Image result for artificial intelligence (ai) in healthcare The global artificial intelligence (AI) in the healthcare market is growing at a significant rate, due to progressively huge and complex data set, refining computing power, and declining hardware cost. Different offerings including hardware, and software contributed to AI in the healthcare market size. The market has witnessed a high demand for software due to mounting acceptance of AI platforms and solutions among healthcare payers and providers.

Artificial intelligence in healthcare is the simulation of human intelligence by machines. The upsurge in finance for artificial intelligence in healthcare is the major trend in AI in the healthcare market.

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Progressively huge and complex data set, escalating demand for precision medicine, refining computing power and decreasing hardware cost, intensifying necessity for improvised healthcare services, and a mounting number of cross-industry partnerships and collaborations are the primary growth drivers for AI in the healthcare market. The escalating necessity for coordination among healthcare employees and patients, mounting geriatric population, and expanding need to decrease healthcare costs are also facilitating the growth for the artificial intelligence in the healthcare market.

Disinclination among medical practitioners to accept AI-based technologies, the absence of curated healthcare data, the dearth of skilled AI workforce and indefinite regulatory rules for medical software, the absence of interoperability among AI solutions offered by various vendors, and concerns regarding data privacy are the major challenges for the growth of AI in the healthcare market.

The mounting ability of AI-based tools for geriatric care, the unexploited market in emerging countries such as China, and India, and escalating emphasis on building human-aware AI systems would create opportunities for the AI in the healthcare market.

Asia-Pacific is observed to witness the fastest growth in the market, due to escalating healthcare expenditure. In addition, mounting medical tourism, expanding the geriatric population, and refining healthcare infrastructure are also creating a positive impact on AI in healthcare market growth in the region.

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Key players in AI in the healthcare market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In June 2018, Medtronic plc and IBM Watson Health announced the accessibility of the Sugar.IQ smart diabetes assistant, designed to streamline and enhance daily diabetes management. NVIDIA Corporation, Google, Inc., Medtronic PLC, Intel Corporation, General Electric (GE) Company, IBM Corporation, Microsoft Corporation, and Micron Technology are the key players offering artificial intelligence in healthcare.

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