Global Artificial Intelligence in Medicine Market

Global Artificial Intelligence in Medicine Market

Global Artificial Intelligence in Medicine Market Size, Trends & Growth Opportunity, By Type (Hardware, Software, and Services), By Application (Medical Administration & Support, Patient Management, Research & Development, and Others), By Region and Forecast till 2027

Global Artificial Intelligence in Medicine Market

Artificial Intelligence in medicine is utilized to analyze complex medical data by approximating human cognition with the help of algorithms & software. The development of new drug & biologicals through clinical trials can take more than a decade & cost billions of dollars during this period. This technology can help to make this process faster & cheaper. Also, helps to improve the efficiency of pharmaceutical & biotechnology companies.

Market Drivers

The rise in adoption of precision medicine is expected to boost the global artificial intelligence in medicine market growth over the forecast period. Furthermore, the growing AI-based tools in medical care as well as the increase in venture capital investments will positively influence the market growth. Also, the increase in need for lowering healthcare costs, and the increase in importance of big data in medicine industry which anticipated propelling the global artificial intelligence in medicine market growth during this forecast period. The increase in the number of cross-industry partnerships is expected to fuel the global AI in medicine market growth. Number of AI start-ups in the healthcare industry has significantly grown from the past few years & the trend is expected to be the same in near future.

Market Restraints

Lack of skilled Artificial Intelligence workforce is expected to hinder the global artificial intelligence in medicine market during this forecast period.

Market Segmentation

The Global Artificial Intelligence in Medicine Market is segmented into type such as Hardware, Software, and Services. Further, market is segmented into application such as Medical Administration & Support, Patient Management, Research & Development, and Others.

Also, the Global Artificial Intelligence in Medicine Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Atomwise Inc., Bay Labs, Inc., AICURE, LLC, Sense.ly Corporation., Medasense Biometrics Limited, Berg LLC, Modernizing Medicine Inc., Zebra Medical Vision Ltd, IBM Watson Health, etc.

Market Taxonomy

By Type

• Hardware
• Software
• Services

• Medical Administration & Support
• Patient Management
• Research & Development
• Others

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

• What are the Key Opportunities in Global Artificial Intelligence in Medicine Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?