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How Artificial Intelligence is Bolstering Impressive Billion Dollar Growth Opportunities in Healthcare Sector

PR Newswire - Tue Sep 12, 7:45AM CDT News Commentary

PALM BEACH, Fla., Sept. 12, 2023 /PRNewswire/ -- Artificial Intelligence (AI) and machine learning (ML) algorithms are being widely adopted and integrated into healthcare systems to accurately predict diseases in their early stage based on historical health datasets. The growing datasets of patient health-related digital information, increasing demand for personalized medicine, and the rising demand for reducing care expenses are some of the major driving forces of the market growth. The growing global geriatric population, changing lifestyles, rising prevalence of chronic diseases has contributed to the surge in demand for diagnosing and improved understanding of diseases in their initial stages. A report from Grand View Research projected that the global artificial intelligence in healthcare market size was valued at USD 15.4 billion in 2022 is expected to expand at a compound annual growth rate (CAGR) of 37.5% from 2023 to 2030. The report said: "AI algorithms can be trained to analyze patient health information which further supports care providers in quickly diagnosing the condition and devising an accurate treatment regime. Supportive government initiatives, the rising number of mergers and acquisitions and technological collaborations, and the ongoing Covid-19 pandemic had a significant role in boosting the growth of the market and accelerating the adoption rate of AI in healthcare." Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), IBM (NYSE: IBM), Alphabet Inc. (NASDAQ: GOOG), Medtronic plc (NYSE: MDT), Stryker Corporation (NYSE: SYK).


Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.