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.
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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 Artificial Intelligence Market in detail along with the
table of contents at:
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.
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.
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
About Global Market Insights:
Global Market
Insights, Inc., headquartered in Delaware, U.S., is a global market research
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