Market Overview

Healthcare Artificial Intelligence Software, Hardware, and Services Market to Surpass $34 Billion Worldwide by 2025, According to Tractica

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Medical Image Analysis, Healthcare Virtual Assistants, Computational
Drug Discovery, Medical Treatment Recommendation, and Patient Data
Processing Will Lead Adoption, Among 22 Key Use Cases for Healthcare AI

The healthcare industry has undergone a significant evolution over the
past several years, moving from an antiquated, paper-based records
system to a more efficient and integrated system that often incorporates
physical, payer, and patient-generated health data. This explosion of
data means there is a strong need for systems that not only will help
extract and organize this information, but will also analyze and even
provide insights and recommendations on how best to utilize the data.
According to a new report from Tractica,
artificial intelligence (AI) is being increasingly used to improve the
depth of data analytics capabilities, in addition to automating key
healthcare-related tasks.

Tractica forecasts that global software revenue from 22 key healthcare
AI use cases will grow from $511.7 million in 2018 to $8.6 billion
annually by 2025. Including the hardware and services sales that will be
driven by these software implementations, the market intelligence firm
anticipates that the total revenue opportunity for the healthcare AI
market will surpass $34 billion by 2025.

Tractica projects that the top 10 use cases for healthcare AI will be as
follows:

1. Medical image analysis
2. Healthcare VDAs
3. Computational
drug discovery and drug effectiveness
4. Medical treatment
recommendation
5. Patient data processing
6. Medical diagnosis
assistance
7. Converting paperwork into digital data
8.
Automated report generation
9. Hospital patient management system
10.
Biomarker discovery

"It is no secret that healthcare is expensive," says principal analyst
Keith Kirkpatrick. "Cost reduction is a major driver of many healthcare
initiatives and incorporating AI technology is no exception. AI
applications are designed to address specific, real-world use cases that
make the diagnosis, monitoring, and treatment of patients more
efficient, accurate, and available to populations around the world."

Tractica's report, "Artificial
Intelligence for Healthcare Applications"
, focuses on 22
healthcare-focused use cases for artificial intelligence, including an
assessment of the market opportunity for AI software, hardware, and
services in the healthcare market. The market analysis and forecasts
within the study cover industry dynamics in five major world regions and
are based on an in-depth assessment of major companies as well as
startup-level activity in the healthcare AI space. Revenue forecasts for
each use case are segmented by world region, and the study also includes
profiles of 22 key industry players. An Executive Summary of the report
is available for free download on the firm's website.

About Tractica

Tractica is a market intelligence firm that focuses on human interaction
with technology. Tractica's global market research and consulting
services combine qualitative and quantitative research methodologies to
provide a comprehensive view of the emerging market opportunities
surrounding Artificial Intelligence, Robotics, User Interface
Technologies, Wearable Devices, and Digital Health. For more
information, visit www.tractica.com
or call +1.303.248.3000.

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