The Detailed Analysis on "Artificial Intelligence (AI) in Healthcare Market" gives you a brief idea about the market history as well as the forecast information about the changes occurring around the Globe. The Research Methodology conducted to know more about the Market shares, Trends, and Geographical survey helps you to know more about the competitive landscape and the major players that are dominating each other to be on the number 1 position in Artificial Intelligence (AI) in Healthcare Market in the upcoming years.
Rising application of AI in the field of drug discovery is favouring the market growth to a large extent.
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Artificial Intelligence (AI) in Healthcare Market is expected to reach a CAGR of 51.9% from 2019-2027 to reach $47.9 billion by 2025.
Over the last few years greater new possibilities with data, ability of AI to enhance patient care, vigorous imbalance between the huge amount of patients and healthcare professionals, and possibilities of reducing medical costs are some of the major factors expected to develop the demand for AI in the healthcare sector. Also firms started the development of data analytic software for processing and managing of patient information.
Artificial intelligence was started in 1956. for developing the procedure of drug discovery.
Major Players in the Artificial Intelligence (AI) in Healthcare Market Report:
Most of the organisation is developing software solutions for different healthcare application; this is the main factor for the growth. The prominent players operating the Artificial Intelligence in Healthcare market are , IBM Watson Health, DEEP GENOMICS, NVIDIA Corporation, CloudMedx Inc., Microsoft Corporation, Google, Johnson & Johnson Services, Next IT Corp., Intel Corporation, ,General Electric, General Vision, Koninklijke Philips N.V. and Stryker.
IBM is ranked 1st in the Artificial Intelligence in healthcare market. IBM is continuously developing and launching AI in Health Care.
Artificial Intelligence (AI) in Healthcare Market Segmentation:
The global healthcare artificial intelligence market is divided by application, end user, offerings and technology. By component, the global healthcare artificial intelligence market is divided into software, hardware, and services. By application, the market is divided into Medical Imaging & Diagnosis, robot-assisted surgery, clinical trial and others. By the technology, the market is divided into querying method, machine learning, and natural language processing. By end user, the market is divided into pharmaceutical & biotechnology companies, hospital & diagnostic centers.
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Based on Applications:
- Medical Imaging & Diagnosis
- Drug Discovery
- Therapy Planning
- Clinical Trials
- Hospital Workflow
Based on End User:
- Hospital & healthcare providers
- Pharmaceuticals & Biotechnology Companies
Based on Technology:
- Machine Learning
- Reinforcement Learning
Based on Offerings:
Based on Region:
- North America
- Latin America
Enhancements in Data Analytics Will Power the Growth Of Healthcare Artificial Intelligence Market During The Coming Period
Increasing application of AI in the field of medical imaging industry, drug discovery, genomics, and precision medicine paired with rising customized treatments tailored to an individual patient’s need will power the global market. Increasing requirement for AI technology to accelerate the speed of healthcare delivery services and conduct data mining, emergence of promising and novel applications for disease monitoring and diagnosis will further power the growth of the global market in coming years.
Enhancements in data analytics will power the growth of healthcare artificial intelligence market during the coming period. Huge amount of info is created each year in healthcare sector and ever-rising amount of big data has created the requirement to adopt AI technology to handle data professionally. AI has changed the field of healthcare by developing assisting in repetitive tasks, treatment plans, drug discovery, and medication management. It can also be used effectively for healthcare data management by storing, collecting, and normalizing the info.
Europe (UK, France, Germany, Russia, Rest of Europe), North America (USA, Canada, Mexico), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), Latin America, Middle East, Africa, UAE, Saudi Arabia.
American region is estimated to dominate the AI in the healthcare market and is likely to retain its dominance in the coming years.
The European region is on number 2 and is estimated to hold 3453.4 million USD.
Also, the Asia Pacific region is mostly to touch 52.4% CAGR in the coming years due to the increase in the therapeutic demand for chronic diseases. Also, the fast-developing healthcare sector is influencing the market growth to a large extent.
As per the survey Medical imaging & diagnostics segment in AI healthcare market is estimated to growth the highest CAGR in the upcoming years.
The final report covers the below question:
What are the trending technologies in the Artificial Intelligence (AI) in Healthcare Market?
What are the strategies adopted by the market players to invest in future?
What is the expected growth in the forecast period?
What will be the major acquisition and mergers?
How the segments will grow in the forecast period and how the CAGR will contribute ?
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