Increase in processing power of AI systems leading to enhanced AI capabilities

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The global artificial intelligence in medicines market was valued at $719 million in 2017 and is estimated to reach $18,119 million at a CAGR of 49.6% from 2018 to 2025. Artificial intelligence (AI) in medicine is used to analyze complex medical data by approximating human cognition with the help of algorithms and software. 


The development of novel pharmaceuticals and biologicals through clinical trials can take more than a decade and cost billions of dollars during that tenure period. AI technology can help to make this process faster and cheaper, which in turn is expected to help improve the efficiency of pharmaceutical and biotechnology companies.

 Product Type Segment Review

Based on the product type, the market is segmented into hardware, software, and service. The software segment occupied the highest share in 2017, owing to continuous software innovation that caters to the requirement in the healthcare sector. The hardware segment is projected to witness the highest growth rate during the forecast period.

Technology Segment Review

Based on technology, it is classified into deep learning, querying method, natural language processing, and context-aware processing. The natural language processing segment accounted for the highest share in 2017 as this technology infrequently used during various applications such as drug discovery and clinical trial identification.

Key Geographical Segment

As per region, the artificial intelligence in medicine market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2017 and is expected to retain its dominance throughout the forecast period owing to the availability of capital investments and an increase in adoption of AI technology.

The key players operating in the global artificial intelligence in medicine market include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., BioXcel Corporation, and Berg Health
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Other prominent players in the value chain include InSilico Medicine, Inc., Globavir Biosciences, Inc., GNS Healthcare, Flatiron Health, Benevolent AI, Atomwise, Verge Genomics, Cloud Pharmaceuticals, and Recursion Pharmaceuticals.

Key Benefits for Stakeholders

This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities.
Market estimations are based on a comprehensive analysis of the key developments in the industry.
The global market is comprehensively analyzed with respect to product type, technology, application, and region.

In-depth analysis based on region assists to understand the regional market to assist in strategic business planning.
The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.

Artificial Intelligence in Medicine Market Key Segments:

By Product Type

Hardware
Software
Service

By Technology

Deep Learning
Querying Method
Natural Language Processing
Context-Aware Processing

By Application

Drug Discovery & Repurposing (Preclinical Phase)
Clinical Research Trial
Personalized Medicine
Others

For more inquiry contact our sales team at contact@aarkstore.com

Related Reports:

Global Artificial Intelligence Machine Market Research Report 2018

Global Artificial Intelligence Machine Market Research Report 2018

Global Artificial Intelligence Chip Market Research Report 2018

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