The global AI in healthcare market is expected to observe an extensive growth in the coming years, led by growing need for precision medicine, increasing application of big data in healthcare industry, and rising need for coordination between healthcare workforce and patients. The products in the global market are categorized as hardware, software and services, with software being the largest contributor in 2016 and the category is also projected to witness significant growth during the forecast period.
Deep learning, natural language processing (NLP), querying method and context aware processing are some of the technologies used for AI in healthcare. The demand for NLP in healthcare has been growing mainly due to rise in unstructured clinical data. Since NLP technology extracts important clinical information from unstructured data and analyze it for enhancing processing and analytics.
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AI solutions for elderly care and growing emerging economies provide immense opportunities for players in the AI in healthcare market. AI solution for senior care help them to stay in their home longer, with the use of smart sensors their movement can be tracked, and vital signs can be monitored by nurse or a family member. Also, if any change in health conditions is observed the smart sensors alert the concerned members. Such technological solutions have high potential in the market due to growing aging populations which in turn spurs the demand of advanced solutions.
Increase in funding for AI in healthcare is the key trend observed in the global market. For instance, iCarbonX, Welltok, Butterfly network, Apixio, and Pathway Genomics are some of the companies, that are being funded by different investors for providing AI based solutions in healthcare industry.
By Offering Type
- Deep Learning
- Natural Language Processing
- Querying Method Metals
- Context Aware Processing
- Medical Imaging and Diagnostics
- Patient Data and Risk Analysis
- Precision Medicine
- Drug Discovery
- Virtual Assistant
- Inpatient Care and Hospital Management
- Robot Assisted Surgery
- Fraud Detection
By End User
- Healthcare Providers
- Pharmaceutical and Biotechnology Company
- Healthcare Payers