The rising demand for time-efficient artificial intelligence systems for resolving complex medical conditions is driving the “global artificial intelligence in healthcare market” says Fortune business Insights in a report, titled “Artificial Intelligence in Healthcare Market Size, Share And Global Trend By Platform (Hardware, Software, Services), By Application (Robot-Assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Clinical Trial Participant Identifier, Preliminary Diagnosis), By End User (Hospitals, Clinics, Industries, Healthcare Provider, Pharmaceutical & Biotechnology Company), And Geography Forecast Till 2026”.Growing prevalence of chronic diseases is shifting the focus to artificial intelligence in healthcare
Artificial Intelligence to Offer Extended Opportunities for Healthcare Treatment
Artificial intelligence is also generally known as machine intelligence. Artificial intelligence in healthcare focuses on providing solution for resolving complex conditions with the assistance of smart algorithms along with the analysis of present medical data. In the part of healthcare, artificial intelligence offers proficiency in robotic surgeries, effective patient-physician communication, record storing and retrieval clinical trial participant identifier and others. Extensive research and development in artificial intelligence is providing abundant opportunities in healthcare activities. For instance, in 218, General Electric launched a newly designed AI platform, known as Edison platform, which holds the capability to manage the data generated by medical imaging as well as it will help hospitals to develop their own customized algorithms. The rising demand for effective smart intelligence systems with the focus on resolving complex conditions is predicted to drive the global artificial intelligence in the healthcare market. In addition, rising population of patients and speedily increasing prevalence of chronic diseases is anticipated to impel the adoption for artificial intelligence in healthcare, which in turn will boost the growth of the artificial intelligence in the healthcare market in the forthcoming year.
An Overview of the Impact of COVID-19 on this Market:
The WHO The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Cleveland Clinic Unveils Center for Clinical Artificial Intelligence
Cleveland Clinic launched a center to improvise the use of artificial intelligence (AI) for healthcare. The center is aiming towards developing clinical applications of artificial intelligence and leveraging machine-learning technology with a focus on improving healthcare services in areas such as diagnostics, disease prediction and prevention along with treatment. The increasing establishment of artificial intelligence oriented centers is predicted to boost the market. Numerous software companies are collaborating with healthcare institutions to introduce artificial intelligence integrated treatments. For instance, the association between Apollo Hospitals and Microsoft Corporation to launch an artificial intelligence model to predict heart attacks. The newly developed application is built on Microsoft Corporation’s cloud platform which will predict the risk of heart attack and will provide rich insights to respective physicians. The new model is likely to witness high demand among heart patients and enable the growth in the artificial intelligence in health care market.
Fortune Business Insights™ profiles a few of the most prominent organizations operating in the Artificial Intelligence in Healthcare Market. They are as follows:
- Intel Corporation
- IBM Corporation
- Google, Inc.
- GENERAL ELECTRIC
- NVIDIA Corporation
- Koninklijke Philips N.V.
- Next IT Corp.
- Welltok, Inc.
- General Vision, Inc.
- Recursion Pharmaceuticals
- Enlitic, Inc.
- Stryker Corporation
- Deep Genomics, Inc.
- Oncora Medical, Inc
North America Leads the Global Market
Geographically, the global artificial intelligence in the healthcare market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is leading the global market followed by Europe and are expected to grow at a significant rate during the forecast period. Factors such as rising acceptance and growing integration of artificial intelligence and healthcare to resolve complex medical conditions is predicted to fuel demand for advanced systems among hospitals hence, propelling growth of the artificial intelligence in healthcare market in the region.