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Global Artificial intelligence in healthcare market is expected to witness 42% CAGR between 2020-2028- Market Insights, analysis, trends, and forecast - Sheer Analytics and Insights
Published : Mon Jul 20 2020
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According to a new market research report published by sheer analytics and insights, “The Global Artificial intelligence in healthcare market will grow at 42% CAGR from 2020 to 2028”, as per the latest market research report titled Global Artificial intelligence in healthcare market (By Components - Hardware, Services, and Software. By Application - Personal Health Assistants, Patient Data and Risk Analysis, Lifestyle Management and Monitoring, Medical Imaging and diagnosis, Surgeries, Training, Research, and Others. By Technology - Virtual Reality, Machine learning, Wearables, Predictive Analytics, Robotics, and Others. By End-Users - Diagnostics Centers, Research and Development centers, Hospitals, Pharmaceuticals, Biotechnology, and Others, and By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2019-2028, by Sheer Analytics & Insights Pvt. Ltd.

The artificial intelligence software is used to assist medical treatments, lab testing, and monitoring of patients in an effective manner. Due to its smart output, doctors or any healthcare practitioners can effectively diagnose disease. The deep learning technology, which includes signal recognition, image recognition, and data mining, is expected to propel the artificial intelligence in healthcare market during the forecast period. The government of several countries mandates such as FDA (US) is insisting on using Electronic Health Records (EHR) even for smaller treatments or diagnoses of every citizen. This helps a lot when there is some major surgery going to happen to the same patient.

As the visitors are huge in medical institutions, management cannot automatically record a single piece of information about the patient. This technology also helps management or administration to check on fair pricing based on treatments going on. AI tools have also helped pharma or drug discovery companies to formulate the right type of vaccine or medicines based on AI-based output before trials. In present days AI has helped medical researchers a lot in understanding the structure of Coronavirus too. Due to base on different outputs through AI, vaccines or medicines are created for a trial period. This usage itself showcases the importance of AI in the healthcare sector.

North America is expected to be the highest market shareholder in artificial intelligence in the healthcare market globally during the forecast period. This growth is due to the presence of active participation of healthcare professionals in this region. Growing focus on precision medicine, high consumerization of personal care products, and increasing investments in the field of healthcare artificial intelligence in this region are propelling the growth of the AI in the healthcare market.

Some of the major players in the global artificial intelligence in healthcare market include Alphabet Inc., Cyrcadia Health, Inc., General Vision, Inc., Icarbonx Co. Ltd., Intel Corporation, International Business Machines Corporation (IBM Corporation), Lifegraph Ltd., Microsoft Corporation, Modernizing Medicine Inc., Next It Corp., Nvidia Corporation, Oncora Medical, Inc., Welltok, Inc and others.

Apart from this, some of the notable startups operating in this field are Path AI, Buoy Health, Inc., Enlitic, Inc., Freenome Inc., Zebra Medical Vision Ltd., Bioxcel Therapeutics, Berg LLC, Atomwise, Inc. BenevolentAI Limited, Qventus, Inc, Babylon Health, CloudMedx and Kensci.

The Global Artificial intelligence in healthcare market Has Been Segmented into:

Global Artificial intelligence in healthcare market: By Components

  • Hardware
  • Services
  • Software

Global Artificial intelligence in healthcare market: By Application

  • Patient Data and Risk Analysis
  • Lifestyle Management and Monitoring
  • Medical Imaging and diagnosis
  • Surgeries
  • Training
  • Research
  • Others

Global Artificial intelligence in healthcare market: By Technology

  • Virtual Reality
  • Machine learning
  • Wearables based monitoring
  • Predictive Analytics
  • Robotics Automation
  • Others

Global Artificial intelligence in healthcare market: By End User

  • Diagnostics Centers
  • Research and Development centers
  • Hospitals
  • Pharmaceuticals
  • Ambulatory surgical center (ASC)
  • Biotechnology
  • Others

Global Artificial intelligence in healthcare market: By Region

  • North America
    • USA
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America, Middle East & Africa
    • Brazil
    • South Africa
    • UAE
    • Rest of LAMEA

 


 

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Artificial intelligence is the next big thing in healthcare industry. Due to its automated assist feature bases on analysis, medical practitioner are keen to take its help in decision making such as surgery had to be done or not. I believe lot of new startups are focusing on development of AI tools. This will help industry to grow at a rapid rate.
-Consultant, Healthcare
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