List of AI Healthcare Stocks

In This Article:

In this article, we will take a look at our list of AI healthcare stocks. To see more such companies, go directly to 5 AI Healthcare Stocks To Buy.

Artificial Intelligence is set to disrupt several industries and healthcare is one of the primary industries that are expected to see the positive effects of the AI revolution. A 2022 report by Data Bridge Market Research said that the AI healthcare market is expected to grow at a CAGR of a whopping 51.37% from 2022 to 2029 to reach a value of $175.22 billion. The report also said that the major players operating in this lucrative market include NVIDIA Corporation, Alphabet, Microsoft, Medtronic, among many others.

Similarly, another report published in October by MarketsandMarkets said that AI in the Medical Diagnostics market is expected to grow from $1 billion 2022 to $5.5 billion by 2027. The report said that the AI-based medical devices market is growing amid government-based initiatives and the rise in adoption of AI solutions by radiologists to reduce work load.

As you will see in this article, drug discovery is the biggest area where AI is showing its effects. There are several important drug discovery startups in the world that are using artificial intelligence to come up with innovative drugs. According to a report by European Parliament, AI uses data modeling and machine learning to generate several drug combinations very quickly.  These models expand the genetic pool of drugs and help experts understand their possible outcomes. The report gives an example where researchers trained a deep learning algorithm to predict molecules' potential antimicrobial activity. The AI-based algorithm was able to process billions of molecules and also tested over 107 million, identifying eight antibacterial compounds that were structurally distant from known antibiotics. Without AI, this massive processing would take a lot of time and human effort.

Photo by CDC on Unsplash

Our Methodology

For this article we first listed several companies that are using AI to create innovative healthcare solutions like drugs, diagnostics systems and medical devices. We also included major tech companies which are either positioned to benefit from the AI revolution in the healthcare sector or are selling their AI technologies directly to healthcare and medical companies. Not all stocks in this article are pure AI healthcare stocks. We started from the non-pure-play AI healthcare stocks to those that are directly using AI to make treatments in the sector.

List of AI Healthcare Stocks

13. Microsoft Corporation (NASDAQ:MSFT)

Microsoft Corporation (NASDAQ:MSFT) makes it to the list of the AI healthcare stocks list because the company is investing millions in the space and letting hundreds of healthcare startups use its technologies to make progress in the domain. Microsoft Corporation (NASDAQ:MSFT) has awarded 180 grants to startups so that they could access the company’s technologies and use AI to solve major problems in the healthcare sector. Some notable grantees include Novartis Foundation, SRL Diagnostics, BC Cancer, UNOS, among many others. These companies are using AI technologies, thanks to Microsoft, to solve important issues in the healthcare sector.