Global Artificial Intelligence (AI) in Healthcare Market Research and Forecast 2018-2023

Global Artificial Intelligence in Healthcare Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023

Artificial intelligence has penetrated extensively across all possible verticals from financial services to manufacturing and healthcare vertical is no exception. Due to technological advancement, the scope of application of artificial intelligence in care-based applications has widened across the globe. The Artificial Intelligence in Healthcare Market  is expected to see a tremendous growth during the forecast period. AI has capabilities to deliver advanced care-related information to physicians to make informed decisions to personalized real-time treatment.

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Global AI in healthcare market is expected to grow rapidly due to the several benefits of artificial intelligence technology such as error reduction and digital assistants. Major driver involved in the growth of the market is availability of options to have customized training for trainees and reduction in time and cost associated with research. Other factors that are augmenting the growth of the market include demand for early and accurate detection of diseases, increase in ageing population requires more medical attention and increasing technological advancement such as early decision making. Lack of relevant data and security concerns are the major factor hampering the market growth. However, growing number of start-up due to substantial increase in venture capital investments along with emerging markets such as India, China, and Brazil are expected to fuel the market growth in the near future.

The Artificial Intelligence in Healthcare Market can be segmented on the basis of product offering, technology, applications, and end users. Based on product offering, the market is segmented into software, hardware and service. Based on technology, the market can be segmented into classical machine learning, deep learning, and natural learning process. Based on applications, the global AI in healthcare market can be segmented into diagnosis, biomarkers, virtual nursing assistance, remote monitoring of patients, drug discovery and ai-enabled hospital care. Based on end users, the market can be bifurcated into hospitals and healthcare facilities, personal care and biotechnology and pharmaceutical companies. Among application, the virtual nursing assistance segment holds the largest market share in the global AI in healthcare market. This is majorly attributed to the wide adoption of virtual nursing system in personal care across the globe. The AI solutions are easy-to-use and enables early decision making, which in turn, increasing its demand among the healthcare provider across the globe.

The global AI in healthcare market is further analyzed on the basis of the geographical regions that are contributing in the growth of the market. North America contributes the largest share in the global AI in healthcare market. This is mainly owing to increase in ageing population due to which more medical attention is required to them. Asia Pacific is projected to exhibit the fastest growth rate in the global AI in healthcare market during the forecast period. This is due to increasing per capita income of the population, which makes AI solutions affordable in the emerging economies of the region, which includes India and China.

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