Artificial Intelligence in Medicine Market Outreaches $18,119 million at a CAGR of 49.6% by,2025

In the field of medicine, artificial intelligence (AI) can be used for research research and applications that support decision-based medical tasks using data-intensive computer-based solutions. For all drugs launched in the market, the pharmaceutical industry spends an average of $ 2.7 billion, which will amortize the losses incurred from the discontinued pipeline. Nearly 90% of all drug programs that have reached the clinical trial stage will be discontinued. Therefore, many major pharmaceutical and academic research institutions focus on the use of AI to increase efficiency and design better medicines.

Global artificial intelligence in the Medicine market is estimated at $ 719 million in 2017 and is estimated to reach $ 18,119 million at a CAGR of 49.6% from 2018 to 2025. With the help of algorithms and software. The development of new pharmaceuticals and biologics by clinical trials can take more than 10 years during their holding period and costs billions of dollars. AI technology can help to make this process faster and cheaper, which in turn is expected to help improve the efficiency of pharmaceutical and biotechnology companies.

Get sample copy of this report @ www.alliedmarketresearch.com/request-sample/4749

The main factors that drive the growth of AI in the drug market include the shortage of qualified healthcare professionals, the growth of the importance of precision medicine and the increased processing power of AI systems, which is It estimates that it helps to improve the efficacy of the discovery and management of clinical trial drugs. However, the limited acceptance of healthcare professionals and the limitations of IA decision-making limit the growth of the market. On the contrary, it is expected that untapped market potential in developing regions such as India and China will provide numerous opportunities for market growth during the forecast period

Based on region, North America occupied the largest share in 2017 owing to availability of capital investments for use of AI in drug discovery and increase in adoption of AI technology by the pharmaceutical and biotechnology companies. However, Asia-Pacific is expected to grow at the highest CAGR of 55.0% during the study period, due to growth in healthcare expenditure, rise in the R&D activities for advancement in AI technology, lack of healthcare professionals, and increase in need to reduce the healthcare costs.

Top Key Players:
• Welltok Inc.
• Intel Corporation
• Nvidia Corporation
• Google Inc.
• IBM Corporation
• Microsoft Corporation
• General Vision Inc.
• Enlitic Inc.
• BioXcel Corporation

Send Enquiry on this report @ www.alliedmarketresearch.com/purchase-enquiry/4749

About Us:

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procure

Contact
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

This release was published on openPR.