Sarasota, FL -- (SBWire) -- 03/26/2019 --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.
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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.
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.
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.
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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.
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
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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
Global Artificial Intelligence (AI) in Healthcare Market Is Anticipated to Reach Around USD 17.8 Billion by 2025
Global artificial intelligence (AI) in healthcare market 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).