Artificial Intelligence in Healthcare Market to Witness Steady Growth Based on Rising Significance of Big Data in Healthcare Sector Till 2025 | Million Insights

News provided by

Jan 21, 2020, 05:20 ET

FELTON, California, Jan. 21, 2020 /PRNewswire/ -- The global Artificial Intelligence (AI) in Healthcare Market scope was projected at US$ 2.5 billion in 2018. It is likely to reach US$ 31.3 billion by 2025 with a CAGR of 41.5% during the prediction period.

Drivers:

The increasing necessity for pull down the prices of healthcare, increasing significance of big data in healthcare, increasing implementation of precision medication, and decreasing the prices of hardware are some features motivating the development of the global artificial intelligence in healthcare market. Additionally, growing applicability of artificial intelligence centered tools in therapeutic care and growth in project capital investments can be credited to the gush in demand for this equipment. Such as, Care Predict, Inc. utilizes technology of artificial intelligence to observe alterations in performance patterns and movement for timely discovery of fitness problems.

Growing number of cross-industry corporations is projected to increase the acceptance of artificial intelligence in the sector of healthcare. This is additionally accountable for its rewarding rate of development. GNS Healthcare came into a cross-industry corporation with Amgen and Alliance for clinical trials in oncology, in September 2018. The group effort was intended at put on information from clinical trials and artificial intelligence to recognize issues that accelerate the reactions of treatment in metastatic Colorectal Cancer (CRC) patients.

Implementation of artificial intelligence in healthcare is increasing, by way of growth in emphasis on refining class of patient care by way of applying artificial intelligence in numerous features of healthcare services, for example surgeries & cybernetic supporters. The artificial intelligence centered apparatuses, for example support systems of clinical decision & software for voice recognition, assistance in restructuring of workflow procedures in hospitals and refining medicinal care, by this means increasing patient experience.

The combination of artificial intelligence in healthcare has a number of paybacks for together providers of healthcare along with patients. For example, artificial intelligence permits custom-made attention, on the basis of fitness disorder and previous medicinal history. Furthermore, artificial intelligence centered apps can be utilized for nonstop observing of wellbeing. Sequentially this would guarantee appropriate treatment & care and can ultimately decrease the stay in hospital.

Get Sample PDF and read more details about the "Artificial Intelligence (AI) in Healthcare Market" Report 2025.

Classification:

The global artificial intelligence (AI) in healthcare industry can be classified by Application, Component and Region. By Application it can be classified as Dosage Error Reduction, Fraud Detection, Diagnosis, Administrative Workflow Assistants, Robot-assisted Surgery, Cybersecurity, Clinical Trials, Connected Machines, and Virtual Assistants. By Component, it can be classified as Software, Hardware and Services.

Regional Lookout:

By Region the global AI in healthcare market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America ruled the global market for artificial intelligence in healthcare in 2018. Obtainability of capital for increasing proficiencies of artificial intelligence, increasing acceptance of healthcare IT solutions and deep-rooted sector of healthcare are some of the reasons funding to the development of the market within the region. The U.S.A detained the biggest share of income in North America, and is expected to keep up its place during the period of forecast. Progressions in technology and growing inventiveness by the government are helping acceptance of digital display place in life sciences, this can moreover be credited to this share.

Asia Pacific is likely to appear such as the speedily developing region. Refining infrastructure for healthcare IT, increasing number of startups for artificial intelligence and progressively growing acceptance of progressive technologies are some of the reasons donating to the development of the artificial intelligence in healthcare industry. Growth in number of government inventiveness for the technology of artificial intelligence (AI) within this region is likewise projected to support the development. South Korea, the Ministry of Science and ICT declared in March 2019, that it would initiate an experimental service of artificial intelligence centered accuracy medication facility known as Dr. Answer, in December 2019.

Companies:

Partnerships with other contestants of the business, diversity in services and more funds for the activities of Research & Development are some the important policies accepted by these companies for attaining the reasonable advantage. IBM Corporation declared a 10-year partnerships with Brigham Women's Hospital and Vanderbilt University Medical Center comprising an investment of US$ 50 million for the research of artificial intelligence, in February 2019.

Some of the important companies for AI in healthcare industry are: DeepMind Technologies Limited, Microsoft, NVIDIA Corporation, Intel Corporation, Nuance Communications, Inc., and IBM Corporation.

Browse 120 page research report with TOC on "Global Artificial Intelligence (AI) in Healthcare Market" at: https://www.millioninsights.com/industry-reports/artificial-intelligence-ai-in-healthcare-market

Market Segment:

Artificial Intelligence in Healthcare Component Outlook (Revenue, USD Million, 2014 - 2025)

Software Solutions
Hardware
Services

Artificial Intelligence in Healthcare Application Outlook (Revenue, USD Million, 2014 - 2025)

Robot Assisted Surgery
Virtual Assistants
Administrative Workflow Assistants
Connected Machines
Diagnosis
Clinical Trials
Fraud Detection
Cybersecurity
Dosage Error Reduction

Artificial Intelligence in Healthcare Regional Outlook (Revenue, USD Million, 2014 - 2025)

North America

U.S.
Canada

Europe

U.K.
Germany
Spain
Italy
Russia
France

Asia Pacific

Australia
Japan
South Korea
India
China
Singapore

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
UAE
Saudi Arabia

Browse reports of similar category available with Million Insights:

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: +1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]
Web: https://www.millioninsights.com/
Blog: https://millioninsights.blogspot.com/

SOURCE Million Insights