Artificial
Intelligence (AI) refers to the formation of intelligent systems that are able
to execute tasks without human interventions & instructions. It includes
different technologies for instance natural language processing, perception,
machine learning, and reasoning. It is being adopted in healthcare with
algorithm & software over the analysis of medicinal data with a view of
predicting diseases and giving proper medication. The AI is mainly used in the
healthcare sector to exam the relationship between patient outcomes with the treatment
techniques. AI programs are organized in medical practices for instance
diagnostic processes, personalized medicines, drug development, and patient
monitoring care. AI could also assist in clinical processes by checking the
essential signs, asking questions, and providing prescriptions to the patients.
AI techniques provide alerts & reminders, information retrieval, image
interpretation, and therapy planning during the medical procedures.
According to
study, “Artificial Intelligence (AI) in
Healthcare Market - Global Drivers, Opportunities, Trends, and Forecasts to
2022” the
key companies currently operating in the artificial intelligence in healthcare
market are IBM, Google Inc., Microsoft Corp., Apple Inc., Medtronic Inc., Johnson
& Johnson Services, Siemens healthineers, Nvidia Corp., General Electric
(GE) Company, CareScore, Zephyr Health Inc., Atomwise Inc., Deep Genomics Inc.,
Oncora Medical Inc., Next IT Corp., Welltok Inc., General Vision, Bay Labs
Inc., Koninklijke Philips, Amazon Web Services, Healthsense Inc., Intel, CloudMex
Inc., iCarbonX, Sentrian, Propeller Health, Buoy Health.
Based on
offering, artificial intelligence in healthcare market is segmented into
software, hardware and services. Software includes AI platform (Application
Program Interface (API) & machine learning framework) and AI solutions
(cloud & on-premises). Hardware includes memory, network and processor
(GPU, ASIC, MPU & FPGA). Based on technology, market is segmented as
context aware computing, machine learning (supervised learning, deep learning
& reinforcement learning), and natural language processing and computer
vision. Deep learning technology is used for signal recognition, image
recognition, and data mining. Natural language processing includes extracting
information from unstructured data for instance clinical notes and medical
journals. Based on end-use application, market is segmented into inpatient care
& hospital management, lifestyle management & monitoring, patient data
& risk analysis, medical imaging & diagnostics, drug discovery, virtual
assistant, research, precision medicine, healthcare assistance robots,
wearables, emergency room & surgery and mental health.
The artificial
intelligence in healthcare sector is primarily driven by dearth of skilled
healthcare professionals, growing demand to reduce healthcare costs, increasing
large & complex data set, increase in processing power for enhancing AI capabilities
and application of AI for novel surgeries & screening. Apart from the major
advantages, some of the key restraints associated with market includes limited
acceptance from healthcare professional due to risk of injury & misinterpretation
and limitations of AI decision making. Moreover, concerns regarding data
privacy, lack of curated healthcare data and lack of interoperability between
AI solutions offered by various vendors adding to the major challenges for
market. In addition, the key opportunities include increase of focus on
developing human-aware AI systems and growing potential of AI-based tools for
elderly care.
North American
region is expected to direct the global artificial intelligence (AI) in
healthcare market over the anticipated time frame, owing to the presence of
renowned market players. European market is also projected to hold a
distinguished share in the global market due to early adoption of AI
technology. In addition, the Asia
Pacific region with the low doctor population percentage adding to a key
concern in the healthcare sector among the emerging economies, such as China &
India. The future of the market is expected to grow by the rising demand for
real-time medical devices and rapid technological advancements over the
forecast period.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
