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Artificial Intelligence in Medicine Market Share, Size Global Strategy ,Statistics, Industry Trends, Competition Strategies, Revenue Analysis, Key Players, Regional Analysis by Forecast to 2023
Posted on May 5 2021 9:00 AM
"Global Artificial Intelligence in Medicine Market Research Report provide the details of Development factors and plans discussed as well as manufacturing processes and cost structures are also analysed. This report also states import/export consumption, supply and demand, price, revenue and gross margins with Forecast Period 2021-2023.
Global Artificial Intelligence in Medicine Market Research Report study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds impact on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.Artificial Intelligence in Medicine Market Research Report is highly research-intensive, powered by high R & D investment, and it possesses a strong product analysis to maintain growth and ensure long-term revenue generation.
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Artificial Intelligence in Medicine Market report offers a comprehensive view regarding the competitive landscape of the Artificial Intelligence in Medicine market and includes a deep description of performance by some of the key global players completing in the market. It offers a list of latest updates of several business strategies including mergers, acquisitions, partnerships, product launch, expansion of production units, and collaborations adopted by these major global players. The report provides a clear picture regarding R & D investment from key players and adoption of innovative technologies to widen their consumer base and expand the existing competitive position. Moreover, the report offers a detailed information about the position, scope of growth, and opportunities of new entrants or players in the market.
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The global artificial intelligence in medicine market was valued at USD 1.603 billion in 2017 and is projected to reach a value of USD 12.150 billion by 2023, at a CAGR of 40.15% over the forecast period, 2018-2023. The advent of artificial intelligence has revolutionized many domains across the globe; the healthcare industry has also been a recipient of the advantages offered by the technology. AI in healthcare has been revolutionary, owing to the increase in the number of applications of AI in the industry. AI aids in patient care, providing a much more enhanced and effective experience for the concerned patient. Healthcare and medical budgets have been focused on increasing the technology penetration within the domain, owing to which there has been an increasing implementation of AI technologies.
Ability of AI to Improve Medicine and Healthcare Facilities
Artificial intelligence has revolutionized patient care and enabled the emergence of better healthcare facilities. Managing medical records and other data pertaining to the patients is being delegated to AI systems, which leads to efficient use of resources and reduction of monotony in the jobs. These systems also help in faster and more consistent access to data. The inspection of images and diagnostics for various tests, such as CT scans, MRI, etc., could also be delegated to AI systems. It has been identified that error rates for image labelling have decreased from 28.5% to 2.5%, which emphasizes the need for AI systems in medicine. These applications can reduce redundancy and enable physicians and researchers focus on more demanding and necessary applications.
Patient Care and Management is Expected to Have the Highest Share Owing to Growing Awareness among the Applications
Effective management of patients is one of the prime needs for hospital facilities. Several studies have demonstrated the importance of patient engagement in improving health outcomes. Lacking such engagement has been a major contributor to preventing deaths. Healthcare applications are being used to deliver various medication alerts and other patient education materials. Smart wearables play a vital role in the transformation of the current healthcare industry. These wearables are available in the market in various forms, such as wristbands, watches, shoes, eyeglasses, belts, etc. The awareness among consumers is also increasing regarding wearables. About 56% of the consumers believe that wearing a smart device, which monitors vitals, leads to increase in the average life expectancy.
North America is Leading the Way as One of the Highest Market Shares for AI Medicine
The North American region has a well-developed healthcare and medicine system, which integrates the use of the latest technology. According to the Journal of Patient Safety, preventable medical mistakes account to about 210,000 lives per year. Diagnostic errors account to about 440,000 deaths per year. Medical errors cost the industry around USD 1 trillion annually. Thus, the need for efficient management and support in the country is high. Increasing amount of data and complexity of operations in the domain are challenging the resource management. Canada has also been rated as one of the best 10 healthcare systems, globally, which further emphasizes the need for better healthcare systems that drive the growth of Artificial Intelligence in this region.
Key Market Players: Atomwise Inc., Ibm Watson Health, Zebra Medical Vision, Cyrcadia Health Inc., Aicure Llc, Modernizing Medicine, Sense.Ly Inc., Berg Health, Mendasense Biometrics Ltd., Hindsait, Esko Bionics.
Key Developments in the Market
January 2018: Inspirata, a cancer informatics and digital pathology workflow solutions acquired Artificial Intelligence in Medicine, Inc. with an aim of upgrading the analyzing techniques of the company.
January 2018: Personalized medicine for idiopathic pulmonary fibrosis has been provided by NuMedii by new AI-powered drug delivery systems.
May 2017: General Electric has collaborated with Harvard Hospitals to develop AI products to cater to different dire needs in the healthcare industry. The dominant position of Harvard in the market is acting as a leverage for the company to introduce its products.
Reasons to Purchase this Report
Examine the effects of the adoption of AI in the medicine market
Analyze various perspectives of the market with the help of Porterâ€™s five forces analysis
Detailed analysis of the product type and application that are expected to dominate the market
The regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet in excel.
Customization of the Report
This report can be customized to meet your requirements.
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Artificial Intelligence in Medicine Market for 2021-2023. To calculate the market size, the report considers new installations or sales and subscription payments of Artificial Intelligence in Medicine.
Regional Market Analysis:
The Artificial Intelligence in Medicine Market report includes Global & Regional market status and outlook 2021-2023. Further, the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Global Artificial Intelligence in Medicine Market 2021-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
- Growing research activities coupled with new product launches.
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- High Opportunity in the Industry
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- Complications associated with Artificial Intelligence in Medicine procedures.
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Key Attentions of Artificial Intelligence in Medicine Market Report:
- The report offers a comprehensive and broad perspective on the global Artificial Intelligence in Medicine market.
- The market statistics represented in different Artificial Intelligence in Medicine segments offers complete industry picture.
- Market growth drivers, challenges affecting the development of Artificial Intelligence in Medicine are analyzed in detail.
- The report will help in the analysis of major competitive market scenario, market dynamics of Artificial Intelligence in Medicine.
- Major stakeholders, top companies Artificial Intelligence in Medicine, investment feasibility and new market entrants study is offered.
- Development scope of Artificial Intelligence in Medicine in each market segment is covered in this report. The macro and micro-economic factors affecting the Artificial Intelligence in Medicine market
- Advancement is elaborated in this report. The upstream and downstream components of Artificial Intelligence in Medicine and a comprehensive value chain are explained.
Some Major Points from Toc :-
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness Porter's Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.4 Democratic Republic of Congo
6.2 Consumption Analysis (Market Size, Growth and Forecast)
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
6.2.2 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
6.2.4 South America
188.8.131.52 Rest of South America
6.2.5 Middle East & Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
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