Artificial Intelligence in Medicine Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The artificial intelligence in medicine market size has grown exponentially in recent years. It will grow from $11.19 billion in 2024 to $15.66 billion in 2025 at a compound annual growth rate (CAGR) of 39.9%. The growth in the historic period can be attributed to increased emphasis on ensuring patient well-being and relative shortage of physicians, increase of skilled healthcare professionals, increase in the processing power of ai systems.

The artificial intelligence in medicine market size is expected to see exponential growth in the next few years. It will grow to $58.37 billion in 2029 at a compound annual growth rate (CAGR) of 39%. The growth in the forecast period can be attributed to rising prevalence of chronic diseases, growing emphasis on the adoption of digital transformation practices. Major trends in the forecast period include development of medical robots, introducing patient management application to witness significant growth, ai in drug discovery and advance precision medicine.

The growing interest in real-time remote patient monitoring (RPM) systems is driving advancements in artificial intelligence (AI) within the medical field. RPM systems allow healthcare providers to monitor patients’ health remotely, facilitating continuous care beyond traditional healthcare settings. AI in medicine enhances RPM by processing large volumes of patient data, enabling predictive insights, detecting potential health issues early, and supporting personalized care plans. For instance, Statistics Canada reported in November 2024 that Canadians in British Columbia (73.8%) and Newfoundland and Labrador (70.7%) had high usage of virtual consultations, highlighting the shift towards remote and virtual healthcare. This increasing interest in RPM systems is consequently fueling growth in AI applications within the medical industry, supporting more responsive and data-driven healthcare delivery.

Leading companies operating in the artificial intelligence in the medicine market are directing their efforts towards the development of innovative solutions, exemplified by AI-powered platforms, to deliver reliable services to customers. An AI-powered platform refers to a software solution that incorporates artificial intelligence (AI) technologies to automate tasks, analyze data, and make predictions. In April 2023, OM1 Inc., a U.S.-based digital health company, introduced PhenOM. Leveraging real-world data and advanced analytics, PhenOM identifies unique digital phenotypes associated with conditions and outcomes, creating distinct fingerprints for different patient groups. This platform analyzes individual patient data to predict risks, identify opportunities for intervention, and inform treatment decisions.

In July 2024, GE HealthCare, a U.S.-based medical technology company, acquired the clinical artificial intelligence (AI) software business of Intelligent Ultrasound Group PLC for approximately $51 million. This acquisition aligns with GE HealthCare’s strategy to strengthen its ultrasound portfolio by incorporating advanced AI-driven image recognition technology, enhancing the accuracy and efficiency of ultrasound exams in patient care. Intelligent Ultrasound Group PLC, based in the U.K., specializes in AI-based clinical image analysis tools designed to support diagnostic ultrasound, making it a valuable addition to GE HealthCare’s expanding capabilities in medical imaging.

Major companies operating in the artificial intelligence in medicine market report are Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Medtronic PLC, Nvidia Corporation, Novo Nordisk A/S, Siemens Healthineers AG, Philips Healthcare, Babylon Healthcare Services Ltd., Komodo Health Inc., Modernizing Medicine Inc., Viz.ai Inc., Butterfly Network Inc., Augmedix, AiCure LLC, HealthTap Inc., Welltok Inc., Enlitic Inc., PathAI Inc., Nano-X Imaging Ltd., Berg LLC, Insitro, Sense.ly Inc., Subtle Medical Inc., Medasense Biometrics Limited, Immunai, Atomwise Inc., Freenome Holdings Inc., CloudMedX Inc.

North America was the largest region in the artificial intelligence in medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence (AI) in the medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The artificial intelligence (AI) in the medicine market consists of revenues earned by entities by providing services such as diagnostic assistance, drug discovery and development, patient management, and monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence (AI) in the medicine market also includes sales of diagnostic imaging devices, smart medical devices, and genomic sequencing equipment. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Artificial intelligence in medicine involves the application of technologies such as machine learning and data analysis to improve diagnosis, treatment, and healthcare management. It facilitates faster and more accurate disease detection, personalized treatment plans, and increased overall efficiency in medical processes.

The primary types of artificial intelligence in medicine encompass hardware, software, and services. Hardware components, including multi-purpose computers, embedded motherboards, and fanless embedded systems, serve as crucial building blocks for medical devices relying on AI. Various technologies, such as machine learning, natural language processing, context-aware processing, and computer vision, find applications in medical administration and support, patient management, research and development, and other domains. These applications cater to diverse end-users, including hospitals, clinics, and research institutions.

The artificial intelligence in medicine market research report is one of a series of new reports that provides artificial intelligence in medicine market statistics, including artificial intelligence in medicine industry global market size, regional shares, competitors with artificial intelligence in medicine market share, detailed artificial intelligence in medicine market segments, market trends, and opportunities, and any further data you may need to thrive in the artificial intelligence in medicine industry. This artificial intelligence in medicine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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