Healthcare Artificial Intelligence Market trends research and projections for 2016-2023

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Healthcare Artificial Intelligence Market size to
exceed 10bn by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Healthcare Artificial
Intelligence Market

• Healthcare Artificial Intelligence Market size is
  forecast to exceed USD 10 billion by 2024
  according to a new research report by Global
  Market Insights, Inc.
• 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.

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Continued...

• Increasing big data volume and the
  ever-increasing need to effectively store and
  manage the healthcare data will drive healthcare
  artificial intelligence market growth. Advent of
  innovative technologies for effective diagnosis
  treatment should further accelerate business
  penetration.
• 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.

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U.S. Healthcare Artificial Intelligence Market
Size, By Application, 2013-2024 (USD Million)

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360 Analysis

• Application Trends
• 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.
• Regional Trends
• U.S. healthcare artificial intelligence market
  size is set to exceed USD 325 million in 2016,
  witnessing over 35 CAGR over coming years.
  Adoption of novel healthcare technologies such as
  big data analytics and favourable government
  initiatives will drive industry growth. Federal
  authorities are encouraging the use of data
  analytics through various initiatives and
  policies to reduce cost and improve quality of
  healthcare services.
• Competitive Market Share
• The healthcare artificial intelligence market is
  highly fragmented characterized by presence of
  large number of industry players. Industry
  witnesses a number of start-ups for the past 3-4
  years. Few innovative companies have set their
  footprint as pioneers in artificial intelligence
  industry.

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