Global Healthcare Artificial Intelligent Market 2020 Share, Trend, Segmentation and Forecast to 2026
Research Reports
Jan 07, 2021
Healthcare Artificial Intelligent Market 2020-2026
New Study Reports “Healthcare Artificial Intelligent Market 2020 Global Market Opportunities, Challenges, Strategies and Forecasts 2026” has been Added on WiseGuyReports.
Introduction/Report Summary:
This report provides in depth study of “Healthcare Artificial Intelligent Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Healthcare Artificial Intelligent Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Global AI in Healthcare Market Overview
Artificial Intelligence is the development of computer systems that are able to perform tasks that would require human intelligence with much higher precisions and error control than that done by humans. AI facilitates in creation of intelligent agents where an intelligent agent is a system that recognizes its environment of operation and takes actions which maximizes its likelihood of success. The importance of AI in healthcare was realised in early 1980s when the absence of proper data management and requirement of extreme precision along with importance of minimal invasive methods was recognised. Artificial intelligence is a branch of computer science and information technology that is capable of analysing complex medical data. Today, in the age of breakthrough of technology and automation, the research and implementation of AI in healthcare is at its best. Healthcare sector is one of the most important sectors that is a priority for the human race. Owing to its amalgamation with the IT industry, the growth and development of healthcare industry has increased and reached the next level.
Recent Developments under Computing Power in Healthcare
The outburst of technology that is digitally enabled, wireless connectivity across increasingly mobile devices has created an increasing democratisation of access for healthcare. Some of the most powerful AI tools are already embedded in Android or iOS. This technology is providing consumers with the data and information they need to proactively manage their own health and wellness, and to make better, more informed decisions in partnership with their healthcare providers. AI can prove to be a boom in the field of diagnosis. The high cost involved in diagnostic processes, over-testing of low-risk patients, and limited capability for early detection of chronic diseases are driving the adoption of AI in diagnostics. This is because AI is capable of bridging the gap between doctor-centric diagnosis and AI-based diagnosis through pattern recognition and machine learning technologies.
Coming to drug development, it requires lots of time, investment and resources. Owing to this, the pharma companies are keen to embrace digital transformation and AI. According to Deloitte, in 2017, 12 largest biopharma companies received just 3.2% returns from their drug-research units, as against 10% in 2010. The use of AI in drug discovery is expected to expedite the overall process. Applied intelligence can improve drug discovery success rates by 8-10%, resulting in savings worth billions of dollars for the industry. Finding drug discovery compounds and precision medicine are the major trending applications over other pharma based AI applications.
“Machine learning technology of AI dominated the market globally in 2018 and is expected to maintain its lead in 2025”
Drivers and Constraints
The fundamental dynamics that are explored in the report hold substantial influence over the Healthcare Artificial Intelligentmarket. The report further studies on the value, volume trends, and the pricing history of the market. In addition to it, various growth factors, restraints, and opportunities are also analyzed for the market to study the in-depth understanding of the market.
This report also analyzes the impact of Coronavirus COVID-19 on the Healthcare Artificial Intelligent industry.
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Key Players
The report has profiled some of the Important players prevalent in the global like – Medtronic Plc, Abbott Laboratories, Johnson and Johnson, Bcton Dickinson, Boston Scientific Corporation, Koninklijke Philips N.V, Roche Holding AG, Siemens Healthineers AG, Stryker Corporation and Oracle Corporation and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Healthcare Artificial Intelligent.
Market Segmentation based On Type, Application and Region:
The global Healthcare Artificial Intelligent is analyzed for different segments to arrive at an insightful analysis. Such segmentation has been done based on type, application, and region.
