Artificial Intelligence in Healthcare Market to Grow at a CAGR of 48% by 2023: Driven by the Rise in Adoption Rate of AI Systems - Research and Markets

DUBLIN--(BUSINESS WIRE)--The "Artificial Intelligence in Healthcare Market by Offering - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to Research and Markets' offering. The global AI market was valued at $1,441 million in 2016, and is estimated to reach at $22,790 million by 2023, registering a CAGR of 48.0% from 2017 to 2023. The market growth is driven by rise in adoption rate of AI systems and delete technological advancements in the AI field. In addition, the ability of these systems to improve patient outcomes, increase in adoption of precision medicine, and increase in need for coordination between healthcare workforce & patients are expected to fuel the market growth. However, lack of standard regulations and guidelines and reluctance among healthcare professionals to adopt AI-based technologies are expected to hinder the market growth. The deep learning segment accounted for the highest share in 2016 and is expected to dominate the market from 2017 to 2023, owing to increase in use of signal reduction, data mining, and image recognition.