Artificial intelligence (AI) in healthcare is used for handling and analyzing data
for conducting clinical diagnosis and suggesting proper treatment plans for a disease.
It uses several software and sophisticated algorithms to assessing symptoms and
patterns of diseases while offering better guidance, feedback and support to
the healthcare providers. Besides this, the systems equipped with AI can offer
digital and virtual consultations to patients, provide drug development and
management facilities and healthcare analysis via smart wearable devices. Artificial
intelligence (AI) in healthcare market revenue growth is propelled by rising
efficiency in drug discovery and advancements in precision medicine, which is leading
to surging demand and application of these solutions worldwide. Increasing incidence
of chronic diseases and rising global elderly population is projected to
continue to support growth of the market. The rising
trend of growing use of precision medicine and rising clinical trial processes
is favoring demand for and adoption of artificial intelligence in the
healthcare sector. Players in the pharmaceutical market are majorly adopting
artificial intelligence to develop new drugs and speed up overall processes.
Artificial intelligence is deployed in research for cancer and disease
management, which has been rising in the past few years, and this is anticipated
to propel growth of the artificial intelligence in the healthcare market over
the forecast period. Government and private
companies are exploring potentials of incorporating artificial intelligence in
an array of research processes and activities as to propel the development of
COVID-19 vaccines. Artificial intelligence is being investigated for tracking
the spread of COVID-10, helping in ascertaining high-risk patients and for significantly
controlling the spread. Apart from this, the heavy cost of AI systems projected
to limit the market growth.
Furthermore,
it is projected that a rising number of cross-industry collaborations will enhance
AI's acceptance in the healthcare market, which is contributing for its
lucrative growth rate. In the past few years, the number of artificial
intelligence start-ups in the healthcare industry has increased majorly and it
is anticipated to be the same in the coming years, which would have a positive impact
on the market in turn. A major factor responsible for surging number of these
start-ups is the increase in the venture capital investment in this sector.
The
global Artificial Intelligence in Healthcare Market is segregated on the basis
of Offering as Hardware, Software and Services. Based on Technology the global Artificial
Intelligence in Healthcare Market is segmented in Machine Learning,
Context-Aware Computing, Natural Language Processing and Others. Based on Application
the global Artificial Intelligence in Healthcare Market is segmented in Robot-Assisted
Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud
Detection, Dosage Error Reduction, Clinical Trial Participant Identifier,
Preliminary Diagnosis and Others. Based on End-User the global Artificial
Intelligence in Healthcare Market is segmented in Healthcare Providers, Pharmaceutical
and Biotechnology Companies, Patients and Others.
The
global Artificial Intelligence in Healthcare Market report provides geographic
analysis covering regions, such as Europe, North America, Asia Pacific, and
Rest of The World. The Artificial Intelligence in Healthcare Market for each
region is further segmented for major countries including the U.S., Canada,
Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa,
and others.
Competitive Analysis
Amazon
Web Services Inc., Cloudmedx Inc., DeepMind, Enlitic Inc., General Vision Inc.
and others are among the major players in the global Artificial Intelligence in
Healthcare Market. The companies studied in terms of product strategy and
various n several growth and expansion strategies to gain a competitive edge in
the market. The major players not only follow value chain integration with
business operations in multiple stages of the value chain.
- In July
2019, IBM acquired RedHat. Red Hat’s open hybrid cloud technologies are now combined
with IBM’s innovation and industry expertise. IBM and Red Hat will propel
innovation by providing a next-generation hybrid multi-cloud platform. Based on
open source technologies, including Linux and Kubernetes, the platform will enable
businesses to safely deploy, run and manage data and applications on premises
and on private and various public clouds.
- In March
2018, Mayo Clinic (US) and IBM Watson Health declared an agreement to use IBM’s
cognitive computing system for clinical trial matching. The use of this system relates
to more patients registered in Mayo’s breast cancer clinical trials. The
organizations objective is to extend and expand the training and usage of the
system. Presently, the system is trained to help clinical trial matching for lung,
breast and gastrointestinal cancers.
The global Artificial Intelligence in Healthcare
Market has been segmented as below:
Artificial
Intelligence in Healthcare Market, By Offering
Artificial
Intelligence in Healthcare Market, By Technology
- Machine Learning
- Context-Aware Computing
- Natural Language Processing
- Others
Artificial
Intelligence in Healthcare Market, By Application
- Robot-Assisted Surgery
- Virtual Nursing Assistant
- Administrative Workflow Assistance
- Fraud Detection
- Dosage Error Reduction
- Clinical Trial Participant Identifier
- Preliminary Diagnosis
- Others
Artificial
Intelligence in Healthcare Market, By End-User
- Healthcare Providers
- Pharmaceutical and Biotechnology
Companies
- Patients
- Others
Artificial
Intelligence in Healthcare Market, By Region
- Europe
- North America
- Asia Pacific
- Rest of The World
Artificial
Intelligence in Healthcare Market, By Company
- Amazon Web Services Inc.
- Cloudmedx Inc.
- DeepMind
- Enlitic Inc.
- General Vision Inc.
- Google Inc.
- International Business Machines
- iCarbonX
- Intel Corporation
- Medtronic
- Micron Technology Inc.
- Microsoft Corporation
- Next It Corporation
- Nuance Communications Inc.
- Nvidia Corporation
- Siemens Healthcare
- Welltok Inc.
The
report covers the below scope:
- Global Artificial Intelligence in
Healthcare Market sizes from 2020 to 2026, along with CAGR for 2020-2026
- Market size comparison for 2019 vs
2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to
2026
- Global Artificial Intelligence in
Healthcare Market trends, covering comprehensive range of consumer trends &
manufacturer trends
- Value chain analysis covering
participants from raw material suppliers to the downstream buyer in the global Artificial
Intelligence in Healthcare Market
- Major market opportunities and
challenges in forecast timeframe to be focused
- Competitive landscape with analysis
on competition pattern, portfolio comparisons, development trends and strategic
management
- Comprehensive company profiles of
the key industry players
The
years considered for the study are as follows:
- Base year - 2019
- Estimated year - 2019
- Projected year - 2020
- Forecast period - 2021 to 2026
Report
Scope:
The global Artificial Intelligence in Healthcare
Market report scope includes detailed study covering underlying factors
influencing the industry trends. The report covers analysis on regional and
country level market dynamics. The scope also covers competitive overview
providing company market shares along with company profiles for major revenue
contributing companies. The report scope includes detailed competitive outlook
covering market shares and profiles key participants in the global Artificial
Intelligence in Healthcare Market share. Major industry players with
significant revenue share include Amazon Web Services Inc., Cloudmedx
Inc., DeepMind, Enlitic Inc., General Vision Inc. and others.
Why to
Buy this Report:
- Gain detailed insights on the Artificial Intelligence in Healthcare industry trends
- Find complete analysis on the
market status
- Identify the Artificial
Intelligence in Healthcare Market opportunities and growth segments
- Analyse competitive dynamics by
evaluating business segments & product portfolios
- Facilitate strategy planning and
industry dynamics to enhance decision making
Target
Audience:
- The report targeted towards the existing players in
the industry is as follows:
- Market Manufacturers/Service
Providers
- Market Wholesale/Traders
- Investment and Financial
Institutions
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