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Artificial Intelligence in Health-care Market Size, Share, Trends Analysis and Demand Forecast - Reports Monitor

Press Release   •   Jan 19, 2018 04:34 EST

AI in health signifies a collection of several technologies enabling machines to sense, act, learn and comprehend so they can perform clinical health-care and administrative functions. AI is primarily likely to be adopted as an assistance system, rather than replacement, for physicians. It will supplement physicians’ diagnoses, at the same time will also provide appreciated insights for the AI to improve and learn continuously. For improving health-care, AI in medicine is a great idea which can advance the health-care professional and patient communication. AI is poised to bend through major sectors or industry of the economy over the next decade, no industry should be more hospitable to the technology than that of healthcare. The US being the most technologically progressive nation in the globe and one with the most exclusive health-care industry, the country is expected to be the proving ground for AI-powered medicine.

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Factors such as fast and accurate diagnostics, reduce cost, virtual presence in the form of tele-medicine in remote areas and reduce human errors are some of the major reasons driving the Artificial Intelligence market growth. It would be essential to address concerns over the security, protection, and privacy of delicate health data. The intricacy of human biology and the necessity for further technological improvement also mean that some of the more innovative applications will take time to reach their potential customers and gain acceptance from regulators, health-care providers and patients.The balanced patient to health-care professional ratio on account of the AI united with its rising incorporation with existing systems is expected to present the Artificial Intelligence market with several great opportunities.

In the US, the FDA has regulatory authority over medical devices and AI technologies. FDA has issued a number of assistance documents to support in identifying when mobiles apps and software are considered to be medical devices. Further important deliberations, given the ability of AI to capture different forms of personal data, are cyber-security and data protection, which are expected to become very important to safeguard the sustainability of the AI system and technology. In the EU, these guidelines are soon to be renovated by General Data Protection Regulation (GDPR). APAC has been the fastest developing region in terms of innovations and growth owing to the presence of the chief companies such as Microsoft, IBM, Google, Apple,GE Health-care, and Siemens among others. China is the fastest growing country in the artificial intelligence in the health-care market and is expected to overtake the US in term of AI technology in coming future.

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Artificial Intelligence in Healthcare Market Segmentation

By Technology

lDeep Learning

lQuerying Method

lNatural Language Processing (NLP)

lContext Aware Processing

By Application

lDrug Discovery

lMedical Imaging and Diagnosis

lVirtual Assistant

lIn Patient Care and Hospital Management

lOthers

By Geography

lNorth America

nUS

nCanada

nRest Of North America

lEurope

nUK

nGermany

nFrance

nItaly

nSpain

nRest of Europe

lAsia-Pacific

nJapan

nChina

nIndia

nAustralia

nSouth Korea

nRest of Asia-Pacific

lLAMEA

nBrazil

nSaudi Arabia

nUAE

nRest of LAMEA

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