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, 2018-2025Read 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 STAKEHOLDERSThis 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 SEGMENTSBy Product TypeHardwareSoftwareServiceBy TechnologyDeep LearningQuerying MethodNatural Language ProcessingContext Aware ProcessingBy ApplicationDrug Discovery & Repurposing (Preclinical Phase)Clinical Research TrialPersonalized MedicineOthersBy RegionNorth AmericaU.S.CanadaMexicoEuropeGermanyFranceUnited KingdomItalySpainRest of EuropeAsia-PacificJapanChinaAustraliaIndiaSouth KoreaTaiwanRest of Asia-PacificLAMEABrazilSaudi ArabiaSouth AfricaRest of LAMEAKEY PLAYERS PROFILEDWelltok, Inc.Intel CorporationNvidia CorporationGoogle Inc.IBM CorporationMicrosoft CorporationGeneral Vision, Inc.Enlitic, Inc.BioXcel CorporationBerg 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 HealthcareFlatiron HealthBenevolent AIAtomwiseVerge GenomicsCloud PharmaceuticalsRecursion PharmaceuticalsRead the full report: https://www.reportlinker.com/p05563984
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