| Rising adoption of technologies such as Computer Vision (CV) and Natural Language Processing (NLP) in healthcare sector and rise in government initiatives to facilitate the digitalization of healthcare sector are some key factors driving the market revenue growth |
Artificial intelligence (AI) has emerged as a radical transformational force in the global healthcare arena. Both providers and seekers in the patient care continuum have benefitted from the profound impact of AI-driven tools. Over the past decade, the healthcare space has expanded and evolved at an unprecedented scale, and the role of AI integration into this sector has been highly significant. AI in healthcare offers countless opportunities to organizations to capitalize on state-of-the-art technology to provide more efficient interventions, starting from chronic diseases like cancer to radiologic procedures and risk assessment. AI in the healthcare space proffers numerous advantages over traditional analytical methods and decision-making processes.
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The report also discusses the key players involved in the market as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Leading Players Profiled in the Report:
IBM (Watson Health), AiCure, Atomwise, Inc., Lifegraph, APIXIO, Inc., Cyrcadia Health Inc., Enlitic, Inc., iCarbonX, Zebra Medical Vision Ltd, Butterfly Network, Inc., Insilico Medicine, Inc., Sophia Genetics, Pathway Genomics Corporation, Modernizing Medicine, Sense.ly, and Welltok, among others.
The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
AI In Healthcare Market Segmentation:
Technology Type:
Machine Learning
Deep Learning
Reinforcement Learning
Supervised Learning
Unsupervised Learning
Others
Computer Vision
Context-Aware Computing
Natural Language Processing
Offering:
Software
AI Platform
Machine Learning Framework
Application Program Interface
AI Solutions
Cloud
On-Premise
Deployment & Integration
Support & Maintenance
Hardware
Processor
GPU
MPU
ASIC
FPGA
Network
Memory
Application:
Inpatient Care & Hospital Management
Medical Imaging & Diagnostics
Lifestyle Management & Patient Monitoring
Drug Discovery & Research
Patient Data & Risk Analysis
Virtual Assistants
Healthcare Assistance Robots
Emergency Room & Surgery
Precision Medicine
Mental Health
Wearables
Cybersecurity
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The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global AI In Healthcare market with regards to market share, market size, production and consumption ratio, product launches and R&D activities, investment opportunities, and presence of key players in the region.
Key Features of the AI In Healthcare Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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AI In Healthcare Market Growth, Business Experts, Industry Trends and Forecast
The applications of artificial intelligence in healthcare are gaining overwhelming traction in the market. With the increasing geriatric population and diseases along with the growing costs of healthcare, technology is gaining popularity as a means of cost effectiveness and efficiency. Artificial intelligence in healthcare market is anticipated to grow at a healthy CAGR of 40.45% during the forecast period 2021-2027.
Investments in AI technology for healthcare applications have been increasing drastically over the last few years. This is due to the potential of AI to automate workflows, improve productivity, monitor medical data and derive insights from it. AI-based healthcare systems have improved decision-making and have helped create personalized healthcare experiences. Also, governments have been setting up programs to implement AI-driven healthcare systems into healthcare processes. All these factors are contributing to the growth of the AI in healthcare market.
Business experts suggest that medical imaging, precision medicine, drug discovery, and administrative operations are the four core segments in AI-based healthcare. There is a huge potential within these segments as they enable more accurate diagnosis, early detection of physicians, personalized medicine, and improved drug discovery. Furthermore, AI can also enable cost optimization and facilitate administrative tasks in healthcare.
In terms of geographical trends, North America led the AI in healthcare market in 2019 and it is expected to continue its dominance throughout the forecast period. However, Asia-Pacific is predicted to witness the highest growth rate. This can be attributed to the rising awareness among healthcare organizations and professionals, the presence of technological advances and innovative healthcare systems, the rising number of aging population, and the increasing prevalence of chronic diseases.
In conclusion, the AI in healthcare market growth is expected to reach an exponential rate in the upcoming years. Business experts are optimistic about the potential of AI-based healthcare systems for improving patient outcomes and minimizing healthcare costs. Governments and healthcare organizations are investing heavily in researching AI-based healthcare solutions and developing best-in-class technology to improve existing healthcare systems.
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