Generative AI In Healthcare Market - The global generative AI in healthcare market size is expected to reach USD 14.77 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a compound annual growth rate (CAGR) of 36.7% from 2023 to 2030.
- Agentic AI In Healthcare Market - The global agentic AI in healthcare market size is anticipated to reach USD 4.96 billion by 2030 and is projected to grow at a CAGR of 45.56% from 2025 to 2030, according to a new report by Grand View Research, Inc. Growing focus on personalized treatments, increasing shift to proactive care promoting better health outcomes, rising need for diagnostic accuracy, and growing focus on cost reduction are some of the factors contributing to market growth.
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About Grand View Research
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