Market Research Reports

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 major factors that drive the growth of the AI in medicine market include dearth of skilled healthcare professionals and increase in the processing power of AI systems that is estimated to help improve the efficiency of drug discovery and management of clinical trials. Product Type Segment Review 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. Technology Segment Review It is classified into deep learning, querying method, natural language processing, and context aware processing. ...

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...