Global Artificial Intelligence in Healthcare Market, By Solution (Hardware and Software & Services), By Technology (Speech Recognition, Querying Method, Natural Language Processing, Machine Learning, and Context Aware Processing), By Application (Imaging & Diagnostics, Drug Discovery, Lifestyle Management & Monitoring, Emergency Room & Hospital Management, Insights & Risk Analytics, Wearables, Virtual Assistants, and Others), By End User (Hospitals, Pharmaceutical Organizations, Diagnostic Centers, and Clinics), and By Region - Trends, and Forecast till 2025

Global Artificial Intelligence in Healthcare Market – Insights

Artificial Intelligence (AI) is a system that uses algorithms and software to perform certain tasks without human intervention and instructions. AI is the integration of several technologies such as Machine Learning (ML), Natural Language Processing (NLP), reasoning, and perception. AI systems are mainly categorized into ML and NLP. ML involves analysis of structured data such as genetic data and imaging data and NLP is used to extract information from unstructured data such as clinical notes and medical journals.

The adoption of AI has significantly increased in the healthcare sector, especially in medical diagnosis and detection, drug development, personalized medicines, and patient monitoring. AI is also used to assess the link among various therapies and their endpoint results. AI can also be used in image interpretation, information retrieval, and therapy planning during medical procedures. Deep Learning (DL) is a widely used form of AI and is used for image recognition, signal recognition, and data mining.

Browse Research Report: https://www.coherentmarketinsights.com/market-insight/artificial-intelligence-in-healthcare-market-436

Global Artificial Intelligence in Healthcare Market: Drivers

Low availability of doctors, especially in emerging economies, is expected to boost growth of the global artificial intelligence in healthcare market. For instance, according to the Government of India, around 1,022,859 allopathic doctors are registered with the state medical councils or Medical Council of India as on March 31, 2017. Moreover, the doctor population ratio in India was 0.62:1,000, which is below the WHO standard of 1:1000). Moreover, shortage of doctors in developed regions is also expected to aid in growth of the market. For instance, according to Association of American Medical Colleges, the U.S. may face a shortage of over 90,000 doctors by 2020, including 45,000 patient care physicians.

Increasing development of AI-based approaches that offer general advice to patients and predict a fall in healthcare facilities, readmission rate, and even death, is expected to propel growth of the global artificial intelligence in healthcare market. For instance, Your.MD, an AI empowered system, offers general advice and asks users various questions to in order to associate the data or symptoms with causes. It also offers convenient data regarding the medical conditions of a patient. Moreover, increasing adoption of AI in hospitals is also expected to aid in growth of the market. For instance, in September 2017, El Camino Hospital based in Silicon Valley implemented AI to predict falls in the hospital. Moreover, the hospital reported 39% decrease in cases of fall in six months. Similarly, Vektis Intelligence, a Netherlands-based company, uses AI to assess treatment errors in hospitals.

To learn more about this report, request a sample copy*
* The sample copy includes: Report Summary, Table of Contents, Segmentation, Competitive Landscape, Report Structure, Methodology.
Request a sample copy of this report: https://www.coherentmarketinsights.com/insight/request-sample/436

Major universities are focused on R&D in use of AI in healthcare, which is expected to offer lucarative growth opportunities for players in the market. For instance, in January 2018, researchers at Stanford University used AI to project death of people. In January 2018, Wilfrid Laurier University collaborated with Waterloo University to study the use of AI for early detection of Alzheimer’s disease. Similarly, in January 2018, The University of Massachusetts Amherst Center for Data Science partnered with Chan Zuckerberg Initiative (CZI) to accelerate healthcare research and development using AI.

Global Artificial Intelligence in Healthcare Market: Competitive Landscape

Some major players operating in the artificial intelligence (AI) in healthcare market are IBM Corporation, Google, Inc., NVIDIA Corporation, Microsoft Corporation, iCarbonX, Next IT Corp., CloudMex Inc., Carescore, Atomwise Inc., Zephyr Health Inc., Deep Genomics Inc., Medtronic Plc., Koninkiljke Philips N.V., and Oncora Medical, Inc.

Global Artificial Intelligence in Healthcare Market: Key Developments

Key players in the market are focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in January 2018, Microsoft Corporation partnered with Adaptive Biotechnologies for the integration of AI with human immune system sequencing from Adaptive Biotechnologies. Similarly, in 2017, Nvidia Corporation collaborated with GE Healthcare to accelerate adoption of AI in healthcare. Under the collaboration, Nvidia Corporation is expected to integrate its AI in GE Healthcare’s 500,000 imaging devices worldwide.

Key players in the market are also focused on raising funds to expand their product portfolio. For instance, in January 2018, Owkin France raised US$ 11 million to develop artificial algorithms to enhance drug discovery.

Key players in the market are also focused on product development to enhance their market share. For instance, Biotricity, Inc. —a medical diagnostic and consumer healthcare technology company, is focused on developing AI-based products. Similarly, in 2014, Ubenwa — a Nigeria-based AI health startup developed a mobile app to detect asphyxia in newborn babies using ML.

Buy-Now this research report: https://www.coherentmarketinsights.com/insight/buy-now/436

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
mailto:[email protected]
U.S. Office:
Name: Mr. Shah
Coherent Market Insights 1001 4th Ave,
# 3200 Seattle, WA 98154, U.S.
US : +1-206-701-6702
UK : +44-020-8133-4027
JAPAN : +050-5539-1737