Market Research Report
Global Artificial Intelligence (AI) in Healthcare Market Research and Forecast 2018-2023
|Published by||Orion Market Research Pvt Ltd||Product code||670595|
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|Global Artificial Intelligence (AI) in Healthcare Market Research and Forecast 2018-2023|
|Published: July 30, 2018||Content info:||
Artificial intelligence has penetrated extensively across all possible verticals from financial services to manufacturing and healthcare vertical is no exception. Due to technological advancement, the scope of application of artificial intelligence in care-based applications has widened across the globe. The Artificial Intelligence in Healthcare Market is expected to see a tremendous growth during the forecast period. AI has capabilities to deliver advanced care-related information to physicians to make informed decisions to personalized real-time treatment.
Global AI in healthcare market is expected to grow rapidly due to the several benefits of artificial intelligence technology such as error reduction and digital assistants. Major driver involved in the growth of the market is availability of options to have customized training for trainees and reduction in time and cost associated with research. Other factors that are augmenting the growth of the market include demand for early and accurate detection of diseases, increase in ageing population requires more medical attention and increasing technological advancement such as early decision making. Lack of relevant data and security concerns are the major factor hampering the market growth. However, growing number of start-up due to substantial increase in venture capital investments along with emerging markets such as India, China, and Brazil are expected to fuel the market growth in the near future.
The Artificial Intelligence in Healthcare Market can be segmented on the basis of product offering, technology, applications, and end users. Based on product offering, the market is segmented into software, hardware and service. Based on technology, the market can be segmented into classical machine learning, deep learning, and natural learning process. Based on applications, the global AI in healthcare market can be segmented into diagnosis, biomarkers, virtual nursing assistance, remote monitoring of patients, drug discovery and ai-enabled hospital care. Based on end users, the market can be bifurcated into hospitals and healthcare facilities, personal care and biotechnology and pharmaceutical companies. Among application, the virtual nursing assistance segment holds the largest market share in the global AI in healthcare market. This is majorly attributed to the wide adoption of virtual nursing system in personal care across the globe. The AI solutions are easy-to-use and enables early decision making, which in turn, increasing its demand among the healthcare provider across the globe.
The global AI in healthcare market is further analyzed on the basis of the geographical regions that are contributing in the growth of the market. North America contributes the largest share in the global AI in healthcare market. This is mainly owing to increase in ageing population due to which more medical attention is required to them. Asia Pacific is projected to exhibit the fastest growth rate in the global AI in healthcare market during the forecast period. This is due to increasing per capita income of the population, which makes AI solutions affordable in the emerging economies of the region, which includes India and China.
Some of the key players operating in the global AI in healthcare market Are Arterys, Atomwise, Inc., Bay Labs, Inc., Biobeats, Butterfly Network Inc., Careskore, Cloudmedx Inc., Crosschx, Inc., Deep Genomics, Desktop Genetics Ltd. And Dreamed Diabetes, Ltd. In order to sustain in the competitive market, these players adopt various strategies such as acquisitions, mergers, expansions, joint ventures, and product development, among others. For instance, in 2017, GE Healthcare has partnered with Nvidia to fast-track artificial intelligence adoption in healthcare and with Intel to boost digital imaging.
The market study of AI in healthcare market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
The report is intended for research institutes, hospitals, biotechnology and pharmaceuticals companies, and government organizations for overall market analysis, and competitive analysis. The report provides in-depth analysis on pricing, market size, intended quality of the product preferred by consumers, initial norms and vehicle segment. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models such as PEST analysis, Porter five analysis delivering insights into the market for better business decisions.
Global AI in healthcare market is segmented on the basis of regional outlook and following segments: