DUBLIN, Jun 18, 2021--(BUSINESS WIRE)--The "Artificial Intelligence (AI) in Healthcare Market 2020-2026" report has been added to ResearchAndMarkets.com's offering.
The global market for AI in healthcare is projected to have a CAGR of around 51.5% during the forecast period.
Amara Health Analytics Inc.
Bay Labs, Inc.
General Electric Co.
Johnson & Johnson Services Inc.
Koninklijke Philips N.V.
MedAware Systems, Inc.
Micron Technology Inc.
AI is the technology that combines the power of machine learning and deep learning technology used by many sectors including remote sensing, medical diagnosis, electronic trading, transportation, education, and others. It is one of the essential tools in the healthcare industry as it supports analyzing complex medical data by utilizing software and algorithms.
The AI-based technologies are also supported in detecting and preventing diseases in patients. Some of the factors attributing to the growth of the market include increasing demand for early and effective detection of diseases as people are becoming conscious regarding their health. Therefore, advanced AI technology supports in detecting the diagnosis of diseases on an early basis. Another factor being an increasing investment in healthcare to provide better healthcare facilities to patients that result in cost and time reduction of major surgeries.
However, some factors are hindering the growth of the market that includes security concerns with technology as all the data is stored in a wide area network called IoT where leakage of information can take place along with loss of services. Additionally, there must be the availability of relevant data in order to make AI work and without such proper data it's impossible to make them work is another restraint for the market. Since there is a substantial increase in government funding, investment in R&D and venture capital is creating significant opportunities for the growth of the market.
Impact of COVID-19 on AI in Healthcare Industry
The COVID-19 has accelerated the adoption of AI in the healthcare sector, where AI-based solutions can be deployed at scale and respond more quickly to the dynamic nature of such crisis. Many market players universities, established companies, and start-ups are collaborating for the integration of AI in healthcare industry. For Instance, Current Health the UK-based remote monitoring company are supporting Mayo clinic and Baptist Health with their COVID-19 responses by contributing to the industry by high-speed digital adoption and scaling faster to meet demand during such crisis. The companies such as Google, Microsoft, Apple are also involved in initiatives including contact tracing, drug development, remote communications between patients and clinicians among others. COVID-19 has encouraged unparalleled data sharing and collaboration efforts, for instance, C3 AI has created a data lake accessible through APIs that contain a growing number of COVID-19 related data sets including genomic sequences of virus samples and image data. These initiatives will be establishing new infrastructures that will be driving the future growth of AI in healthcare industry.
The Report Covers
Market value data analysis of 2019 and forecast to 2026.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global AI in the Healthcare market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where in the market.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
3.1. Key Company Analysis
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of Covid on key players
4. Market Determinants
5. Market Segmentation
5.1. Global AI in Healthcare market by Product Type
5.1.2. Software and Services
5.2. Global AI in Healthcare market by Application
5.2.3. AI Enabled Hospital Care
5.2.4. Drug Discovery
5.2.5. Others (Remote Monitoring)
5.3. Global AI in Healthcare market by End-user
5.3.1. Hospitals and Healthcare Facilities
5.3.2. Personal Care
5.3.3. Biotechnology and Pharmaceutical Companies
6. Regional Analysis
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/r6czrd
View source version on businesswire.com: https://www.businesswire.com/news/home/20210618005294/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900