Market Research Report
European AI in Healthcare Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||922231|
Delivery time: 2-3 business days
|European AI in Healthcare Market 2019-2025|
|Published: January 14, 2020||Content info:||
European AI in Healthcare Market Size, Share & Trends Analysis Report by Offering (Hardware and Software & Services), By End-User Industry (Hospitals & Healthcare Facilities, Personal Care, Biotechnology & Pharmaceutical Companies), By Application (Diagnosis, Biomarker, Virtual Nursing Assistance, Remote Monitoring of Patients, Drug Discovery, and AI-Enabled Hospital Care), and Forecast 2019-2025
The European AI in healthcare market is estimated to grow significantly at a CAGR of 53.5% during the forecast period. Europe has a huge potential for the growth of AI owing to an advanced economy and significant investment. UK, Spain, Germany, France, and Italy are the major economies of Europe which are contributing significantly towards the growth of the market. Europe represents a significant market and has a good market share in AI in healthcare market. Artificial intelligence is adding a new dimension to the diagnosis and treatment across the globe. Europe has been significantly contributing in market owing to growing number of start-ups and demand for early and accurate detection of diseases.
There are significant number of healthcare facilities in Europe utilizing AI tools. Health facilities and governmental authorities are aware of the benefits of currently existing AI tools. Benefits such as data privacy is attracting health facilities to adopt AI in healthcare industry. AI support clinicians to take better and more informed decisions. This is the major factor driving the growth of the AI in healthcare market in this region. Rising healthcare expenditure will augment technological advancement in AI technology which in turn offer early detection of the diseases. Additionally, research activities are gathering pace to cater to the ever-increasing demands of the healthcare sector with respect to advanced treatment options in Europe.
The market is segmented on the basis of offering, end-user industry, and application. Based on offering, the market is divided into software & services and hardware. Based on the end-user industry, the market is segmented into hospitals & healthcare facilities, personal care, and biotechnology & pharmaceutical companies. Further, on the basis of application, the market is segmented into diagnosis, biomarker, virtual nursing assistance, remote monitoring of patients, drug discovery, and ai-enabled hospital care. On the basis of country, the market covers the analysis of UK, Spain, Germany, France, Italy, and Rest of Europe.
Various pharmaceutical companies such as Novartis International AG, AstraZeneca PLC, Evotec AG, and Janssen Pharmaceutical NV are using AI in during drug discovery. These companies are partnering with IT companies to integrate the advanced technology with healthcare. For instance, in January 2018, the Novartis International AG entered into partnership with McKinsey's QuantumBlack to analyse clinical trial operations using classic machine learning technology.
The market study of the European AI in healthcare market is incorporated by extensive primary and secondary research conducted by the research team. 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, the 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 authenticity to our reports.
The report is intended for IT companies, private companies, healthcare companies, research institutes, hospitals, government organizations, and other market participants for the overall market and competitive analysis. The report provides an in-depth analysis on market size, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.