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AI in healthcare market to hit USD 286.77B by 2031

SkyQuest projects that the artificial intelligence (AI) in healthcare market will attain a value of USD 286.77 billion by 2031, with a CAGR of 38.1% over the forecast period (2024-2031). High proliferation of digital technologies in the healthcare industry and rising acceptance of AI healthcare solutions are driving artificial intelligence (AI) in healthcare market growth. Growing demand for precision medicine and predictive analytics are also estimated to boost artificial intelligence (AI) in healthcare demand going forward.

Innovative use of AI in medical applications allows software segment to dominate the market
AI-powered software solutions are gaining massive traction in the healthcare industry such as AI-powered medical imaging software. Easy integration of artificial intelligence algorithms in medical software solutions and high scalability and flexibility of the same allow this segment to hold sway over the global artificial intelligence (AI) in healthcare market.

Improved diagnostic accuracy by the deployment of deep learning algorithms makes it the fastest-growing segment
Deep learning is a subset of machine learning and utilization of these algorithms facilitates better decision-making, improved diagnostic accuracy, and better treatment planning. Growing emphasis on improving patient outcomes by utilizing healthcare data and running it through deep learning algorithms will also bolster market growth in the future.

Adoption of value-based care models allowing North America to hold a dominant stance
North America is estimated to hold a high share of the global artificial intelligence (AI) in healthcare market across the forecast period. High healthcare expenditure, developed healthcare infrastructure, and rising acceptance of advanced technologies such as AL and ML in the healthcare industry are helping this region maintain its dominance. The rising popularity of home healthcare and the rapidly expanding senescent population in the United States makes it the foremost market in North America. SkyQuest Technology

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