Global Artificial Intelligence in Healthcare Market – Overview:
Artificial Intelligence in Healthcare (HAI) refers to the application of AI technology in various healthcare verticals. Wherein, AI using complex algorithms that mimic human intelligence capabilities like reasoning, learning, pattern recognition and problem solving enables machines to sense, comprehend, and perform tasks such as such as medication management, treatment plans, drug discovery etc.
Artificial Intelligence by now has deep-rooted in healthcare sector, allowing it to organize patient routes or treatment plans in a better fashion while providing physicians with detailed information; enhance their decision making capabilities. This in turn is not only saving a significant amount of time of healthcare personnel but also allows them to efficiently perform a range of tasks offering good treatment results & hence an improved experience to the patients.
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In a nutshell, omnipotent AI technology demonstrating future implications and possible uses will revolutionize medicine and healthcare. This further presages the potential heydays of the Artificial Intelligence in Healthcare market are around the corner.
Acknowledging the increasing demand & growth the market is witnessing currently, Market Research Future (MRFR) has recently published a brilliant study report. In its report MRFR mentions that the global Artificial Intelligence in Healthcare Market is projected demonstrate a colossal growth by 2023, phenomenally surpassing its past growth records with a staggering CAGR during the predicted years (2017 – 2023).
Factors that would drive the Artificial Intelligence in Healthcare Market predominantly include emergence & advancements in robotic surgery, expanded uptake of adoption of precision medicine, coupled with the growing number of clinical trials. Burgeoning healthcare sector is as it is providing impetus to the market growth to an extent.
World Artificial Intelligence in Healthcare Market – Segments
Global Artificial Intelligence Market is segmented in to five Key dynamics for an easy grasp and enhanced understanding.
By Types: Comprises – Software, Hardware, & Services.
By Technologies: Language & Image Processing, Deep Learning, Context Awareness, Querying, Pattern Recognition, and others.
By Application : Comprises – Workflow Assistance, Robot-Assisted Surgery, Financial, Diagnosis, Prognosis & Treatment Assistance, Risk Management, Clinical Trials, Drug Discovery, Cybersecurity, and others.
By End Users: Providers, Vendors, Payers, Pharmaceutical, Biotech Companies, Marketing, and others.
By Regions: North America, Europe, APAC and Rest of the World.
Artificial Intelligence in Healthcare Market – Competitive Analysis
The market characterized with the presence of numerous small & large players, appears to be fiercely competitive & fragmented. Incorporating acquisition, partnership, collaboration, technology launch and expansion, the well-established market players gain competitive advantage in the market maintaining their market position. These Players also invest substantially in the R&D to develop a technology with unrivalled design and features that is on a completely different level compared to their competition.
Koninklijke Philips N.V., IBM Corporation, NVIDIA Corporation, Microsoft Corporation, Intel Corporation, Deep Genomics, Inc., Siemens Healthineers GmbH, General Electric Company, Google, Inc., Johnson & Johnson, CloudMedx Inc., General Vision, Inc., Medtronic Plc., and Stryker Corporation are some of the leaders driving the Global Artificial Intelligence in Healthcare Market. Profiling them in its analysis MRFR finds out their strategies that place them at the forefront of competition.
Artificial Intelligence in Healthcare Market – Regional Analysis
North America is one of the prominent markets for Artificial Intelligence in Healthcare. The US, among other North American countries accounts for the largest market share attributing to the major uptake of this latest technology, affordability and presence of well-established market players like IBM Watson.
While Europe, holds the second position in terms of market size owing to the prominent markets of U.K. Germany, and France.
These developed regions are expected to continue their hegemony for the next few years before finally handing over the leadership to Asia Pacific, a developing region. APAC is estimated to be the fastest growing market owing to the contributions from countries such as India and China.
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