According to the Facts and Factors research report, global artificial intelligence in medicine market in 2019 was around USD 800.00 Million. The market is expected to grow at a CAGR of 49% and is anticipated to reach around USD 15,000.00 Million by 2026.
Artificial intelligence in medicine has the probable to expressively convert the character of the doctor and revolutionize the preparation of medicine. Across changed medical specialties, and discusses the strengths as well as challenges, involving to this emergent technology. Doctors, particularly those in management roles, the necessity to be responsive to quickly AI is evolving in health, therefore they remain ready to main the modification essential for its acceptance through the health system. The AI is effective as persons in the analysis of various medical situations, and in some cases, additional effective. Artificial intelligence in medicine is the usage of compound algorithms and software to emulate hominid thought in the inquiry of complex medical data. Exactly, AI is the skill for computer systems to estimated assumptions without human input.
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Industry Major Market Players
- Bay Labs Inc
- CloudMedx Inc.
- Siemens Healthcare GmbH
- Nvidia Corporation
- Next IT Corp.
- General Electric
- General Vision
- Google Inc
- IBM Corporation
- Koninklijke Philips
Artificial Intelligence in Medicine Market: Growth Factors and Market Opportunities Analysis
The growing application of artificial intelligence in the field of drug discovery. The growth of artificial intelligence in medicine consumes related to the development of AI programs intended to assist and help clinicians in making satisfying decisions, and the estimate of outcomes. They are designed to support health care employees in their daily duties, supplementary with responsibilities that trust the influence of files and knowledge.
Artificial intelligence (AI) is the term utilized to describe the usage of technology and computers to pretend intellectual behavior and acute thinking similar to a human being. Artificial intelligence (AI) is rising into the health segment and is accepted to have a key impact on every feature of primary care. Artificial intelligence (AI)-enabled computer solutions will support primary care doctors to well identify patients who need additional attention and offer modified procedures for every individual.
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Artificial Intelligence in Medicine Market: Key Segments Analysis
By component, Artificial intelligence in medicine market is segmented as hardware, software, service. Artificial intelligence in medicine is the usage of compound procedures and software to match human thought in the analysis of complex medical files. Exactly, artificial intelligence is the facility for computer systems to estimated assumptions without direct human input.
By Application, artificial intelligence in the medicine market is segmented as preliminary diagnosis,robot-assisted surgery, connected machines, virtual nursing assistants, clinical trial, administrative workflow assistance, fraud detection, others. Artificial intelligence in medicine used in fraud detection has increased owing to the growing frequency of healthcare fraud that consumes controlled to greater problems for the healthcare manufacturing as well as compensation organization. The fraud includes misrepresentation and the intended proposal of false claims.
By End-User, the artificial intelligence in the medicine market is segmented as a healthcare provider, pharmaceutical & biotechnology company, patient, payer, others. Artificial intelligence in medicine uses automatic algorithms to achieve tasks that usually depend on humanoid intelligence. The use of artificial intelligence in the pharmaceutical & biotechnology company takes redefined how scientists progress new drugs, diseases, and more.
By Technology, artificial intelligence in medicine market is segmented as a querying method, natural language processing, context-aware processing, speech recognition, decision management, others. Artificial intelligence in medicine is progressively actuality accepted through the healthcare company, and several of the greatest moving Artificial intelligence applications influence natural language processing (NLP). Put, NLP is a particular branch of AI focused on the analysis and operation of human-generated written data.
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Artificial Intelligence in Medicine Market: Regional Analysis
The regional segmentation of Artificial Intelligence in Medicine industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for Artificial Intelligence in Medicine industry is provided for the leading economies of the world.
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This report segments artificial intelligence in medicine market as follows:
Global Artificial Intelligence in Medicine Market: By Component Segmentation Analysis
Global Artificial Intelligence in Medicine Market: By Application Segmentation Analysis
- Robot Assisted Surgery
- Virtual Nursing Assistants
- Administrative Workflow Assistance
- Fraud Detection
- Connected Machines
- Clinical Trial
- Preliminary Diagnosis
- Others(Dosage Error Reduction, Cybersecurity, Etc.)
Global Artificial Intelligence in Medicine Market: By End-User Segmentation Analysis
- Healthcare Provider
- Pharmaceutical & Biotechnology Company
Global Artificial Intelligence in Medicine Market: By Technology Segmentation Analysis
- Querying Method
- Natural Language Processing
- Context Aware Processing
- Speech Recognition
- Decision Management
- Others(Biometrics, AI Modeling, Etc.)
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