July 21, 2020
As per the report titled ‘Global Artificial Intelligence (AI) in Precision Medicine Market Analysis, 2020’, available with Market Study Report LLC, global artificial intelligence (AI) in precision medicine market is projected to record an exceptionally high CAGR of nearly 50% through 2025.
Machine learning (ML), deep learning and artificial intelligence (AI) are expanding rapidly as they are finding constant application in healthcare institutions for extracting huge amount of patient data using genomics sequences. AI also aids companies to enhance drug development process and minimize costs. In addition, increasing R&D activities owing to inflowing government investments in AI companies, coupled with upsurge in number of players are contributing to the growth of global artificial intelligence (AI) in precision medicine market, cites the report
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Based on technology, global artificial intelligence (AI) in precision medicine market is divided into deep learning, natural language processing, querying method, and context aware processing. Among these, natural language processing segment held notable market share in the year 2019 due to extensive use of technology in drug discovery and clinical trials identification.
Based on type, the market is split into software, hardware, and service. Software segment recorded significant gains in the year 2019 owing to constant innovation in software, along with its increasing requirement in medicine, claims the report.
Elaborating on end-user spectrum, the market is divided into respiratory, neurosciences, immunology, oncology, and others. Whereas, the application gamut of the market is comprised of drug discovery, clinical research trial, personalized medicine, and others.
The well-established companies operating in global artificial intelligence (AI) in precision medicine market are BioXcel Corporation, Berg Health, Alphabet Inc., IBM Corporation, General Vision, Inc., Intel Corporation, Microsoft Corporation, General Vision, Inc., Enlitic Inc., and Nvidia Corporation.