The machine-based intelligence which is utilized for automated applications to circumvent repetitious data analysis and assimilation is termed as Artificial Intelligence. The global adoption of AI technology is trending in various industries, especially in the healthcare industry. According to the report, the global Artificial Intelligence in the healthcare market is predicted to reach USD 17.8 billion by 2025, at a growing CAGR of 43.8 percent. The market value was around USD 1.4 billion last year. However, the major concerns in the Healthcare sector across developing countries are an insufficient number of doctors.
According to the report of the World Health Organization (WHO), around 57 countries worldwide are facing a shortage of 2.3 million nurses and physicians. So that it indicates that the demand for improvising healthcare accessibility is currently at its peak. With the integration of AI in the healthcare sector will considerably automate basic medical facilitates. Automation in the healthcare facility is not only constructive to patients but also to the doctors, as it allows them with extra time to focus on decisive cases. Moreover, AI analysis assists in offering generalized advice to patients, as well as the inadequate number of doctors in emerging economies are also driving this market demand on a global scale. Many researchers across the globe are using AI technology in the prediction of the death rate.
However, the lack of skilled medical workforce which can follow prescribed AI software guidelines can impede the overall market. Apart from this, the number of individuals aged 60 or above is also expected to double by 2050. Hence, revolutionizing elderly care products through the integration of AI technology like wireless home monitoring and wearable devices with a personal emergency response system (PERS) is anticipated to provide new growth opportunities throughout the projected timeframe.