Across the world, the healthcare industry in under the tremendous pressure to meet the need of patients. Artificial intelligence has witnessed the tremendous growth in healthcare sector and completely transformed the traditional methods and technologies. Increased use of Artificial Intelligence (AI) market bring major social and economic benefits to the society. With AI, computers can analyse and learn from information at higher accuracy and speed than humans can. AI offers massive gains in efficiency and performance to most or all industry sectors, from drug discovery to logistics. AI is software that can be integrated into existing processes, improving them, scaling them, and reducing their costs, by making or suggesting more accurate decisions through better use of information. The combination of data and AI has the potential to improve outcomes and reduce costs within healthcare by applying machine learning algorithms and predictive analytics to reduce drug discovery times, providing virtual assistance to patients, and diagnosing ailments by processing medical images.
Increasing aging population, changing patient’s attitude and behaviour, evolution of medicine, adoption of AI in research areas, reduced workload and increased quality of care, growing demand for precision medicine, growing number of cross-industry partnerships, aging population, healthcare, the growing usage of smart devices, are the factors boosting the growth of global artificial intelligence in healthcare. High capital investment and federal regulations are the factors hindering the growth of global artificial intelligence in healthcare
Information technology development in healthcare has been rapidly moving from products to services to solutions. The present decade is one of medical platforms focused on real-time, outcome-based care. The next decade is moving towards medical solutions – using AI, robotics, and virtual and augmented reality – to deliver intelligent solutions for both evidence and outcome based health, but focusing on collaborative, preventative care. Healthcare entrepreneurs are focused on the win-win-win prospect of lowering the cost of care while making it better and available to more people.
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The global artificial intelligence in healthcare is segmented on the basis of solution, application, technology and region. On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global AI in healthcare market owing to increasing aging population demanding for minimal invasive procedure by using artificial intelligence technology in healthcare. Asia Pacific region is witnessed the highest CAGR due to change in patient’s attitude and behaviours and increase in healthcare expenditure.
Key players in global artificial intelligence in healthcare are, IBM Corporation, Intel Corporation, Google, Inc., Microsoft Corporation, BabyLabs, Inc., Siemens Healthineers GmbH, Johnson & Johnson, Stryker Corporation, Koninklijke Philips N.V., and Oncora Medical, Inc.