Global Artificial Intelligence in Healthcare Market New Business Opportunities and Investment Research Study During 2025 Estimated By Global Top Players Google,Inc., IBM Corporation, Microsoft Corporation, CloudMex Inc., NVIDIA Corporation, iCarbonX

Artificial intelligence (AI) refers to creation of unique systems with the help of algorithms and software that can perform certain tasks without human intervention and instructions. Artificial intelligence comprises integration of several technologies such as machine learning, natural language processing, reasoning, and perception. AI is used in healthcare for approximation of human cognition and analysis of complex medical and diagnostic imaging data. Artificial intelligence is primarily used in healthcare to analyze the relationship between treatment techniques and patient outcomes.

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AI programs are deployed in medical practices such as diagnostic processes, drug development, personalized medicines, and patient monitoring care. For instance, AI could aid in clinical processes by checking the vital signs, asking questions, and giving prescriptions to the patients. AI systems can also be used for alerts and reminders, image interpretation, information retrieval, and therapy planning during medical procedures. Deep learning technology is used for image recognition, signal recognition, and data mining and is the most widely used form of AI technology.

Market Dynamics:

Increasing application of AI technologies, from pharma drug development to patient care is expected to support growth of artificial intelligence in healthcare market. Moreover, increasing number of collaborations among leading AI vendors and life sciences companies may help in rapid introduction of AI in medical devices and drug development. Pharmaceutical organizations can speed up the process of drug development, from drug discovery to commercialization, by using artificial intelligence. It can aid in development of personalized medicine. It is also increasingly being used for applications in advanced disease management such as cancer diagnosis and treatment, as studies have suggested that artificial intelligence may detect breast cancer spread to lymph nodes.

Researchers from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Harvard Medical School and Massachusetts General Hospital collaborated to apply AI in detection and diagnosis of breast cancer. The model developed by these scientists correctly diagnosed 97% of the cases. Artificial intelligence holds major potential in medical imaging and diagnosis of the diseases. Therefore, government organizations are increasing research in this field. For instance, In October 2017, National Clinical Research Center for Cancer (NCRCC) in China signed a deal with the Institute of Computing Technology under the Chinese Academy of Sciences (CAS), in order to use artificial intelligence in medical imaging.

Global Key Players:

Some major players operating in the artificial intelligence (AI) in healthcare market are:
IBM Corporation, Google, Inc., NVIDIA Corporation, Microsoft Corporation, iCarbonX, Next IT Corp., CloudMex Inc., Carescore, Atomwise Inc., Zephyr Health Inc., Deep Genomics Inc., Medtronic Plc., Koninkiljke Philips N.V., Oncora Medical, Inc.

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Detailed Segmentation:

Global Artificial Intelligence in Healthcare Market, By Solution:
Hardware,Software & Services

Global Artificial Intelligence in Healthcare Market, By Technology:
Speech Recognition, Querying Method, Natural Language Processing, Machine Learning, Context Aware Processing

Global Artificial Intelligence in Healthcare Market, By Application:
Imaging & Diagnostics, Drug Discovery, Lifestyle Management & Monitoring, Emergency Room & Hospital Management, nsights & Risk Analytics, Wearables, Virtual Assistants, Others

Global Artificial Intelligence in Healthcare Market, By End User:
Hospitals, Pharmaceutical Organizations, Diagnostic Centers, Clinics

Global Artificial Intelligence in Healthcare Market, By Geography:
North America, Europe, Asia Pacific, Latin America, Middle East, Africa

Increasing research and development for application of artificial intelligence in healthcare is expected to boost growth of the market:

Artificial intelligence systems are mainly categorized into machine learning techniques and natural language processing. Machine learning techniques involve analysis of structured data such as genetic data, and imaging data, whereas, natural language processing involves extracting information from unstructured data such as clinical notes, and medical journals. Microsoft Corporation and Adaptive Biotechnologies partnered to combine artificial intelligence with human immune system sequencing (from Adaptive Biotechnologies) in January 2018. The University of Massachusetts Amherst Center for Data Science partnered with Chan Zuckerberg Initiative (CZI) in January 2018 to accelerate healthcare research and development using artificial intelligence.

January 2018, Wilfrid Laurier University researchers and health researchers in Waterloo University collaborated to study the use of artificial intelligence for early detection of Alzheimer’s. Owkin France raised US$ 11 million in January 2018, to develop artificial algorithms for speeding up drug development process. Biotricity, Inc. —a medical diagnostic and consumer healthcare technology company —is expanding research and development, to include artificial intelligence into its product offerings. Furthermore, Ubenwa — a Nigerian Artificial Intelligence health startup — founded in 2014 —developed a mobile app to detect asphyxia in newborn babies using machine learning.

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