Artificial Intelligence in Healthcare Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2023

According to a new report published by Big Market Research, titled, AI in Healthcare Market by Offering, Technology, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global AI in healthcare market was valued at $1,441 million in 2016, and is estimated to reach at $22,790 million by 2023, registering a CAGR of 48.7% from 2017 to 2023. North America is the highest contributor in the AI in healthcare market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
AI involves the science and engineering of intelligent computer programs. It uses various computer functions such reasoning, learning and problem solving based on human intelligence. AI systems can be used in various disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering to build an intelligent system. Some of the different applications that incorporate the AI systems in healthcare fields are medication management, treatment plans, and drug discovery.
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Artificial intelligence assists the machines to perform any task without human interventions. It uses different algorithms and software that help the machine to inculcate perception and reasoning for various situations. AI is widely applicable in the healthcare sector for various purposes such as drug discovery and precision medicine. In addition, it is used to analyze patient’s medical data, to predict disease onset, and personalize treatment provided to the patient. The global AI market was valued at $1,441 million in 2016, and is estimated to reach at $22,790 million by 2023, registering a CAGR of 48.0% from 2017 to 2023.

The AI market is segmented based on offering, technology, application, end user, and geography. On the basis of offering, the market is divided into hardware, software, and services. By technology, it is classified into deep learning, querying method, natural language processing, and context aware processing. Applications covered in the study include robot-assisted surgery, virtual nursing assistant, administrative workflow assistance, fraud detection, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and others. According to end user, the market is categorized into healthcare provider, pharmaceutical & biotechnology company, patient, and payer Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market growth is driven by rise in adoption rate of AI systems and delete technological advancements in the AI field. In addition, the ability of these systems to improve patient outcomes, increase in adoption of precision medicine, and increase in need for coordination between healthcare workforce & patients are expected to fuel the market growth. However, lack of standard regulations and guidelines and reluctance among healthcare professionals to adopt AI-based technologies are expected to hinder the market growth.

KEY BENEFITS FOR STAKEHOLDERS
• This report offers a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
• The market estimations provided are based on comprehensive analysis of the key developments in the industry.
• In-depth geographical analysis facilitates to analyze the regional market to assist in strategic business planning.
• The developmental strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market

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Market Segment by Manufacturers, this report covers – Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., Next IT Corporati
KEY MARKET SEGMENTS
By Offering
• Hardware
• Software
• Service

By Technology
• Deep Learning
• Querying Method
• Natural Language Processing
• Context Aware Processing

By Application
• Robot-assisted Surgery
• Virtual Nursing Assistant
• Administrative Workflow Assistance
• Fraud Detection
• Dosage Error Reduction
• Clinical Trial Participant Identifier
• Preliminary Diagnosis
• Others

By End User
• Healthcare Provider
• Pharmaceutical & Biotechnology Company
• Patient
• Payer

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Market Segment by Table of Contents:
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models

CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. REGULATION AND REIMBURSEMENT SCENARIO
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Increasing processing power of AI systems leading to better AI capabilities
3.5.1.2. Dearth of skilled healthcare professionals
3.5.2. Restraints
3.5.2.1. Limitations of AI decision-making
3.5.2.2. Limited acceptance from healthcare professionals owing to risk of injury and misinterpretation
3.5.3. Opportunities
3.5.3.1. Application of AI for novel surgeries and screening
3.5.3.2. Untapped market in developing regions

CHAPTER 4 ARTIFICIAL INTELLIGENCE IN HEALTHCARE MARKET, BY OFFERING
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. HARDWARE
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.3. SOFTWARE
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.4. SERVICES
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

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