“Global Healthcare Artificial Intelligence Market Professional Survey Report 2017” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977.
Healthcare Artificial Intelligence Market size was over USD 750 million in 2016 and forecast to witness nearly 40% CAGR from 2017 to 2024.
Artificial Intelligence has extensive applications in the field of drug discovery and the medical imaging industry. It performs tasks that require human-like qualities of judgment and perception for its application in healthcare systems. Introduction of innovative technology for detection of disease such as CT scans, MRI scans and picture archiving and communications (PAC) have enabled doctors to achieve 60-70% more accurate results instantly.
Innovation in clinical research and robotic personal assistants should drive healthcare artificial intelligence market growth. Growing application in the field of genomics and precision medicine will boost personalized treatments customized to an individual patient’s need. Big data analytics applications in healthcare are growing at a tremendous speed. Increasing volume of healthcare data have resulted in a growing need for artificial intelligence technology to perform data mining and accelerate the speed of healthcare delivery services. Emergence of novel and promising applications for disease diagnosis and monitoring is anticipated to drive artificial intelligence market growth.
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High initial capital requirement due to complex nature of machines, huge maintenance and repair charges will discourage companies to venture into the healthcare artificial intelligence market. Besides, apprehensions regarding adoption of artificial intelligence technology would lead to large scale unemployment should act as a deterrent for industry expansion.
Healthcare Artificial Intelligence Market, By Application
Drug discovery held over 35% of the global artificial intelligence market share and is anticipated to witness more than 40% CAGR over the forecast years. The industry share is attributed to capability of artificial intelligence technology to recognize drug targets, and play an important role in drug design, discovery, identification and screening of molecules instantly and effectively.
Medical imaging and diagnosis should witness more than 40% growth to surpass USD 2.5 billion by 2024. Rising application of artificial intelligence in medical imaging has improved cancer tumor diagnosis at a very early stage compared to radiology. It utilizes deep learning techniques providing extraordinary performance for pattern recognition leading its way to become a game changer in the imaging and diagnosis industry.
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