The healthcare-focused artificial intelligence market is expected to see exponential growth through 2025, according to a report published by MarketsandMarkets.
Here are six key trends:
1. The AI in healthcare market was valued at $2.1 billion in 2018.
2. It is expected to grow to $36.1 billion by 2025, at a compound annual growth rate of 50.2 percent during the forecast period.
3. North America will likely to experience the highest CAGR through 2025.
4. Machine learning is anticipated to hold the largest share of the market, followed by natural language processing.
5. The availability of large and complex datasets as well as the need to drive down healthcare costs will encourage market growth.
6. However, reluctance to adopt AI-based technologies and the lack of skilled workforce will hinder market growth.