The healthcare business is facing a massive transformation through artificial intelligence technology. EY-Parthenon and Microsoft’s latest research shows automated platform use will bring $16.5 billion profits to pharmaceutical companies by 2024 and medical tools will reach $97 billion returns by 2028. The fast growth of AI changes how medication moves from research to patient use and changes medical devices.
Pharma Companies Use AI to Achieve $16.5 Billion Market Value in 2024
The pharmaceutical sector applies artificial intelligence tools to help develop new treatments faster while tailoring treatment plans to each patient. AI models check large datasets faster than humans to shorten the timeline for pharmaceutical research and development. Medical companies apply AI to foresee drug side effects, design medications from scratch and transform older medications for fresh therapeutic uses.
Main industry developments boosting this growth consist of the following:
- By using AI for drug discovery businesses find potential drugs faster which decreases their research and development expenses.
- Medical systems use machine learning to develop unique healthcare tracks that match patient genetic and lifestyle information.
- AI helps the medical sector find patients better while watching treatment trial outcomes in real time to complete tasks quickly.
Medical Devices to Surge to $97B by 2028
AI changes how medical device companies help patients predict or prevent health problems. Medical technology now experiences significant transformation through AI as the system assists surgical robots and creates better diagnostic tools for wearables.
New medical technology relies on AI capability with the following advances:
- AI technology helps doctors spot medical issues sooner through image scanning equipment with better diagnosis results.
- Smart Wearables & Remote Monitoring: Devices that track real-time vitals and alert healthcare providers to potential issues.
- Advanced robotic surgery tools use AI to deliver more precise techniques for hard medical operations.
- AI systems review patient medical records to foresee health problems then recommend therapies before conditions appear.
The Future of AI in Healthcare
The AI revolution in healthcare serves more than financial purposes as it brings intelligent and quick medical care within easier reach. Thanks to investments from technology and healthcare businesses AI will transform me-dical care more in the next few years.
Several problems stand in the way such as ethical issues and data protection risks plus government approval requirements. The ongoing development of AI must follow responsible guidelines to support its healthy expansion.
Final Thoughts
New advances in artificial intelligence are changing both pharma and MedTech industries by letting doctors serve patients better. Healthcare stands at the edge of digital transformation as new AI-powered technologies keep appearing. Businesses and investors need to observe this market because AI is only now starting to transform healthcare.
