AI platforms for healthcare industry to touch $4.3 bn in 2024 By CIOTechOutlook Team

AI platforms for healthcare industry to touch $4.3 bn in 2024

CIOTechOutlook Team | Tuesday, 21 March 2023, 02:54 IST

As per the estimates, the market for artificial intelligence (AI) platforms for the overall healthcare sector is expected to increase from $1.5 billion in 2019 to $4.3 billion in 2024.

Based on an analysis by GlobalData, a data and analytics company, this is due to the increased integration of digital health tools and technology like AI and Machine Learning (ML) into the healthcare industry as a result of the impact of the Covid-19 outbreak.

Many healthcare organisations are already integrating cutting-edge technology into their current healthcare systems.

The French biotechnology company Genomic Vision has just released FiberSmart, a new technology that enables the visualisation and analysis of long DNA fibres at high resolution. Genomic Vision specialises in the development and commercialization of diagnostic solutions for genetic diseases and cancers.

Genomic Vision claims that FiberSmart has the potential to improve the accuracy and efficiency of genetic disease diagnosis and treatment, leading to better patient outcomes and reduced healthcare costs.

"The integration of digital health tools and technologies such as AI and ML to analyse large amounts of data and identify patterns and insights is transforming the healthcare industry and paving the way for more personalised and efficient healthcare," Kamilla Kan, Medical Analyst at GlobalData, said in a statement.

Furthermore, AI is being used to improve the accuracy and efficiency of diagnoses, identify new treatments and therapies, and even predict and prevent disease outbreaks.

"The growing market for AI platforms in healthcare reflects the increasing demand for innovative solutions that can improve patient outcomes and reduce costs," Kan said.