Healthcare Artificial Intelligence Market : Key Information By Top Key Player | IBM Watson Health, iCarbonX, Pathway Genomics, AiCure, Atomwise, and Cyrcadia Health

Healthcare Artificial Intelligence (AI) Market is forecast to exceed USD 10 billion by 2024 according to this new research report.
Increasing usage of big data in the medical field, the pressure to curb the health care costs, increasing significance of precision medicines, and the significant increase in investments should fuel industry growth over the forecast timeframe. Growing usage of artificial intelligence in genomics research, reduced workload, and increased quality of care delivery will further stimulate industry growth.

Healthcare AI gives plenty of opportunities across the diverse set of therapy areas, including diagnostics, wellness, and lifestyle management. Moreover, technological advancement for effective diagnosis and treatment will further help in industry expansion. The high cost of deployment and the huge amount of initial investment can hamper the market growth. Artificial intelligence implementation will lead to a large scale of human unemployment which could impede the business growth over the coming years.

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The AI software is expected to grow at a lucrative rate due to increasing usage of software in patient data analysis and research, in-patient care, and hospital management. It provides assistance in medical imaging and diagnostics which will further drive the industry growth. Based on application, the drug discovery segment is expected to grow at a higher pace owing to the applications of AI solutions in drug discovery. The machine learning algorithm drives the R&D activity and helps in reducing the drug development time.

U.S. is dominating the healthcare artificial intelligence market due to the adoption of EMR, increasing emphasis on precision drugs, and the existence of leading companies which are involved in developing solutions. Increasing investments and presence of sophisticated healthcare infrastructure will also drive the U.S. artificial intelligence market.

Germany healthcare artificial intelligence market is expected to grow at a higher pace due to increasing application in the medical sector. Besides, AI solutions help in increasing safety for patients and this will further fuel the growth of the market. Increased governmental initiatives such as Assocham, growing public-private partnerships, and the improvement in healthcare infrastructure will drive Indian artificial intelligence market.

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Deep learning technology is expected to grow at a significant rate due to the mandatory government regulations such as the application of EHR in health centers. The deep learning technology consists of image recognition, signal recognition, and data mining. The companies are working towards developing deep learning technology for structure based small molecular drug discovery. The upcoming business areas in which the companies are looking forward to venturing are genomics, drug discovery, health patient engagement, and oncology.

Major Industry players are AiCure, Atomwise, Cyrcadia Health, IBM Watson Health, Lifegraph, Modernizing medicine, Zebra medical vision, Sensely, Sophia Genetics, iCarbonX, Welltok, APIXIO, Pathway Genomics, Insilico Medicine, and Butterfly Network. The investments in artificial intelligence market is increasing fanatically. The industry is more inclined towards the startups.

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