Global Artificial Intelligence in Medicine Market: Industry Analysis and Forecast (2020-2026) – by Technology, Component, Application, and Region.

Global Artificial Intelligence in Medicine Market size was valued at USD 4490.3 Mn in 2020 and is expected to reach USD 34882.58 Mn by 2019 at a CAGR of 39.6 % during the forecast period. The global Artificial Intelligence in Medicine market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Artificial Intelligence in Medicine report also provides trends by market segments, technology, and investment with a competitive landscape.

Overview of Artificial Intelligence in Medicine:

Computer approaches are mostly used in medical artificial intelligence (AI) to make clinical diagnostics and suggest therapies. AI can find important associations in data collection and has been used to diagnose, treat, and predict outcomes in a variety of clinical circumstances. The goal of this special issue is to show how different intelligent approaches used in medical informatics technology and applications might be useful. To perform clinical diagnostics and suggest therapies, medical artificial intelligence has been using a variety of computer-assisted technologies. AI can find important associations in data collection and has been used to diagnose, treat, and predict outcomes in a variety of clinical circumstances.

Global Artificial Intelligence in Medicine Market Dynamics:

Artificial intelligence is already assisting people in more effectively diagnosing diseases, developing medications, personalizing therapies, and even editing genes. Since the invention of high-speed digital computers, the application of artificial intelligence (AI) approaches to medical problems has been an aim of computing. AI is expected to help not only with diagnosis procedures in the future, but also with drug development, tailored treatment, and patient monitoring. A big number of cutting-edge technology companies are now working on AI algorithms for the healthcare industry. Furthermore, computer-assisted medical education is expected to grow in prominence in the coming years. Diverse patients have different reactions to medications and therapy regimens. As a result, tailored treatment has a huge potential to extend patients' lives. However, determining which characteristics should influence treatment selection is difficult. Machine learning can assist determine which variables indicate that a patient is likely to have a certain response to a given treatment by automating this complex statistical work. As a result, the algorithm can forecast a patient's likely response to a given treatment. Other factors projected to boost artificial intelligence in the medicine market include the growing relevance of precision medicine, an increase in the number of cross-industry partnerships, steady inflows of venture capital investments, and an increase in the geriatric population.

Data Sources Currently Available:

Mass screening, diagnostic imaging, laboratory data, clinical data, operation notes, electronic health records, and recordings from wearable devices are some of the key areas in which AI is being used in medicine. Relational and heterogeneous databases were the most often used data in medical transactions and research until recently. The number of data accessible for analysis is growing, and the approaches are likely to undergo paradigm adjustments as the internet of things continue to integrate and wearable technology becomes more common. ML methods such as classical support vector machines and neural networks were previously employed for structured data, while current deep learning and Natural Language Processing (NLP) were often used for unstructured data. Oncology, neurology, radiography, ophthalmology, and cardiology have all gained access to new instruments. AI technologies, like IBM Watson, had helped in early detection, diagnosis, therapy, prognosis evaluation, and outcome prediction. In April 2019, Cleveland Clinic and IBM's Watson Oncology (USA) computer system founded medications for cancer patients with equal or higher efficiency than human experts.

Global Artificial Intelligence in Medicine Market Segmentation:

Global Artificial Intelligence in Medicine Market To know about the Research Methodology :- Request Free Sample Report Based on the application, artificial intelligence in the medicine market is segmented into medical administration and support, patient management, research & development, and other applications. The patient management application is expected to grow significantly during the forecast timeline. Patient monitoring has evolved to include increasingly detailed information. Medical specialists and researchers now have access to a vast amount of unstructured and unprocessed data that was previously unavailable. Patient management is a set of activities used by healthcare organizations to manage and meet their patients' growing expectations. It's a method that emphasizes building great patient relationships over simply curing ailments. Patients can rest assured that their doctors view them as persons with thoughts and feelings as a result of this patient-centered revolution in healthcare. Patients expect to be treated more like customers than sick people, according to medical practitioners.

Patient management improves Efficiency:

Patient management improves patients' overall health and, as a result, their satisfaction with the medical organization. Medical practice management systems are becoming more popular as they improve the ability to meet important regulatory requirements and ensure that key regulatory data elements are completed by the physician simply by receiving a notification alert, as well as reducing the time and resources required for manual data entry. In the medicine IT sector, electronic data is quickly becoming a trending topic. The healthcare business has generated a large amount of data since its inception, owing to record-keeping, compliance and regulatory obligations, and patient care. Several experts and professionals have proposed that effectively integrating big data in healthcare might save everyone a significant amount of money each year. Traditionally, physicians spend the majority of their time filling out paperwork. Global Artificial Intelligence in Medicine Market 1

Global Artificial Intelligence in Medicine Market Regional Insights:

Global Artificial Intelligence in Medicine Market 2 North America is one of the world's largest and most advanced AI markets. The region's demand for AI in medicine is expected to be driven by factors such as the strong economy, high adoption of AI technologies in healthcare and pharma, a strong presence of prominent AI software and system suppliers, and combined investment by government and private organizations for the development and growth of research and development activities. Due to its developed infrastructure, which can house innovative medical solutions, the region is likely to dominate the global market throughout the term.

The following are some of the reasons that contribute to the market's growth:

• AI-enabled medical solutions' ability to cut workload • Patient safety has improved. • AI has the potential to save a huge amount of money. • The number of applications available is growing.