Key Developments Key Insights
IBM Watson for Oncology • IBM have developed Watson technologies for healthcare. It is a unified platform meant to assist doctors and healthcare professionals in various aspects of treatment. IBM Watson for Oncology is specifically designed for helping oncologists involved in cancer treatment
• Watson for Oncology derives data from various sources including MSK curated literature and rationales, as well as over 290 medical journals, over 200 textbooks, and 12 million pages of text
IBM and Manipal Hospitals (India) • In India, IBM has partnered with Manipal Hospitals to provide diagnosis and treatment to cancer patients. Watson for Oncology is used across 16 facilities and academic centers of the hospital where more than 200,00 patients are treated each year
American Cancer Society and IBM • The American Cancer Society is utilizing IBM Watson to mine data from websites and relevant sources to offer personalized treatments for oncology patients. According to IBM, over 16 oncology practices are depending on Watson to enable doctors in translating DNA insights into personalized treatment for patients
Dartmouth-Hitchcock and Microsoft • Dartmouth-Hitchcock, a US-based health system based in New Hampshire has adopted Microsoft’s Cortana Intelligence Suite to predict medical emergencies for patients. Branded as ImagineCare, this solution is available to more than 6000 patients of Dartmouth
Microsoft India and L V Prasad Eye Institute • Microsoft India has partnered with L V Prasad Eye Institute to launch a consortium named Microsoft Intelligent Network for Eyecare (MINE). The partner organizations of this consortium would include Bascom Palmer (University of Miami), Flaum Eye Institute (University of Rochester (USA)), Federal University of Sao Paulo (Brazil) and Brien Holden Vision Institute (Australia). These organizations will collaborate on the diverse patient dataset to evolve machine learning predictive models for vision impairment and eye disease
Pfizer and IBM • Pfizer is using IBM’s Watson machine-learning platform to help find new immuno-oncology targets and drugs
Sanofi and Exscientia • Sanofi is using a rival system from UK firm Exscientia in a metabolic disease program
Key Stakeholders
Healthcare Artificial Intelligent Market Manufacturers
Healthcare Artificial Intelligent Market Distributors/Traders/Wholesalers
Healthcare Artificial Intelligent Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Key Points from Table of Content:
- MARKET INTRODUCTION
2. RESEARCH METHODOLOGY OR ASSUMPTION 14
3. REGULATORY FRAMEWORK AND KEY DEVELOPMENT 16
4. INDUSTRY PERFORMANCE 22
5. EXECUTIVE SUMMARY 23
6. MARKET OVERVIEW 25
6.1 Introduction 25
6.2 Market Dynamics 25
6.2.1 Market Drivers 26
6.2.1.1 Increasingly Large and Complex Data Set 26
6.2.1.2 Growing Demand to Reduce Healthcare Costs 27
6.2.1.3 Improving Computing Power in Healthcare 28
6.2.1.4 Rising Need for Improvised Healthcare Services 30
6.2.1.5 Application of AI for novel surgeries and screening 31
6.2.2 Market Restraints 32
6.2.2.1 Limitations of AI decision-making 32
6.2.2.2 Reluctance Among Medical Practitioners to Adopt AI-Based Technologies 32
6.2.2.3 Lack of Skilled AI Workforce and Ambiguous Regulation for Medical Software 33
6.2.3 Trends in AI in Healthcare 33
6.2.3.1 Democratisation of access 33
6.2.3.2 Migration from Doctor-Centric Diagnostics to Data-Driven Diagnostics 33
6.2.3.3 Transformation of Drug Discovery in Pharma Industry 34
6.2.3.4 Data Explosion 34
6.2.4 Opportunity 34
6.2.4.1 Growing Potential of AI-Based Tools 34
6.2.4.2 Increasing Focus on Developing Human-Aware AI Systems 35
6.2.4.3 Surging Spending Power on R&D 35
6.2.4.4 Untapped market in developing regions 37
…..
- TOP COMPANY PROFILES 83
13.1 Medtronic Plc 83
13.1.1 Key Facts 83
13.1.2 Business Description 83
13.1.3 Key Product/Services Offerings 84
13.1.4 SWOT Analysis 85
13.1.5 Key Financials 86
13.1.5.1 Revenue Split 87
13.1.6 Recent Developments 87
13.1.7 Funding 88
13.2 Abbott Laboratories 89
13.2.1 Key Facts 89
13.2.2 Business Description 89
13.2.3 Key Product/Services Offerings 90
13.2.4 SWOT Analysis 90
13.2.5 Key Financials 91
13.2.5.1 Revenue Split 92
13.2.6 Recent Developments 92
13.3 Johnson & Johnson 93
13.3.1 Key Facts 93
13.3.2 Business Description 93
13.3.3 Key Product/Services Offerings 94
13.3.4 SWOT Analysis 94
13.3.5 Key Financials 95
13.3.5.1 Revenue Split 96
13.3.6 Recent Developments 97
13.4 Becton Dickinson 98
13.4.1 Key Facts 98
13.4.2 Business Description 98
13.4.3 Key Product/Services Offerings (AI Technology) 99
13.4.4 SWOT Analysis 100
13.4.5 Key Financials 101
13.4.5.1 Revenue Split 102
13.4.6 Recent Developments 102
And more
Continued…
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