Title: Healthcare Artificial Intelligence Market to grow at 40% CAGR from 2017 to 2024
1Healthcare Artificial Intelligence Market share
to hit 10bn by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2 Key Insights from Healthcare Artificial
Intelligence Market
- Healthcare Artificial Intelligence Market size is
forecast to exceed USD 10 billion by 2024. - AI has revolutionized the healthcare industry by
designing treatment plans, medication management,
assisting in repetitive tasks, and drug
discovery. - Rising adoption of precision medicine has made
enabled simplicity of management and cost
reduction. Increasing application in genomics
research coupled with incremental innovation in
robotic personal digital assistants should boost
industry growth. - Medical imaging diagnosis will witness more
than 40 growth with expectations to surpass USD
2.5 billion by 2024. - It has gained acceptance owing to its capability
to detect cancer at early stage, track tumor
development and improve the patients life
expectancy. Increasing application of artificial
intelligence in diagnostics and imaging industry
will further growth.
3Continued...
- Increasing big data volume and the
ever-increasing need to effectively store and
manage the healthcare data will drive healthcare
artificial intelligence market growth. - Huge initial investment, complex ROI structure
and significant maintenance repair costs should
hamper industry growth. Rising concerns that
healthcare AI adoption could lead to unemployment
on a large scale can impede expansion over the
forecast timeframe. - Drug discovery applications account for over 35
of healthcare artificial intelligence market
share, which could see the segment exceed USD 4
billion in revenue by 2024. - Machine learning and artificial intelligence will
drive RD and can improve success rate at the
early drug development stages. Companies are
using machine learning algorithms to reduce
development time and build a strong and
sustainable drugs pipeline. - U.S. healthcare artificial intelligence market
was valued over USD 320 million in 2016 and is
estimated to witness more than 38 CAGR over the
coming years.
4Continued...
- Favorable government initiatives for promoting
big data analytics adoption along with other
innovative healthcare technologies will propel
business growth. - Europe healthcare artificial intelligence market
size was valued over USD 270 million in 2016,
with expectations to witness more than 39 growth
over the forecast years. - Japan held over 35 of regional industry share
with expectations to witness more than 40
growth. Presence of large number of technology
based companies and universities developing
healthcare artificial intelligence solutions
should fuel industry growth. - Brazil holds more than 48 of regional revenue,
witnessing over 40 CAGR from 2017 to 2024.
Growing awareness and favorable government
initiatives should accelerate the penetration
rate of healthcare artificial intelligence
technology. - Some of the companies operating in healthcare
artificial intelligence market space include
AiCure, Cyrcadia Health, Google, IBM, and
Microsoft.
5U.S. Healthcare Artificial Intelligence Market
Size, By Application, 2013-2024 (USD Million)
6 Browse Full Market Research Report On
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