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Healthcare Artificial Intelligence Market forecast to reach $10bn by 2024

06-12-2017 02:00 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc.

Global Market Insights, Inc.

Global Market Insights, Inc.

The global industry report "Healthcare Artificial Intelligence Market Size By Application (Medical Imaging & Diagnosis, Drug Discovery, Therapy Planning, Hospital Workflow), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Brazil, Mexico, South Africa), Growth Potential, Competitive Market Share & Forecast, 2017 - 2024" by Global Market Insights, Inc. says healthcare artificial intelligence industry value, worth USD 750 million in 2016, is predicted to hit USD 10 billion by 2024.

In a major development that can positively impact Healthcare Artificial Intelligence Market growth, Babylon Health, a UK based digital health firm has raised nearly USD 60 million in April 2017 to diagnose patient illness by creating an AI chatbot on their smartphones. High investments made by various industry players to build more robust machine learning algorithms and big data analytics applications to deliver more effective healthcare services will completely change the medical diagnosing & treatment phase of the industry. This will help in grooming the healthcare artificial intelligence business reach greater heights.

Request for a sample of this research report - https://www.gminsights.com/request-sample/detail/1557

New breakthroughs in the field of clinical research, genomics, robotic personal assistants, and precision medicine are expected to propel Precision Medicine Market, which in turn is creating a wide set of opportunities for healthcare artificial intelligence industry globally. Evolution of new disease monitoring and treatment methods will eventually produce huge business growth prospects for the market.

Healthcare artificial intelligence finds wide application in drug discovery, hospital workflow, medical imaging & diagnosis, and therapy planning. Drug discovery applications, which contributed more than 35% of healthcare artificial intelligence industry share in 2016, are forecast to hit USD 4 billion by 2024. The growth can be credited to the ability of machine learning and artificial intelligence technologies to favorably influence the drug design as well as drug development & delivery success rates.

Browse key industry insights spread across 105 pages with 35 market data tables & 8 figures & charts from this 2017 report Healthcare Analytics Market in detail along with the table of contents at:

https://www.gminsights.com/industry-analysis/healthcare-artificial-intelligence-market

Medical imaging & diagnosis sector is expected to hit the revenue of over USD 2.5 billion by 2024, owing to its ability to identify cancer at initial phase by detecting the rapid proliferation of tumor cells. Enhanced use of artificial intelligence in this sector will further accelerate healthcare artificial intelligence market revenue.

Considering the topographical trends, U.S. healthcare artificial intelligence industry, which was estimated at USD 320 million in 2016, is projected to grow at a rate of 38% over the period of 2017-2024. Supportive government regulations encouraging the use of big data analytics coupled with new inventions in the healthcare sector will propel the regional development.

Japan healthcare artificial intelligence market, which accounted over 35% of Asia Pacific healthcare artificial intelligence industry size in 2016, is projected to witness a tremendous growth over the coming seven years. Large-scale presence of healthcare firms and universities inventing new healthcare AI technologies will contribute substantially towards the regional revenue.

Brazil industry, which contributed over 48% of LATAM healthcare artificial intelligence market revenue in 2016, is forecast to experience a huge surge over the coming timeframe. Mounting awareness about the benefits accrued due to the application of artificial intelligence technology in the healthcare sector will spur the industry expansion across the region.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1557

Europe healthcare artificial intelligence industry, worth USD 270 million in 2016, is projected to record a CAGR of 39% over 2017-2024 subject to rising utilization of AI technology by various firms to improve the healthcare treatment along with its cost-reduction.

The UK healthcare artificial intelligence market is forecast to cross the revenue margin of USD 800 million by 2024 and will further boost the Europe industry size over the years to come. Entrepreneur-friendly environment across the country coupled with escalated use of artificial intelligence technology in genomics supported & guided by high R&D finding will drive the regional share.

Healthcare artificial intelligence industry in China is projected to record a CAGR of 45% from the period of 2017 to 2024, steered by the launching of new technologies such as artificial intelligence and big data analytics across the healthcare sector.

Healthcare artificial intelligence market is highly fragmented due to the large presence of key industry players and new entrants. Welltok Incorporation, Pathway Genomics, Cyrcadia Health Incorporation, Atomwise, Enlitic, Lifegraph Limited, Insilico Medicine Incorporation, IBM Watson Health, iCarbonX, Google Incorporation, Zebra Medical Vision, Microsoft Corporation, Sophia Genetics, Modernizing Medicine Incorporation, Butterfly Network Incorporation, APIXIO, and AiCure are the major participants of healthcare artificial intelligence industry.

Browse Related Reports:

Healthcare Analytics Market Size By Product (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Operations Management, Financial Management, Population Health Management, Clinical Management), By End-Use (Hospitals, Clinics, Physicians, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/healthcare-analytics-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com

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