Artificial intelligence in healthcare sector market to reach $11.8b by 2027

The medical imaging and diagnostics segment is expected to see significant growth in market share.

The global artificial intelligence (AI) in healthcare sector market is estimated to reach $11.8b by 2027 at a compound annual growth rate of 23.5%.

The report by Technavio revealed that the rising demand for reduced healthcare costs has become a priority of healthcare organisations, leading to the market’s growth.

Meanwhile, the medical imaging and diagnostics segment, including X-rays, CAT scans, and MRIs, is forecasted to experience significant market share growth during the forecast period

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According to the report, almost 90% of healthcare data came from medical imaging.

In addition,  the market sees growth potential for AI-based tools in elderly care as the number of people aged 60 and above is estimated to nearly triple between 2000 and 2050, prevalent in countries such as Japan and China.