Artificial Intelligence in Healthcare Market Know the Key Growth Drivers Developments and Innovations 2018-2026 : IBM Corporation, Google, NVIDIA Corporation, Microsoft Corporation, iCarbonX

To make healthcare accessible to all, in this low doctor-population ratio (in case of India) economies or in economies such as the U.S., development of innovative technologies such as AI is important. It may aid in giving general advice to patients and predict the fall in healthcare facilities, readmission rate, and even death. For instance, Your.MD, an AI empowered system, provides general advice. The chatbot asks user various questions to link these information or symptoms to causes and then provides easy-to-understand information about individual’s medical conditions. Furthermore, a Silicon Valley-based hospital, El Camino Hospital implemented AI for predicting fall in the hospital in September 2017. According to the hospital, in just six months technology was helpful in reducing the rate of dangerous fall by 39%. Moreover, in January 2018, a team of six scientists at Stanford University, utilized this technology to predict death of people. If successfully implemented, this can significantly improve palliative care. A Netherlands-based company, Vektis Intelligence, uses artificial intelligence to analyze data to highlight mistakes in treatments, helps in avoiding unnecessary patient hospitalizations, and helps in streamlining workflow inefficiencies. Successful implementation of AI to improve basic healthcare facilities by highlighting error in prescription or predicting fall or death is expected to boost growth in artificial intelligence in healthcare market.

The global artificial intelligence in healthcare market was valued at US$ 714.4 million in 2016 and is expected to witness a robust CAGR of 35.5% over the forecast period (2017–2025).

Request Sample Copy of This Research Report: http://bit.ly/2WbM6Rw

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.

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

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.

Key players in the market are focusing on collaborations in order to expand its presence in the market. For instance, in 2017, Nvidia Corporation collaborated with GE Healthcare to speed up the adoption of AI in healthcare. As per agreement, Nvidia Corporation is expected to integrate its artificial intelligence (AI) to GE Healthcare’s 500,000 imaging devices, globally.

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., and Oncora Medical, Inc.

Download The PDF Brochure of This Research Report: http://bit.ly/2I39kzf

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr.Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:sales@coherentmarketinsights.com

This release was published on openPR.