AI in healthcare market size worldwide 2030

In 2021, the artificial intelligence (AI) in healthcare market was worth around 11 billion U.S. dollars worldwide. It was forecast that the global healthcare AI market would be worth almost 188 billion U.S. dollars by 2030, increasing at a compound annual growth rate of 37 percent from 2022 to 2030.

Uses of AI in healthcare

As of 2021, around a fifth of healthcare organizations worldwide which were surveyed indicated they were in an early stage of adoption in regard to AI models. This meant that their models had been in production for less than two years. Fewer than ten percent of healthcare organizations had been utilizing AI for more than five years. The most common type of AI software in use in healthcare was functions related to healthcare data integration and natural language processing (NLP). The main intended users of AI among organizations in the mature stage of adoption were clinicians and providers, although 60 percent also reported that patients should be able to use the AI technologies implemented.

Time saved with AI

In Europe, it was estimated that a physician's working time was approximately used 50-50 between treating patients and administrative tasks. However, with the implementation of AI in healthcare, it was forecast physicians would be able to spend almost 20 percent more of their time on patients because the time burden of administrative tasks would be reduced. Furthermore, it was forecast that nurses would be able to spend around eight percent more of their time with patients due to the reduction in time expended on administrative and regulatory activities.