Artificial intelligence is expected to aid in improving preventative care with the help of big data analysis and study of all the factors associated with disease diagnosis and treatment approach and assessment of the same. Physicians can take better decisions associated with treatment by relying on relevant data provided by artificial intelligence technologies. These technologies include algorithms, computer vision, machine learning, image recognition, speech recognition, cognitive computing, semantic web, and natural language processing. Features of artificial intelligence include pattern identification, management of big data, and eliminating bias. The capabilities of artificial intelligence largely depends on the quantity and quality of data accessible to the technology. Hence, growth of the market is dependent on its accessibility to data from various sectors of healthcare.
Market Dynamics
Artificial intelligence helps to transform conventional modelling of electronic health record (EHR) designs into accurately predicting multiple events such as in-hospital mortality, unplanned readmission, and patient’s discharge diagnoses. For instance, in May 2018, Google AI worked with colleagues from the University of California, San Francisco, Stanford Medicine, and The University of Chicago Medicine, to integrate machine learning into the electronic health records (EHR) in order to achieve scalable and accurate results, and developed a data processing pipeline for transforming EHR files into a standardized format. Furthermore, various major vendors of electronic health record are engaged in incorporating artificial intelligence (AI) and machine learning into EHRs. In March 2018, at the Healthcare Information and Management Systems Society (HIMSS) conference, various EHR vendors such as Allscripts, athenahealth, Cerner, eClinicalWorks, and Epic revealed their plans to integrate AI into the workflow for their upcoming electronic health record platforms.
Moreover, in data management, machine learning faces the challenge of real-time data sharing and accessibility. The healthcare industry requires the accessibility and sharing of case studies and data from across the world to regularly evolve cure and treatment procedures, and to conduct research accordingly. In order to provide efficient output, a core system is required where all the patients’, payers’, and providers’ data are available and shared in real-time across the globe.
Key features of the study:
- This report provides in-depth analysis of the global artificial intelligence in healthcare market, market size (US$ Mn), and compound annual growth rate (CAGR (%)) for the forecast period: 2020-2027, considering 2019 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by leading players
- It profiles key players in the global artificial intelligence in healthcare market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
- Key players covered as a part of this study include IBM Corporation, Google LLC, Medtronic Plc, Koninklijke Philips N.V., Nvidia Corporation, Microsoft Corporation, iCarbonX, CloudMedx Inc., Atomwise Inc., and Next IT Corporation.
- Insights from this report would allow marketers and management authorities of companies to make informed decisions with respect to future product launches, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
- The global artificial intelligence in healthcare market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for artificial intelligence in healthcare market, research and consulting firms, new entrants, and financial analysts.
Detailed Segmentation:
- Global Artificial Intelligence in Healthcare Market, By Products and Services:
- Hardware
- Software & Services
- Global Artificial Intelligence in Healthcare Market, By Technology:
- Speech Recognition
- Natural Language Processing
- Machine Learning
- Context Aware Processing
- Global Artificial Intelligence in Healthcare Market, By Application:
- Imaging & Diagnostics
- Home Health
- Medical Device and Robotics
- Virtual Assistants
- Others
- Global Artificial Intelligence in Healthcare Market, By End User:
- Hospitals & Clinics
- Medical Device Companies
- Diagnostic Centers
- Others
- Global Artificial Intelligence in Healthcare Market, By Region:
- North America
- By Country:
- By Products and Services:
- Hardware
- Software & Services
- By Technology:
- Speech Recognition
- Natural Language Processing
- Machine Learning
- Context Aware Processing
- By Application:
- Imaging & Diagnostics
- Home Health
- Medical Device and Robotics
- Virtual Assistants
- Others
- By End User:
- Hospitals & Clinics
- Medical Device Companies
- Diagnostic Centers
- Others
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Products and Services:
- Hardware
- Software & Services
- By Technology:
- Speech Recognition
- Natural Language Processing
- Machine Learning
- Context Aware Processing
- By Application:
- Imaging & Diagnostics
- Home Health
- Medical Device and Robotics
- Virtual Assistants
- Others
- By End User:
- Hospitals & Clinics
- Medical Device Companies
- Diagnostic Centers
- Others
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Products and Services:
- Hardware
- Software & Services
- By Technology:
- Speech Recognition
- Natural Language Processing
- Machine Learning
- Context Aware Processing
- By Application:
- Imaging & Diagnostics
- Home Health
- Medical Device and Robotics
- Virtual Assistants
- Others
- By End User:
- Hospitals & Clinics
- Medical Device Companies
- Diagnostic Centers
- Others
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Products and Services:
- Hardware
- Software & Services
- By Technology:
- Speech Recognition
- Natural Language Processing
- Machine Learning
- Context Aware Processing
- By Application:
- Imaging & Diagnostics
- Home Health
- Medical Device and Robotics
- Virtual Assistants
- Others
- By End User:
- Hospitals & Clinics
- Medical Device Companies
- Diagnostic Centers
- Others
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Products and Services:
- Hardware
- Software & Services
- By Technology:
- Speech Recognition
- Natural Language Processing
- Machine Learning
- Context Aware Processing
- By Application:
- Imaging & Diagnostics
- Home Health
- Medical Device and Robotics
- Virtual Assistants
- Others
- By End User:
- Hospitals & Clinics
- Medical Device Companies
- Diagnostic Centers
- Others
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Products and Services:
- Hardware
- Software & Services
- By Technology:
- Speech Recognition
- Natural Language Processing
- Machine Learning
- Context Aware Processing
- By Application:
- Imaging & Diagnostics
- Home Health
- Medical Device and Robotics
- Virtual Assistants
- Others
- By End User:
- Hospitals & Clinics
- Medical Device Companies
- Diagnostic Centers
- Others
- Company Profiles
- IBM Corporation*
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Strategies
- Google LLC
- Medtronic Plc
- Koninklijke Philips N.V.
- Nvidia Corporation
- Microsoft Corporation
- iCarbonX
- CloudMedx Inc.
- Atomwise Inc.
- Next IT Corporation
“*” marked represents similar segmentation in other categories in the respective section.
