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AI in healthcare market to record USD 11.827B growth from 2023-27

The global artificial intelligence (AI) in healthcare sector market size is estimated to grow by USD 11.827 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 23.5% during the forecast period.

Major challenges:

  • Physician and provider skepticism
    • AI in healthcare can change how patients are treated by offering connected services. There aren’t enough doctors, so AI is becoming important. But most doctors aren’t sure about it. AI can help diagnose better and let doctors focus on serious cases. However, AI tools are still new and haven’t become normal yet.
    • To make AI better, tech companies need to improve their products. Trust is important in healthcare, and AI might affect trust between patients and doctors. Doctors worry about AI tools handling private info. They don’t trust biased results from tech companies. They prefer tools from hospitals or the government.
    • Even though AI can improve diagnoses and help with serious cases, doctors aren’t comfortable using it yet. This could be because AI tools are still new and there are privacy and bias concerns. Doctors being unsure about AI could slow down its use in healthcare.

Market overview
Artificial Intelligence (AI) is revolutionizing the healthcare sector with its advanced capabilities. The AI market in healthcare is growing significantly, with applications ranging from patient monitoring and diagnosis to treatment plans and drug discovery.

AI technologies like machine learning, deep learning, and natural language processing are used to analyze medical data, identify patterns, and make informed decisions. AI-powered systems can help healthcare providers deliver personalized care, improve patient outcomes, and reduce costs.

The future of AI in healthcare is bright, with potential applications in telemedicine, mental health, and elderly care. The market for AI in healthcare is expected to reach new heights in the coming years, as technology continues to advance and healthcare needs evolve. Technavio

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