Healthcare Artificial Intelligence Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
Global healthcare artificial intelligence market is anticipated to proliferate at a rapid pace owing to increasing advancements in big data analytics.
Healthcare analytic software and solutions offered by key industry players extensively improve the quality of clinical care. These solutions aid in ensuring better patient outcomes, reducing costs, detecting as well as preventing various diseases, and help patients improve their quality of life.
Likewise, rising adoption of ML algorithms including decision trees, linear models, and neural networks in the healthcare settings will positively influence healthcare artificial intelligence market expansion over the projected timeframe.
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As per GMI estimates, the global healthcare artificial intelligence market size is expected to exceed $13 billion by 2025.
The U.S. artificial intelligence sector has controlled a major section of the North America market in terms of revenue share, with the country accounting for almost 90% of the entire revenue share in 2018. Increasing adoption of pioneering healthcare solutions like big data in disease diagnosis could strengthen product demand across the U.S.
Lately, state-run hospitals are heavily adopting AI solutions to effectively process and manage huge amounts of patient data. Federal authorities are launching various initiatives and supportive guidelines to expedite the development of AI in healthcare facilities. Citing an instance, in August 2020, Stanford Center for Health Education released an online program in healthcare and AI with an aim to improve global health outcomes with the help of machine learning and artificial intelligence as well as to advance the delivery of patient care.
Constant technological upgradations across the healthcare sector coupled with rising adoption of artificial intelligence in research facilities could broaden the business horizon for local industry players. Forecasters claim that the UK artificial intelligence market could maintain a growth rate of 42.4% withing the predicted timeframe. Regional authorities are taking progressive efforts like the arrangement of workshops to increase awareness about the benefits of AI platforms for healthcare professionals.
Companies operating in the healthcare artificial intelligence industry are working on implementing inorganic strategies like mergers, acquisitions, and partnerships to broaden their geographical reach. Taking July 2020 for instance, InveniAI® LLC, a leading developer of machine learning (ML) and artificial intelligence (AI) applications for healthcare institutions, inked a strategic collaboration deal with GlaxoSmithKline Consumer Healthcare. Reportedly, GlaxoSmithKline would leverage InveniAI’s innovative AI and ML platform, AlphaMeld®, to effectively navigate and evaluate developing innovation spanning the firm’s main focus areas.
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Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Healthcare artificial intelligence industry 3600 synopsis, 2014 – 2025
2.1.1. Application trends
2.1.2. Regional trends
Chapter 3. Healthcare Artificial Intelligence Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 – 2025
3.3. Industry impact forces
3.3.1. Growth drivers
220.127.116.11. Rising adoption of healthcare artificial intelligence in research areas
18.104.22.168. Increasing range of future applications
22.214.171.124. Advancements in big data analytics
126.96.36.199. Favorable funding scenario in China and Singapore
188.8.131.52. Potential to increase quality of care delivery
3.3.2. Industry pitfalls and challenges
184.108.40.206. High initial capital requirement
220.127.116.11. Large scale human unemployment
18.104.22.168. Difficulty in deployment
22.214.171.124. Start-up scenario
3.4. Healthcare artificial intelligence projects
3.5. Microsoft announced new AI-powered health bot project
3.5.1. iCarbonX heads consortium using artificial
3.5.2. Orbital Media develops cutting edge artificial intelligence technologies
3.5.3. Partners HealthCare and GE collaborates
3.6. Medical and technological advancements
3.6.3. Asia Pacific
3.7. Regulatory landscape
3.8. Growth potential analysis
3.8.1. By application
3.9. Porter’s analysis
3.10. Competitive landscape, 2017
3.10.1. Strategy dashboard
3.11. PESTEL analysis