Artificial Intelligence in Healthcare Market: Anticipated to grow at a CAGR of around 48.29% by 2027- According to Absolute Markets Insights | Profiling Players like: General Electric, General Vision, Google and others

Artificial Intelligence in Healthcare Market

“Artificial Intelligence (AI) in Healthcare – A Hope or another Hype?  Recently, cancer diagnosis combines histological staining associated with tissue biopsies, and an assessment of the physical properties regarding potentially cancerous cells. The early detection of cancer still remains a major goal in modern medicine. In 2018, the researchers of Mechanobiology Institute, the Massachusetts Institute of Technology, USA and National University of Singapore, have essentially developed a machine learning pipeline for cell nuclei images analysis which will eventually help in detecting and diagnosing cancer in an early stage.”

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Technologies such as artificial intelligence helps in harnessing the power of data, presenting huge opportunities to transform healthcare. This enhances the quality of life and also makes the healthcare environment more rewarding. It also helps in drug discoveries for diseases such as cancer. Breast Cancer is caused by a genetic abnormality. According to the U.S. National Cancer Institute, the breast cancer expenditure was estimated to be US$ 23.78 billion in 2017. In 2016, breast cancer accounted for the highest cost of all cancers in the European Union region. As a result, novel approaches developed within AI have bought new innovations in breast cancer diagnosis process. Computer-aided detection system has gained a lot of attention in diagnosing breast cancer early.

Some of the major players operating in the global artificial intelligence in healthcare market are: Bay Labs, Inc, CloudMedx Inc., Enclitic, Welltok, General Electric, General Vision, Google Inc., Microsoft, IBM Corporation, iCarbonX, Intel Corporation, Koninklijke Philips, maxQ, Next IT Corp., Nvidia Corporation, Siemens Healthcare GmbH amongst others.

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The first approved CAD system for mammography was the R2 Image Checker M1000. The same was approved by the U.S. Food and Drug Administration (FDA). Variety of AI techniques have been widely applied for detection and survivability owing to cancer disease and an improvement of 15% to 25% has been observed. Research institutes developed AI methods for training computers and interpreting pathology images, with the goal of building AI-powered systems to make pathologic centers more accurate & precise in nature.

However, limitations such as small amount of data samples, feature selection approaches amongst others has critically impacted the global market growth in the recent past. Steps are being adopted to promote breast cancer research using the AI which includes R&D interdisciplinary studies and collaboration & partnership of the young researcher’s.  

The detailed research study provides qualitative and quantitative analysis of the global artificial intelligence in healthcare market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue as well as sales volume across regions and further, across all the major countries. The supply side analysis covers regional production volume and capacity analysis. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Artificial Intelligence in Healthcare Market Segmentation Analysis:

By Component

  • Hardware
  • Software
  • Service

By Technology

  • Querying Method
  • Natural Language Processing
  • Context Aware Processing
  • Speech Recognition
  • Decision Management
  • Others (Biometrics, AI Modeling, Etc.) 

By Application

  • Robot assisted Surgery
  • Virtual Nursing Assistants
  • Administrative Workflow Assistance
  • Fraud Detection, Connected Machines
  • Clinical Trails
  • Preliminary Diagnosis
  • Others (Dosage Error Reduction, Cybersecurity, Etc.)

By End Users

  • Healthcare Providers
  • Pharmaceutical & Biotechnology Company
  • Patient
  • Payer

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic
      • Denmark
      • Finland
      • Iceland
      • Norway
      • Sweden
      • Rest of Nordic
    • The Benelux Union
      • Belgium
      • the Netherlands
      • Luxemburg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • New Zealand
    • Southeast Asia
    • Rest of Asia Pacific
  • Middle East and Africa
    • GCC Countries
    • Southern Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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