According to a research report titled ‘Global Artificial Intelligence (AI) In Healthcare Market 2019-2027’ available with Market Study Report, global artificial intelligence (AI) in healthcare market is projected to experience a hefty growth rate of 40.48% during the forecast period 2019-2027.
 

Research findings state that factors such as increasing utilization of big data, and rising penetration of precision medicine are driving the growth of worldwide artificial intelligence (AI) in healthcare market.
 

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Broadening applications of AI in genomics, as well as the growing necessity of real time monitoring systems are also adding substantial traction to market development. Moreover, rapid development in the field of robotics, positive outlook of healthcare wearable’s industry, as well as integration of software with AI are anticipated to add significant momentum to the industry.
 

Elaborating on the setbacks pervading the market space, lack of standardization of healthcare data and security & privacy concerns will challenging business progression during the forecast period.
 

Based on offerings, global artificial intelligence (AI) in healthcare market is split into software, hardware and services. By technology type, the market space is comprised of deep learning, context aware processing, natural language processing and querying method. The end-user spectrum of the industry is defined by patients, ACOS & MCOS, and payers.
 

Moving on, the application scope segment constitutes drug development and discovery, real-time monitoring, precision medicine, diagnostic and clinical decision support, robot-assisted surgery, administrative workflow assistance, clinical trials, personal health and nursing assistants.

On the regional front, global artificial intelligence (AI) in healthcare market size spans across Europe, North America, Asia-Pacific, Latin America, and Middle East & Africa. North America accounts for majority market share due to factors such as increasing adoption of AI technology, rising government investments, as well as continuous research and development activities.

Key contenders in global artificial intelligence (AI) in healthcare market sphere are GE Healthcare, Deep Genomics, Inc., General Vision, Inc., Intel Corporation, Enlitic, Inc., iCarbonX, Google LLC., International Business Machines Corporation (IBM), Welltok, Inc., Nvidia Corporation, Microsoft Corporation, Stryker Corporation, Recursion Pharmaceuticals, Inc., Next IT Corporation, and Oncora Medical, Inc.