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The global healthcare artificial intelligence (AI) market is expected to grow at a CAGR of 41.4% from 2020 to 2027 to reach $51.3 billion by 2027.
The growth in the healthcare artificial intelligence market is mainly attributed to the factors such as rising venture capital investment for artificial intelligence in healthcare sector, growing demand for personalized therapy, positive impact due to COVID-19, rising demand to reduce healthcare costs, and rise in volume and complexities in healthcare datasets. Moreover, the growing potential of AI based tools for treatment of chronic illness and its growing implementation in clinical trials provide growth opportunities for players operating in the healthcare artificial intelligence market.