Healthcare Generative AI Predicted to Reach $22B by 2032

The healthcare generative AI market is projected to reach $22 billion by 2032, driven by strategic partnerships and AI solutions in drug discovery, diagnostics, patient care, and claims management. The Generative AI Tracker, a collaboration between Pymnts and AI-ID, reports the market exceeded $1 billion in 2022. Technology companies and healthcare providers are collaborating to train large language models on healthcare data. While generative AI is reshaping diagnostics and care delivery, further development is needed, including robust benchmarks and addressing regulatory challenges. Startups like Epic, Huma, Tempus, and others are poised to transform healthcare with generative AI, offering more efficient and personalized care. However, barriers include resource limitations, expertise gaps, and regulatory hurdles. Generative AI holds promise for improving clinical decision-making and healthcare policy in the long term.