Artificial Intelligence (AI) in Healthcare Market To Register High Revenue Growth At 43.5% CAGR to reach $27.6 billion by 2025.

Meticulous Research – leading global market research company published a research report titled “Artificial Intelligence in Healthcare Market by Product (Hardware, Software, Services), Technology (Machine Learning, Context-Aware Computing, NLP), Application (Drug Discovery, Precision Medicine), End User, and Geography – Global Forecast to 2025”.

According to this latest publication from Meticulous Research®, the global healthcare artificial intelligence market is expected to grow at a CAGR of 43.5% from 2018 to reach $27.6 billion by 2025. The high growth of Artificial Intelligence (AI) in healthcare market is mainly attributed to factors such as rising funding in healthcare artificial intelligence, growing demand of precision medicines, effective cost reduction in the healthcare expenditure, and accurate & early diagnosis of the chronic diseases and disorders. However, reluctance in adopting AI technologies among the end users and lack of trust & potential risks associated with AI in healthcare is restricting the growth of this market to a certain extent.

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 Key questions answered in the report-

Which are the high growth market segments in terms of product, technology, application, end user, and region/countries?

What was the historical market for artificial intelligence in healthcare across the globe?

What are the market forecasts and estimates for the period 2018-2025?

What are the major drivers, restraints, opportunities, and challenges in the global artificial intelligence market in healthcare?

Who are the major players in the global artificial intelligence market in healthcare?

How is the competitive landscape and who are the market leaders in the global artificial intelligence market in healthcare?

What are the recent developments in the global artificial intelligence market in healthcare?

What are the different strategies adopted by the major players in the global artificial intelligence market in healthcare?

What are the geographical trends and high growth regions/ countries?

Who are the local emerging players in the global artificial intelligence market in healthcare and how do they compete with the global players?

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 The global artificial intelligence market in healthcare study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2025-by product (hardware, software, and services), technology (natural language processing (nlp), context aware processing, machine learning, and querying method), application (medical imaging and diagnosis, patient data and risk analytics, hospital workflow management, drug discovery, patient management, precision medicine, and other applications), and end user (hospital & diagnostic centers, pharmaceutical and biotechnology companies, healthcare payers, patients, and other end users). The study also evaluates industry competitors and analyzes the market at regional and country level.

On the basis of product, software segment commanded the largest share of the global artificial intelligence market in healthcare in 2018. However, services segment is expected to grow at a fastest CAGR during the forecast period, owing to the technology developments in Healthcare IT industry. Moreover, many of the global healthcare IT companies, medical device companies, and technology providers are continuously focusing on developing AI-based solutions for the healthcare industry.

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( Get key industry insights spread across 280 pages with 256 market data tables & 61 figures & charts from the report)

 On the basis of technology, natural learning process commanded the largest share of the global market in 2018. Major factors propelling the growth of NLP technology is the rising adoption of NLP in clinical documentation and automated coding in claims submissions. On the other hand, the use of AI in drug discovery and development applications is also supporting the growth of the healthcare AI market among pharma and biotech companies, CROs, and other non-healthcare provider end-user segments.

On the basis of application, hospital workflow management accounted for the largest share of the global market in 2018. The large share of this segment is mainly attributed to greater penetration of AI-powered chatbots and smart speakers among healthcare providers.  Increasing adoption of AI-based solutions for managing various tasks such as scheduling appointments; checking insurance coverage parameters; instantly accessing information about drug interactions and side effects are some of the key factors driving the growth of this market.

In 2018, hospitals and diagnostics centers end user segment accounted for the largest share of the global artificial intelligence market in healthcare. Rising adoption of IT in healthcare organizations, increasing focus towards development of precision medicine approaches, and increasing number of collaborations among hospitals and companies for the development and implementation of customized AI solutions are some of the major factors attributed to the large share of this end user segment.

Here are the top Market companies in the world::  https://meticulousblog.org/top-10-companies-in-healthcare-artificial-intelligence-market/

 Artificial intelligence in healthcare market is fragmented owing to the presence of number of large-sized companies, mid-sized & small-sized companies, and many start-ups that provide artificial intelligence in healthcare industry. However, the companies that hold the majority share of artificial intelligence in healthcare market are Nvidia Corporation (U.S.), Intel Corporation (U.S.), IBM Corporation (U.S.), Alphabet, Inc. (U.S.), and Microsoft Corporation (U.S.). Other major companies operating in the global artificial intelligence market in healthcare are AntWorks (Singapore), Atomwise (U.S.), Babylon Health (U.K.), Carre Technologies inc. (Hexoskin) (U.S.), Deep Genomics (Canada), Enlitic, Inc. (U.S.), General Electric (GE) Company (U.S.), General Vision Inc. (U.S.), iCarbonX (China), Johnson & Johnson Services, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Medtronic Plc (U.S.), Next IT Corp. (U.S.), Siemens Healthineers (A Division of Siemens AG) (Germany), Butterfly Network (U.S.), Welltok, Inc. (U.S.), and Zebra Medical Vision(Israel).

Geographical Analysis::

This research report analyzes major geographies and provides comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share of the global artificial intelligence market in healthcare in 2018, followed by Europe and Asia Pacific. However, Asia Pacific region is expected to grow at a higher CAGR during the forecast period. Growth in this market is expected to be driven by rise in adoption of precision medicine, and remarkable growth in venture capital investments. In addition, significant use of big data in the healthcare sector is expected to fuel the market growth. The growing technological innovation and demand from China is the primary driver for healthcare AI market in the APAC region.

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

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