New York, NY, March 25, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Artificial Intelligence (AI) in Healthcare Market by Offering (Hardware, Software, and Services), by Technology (Machine Learning, Context-Aware Computing, Natural Language Processing, Computer Vision, Speech Recognition, and Querying Method), by Application (Health Monitoring, Digital Consultation, Virtual Nurses, Precision Medicine, Drug Creation, Healthcare System Analysis, and Others), and by End-User (Clinics, Diagnostic Centers, Pharmaceutical Organizations, Hospitals, and Others): Global industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global artificial intelligence (AI) in healthcare market was around USD 1.4 billion in 2018 and is expected to reach approximately USD 17.8 billion by 2025, at a CAGR of 43.8% between 2019 and 2025.

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.

Browse through 91 Tables & 35 Figures spread over 202 Pages and in-depth TOC on “Global Artificial Intelligence (AI) in Healthcare Market: Industry Size, Share, Trends, Analysis Report and Forecast 2018–2025”.

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One of the major concerns in healthcare industry of developing countries is inadequate doctors’ population. According to the World Health Organization (WHO), nearly 57 countries globally are facing a shortage of 2.3 million nurses and physicians. Therefore, the demand for improvising healthcare accessibility is currently at its peak. The integration of artificial intelligence (AI) in healthcare sector will significantly automate the basic medical facilitates. Healthcare facility automation is not only helpful to patients but also to the doctors, as it enables them with extra time to concentrate on critical cases. AI analysis helps in providing generalized advice to patients. Additionally, insufficient doctor population in emerging economies is also driving this market demand worldwide. Furthermore, many scientists globally are utilizing AI technology for the prediction of the death rate. The absence of skilled medical workforce that can follow prescribed AI software guidelines is hindering this overall market. The number of individuals aged 60 or above is anticipated to double by 2050. Thus, revolutionizing elderly care products through the integration of AI technology, such as wireless home monitoring and wearable devices with personal emergency response system (PERS), is estimated to offer new growth opportunities over the forecast timeframe.

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.

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North America is likely to dominate the global artificial intelligence (AI) in healthcare market over the estimated timeframe, due to the presence of renowned market players. The U.S. is likely to lead this regional market, as it is the corporate headquarters of several market players, such as Microsoft, IBM, Google, NVIDIA, AWS, Intel, GE, and Xilinx. In addition, the region is frequently witnessing market relevant business activities, such as mergers, acquisitions, partnerships, and product launches. Globally renowned medical device provider, Medtronic along with its strategic technological partner IBM launched AI-powered Sugar.IQ(TM) diabetes management application for improvising diabetes management on daily a basis on June 22nd, 2018.

Europe is projected to hold a notable share of the global artificial intelligence (AI) in healthcare market over the estimated timeframe, due to the early adoption of AI technology. The European artificial intelligence (AI) in healthcare market accounted for over USD 320 million in 2016 and is estimated to reach USD 1,613.5 million by 2019. The region adopted AI solutions in healthcare with ease due to the presence of developed economies, such as Germany, UK, and France. As per the European e-Health community, approximately 21% of healthcare facilities have a specific purchase plan of AI tools that is predicted to be executed in the upcoming years.

Browse the full “Artificial Intelligence (AI) in Healthcare Market by Offering (Hardware, Software, and Services), by Technology (Machine Learning, Context-Aware Computing, Natural Language Processing, Computer Vision, Speech Recognition, and Querying Method), by Application (Health Monitoring, Digital Consultation, Virtual Nurses, Precision Medicine, Drug Creation, Healthcare System Analysis, and Others), and by End-User (Clinics, Diagnostic Centers, Pharmaceutical Organizations, Hospitals, and Others): Global industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/artificial-intelligence-in-healthcare-market

In the Asia Pacific region, the low doctor to population ratio is a major concern of the healthcare sector in emerging economies, such as India and China. According to the World Health Organization (WHO), doctor's population ratio in India is less than 1 for 1000 people and for China, the ratio is 1.49 for 1000 people. Asian countries are integrating AI tools that can improve basic medical facilities, such as data entry and verifying patient's medical history through a questionnaire. This saves medical practitioners from time-consuming activities, which will give them more time to focus on critical patients.

The Latin American market is primarily driven by rapid technological advancements and rising demand for real-time medical devices. AI technology for home monitoring equipment healthcare application is observed to be in high across the region. The home healthcare market in Latin America is estimated to account USD 17.5 billion by 2020 and grow annually at a rate of 8.6%. The government of the Middle East and Africa is taking initiatives for improvising its healthcare sector by integrating AI tools for various medical applications.

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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.

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This report segments artificial intelligence (AI) in healthcare market as follows:

Artificial Intelligence (AI) in Healthcare Market: Offering Analysis

  • Hardware
  • Software
  • Services

Artificial Intelligence (AI) in Healthcare Market: Technology Analysis

  • Machine Learning
  • Context-Aware Computing
  • Natural Language Processing
  • Computer Vision
  • Speech Recognition
  • Querying Method

Artificial Intelligence (AI) in Healthcare Market: Application Analysis

  • Health Monitoring
  • Digital Consultation
  • Virtual Nurses
  • Precision Medicine
  • Drug Creation
  • Healthcare System Analysis
  • Medication Management
  • Others

Artificial Intelligence (AI) in Healthcare Market: End-User Analysis

  • Clinics
  • Diagnostic Centers
  • Pharmaceutical Organizations
  • Hospitals
  • Others 

Artificial Intelligence (AI) in Healthcare Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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