Artificial Intelligence (AI) in Healthcare Market – Opportunities & Forecast, 2020-2027


Posted September 14, 2020 by shaqibakram

The major factors that are driving the growth of the global Artificial Intelligence (AI) in Healthcare are rising demand for lowering healthcare cost....

 
Artificial intelligence (AI) is a broader branch of computer science concerned with developing smart machines capable of performing tasks that usually require human intelligence. AI in healthcare is the combination of complex algorithms and software to mimic human cognition in the analysis of complex medical data. It simplifies the lives of patients, doctors, and hospital administrators by performing tasks that are usually done by humans, in less time and at a fraction of the cost. AI provides various advantages over traditional analytics, and clinical decision-making techniques as AI enables us to retrieve information, process it, and give a well-defined output to the end-user.

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The major factors that are driving the growth of the global Artificial Intelligence (AI) in Healthcare are rising demand for lowering healthcare cost, increasingly large and complex data set available in the form of big data in healthcare, growing adoption of precision medicine, enhancing computing power and declining hardware cost. Moreover, there has been an increased focus on enhancing the quality of patient care by using AI in various aspects of healthcare services. Growing application of AI-based tools for taking care of older people and increasing focus on improving human-aware AI systems are further boosting the growth of AI in healthcare during the forecast period. However, data privacy and security concerns, shortage of curated healthcare data, and lack of interoperability between AI solutions offered by various vendors are hampering the growth of the market.

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Various notable players in the Artificial Intelligence (AI) in Healthcare market include Nvidia Corporation, Intel Corporation, IBM Corporation, Google LLC, Microsoft Corporation, General Electric (GE) Company, Siemens Healthineers, Medtronic plc, Micron Technology, Inc., Amazon Web Services (AWS) and among others.

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Global Artificial Intelligence (AI) in the Healthcare market has been segmented based on the offering, technology, end-use application, end-user, and key region. Based on the offering, the market is segmented into hardware, software, and service. Based on hardware, the market is further segmented into Processor, Memory, and Network. The processor market is further segmented into MPU, GPU, FPGA, and ASIC. Based on software, the market is further segmented into AI Solutions and AI Platform. AI Solution is further segmented into AI Platform, and Cloud. AI Solution is further segmented into Machine Learning Framework and Application Program Interface (API). Based on Service the market is segmented into Deployment & Integration, and Support & Maintenance. Based on technology, the market is segmented into Machine Learning, Natural Language Processing, Context-Aware Computing, and Computer Vision. The machine learning market is further segmented into Deep Learning¸ Supervised Learning, Reinforcement Learning, Unsupervised Learning, and Others. Based on end-use application, the market is further segmented into Patient Data and Risk Analysis, Inpatient Care & Hospital Management¸ Medical Imaging & Diagnostics¸ Lifestyle Management & Monitoring¸ Virtual Assistant, Drug Discovery, Research, Healthcare Assistance Robots, Precision Medicine, Emergency Room & Surgery, Wearables, and Mental Health. Based on end-user, the market is segmented into Hospitals and Providers, Patients, Pharmaceutical and Biotechnology Companies, Healthcare Payers, and Others.

Key questions answered in this research report:

At what pace is the global Artificial Intelligence (AI) in the Healthcare market growing? What will be a growing trend in the future?
What are the key drivers and restraints in the global Artificial Intelligence (AI) in the Healthcare market? What will be the impact of drivers and restraints in the future?
What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in global Artificial Intelligence (AI) in the Healthcare market?
Who are the various end-user of the global Artificial Intelligence (AI) in the Healthcare market, and how they are poised to grow?
What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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Last Updated September 14, 2020