AI in Healthcare to Hit $187.95B by 2030, Moderna & Cardio Lead Charge

Key Takeaway

• AI in healthcare market poised for growth, expected to reach $187.95 billion by 2030 with a CAGR of 36.4% from 2024-2030.
• Moderna integrates AI to enhance drug development efficiency, planning 15 new products by 2029 with nearly 65% of employees as active AI users.
• Cardio Diagnostics develops PrecisionCHD™, an AI-driven blood test for coronary heart disease, increasing access to care in underserved communities.

AI Revolution in Healthcare

The healthcare industry stands on the brink of a transformative shift, driven by the rapid advancement and integration of artificial intelligence (AI). With a projected market size of $22 billion in 2023, the AI healthcare sector is expected to grow at a compound annual growth rate (CAGR) of 36.4% from 2024 to 2030, reaching an astounding $187.95 billion by the end of the decade. This growth is not just numerical but signifies a deeper, more profound change in how healthcare is delivered, with AI at the forefront of driving innovation, targeting treatments, and increasing access to healthcare services.

Driving Innovation with AI

The Mayo Clinic and Moderna are prime examples of how AI is being harnessed to revolutionize medical and surgical advancements across various fields such as cardiovascular medicine, neurology, oncology, and radiology. Moderna, in particular, has given its 3,000 employees access to ChatGPT Enterprise, leveraging OpenAI's GPT-4 to potentially introduce 15 new products by 2029. Moderna's CEO, Stéphane Bancel, envisions a future where AI reinvents business processes, enhancing efficiency across the board. AI's role in accelerating drug development is underscored by its ability to lift success rates to 50% while reducing time-to-market, as found in a Moderna study conducted by Harvard University's Digital Data Design Institute.

Targeting Treatments Through AI

Johnson & Johnson is utilizing AI to revolutionize the way treatments are developed and delivered, particularly through the optimization of clinical trials. By leveraging large anonymized datasets, AI technology enables the identification of potential clinical research sites and patients, streamlining the recruitment and enrollment process. This approach not only speeds up the development of targeted medicines but also aims to democratize access to clinical trials, bringing them closer to patients who might not have access to major academic medical centers.

Increasing Access to Healthcare

Cardio Diagnostics is employing AI to combat cardiovascular diseases by developing PrecisionCHD™ and Epi+Gen CHD™, tests that use AI along with genetic and epigenetic information to detect coronary heart disease and predict the risk of heart attacks. This innovation represents a significant leap towards making advanced cardiac care more accessible, especially in rural and underserved communities, by offering a non-invasive, blood-based test that can be administered in primary care or telemedicine settings.

Management Quotes

• Stéphane Bancel, CEO of Moderna:

  "Envisions employees using ChatGPT at least 20 times a day to 'reinvent all of Moderna’s business processes,' leading to greater overall efficiency."

• Nicole Turner, Senior Director of Global Development, Data Science & Digital Health and R&D at Janssen Pharmaceuticals (Johnson & Johnson):

  "Our goal is to leverage the power of AI to bring trials to more patients, rather than waiting for patients to come to us."