The Artificial Intelligence in Healthcare Market

Artificial intelligence (AI) in healthcare is used for handling and analyzing data for conducting clinical diagnosis and suggesting proper treatment plans for a disease. It uses several software and sophisticated algorithms to assessing symptoms and patterns of diseases while offering better guidance, feedback and support to the healthcare providers. Besides this, the systems equipped with AI can offer digital and virtual consultations to patients, provide drug development and management facilities and healthcare analysis via smart wearable devices. Artificial intelligence (AI) in healthcare market revenue growth is propelled by rising efficiency in drug discovery and advancements in precision medicine, which is leading to surging demand and application of these solutions worldwide. Increasing incidence of chronic diseases and rising global elderly population is projected to continue to support growth of the market. The rising trend of growing use of precision medicine and rising clinical trial processes is favoring demand for and adoption of artificial intelligence in the healthcare sector. Players in the pharmaceutical market are majorly adopting artificial intelligence to develop new drugs and speed up overall processes. Artificial intelligence is deployed in research for cancer and disease management, which has been rising in the past few years, and this is anticipated to propel growth of the artificial intelligence in the healthcare market over the forecast period. Government and private companies are exploring potentials of incorporating artificial intelligence in an array of research processes and activities as to propel the development of COVID-19 vaccines. Artificial intelligence is being investigated for tracking the spread of COVID-10, helping in ascertaining high-risk patients and for significantly controlling the spread. Apart from this, the heavy cost of AI systems projected to limit the market growth.

Furthermore, it is projected that a rising number of cross-industry collaborations will enhance AI's acceptance in the healthcare market, which is contributing for its lucrative growth rate. In the past few years, the number of artificial intelligence start-ups in the healthcare industry has increased majorly and it is anticipated to be the same in the coming years, which would have a positive impact on the market in turn. A major factor responsible for surging number of these start-ups is the increase in the venture capital investment in this sector.

The global Artificial Intelligence in Healthcare Market is segregated on the basis of Offering as Hardware, Software and Services. Based on Technology the global Artificial Intelligence in Healthcare Market is segmented in Machine Learning, Context-Aware Computing, Natural Language Processing and Others. Based on Application the global Artificial Intelligence in Healthcare Market is segmented in Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Dosage Error Reduction, Clinical Trial Participant Identifier, Preliminary Diagnosis and Others. Based on End-User the global Artificial Intelligence in Healthcare Market is segmented in Healthcare Providers, Pharmaceutical and Biotechnology Companies, Patients and Others.

The global Artificial Intelligence in Healthcare Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Artificial Intelligence in Healthcare Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Amazon Web Services Inc., Cloudmedx Inc., DeepMind, Enlitic Inc., General Vision Inc. and others are among the major players in the global Artificial Intelligence in Healthcare Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In July 2019, IBM acquired RedHat. Red Hat’s open hybrid cloud technologies are now combined with IBM’s innovation and industry expertise. IBM and Red Hat will propel innovation by providing a next-generation hybrid multi-cloud platform. Based on open source technologies, including Linux and Kubernetes, the platform will enable businesses to safely deploy, run and manage data and applications on premises and on private and various public clouds.
• In March 2018, Mayo Clinic (US) and IBM Watson Health declared an agreement to use IBM’s cognitive computing system for clinical trial matching. The use of this system relates to more patients registered in Mayo’s breast cancer clinical trials. The organizations objective is to extend and expand the training and usage of the system. Presently, the system is trained to help clinical trial matching for lung, breast and gastrointestinal cancers.

