Medical Devices and Healthcare IT

Global healthcare AI market continues steady growth

25 March 2022

According to Trends Market Research (TMR), the global healthcare artificial intelligence (AI) market was worth $0.95 billion in 2017 and is predicted to increase at a compound annual growth rate (CAGR) of 39.7% to $19.25 billion by 2026. AI applications are becoming more prevalent, and advances in data analytics are propelling the market forward. However, the market's expansion is hampered by the large capital requirements.

Hospitals and diagnostic centers expect substantial growth during the forecast period due to rising execution of AI technology for patient data collection to support decision making. Positive hospital workflows reducing wait times and lowering costs are some of the factors driving the market growth.

Due to increasing R&D expenditure, improvements in the pharmaceutical and biotechnology sectors, Pacific Asia holds the biggest market share for the projection period.

Read the details of the TMR AI healthcare report here.

To contact the author of this article, email

Powered by CR4, the Engineering Community

Discussion – 0 comments

By posting a comment you confirm that you have read and accept our Posting Rules and Terms of Use.
Engineering Newsletter Signup
Get the Engineering360
Stay up to date on:
Features the top stories, latest news, charts, insights and more on the end-to-end electronics value chain.
Weekly Newsletter
Get news, research, and analysis
on the Electronics industry in your
inbox every week - for FREE
Sign up for our FREE eNewsletter
Find Free Electronics Datasheets