Global Healthcare Artificial Intelligence (AI) Market is Poised to Reach $19.25 Billion by 2026
GAITHERSBURG, Maryland, Aug. 20, 2019 /PRNewswire/ -- According to Stratistics MRC, the Global Healthcare Artificial Intelligence (AI) Market is accounted for $0.95 billion in 2017 and is expected to reach $19.25 billion by 2026 growing at a CAGR of 39.7% during the forecast period.
Some of the key players profiled in the Healthcare Artificial Intelligence (AI) Market include Zebra Medical Vision Ltd, Sophia Genetics, Enlitic, Inc., Butterfly Network, Inc, Cyrcadia Health Inc., IBM (Watson Health), iCarbonX, Insilico Medicine, Inc., Lifegraph, Welltok, AiCure, APIXIO, Inc. and Atomwise, Inc.
Rising applications of artificial intelligence and the advancements in data analytics are some of the factors fueling market growth. However, the high capital requirement is hindering the market growth.
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Artificial intelligence was initiated in 1956 and started gaining significant importance in medical field since 1972. It is the use of complex algorithms and software to estimate human cognition in the analysis of complicated medical data. The primary aim of health-related AI applications is to analyze relationships between prevention or treatment techniques and patient outcomes. AI programs have been developed and applied to practices such as diagnosis processes, treatment protocol development, drug development, personalized medicine, and patient monitoring and care.
On the basis of end user, hospital & diagnostic centers has witnessed the significant growth during the forecast period due to rising implementation of artificial intelligence technology for collection of data of patient to support decision making in hospital workflow has considerably enhanced outcomes, reduced wait times and costs are some of the factors fueling the market growth.
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Based on geography, Asia Pacific holds the largest market share during the forecast period due to increasing R&D expenditure, developments in pharmaceutical and biotechnology sectors, the existence of huge patient pool will generate demand for improved healthcare services and growing disposable income are some of the factors driving the market growth in this region.
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Technologies Covered:
- Natural Language Processing
- Querying Method
- Machine Learning
- Context Aware Processing
- Deep Learning
Components Covered:
- Hardware
- Software
- Services
Applications Covered:
- Hospital Workflow
- Virtual Assistants
- Medical Imaging & Diagnosis
- Therapy planning
- Drug discovery
- Wearables
- Robot-assisted Surgery
- Dosage Error Reduction
- Clinical Trial Participant Identifier
- Automated Image Diagnosis
- Fraud Detection
End Users Covered:
- Academic & Research Laboratories
- Hospital & Diagnostic Centers
- Pharmaceutical & Biotechnology Companies
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.
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