The global AI Healthcare market is expected to experience significant growth in the coming years, according to experts. Reports from Statista and MarketsAndMarkets project substantial increases in market value, with Statista forecasting a value of nearly 188 billion U.S. dollars by 2030 and MarketsAndMarkets estimating a market size of USD 148.4 billion by 2029. The growth of AI in healthcare is attributed to factors such as the generation of large healthcare datasets, the need to reduce costs, advancements in computing power, and collaborations within the healthcare sector.
One key area driving growth in AI healthcare is the integration of non-procedural languages, which enhances model explainability, streamlines workflows, and focuses on core clinical knowledge. This shift is expected to drive growth in clinical decision support systems, medical imaging analysis, personalized medicine, and public health initiatives. Despite challenges, the benefits of non-procedural languages are seen as a promising avenue for improving patient care and outcomes.
Several active tech companies in the market this week include Treatment AI, Inc., WELL Health Technologies Corp., HEALWELL AI INC., NVIDIA Corporation, and Veeva Systems. These companies are at the forefront of developing innovative solutions to drive advancements in AI healthcare.
Natural Language Processing (NLP) is another key technology that is revolutionizing healthcare delivery by enabling computers to analyze, generate, and translate human language. NLP plays a crucial role in analyzing patient data and risk assessment within AI healthcare, providing clinicians with valuable insights from unstructured data. The accumulation of diverse patient information through advanced technologies is driving AI applications, facilitating diagnostics, personalized medicine, and treatment planning.
In a recent development, Treatment AI Inc. announced a Collaborative Agreement with Novus Health to enhance the utilization of its Global Library of Medicine (GLM) in health risk assessment programs. This partnership aims to leverage Treatment’s AI diagnostic tools to improve healthcare efficiency and patient outcomes.
In conclusion, the growth of AI in healthcare is driven by technological advancements, the need for cost reduction, and the integration of innovative solutions. Companies in the market are focused on developing cutting-edge technologies to revolutionize healthcare delivery and improve patient care.