The worldwide AI medical market is estimated to reach US$10 billion in 2024 with a CAGR (Compound Annual Growth Rate) of 34% between 2017 and 2024, according to the Taipei-based government-backed IT research institute MIC (Market Intelligence & Consulting Institute). "This indicates a rapid growth of AI in the smart medical market," says ShihZong Huang, industry analyst with MIC.

"As a leading country in the global medical industry, Taiwan not only has a complete medical system but also a cluster of physicians with ability to provide the highest level and quality of medical care services and has set a benchmark in medical digital transformation worldwide."

Global Top 10 AI Medical Brands by Product/Service Category

Source: MIC, December 2018

To see more about this report, please visit: Artificial Intelligence in Medical Applications: Global Trends and Major Players

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About MIC

Market Intelligence & Consulting Institute (MIC), based in Taipei, Taiwan, was founded in 1987. MIC is Taiwan's premier IT industry research and consulting firm providing intelligence, in-depth analysis, and strategic consulting services on global IT product and technology trends, focusing on markets and industries in Asia-Pacific. MIC is part of the Institute for Information Industry.