AI in healthcare industry finds application in medical imaging and diagnostic, patient data and risk analysis, precision medicine, drug discovery, virtual assistant, inpatient care and hospital management, wearables, research, robot assisted surgery, fraud detection and others. Patient data and risk analysis application is projected to register considerable growth during the forecast period. Growing number of patient base and increasing adoption of healthcare IT solutions such as EHR in healthcare settings is expected to foster the growth of AI in patient data and risk analysis.
The key end user of AI in healthcare market include healthcare providers, pharmaceutical and biotechnology companies, healthcare payers and patients. AI in healthcare is mostly utilized by the healthcare providers, mainly due to increasing concern towards improving hospital in-patient care, growing adoption of EHR in hospitals, small to medium sized clinics and ambulatory care centers.
The key factors that drive the growth of the industry include rise in need for coordination between healthcare workforce and patients, increasing application of Big Data in healthcare industry, ability of AI to improve patient outcomes, growing demand for precision medicine and increase in venture capital investments.
With the increasing use of big data in healthcare sector, the vast amount of data can be stored systematically, as big data makes it easier for hospital staff to work efficiently. In order to monitor blood pressure, heartbeat and respiratory rate sensors are used besides patient beds which alert the doctors and hospital staff if any change is observed in the patient condition. Big data also help to fight cancer and mapping the 3 billion DNA base pairs during treatment of cancer. Big data improves hospital administration by reducing the cost of care measurement and provide best clinical support.
North America leads the global market due to presence of major AI providers including Intel Corporation, Google, Inc., IBM Corporation in the region. Other factors leading the market growth include, developed healthcare infrastructure, and growing aging population. Asia-Pacific is expected to witness the fastest growth during the forecast period. Increasing healthcare expenditure, continuously improving healthcare infrastructure due to growing medical tourism and growing aging population are the factors expected to support the growth of the Asia-Pacific AI in healthcare market.
Key players in the global AI in healthcare market include Intel Corporation, IBM Corporation, Microsoft Corporation, Google, Inc., General Electric Company, NVIDIA Corporation, Medtronic Plc, Koninklijke Philips N.V., iCarbonX, Next IT Corp., Welltok, Inc., General Vision, Inc, Recursion Pharmaceuticals, Enlitic, Inc. Stryker Corporation, Deep Genomics, Inc., and Oncora Medical, Inc.
The key end user of AI in healthcare market include healthcare providers, pharmaceutical and biotechnology companies, healthcare payers and patients. AI in healthcare is mostly utilized by the healthcare providers, mainly due to increasing concern towards improving hospital in-patient care, growing adoption of EHR in hospitals, small to medium sized clinics and ambulatory care centers.
The key factors that drive the growth of the industry include rise in need for coordination between healthcare workforce and patients, increasing application of Big Data in healthcare industry, ability of AI to improve patient outcomes, growing demand for precision medicine and increase in venture capital investments.
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North America leads the global market due to presence of major AI providers including Intel Corporation, Google, Inc., IBM Corporation in the region. Other factors leading the market growth include, developed healthcare infrastructure, and growing aging population. Asia-Pacific is expected to witness the fastest growth during the forecast period. Increasing healthcare expenditure, continuously improving healthcare infrastructure due to growing medical tourism and growing aging population are the factors expected to support the growth of the Asia-Pacific AI in healthcare market.
Key players in the global AI in healthcare market include Intel Corporation, IBM Corporation, Microsoft Corporation, Google, Inc., General Electric Company, NVIDIA Corporation, Medtronic Plc, Koninklijke Philips N.V., iCarbonX, Next IT Corp., Welltok, Inc., General Vision, Inc, Recursion Pharmaceuticals, Enlitic, Inc. Stryker Corporation, Deep Genomics, Inc., and Oncora Medical, Inc.
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