Artificial Intelligence In Healthcare Market
The global artificial intelligence (AI) in healthcare market is expected to observe an extensive growth in the coming years, led by growing need for precision medicine, increasing application of big data in healthcare industry, and rising need for coordination between healthcare workforce and patients.
The global artificial intelligence (AI) in healthcare market is expected to observe an extensive growth in the coming years, led by growing need for precision medicine, increasing application of big data in healthcare industry, and rising need for coordination between healthcare workforce and patients.
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<strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> <strong>In</strong> <strong>Healthcare</strong> <strong>Market</strong> by<br />
Technology, by Application | Growth Size Of<br />
<strong>Market</strong><br />
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<strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> <strong>In</strong> <strong>Healthcare</strong> <strong>Market</strong><br />
AI in <strong>Healthcare</strong> <strong>Market</strong> Overview<br />
The Global <strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> in <strong>Healthcare</strong> <strong>Market</strong> is expected to observe an extensive<br />
growth in the coming years, led by growing need for precision medicine, increasing<br />
application of big data in healthcare industry, and rising need for coordination between<br />
healthcare workforce and patients. The products in the global market are categorized as<br />
hardware, software and services, with software being the largest contributor in 2016 and the<br />
category is also projected to witness significant growth during the forecast period. Growing<br />
number of software companies and increasing demand of software based AI solutions are<br />
the key factors driving the growth of this product category.<br />
Deep learning, natural language processing (NLP), querying method and context aware<br />
processing are some of the technologies used for AI in healthcare. The demand for NLP in<br />
healthcare has been growing mainly due to rise in unstructured clinical data. Since NLP<br />
technology extracts important clinical information from unstructured data and analyze it for<br />
enhancing processing and analytics.
<strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> <strong>In</strong> <strong>Healthcare</strong> <strong>Market</strong><br />
AI in healthcare industry finds application in medical imaging and diagnostic, patient<br />
data and risk analysis, precision medicine, drug discovery, virtual assistant, inpatient<br />
care and hospital management, wearables, research, robot assisted surgery, fraud<br />
detection and others. Patient data and risk analysis application is projected to register<br />
considerable growth during the forecast period. Growing number of patient base and<br />
increasing adoption of healthcare IT solutions such as EHR in healthcare settings is<br />
expected to foster the growth of AI in patient data and risk analysis.<br />
The key end user of AI in healthcare market include healthcare providers,<br />
pharmaceutical and biotechnology companies, healthcare payers and patients. AI in<br />
healthcare is mostly utilized by the healthcare providers, mainly due to increasing<br />
concern towards improving hospital in-patient care, growing adoption of EHR in<br />
hospitals, small to medium sized clinics and ambulatory care centers.
<strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> <strong>In</strong> <strong>Healthcare</strong> <strong>Market</strong><br />
AI in <strong>Healthcare</strong> <strong>Market</strong> Dynamics<br />
Growth Drivers and Restraints<br />
The key factors that drive the growth of the industry include rise in need for<br />
coordination between healthcare workforce and patients, increasing application of Big<br />
Data in healthcare industry, ability of AI to improve patient outcomes, growing demand<br />
for precision medicine and increase in venture capital investments.<br />
With the increasing use of big data in healthcare sector, the vast amount of data can be<br />
stored systematically, as big data makes it easier for hospital staff to work efficiently. <strong>In</strong><br />
order to monitor blood pressure, heartbeat and respiratory rate sensors are used<br />
besides patient beds which alert the doctors and hospital staff if any change is<br />
observed in the patient condition. Big data also help to fight cancer and mapping the 3<br />
billion DNA base pairs during treatment of cancer. Big data improves hospital<br />
administration by reducing the cost of care measurement and provide best clinical<br />
support.
<strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> <strong>In</strong> <strong>Healthcare</strong> <strong>Market</strong><br />
Key competitors are introducing new and innovative<br />
products <strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> <strong>Market</strong><br />
Key players in the global AI in healthcare market include <strong>In</strong>tel Corporation, IBM<br />
Corporation, Microsoft Corporation, Google, <strong>In</strong>c., General Electric Company, NVIDIA<br />
Corporation, Medtronic Plc, Koninklijke Philips N.V., iCarbonX, Next IT Corp., Welltok,<br />
<strong>In</strong>c., General Vision, <strong>In</strong>c, Recursion Pharmaceuticals, Enlitic, <strong>In</strong>c. Stryker Corporation,<br />
Deep Genomics, <strong>In</strong>c., and Oncora Medical, <strong>In</strong>c.
<strong>Artificial</strong> <strong><strong>In</strong>telligence</strong> <strong>In</strong> <strong>Healthcare</strong> <strong>Market</strong><br />
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