The European AI in healthcare market is estimated to grow significantly at a CAGR of 53.5% during the forecast period. Europe has a huge potential for the growth of AI owing to an advanced economy and significant investment. UK, Spain, Germany, France, and Italy are the major economies of Europe which are contributing significantly towards the growth of the market. Europe represents a significant market and has a good market share in AI in healthcare market. Artificial intelligence is adding a new dimension to the diagnosis and treatment across the globe. Europe has been significantly contributing in market owing to growing number of start-ups and demand for early and accurate detection of diseases.

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Various pharmaceutical companies such as Novartis International AG, AstraZeneca PLC, Evotec AG, and Janssen Pharmaceutical NV are using AI in during drug discovery.

There are significant number of healthcare facilities in Europe utilizing AI tools. Health facilities and governmental authorities are aware of the benefits of currently existing AI tools. Benefits such as data privacy is attracting health facilities to adopt AI in healthcare industry. AI support clinicians to take better and more informed decisions. This is the major factor driving the growth of the AI in healthcare market in this region. Rising healthcare expenditure will augment technological advancement in AI technology which in turn offer early detection of the diseases. Additionally, research activities are gathering pace to cater to the ever-increasing demands of the healthcare sector with respect to advanced treatment options in Europe.

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The market is segmented on the basis of offering, end-user industry, and application. Based on offering, the market is divided into software & services and hardware. Based on the end-user industry, the market is segmented into hospitals & healthcare facilities, personal care, and biotechnology & pharmaceutical companies. Further, on the basis of application, the market is segmented into diagnosis, biomarker, virtual nursing assistance, remote monitoring of patients, drug discovery, and ai-enabled hospital care. On the basis of country, the market covers the analysis of UK, Spain, Germany, France, Italy, and Rest of Europe.
These companies are partnering with IT companies to integrate the advanced technology with healthcare. For instance, in January 2018, the Novartis International AG entered into partnership with McKinsey’s QuantumBlack to analyse clinical trial operations using classic machine learning technology.

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European AI in Healthcare Market Segmentation

European AI in Healthcare Market by Offering

• Hardware
• Software & Services

European AI in Healthcare Market by End-User Industry

• Hospitals & Healthcare Facilities
• Personal Care
• Biotechnology & Pharmaceutical Companies

European AI in Healthcare Market by Application

• Diagnosis
• Biomarker
• Virtual Nursing Assistance
• Remote Monitoring of Patients
• Drug Discovery
• Ai-Enabled Hospital Care

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