AI in Medicine Market in North America Region:

The market's growth is attributed to the increasing use of machine learning in the therapeutic sector, the high adoption rate of AI, and the improvement and development of research and development exercises that combine government and private sector assumptions. The US government is also funding AI research and development in the region's medicine industry. MMR’s study on Artificial Intelligence (AI) in the medicine market details the administrative structure, artificial intelligence development, key insights, Porter's five force analysis, vendor scorecard, key effect analysis, and industrial player positioning. The US government has made significant investments in a variety of projects, including a solution that analyzes a patient's DNA and recommends medications. The proximity of associations, which are heavily focused on the improvement and development of AI and innovations in the medical industry is fueling artificial intelligence in the medicine market in Canada. The objective of the report is to present a comprehensive analysis of the Global Artificial Intelligence in Medicine Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Artificial Intelligence in Medicine Market dynamics, structure by analyzing the market segments and project the global Artificial Intelligence in Medicine market size. Clear representation of competitive analysis of key players By Technology, price, financial position, product portfolio, growth strategies, and regional presence in the Global Artificial Intelligence in Medicine Market make the report investor’s guide.

Global Artificial Intelligence in Medicine Market Scope: Inquire before buying

Global Artificial Intelligence in Medicine Market 3

Global Artificial Intelligence in Medicine Market, by Region

• North America • Europe • Asia Pacific • Middle East & Africa • South America

Global Artificial Intelligence in Medicine Market Key Players

• Welltok, Inc. • Intel Corporation • Nvidia Corporation • Google Inc. • IBM Corporation • Microsoft Corporation • General Vision, Inc. • Enlitic, Inc. • BioXcel Corporation • Berg Health • InSilico Medicine, Inc. • Globavir Biosciences, Inc. • GNS Healthcare • Flatiron Health • Benevolent AI • Atomwise
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Artificial Intelligence in Medicine Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Artificial Intelligence in Medicine Market 3.4. Geographical Snapshot of the Artificial Intelligence in Medicine Market, By Manufacturer share 4. Global Artificial Intelligence in Medicine Market Overview, 2019-2026 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Artificial Intelligence in Medicine Market 5. Supply Side and Demand Side Indicators 6. Global Artificial Intelligence in Medicine Market Analysis and Forecast, 2019-2026 6.1. Global Artificial Intelligence in Medicine Market Size & Y-o-Y Growth Analysis. 7. Global Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 7.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 7.1.1. Deep Learning 7.1.2. Querying Method 7.1.3. Natural Language Processing 7.1.4. Context Aware Processing 7.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 7.2.1. Hardware 7.2.2. Software 7.2.3. Services 7.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 7.3.1. Medical Administration and Support 7.3.2. Patient Management 7.3.3. Research & Development 7.3.4. Other Applications 8. Global Artificial Intelligence in Medicine Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2019-2026 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 9.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 9.1.1. Deep Learning 9.1.2. Querying Method 9.1.3. Natural Language Processing 9.1.4. Context Aware Processing 9.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 9.2.1. Hardware 9.2.2. Software 9.2.3. Services 9.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 9.3.1. Medical Administration and Support 9.3.2. Patient Management 9.3.3. Research & Development 9.3.4. Other Applications 10. North America Artificial Intelligence in Medicine Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 11.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 11.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 11.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 12. Canada Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 12.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 12.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 12.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 13. Mexico Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 13.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 13.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 13.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 14. Europe Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 14.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 14.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 14.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 15. Europe Artificial Intelligence in Medicine Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 16.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 16.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 16.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 17. France Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 17.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 17.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 17.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 18. Germany Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 18.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 18.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 18.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 19. Italy Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 19.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 19.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 19.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 20. Spain Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 20.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 20.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 20.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 21. Sweden Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 21.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 21.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 21.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 22. CIS Countries Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 22.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 22.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 22.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 23. Rest of Europe Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 23.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 23.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 23.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 24. Asia Pacific Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 24.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 24.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 24.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 25. Asia Pacific Artificial Intelligence in Medicine Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 26.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 26.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 26.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 27. India Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 27.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 27.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 27.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 28. Japan Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 28.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 28.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 28.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 29. South Korea Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 29.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 29.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 29.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 30. Australia Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 30.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 30.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 30.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 31. ASEAN Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 31.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 31.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 31.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 32. Rest of Asia Pacific Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 32.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 32.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 32.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 33. Middle East Africa Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 33.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 33.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 33.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 34. Middle East Africa Artificial Intelligence in Medicine Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 35.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 35.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 35.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 36. GCC Countries Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 36.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 36.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 36.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 37. Egypt Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 37.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 37.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 37.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 38. Nigeria Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 38.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 38.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 38.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 39. Rest of ME&A Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 39.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 39.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 39.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 40. South America Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 40.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 40.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 40.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 41. South America Artificial Intelligence in Medicine Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 42.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 42.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 42.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 43. Argentina Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 43.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 43.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 43.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 44. Rest of South America Artificial Intelligence in Medicine Market Analysis and Forecasts, 2019-2026 44.1. Market Size (Value) Estimates & Forecast By Technology, 2019-2026 44.2. Market Size (Value) Estimates & Forecast By Component, 2019-2026 44.3. Market Size (Value) Estimates & Forecast By Application, 2019-2026 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Artificial Intelligence in Medicine Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Nvidia Corporation 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Welltok, Inc. 45.3.3. Intel Corporation 45.3.4. Google Inc. 45.3.5. IBM Corporation 45.3.6. Microsoft Corporation 45.3.7. General Vision, Inc. 45.3.8. Enlitic, Inc. 45.3.9. BioXcel Corporation 45.3.10. Berg Health 45.3.11. InSilico Medicine, Inc. 45.3.12. Globavir Biosciences, Inc. 45.3.13. GNS Healthcare 45.3.14. Flatiron Health 45.3.15. Benevolent AI 45.3.16. Atomwise 45.3.17. Other Key Players 46. Primary Key Insights

About This Report

Report ID112036
Category Information Technology & Telecommunication
Published DateJuly 2021
Updated Date
Contact Us