Healthcare Artificial Intelligence Software, Hardware, and Services Market to Reach $19.3 Billion Worldwide by 2025

Healthcare has undergone a transformation over the past several years, shifting from paper-based records systems to electronic records, as well as incorporating digital health monitoring devices and other advanced patient screening systems. These advances have led to an explosion of data, which can best be manipulated and analyzed by artificial intelligence (AI) technology. In healthcare, according to a new report from Tractica, AI is largely being implemented as a tool to more efficiently and accurately review data, and uncover patterns in the data that can be used to improve analyses, uncover inefficiencies, and streamline care, from both a clinical and an operational perspective. The market intelligence firm finds that the overarching driver in these AI implementations is to provide better care for patients, while reducing costs and administrative headaches and bottlenecks. Tractica forecasts that global software revenue from 21 key healthcare AI use cases will grow from $165 million in 2017 to $5.6 billion annually by 2025.