The global Artificial Intelligence in Healthcare Market has been segmented as below:

Artificial Intelligence in Healthcare Market, By Offering

• Hardware
• Software
• Services

Artificial Intelligence in Healthcare Market, By Technology

• Machine Learning
• Context-Aware Computing
• Natural Language Processing
• Others

Artificial Intelligence in Healthcare Market, By Application

• Robot-Assisted Surgery
• Virtual Nursing Assistant
• Administrative Workflow Assistance
• Fraud Detection
• Dosage Error Reduction
• Clinical Trial Participant Identifier
• Preliminary Diagnosis
• Others

Artificial Intelligence in Healthcare Market, By End-User

• Healthcare Providers
• Pharmaceutical and Biotechnology Companies
• Patients
• Others

Artificial Intelligence in Healthcare Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Artificial Intelligence in Healthcare Market, By Company

• Amazon Web Services Inc.
• Cloudmedx Inc.
• DeepMind
• Enlitic Inc.
• General Vision Inc.
• Google Inc.
• International Business Machines
• iCarbonX
• Intel Corporation
• Medtronic
• Micron Technology Inc.
• Microsoft Corporation
• Next It Corporation
• Nuance Communications Inc.
• Nvidia Corporation
• Siemens Healthcare
• Welltok Inc.

The report covers the below scope:

• Global Artificial Intelligence in Healthcare Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Artificial Intelligence in Healthcare Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Artificial Intelligence in Healthcare Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Artificial Intelligence in Healthcare Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Artificial Intelligence in Healthcare Market share. Major industry players with significant revenue share include Amazon Web Services Inc., Cloudmedx Inc., DeepMind, Enlitic Inc., General Vision Inc. and others.

Why to Buy this Report:

• Gain detailed insights on the Artificial Intelligence in Healthcare industry trends
• Find complete analysis on the market status
• Identify the Artificial Intelligence in Healthcare Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement

1.      Introduction

1.1.       Key Points

1.2.      Report Description

1.3.      Markets Covered

1.4.      Stakeholders

2.     Research Methodology

2.1.      Research Scope

2.2.     Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.           Secondary Research

2.2.2.2.          Primary Research

2.2.2.3.          Models for Estimation

2.3.     Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.     Executive Summary

4.    Market Overview

4.1.      Introduction

4.2.     Drivers

4.3.     Restraints

4.4.     Opportunities

4.5.     Challenges

5.     Artificial Intelligence in Healthcare Market, By Offering

5.1.      Key Points

5.2.  Hardware

5.3.  Software

5.4.  Services

6.    Artificial Intelligence in Healthcare Market, By Technology

6.1.      Key Points

6.2. Machine Learning

6.3. Context-Aware Computing

6.4. Natural Language Processing

6.5.  Others

7.     Artificial Intelligence in Healthcare Market, By Application

7.1.      Key Points

7.2.  Robot-Assisted Surgery

7.3.  Virtual Nursing Assistant

7.4.  Administrative Workflow Assistance

7.5.  Fraud Detection

7.6.  Dosage Error Reduction

7.7.  Clinical Trial Participant Identifier

7.8.  Preliminary Diagnosis

7.9.  Others

8.    Artificial Intelligence in Healthcare Market, By End-User

8.1.      Key Points

8.2. Healthcare Providers

8.3. Pharmaceutical and Biotechnology Companies

8.4. Patients

8.5. Others

9.    Competitive Landscape

9.1.      Introduction

9.2.     Start-up companies- Artificial Intelligence in Healthcare Market

9.3.     Recent Developments

9.3.1.     Mergers & Acquisitions

9.3.2.    New Product Developments

9.3.3.    Portfolio/Production Capacity Expansions

9.3.4.    Joint Ventures, Collaborations, Partnerships & Agreements

9.3.5.     Others

10.            Company Profile

10.1. Amazon Web Services Inc.

10.2.    Cloudmedx Inc.

10.3.    DeepMind

10.4.    Enlitic Inc.

10.5.    General Vision Inc.

10.6.    Google Inc.

10.7.     International Business Machines

10.8.    iCarbonX

10.9.    Intel Corporation

10.10.Medtronic

10.11.  Micron Technology Inc.

10.12. Microsoft Corporation

10.13. Next It Corporation

10.14. Nuance Communications Inc.

10.15. Nvidia Corporation

10.16. Siemens Healthcare

10.17. Welltok Inc.