Artificial Intelligence in Medicine Market Size to Hit $18.119 Billions by 2025 | Current Trends and Industry Analysis

Artificial intelligence (AI) can be used for research studies and applications that support decision-based medical tasks using data-intensive computer-based solutions. For every drug that is launched in the market, the pharmaceutical industry spends on an average $2.7 billion, which amortizes the losses incurred from the aborted pipelines. Almost 90% of all drug programs that reach clinical trial stages are aborted. Thus, many large pharma and academic research institutions are focusing on use of AI to increase efficiencies and design better drugs.

Some of the key players involved in the Market are:

General Vision, IBM Corporation, Enlitic Inc., BioXcel Corporation, Intel Corporation, Berg Health, Welltok Inc., Alphabet Inc. (Google Inc.), Nvidia Corporation, Microsoft Corporation

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The artificial intelligence (AI) in medicine market can be segmented based on various factors. Here are some common segmentation approaches:

1. Technology: This segmentation is based on the specific AI technology or technique used in medicine. Examples include machine learning, deep learning, natural language processing (NLP), computer vision, robotics, expert systems, and data analytics.
2. Application: AI is utilized in several areas within the field of medicine. Segmentation by application can include diagnostic imaging, drug discovery, genomics, electronic health records (EHR) management, precision medicine, clinical decision support systems, virtual assistants, telemedicine, and patient monitoring.
3. End User: This segmentation categorizes the market based on the end users or customers of AI in medicine solutions. It can include hospitals, clinics, diagnostic centers, pharmaceutical companies, research institutions, and healthcare providers.
4. Component: AI in medicine solutions often consist of various components. Segmenting by component can involve categorizing the market based on software, hardware, and services, such as consulting, training, and maintenance.
5. Geography: Another way to segment the market is by geographical regions or countries. The adoption and implementation of AI in medicine can vary across different regions, and market dynamics can differ based on local regulations, infrastructure, and healthcare systems.
6. Deployment Model: AI in medicine solutions can be deployed in different ways. Segmentation by deployment model can include on-premises solutions, cloud-based solutions, and hybrid models that combine both on-premises and cloud infrastructure.

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