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A Recent Study Says That “Artificial Intelligence (AI) in Healthcare Market” Will Make a Huge Impact by 2024

Medical Research Centers

Updated on Sep 5, 2018

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Artificial Intelligence (AI) in Healthcare Market: Overview
Artificial intelligence is a branch of computer science which has the potential to analyse complex data. Currently, artificial intelligence is a rapidly evolving technology in healthcare industry. By providing rich and relevant information to patients and healthcare professionals (HCPs) with on-demand medical and clinical confidence, artificial intelligence can greatly advance HCP and patient communications. It is being used or trialled for a range of healthcare and research purposes, including detection of disease, management of chronic conditions, delivery of health services, and drug discovery.

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Artificial Intelligence (AI) in Healthcare Market: Analysis
The global artificial intelligence (AI) in healthcare market has gained sustainable growth due to growing use of big data in healthcare industry and growing importance of precision medicine.
Improving medical infrastructure and growing expenditure on healthcare are some of the major factors responsible for this growth. The market is further propelled by technological advancements in artificial intelligence (AI) in healthcare by various vendors across the globe. Some of the prominent trends witnessed by the market includes growing potential of artificial intelligence-based tools for elderly care.

However, the global artificial intelligence (AI) in healthcare market is hampered by ambiguous regulatory guidelines for medical software and reluctance among medical practitioners to artificial intelligence-based technologies. Moreover, data security issues are also creating an aversion among consumers regarding artificial intelligence in healthcare.

Artificial Intelligence (AI) in Healthcare Market: Segmentation
Based on technology, the global artificial intelligence (AI) in healthcare market is segmented into,
Context aware processing
Deep learning
Natural language processing
Querying method
Based on offering, this market is segmented into
Hardware
Software and services
The artificial intelligence software is used to assist the medical system in relevant insights, medical imaging and diagnostics, drug discovery, in-patient care and hospital management, virtual assistance, precision medicine, lifestyle management and monitoring, patient data and risk analysis, and research. The growing usage of smart devices, and the presence of major artificial intelligence software providers such as IBM Corporation, Google Inc etc. are driving the growth of the artificial intelligence in healthcare market for the software offering.
Based on application, the global artificial intelligence (AI) in healthcare market is divided into,
Drug discovery
In-patient care and hospital management
Lifestyle management and monitoring
Medical imaging and diagnosis
Patient data and risk analysis
Precision medicine
Research
Virtual assistant and wearables
Pharmaceuticals and biotechnology
Healthcare providers

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Artificial Intelligence (AI) in Healthcare Market: Top Key Players
Intel Corporation, Careskore, Enlitic, Inc., General Electric, General Vision, Inc., Google Inc., IBM Corporation, iCarbonX, Johnson & Johnson Inc., Koninklijke Philips N.V., Medtronic Plc, Microsoft Corporation, Next IT Corp., NVIDIA CORPORATION, Oncora Medical, Sentrian, Siemens Healthineers, Stryker Corporation, Welltok, Inc. and Zephyr Health, Inc. among others.

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