Artificial Intelligence (AI) in Healthcare Market - Global Industry Analysis

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The machine-based intelligence that is used for automated applications to avoid repetitive data analysis and assimilation is termed as artificial intelligence (AI). The worldwide adoption of artificial intelligence (AI) technology is trending in various industries and healthcare is no exception to this. The implementation of artificial intelligence (AI) in healthcare sector uses different software and algorithms for approximation of human cognition in a complex medical data analysis.

The growing need for healthcare workforce co-ordination with patients is one of the prominent factors driving the global artificial intelligence (AI) in healthcare market. Analyzing and compiling of patient’s medical data, such as personal information, latest medical symptoms, and medical history is the first step in a patient’s treatment. Data management through artificial intelligence (AI) technology is predicted to be in high demand globally in the future. The integration of AI in healthcare helps to generate medical data that is gathered, stored, re-formatted, and effectively traced for faster assistance and uninterrupted access. Furthermore, hospitals globally are adopting AI solutions to avoid repetitive tasks, such as X-Rays, CT scans, analyzing tests, and data entry. The AI technology helps doctors to analyze time-consuming data analysis, which is increasing the AI applications in the healthcare sector. This, in turn, is estimated to fuel the artificial intelligence (AI) in healthcare market in the upcoming years. However, the integration of AI technology in the healthcare domain comes with a huge threat to a doctor's job. Medical practitioners’ reluctance behavior toward AI technology is hampering this market.

The global artificial intelligence (AI) in healthcare market is segmented on the basis of offering, technology, application, and end-user. The offering segment is classified into hardware, software, and services. The technology segment includes machine learning, context-aware computing, natural language processing, computer vision, speech recognition, and querying method. The applications of the global artificial intelligence (AI) in healthcare market are health monitoring, digital consultation, virtual nurses, precision medicine, drug creation, healthcare system analysis, medication management, and others. The end-users of the artificial intelligence (AI) in healthcare market are clinics, diagnostic centers, pharmaceutical organizations, hospitals, and others.

By region, North America is likely to dominate the global artificial intelligence (AI) in healthcare market, owing to the eminent presence of the leading market players across the region.

Some leading players of the global artificial intelligence (AI) in healthcare market are Google, GE Healthcare, Intel, Medtronic, Siemens Healthineers, General Vision, AWS, Nvidia Corporation, IBM Corporation, AiCure, iCarbonX, Cyrcadia Health Inc., Atomwise, Inc., Pathway Genomics Corporation, Zebra Medical Vision Ltd., Sophia Genetics APIXIO, Inc., General Vision, Inc., and Microsoft.