AI's Transformative Role in Healthcare: Market Trends and Insights
The AI in Healthcare Market is projected to grow from USD 14.6 Billion in 2023 to USD 102.7 Billion by 2028; it is expected to grow at a CAGR of 47.6% during the forecast period. The generation of large and complex healthcare datasets, an increasing number of partnership and collaboration strategies are factors expected to boost the growth of the AI in Healthcare market in the next five years. However, medical practitioners’ reluctance to adopt AI-based technologies and chief concern regarding data privacy are projected to be the key challenges and restraining factors for the industry players. Key players operating in the market include Intel Corporation (US), Koninklijke Philips N.V., (Netherlands), Microsoft (US), Siemens Healthineers (Germany), and Nvidia Corporation (US), among others. The AI in the healthcare market is highly competitive with several global market players. Product launches and developments, acquisitions, collaborations, a