Artificial Intelligence in Medicine Market, Growth, Size, Forecast 2025
Artificial Intelligence in Medicine Market Overview: The global artificial intelligence in medicines market was valued at $719 million in 2017 and is estimated to reach $18,119 million at a CAGR of 49.6% from 2018 to 2025. Artificial intelligence (AI) in medicine is used to analyze complex medical data by approximating human cognition with the help of algorithms and software. The development of novel pharmaceuticals and biologicals through clinical trials can take more than a decade and cost billions of dollars during that tenure period. AI technology can help to make this process faster and cheaper, which in turn is expected to help improve the efficiency of pharmaceutical and biotechnology companies. The major factors that drive the growth of the AI in medicine market include dearth of skilled healthcare professionals and increase in the processing power of AI systems that is estimated to help improve the efficiency of drug discovery and management of clinical trials. In addition, the growth in importance of precision medicine and rise in funding for the R&D activities of the use of AI technology in the field of medicine are anticipated to help boost the market growth. However, limited acceptance from healthcare professionals and limitations of AI decisionmaking can hamper the market growth. Moreover, untapped market opportunities available in
Artificial Intelligence in Medicine Market, Growth, Size, Forecast 2025
developing regions such as India and China help open new avenues for the market growth during the forecast period. Product Type Segment Review Based on the product type, the market is segmented into hardware, software, and service. The software segment occupied the highest share in 2017, owing to continuous software innovation that caters to the requirement in the healthcare sector. The hardware segment is projected to witness the highest growth rate during the forecast period. Technology Segment Review Based on technology, it is classified into deep learning, querying method, natural language processing, and context aware processing. The natural language processing segment accounted for the highest share in 2017 as this technology in frequently used during various applications such as drug discovery and clinical trial identification. Key Geographical Segment As per region, the artificial intelligence in medicine market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2017 and is expected to retain its dominance throughout the forecast period owing to the availability of capital investments and increase in adoption of AI technology. Key players Operating in the global artificial intelligence in medicine market include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., BioXcel Corporation, and Berg Health. Other prominent players in the value chain include InSilico Medicine, Inc., Globavir Biosciences, Inc., GNS Healthcare, Flatiron Health, Benevolent AI, Atomwise, Verge Genomics, Cloud Pharmaceuticals, and Recursion Pharmaceuticals. Key Benefits for Stakeholders This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities.
Market estimations are based on a comprehensive analysis of the key developments in the industry.
Artificial Intelligence in Medicine Market, Growth, Size, Forecast 2025
The global market is comprehensively analyzed with respect to product type, technology, application, and region. In-depth analysis based on region assists to understand the regional market to assist in strategic business planning. The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market. Artificial Intelligence in Medicine Market Key Segments: By Product Type Hardware Software Service By Technology Deep Learning Querying Method Natural Language Processing Context Aware Processing By Application Drug Discovery & Repurposing (Preclinical Phase) Clinical Research Trial Personalized Medicine Others Browse Full Report: Artificial Intelligence in Medicine Market, Growth, Size, Forecast 2025 Apply for Customized Research Report - https://www.aarkstore.com/custom-research.php Related Reports: Global Artificial Intelligence Machine Market Research Report 2018
Artificial Intelligence in Medicine Market, Growth, Size, Forecast 2025
Global Artificial Intelligence Machine Market Research Report 2018 Global Artificial Intelligence Chip Market Research Report 2018 About Aarkstore Enterprise Aarkstore curates global market research reports from various industry verticals and serves businesses worldwide. As market research report resellers, we at Aarkstore, partner with established publishers for both; syndicated data and customized reports. The market research data supplied by us is up-to-date and reliable for current day industry analysis and future market forecasts equally. Avail market research reports from us and gather critical information about customer preferences, market requirements, key drivers and challenges for your business to align your strategies to them. The comprehensive overview of the market provided will allow you to make insight-driven decisions giving you an upper hand in the competitive landscape Contact Details: Aarkstore Enterprise Phone: +91 998 729 5242 Email: contact@aarkstore.com Our blog: https://www.aarkstore.com/blog/ Our website: https://www.aarkstore.com
Artificial Intelligence in Medicine Market, Growth, Size, Forecast 2025