GLOBAL ARTIFICIAL INTELLIGENCE IN HEALTHCARE MARKET FORECAST 2017-2025

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Oct 04, 2017, 03:16 ET

LONDON, Oct. 4, 2017 /PRNewswire/ -- KEY FINDINGS
The Global Artificial Intelligence (AI) in Healthcare market is expected to rise with a CAGR of 40% over the forecast period of 2017-2025. The market is primarily being driven by factors like the rise of personalized medicine in tests for clinical decision-making and big data in healthcare industry and the growing adoption of artificial intelligence (AI) in genetics. Also, AI created real-time monitoring system, and healthcare wearables are playing a crucial role in healthcare monitoring.

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MARKET INSIGHTS
The global artificial intelligence in healthcare market is segmented on the basis of offerings, technology, application and end user. The offering segment can be further classified into software, hardware, and services. The technology segment includes deep learning, context-aware processing, querying method, and natural language processing. The market finds its applications in areas like inpatient care & hospital management, drug discovery, lifestyle management & monitoring, patient data & risk analysis, medical imaging & diagnostics, research, precision medicine, virtual assistance, and wearables. The end-users for the market are ACOS & MCOS, payers, patients, and pharmaceutical & biotechnology companies.

REGIONAL INSIGHTS
Geographically, the global artificial intelligence (AI) in healthcare market has been segmented into four major regions, namely the Asia-Pacific, North America, Europe and Rest of world. The North America region dominated the global market in the year 2016 on account of the growing AI technology in healthcare in countries like Canada and the US. However, it is the Asia Pacific region which is forecasted to exhibit the highest growth in the coming years due to factors like growing healthcare expenditure, large patient pool and booming big data & Internet of Things (IoT) device market.

COMPETITIVE INSIGHTS
Google Inc, International Business Machines (IBM) Corporation, Intel Corporation, Microsoft Corporation and GE Healthcare are the top five companies reigning the market. These companies are increasingly employing strategies like partnerships, contracts, merger & acquisition, agreements, new product launch, etc. to compete in the market. Some of the other major market players are Deep Genomics Inc, Enlitic Inc, General Vision Inc, iCarbonX, Next IT Corporation, Nvidia Corporation, Oncore Medical Inc, Recursion Pharmaceuticals Inc, Stryker Corporation and Welltok Inc.

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