The global artificial intelligence (AI) in medicine market was valued at $719 million in 2017 and is estimated to reach $18,119 million at a CAGR of 49.6% from 2018 to 2025

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Dec 19, 2018, 20:03 ET

NEW YORK, Dec. 19, 2018 /PRNewswire/ -- Artificial Intelligence in Medicine Market by Product Type (Hardware, Software, and Services), Technology (Deep Learning, Querying Method, Natural Language Processing, and Context Aware Processing), and Application (Drug Discovery & Repurposing, Clinical Research Trial, Personalized Medicine, and Others) - Global Opportunity Analysis and Industry Forecast, 2018-2025

Read the full report: https://www.reportlinker.com/p05563984

The global artificial intelligence (AI) in medicine market was valued at $719 million in 2017 and is estimated to reach $18,119 million at a CAGR of 49.6% from 2018 to 2025. AI is an intelligent system that applies various human intelligence-based functions such as reasoning, learning, and problem-solving skills. AI technology uses software and different algorithms in the field of pharmaceuticals to support the decision-making processes for existing drugs and repurposing drugs to treat other conditions, along with accelerating the clinical trials process by finding the right patients from several data sources.

Shortage of skilled healthcare professionals and increase in the processing power of AI systems that is projected to help improve the efficiency of drug discovery and management of clinical trials majorly drive the growth of the global artificial intelligence in medicine market. Furthermore, the growth in importance of precision medicine and rise in funding of the R&D activities for the use of AI technology in the field of medicine are expected to fuel the market growth. However, limited acceptance from healthcare professionals and limitations of AI decision-making can impede the market growth. Untapped market opportunities available in developing regions such as India and China help to open new avenues for the growth of the artificial intelligence in medicine market in future.

The global artificial intelligence in medicine market is segmented based on product type, technology, application, and region. Based on product type, the market is segmented into hardware, software, and service. Based on technology, the market is classified into deep learning, querying method, natural language processing, and context aware processing. Based on application, the market is categorized into drug discovery & repurposing, clinical research trial, personalized medicine, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY MARKET BENEFITS FOR STAKEHOLDERS
This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities.
Market estimations are based on comprehensive analysis of the key developments in the industry.
The global market is comprehensively analyzed with respect to product type, technology, application, and region.
In-depth analysis based on region assists to understand the regional market to help in strategic business planning.
The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.

KEY MARKET SEGMENTS

By Product Type
Hardware
Software
Service

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

By Application
Drug Discovery & Repurposing (Preclinical Phase)
Clinical Research Trial
Personalized Medicine
Others

By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Taiwan
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

KEY PLAYERS PROFILED
Welltok, Inc.
Intel Corporation
Nvidia Corporation
Google Inc.
IBM Corporation
Microsoft Corporation
General Vision, Inc.
Enlitic, Inc.
BioXcel Corporation
Berg Health.

The other players of the artificial intelligence in medicine market include (companies not profiled in the report):
InSilico Medicine, Inc.
Globavir Biosciences, Inc.
GNS Healthcare
Flatiron Health
Benevolent AI
Atomwise
Verge Genomics
Cloud Pharmaceuticals
Recursion Pharmaceuticals

Read the full report: https://www.reportlinker.com/p05563984

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