Artificial Intelligence (AI) in Healthcare Market to Grow at a CAGR of 49.8% to reach US$ 107,797.82 Million from 2020 to 2027

Artificial intelligence in healthcare is the use of machine-learning algorithms and software to analyze, process and present complex medical and health care data. It has been widely used to support clinical decisions, improve workflows and predict health outcomes. Thus, wide application of AI in the healthcare sector is likely to propel the growth of the market. The growth of the artificial intelligence in healthcare market is attributed to the rising application of artificial intelligence in healthcare, growing investment in AI healthcare start-ups, and increasing cross-industry partnerships and collaborations. However, dearth of skilled AI workforce and imprecise regulatory guidelines for medical software is the major factor hindering the market growth.