The Global Ai In Healthcare Market Is Growing At 40.48% Of Cagr Due To The Increasing Funding From Ai Tech Giants

Triton Market Research presents the Global Artificial Intelligence in Healthcare market  report, segmented on the basis of Offerings ( hardware, software, services), Technology (context-aware processing, deep learning, natural language processing and querying method), Applications ( drug discovery, in-patient care and hospital management, lifestyle management and monitoring, medical imaging and diagnostics, patient data and risk analysis, research, virtual assistance, etc.), End-Users (ACOS and MCOS, patients, payers, pharma and biotech companies, and providers) and by Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

The report discusses industry value chain analysis, Porter's 5 Force Analysis, drivers, restraints, vendor profiles, global market size, forecasts & analysis (2019-2027).

Triton Market Research expects the Global Artificial Intelligence in Healthcare market to witness a compound annual growth rate (CAGR) of 40.48% during the forecast period of 2019-2027. Integration of medical software with the AI technology and a positive outlook for healthcare wearables industry over the forecast period promises ample growth opportunities for the market. Also, rising internet users and connected devices are resulting in more integrated healthcare, helping the connected devices or IoT healthcare industries to recast and revolutionize their patient healthcare tactics. 

The North American region has captured a significant share of the global Artificial Intelligence in the healthcare market. Triton Market Research forecasts that this region will continue having the upper hand throughout the projected years (2019-2027) in terms of CAGR. The U.S. government is a major supporter of the AI in the healthcare market. In the year 2016, the US government announced a draft to host a series of workshops and form a National Science & Technology Council Sub-committee to focus on Artificial Intelligence and machine learning technology. On the other hand, Europe is the second-highest contributor in the global AI in healthcare market, closely followed by the Asia-Pacific.

Artificial Intelligence is expected to be the next big thing in the global market, with the Economic Intelligence Unit estimating that more than 75% of the Fortune 500 companies will be implementing Artificial Intelligence in their organization by 2020. As a result, heavy investments are expected from all AI ventures, including AI in healthcare.

In its market analysis report, Triton Market Research has profiled prominent market players like Deep Genomics Inc., Google Inc., Welltok Inc., Microsoft Corporation, Recursion Pharmaceuticals, GE Healthcare, IBM Corporation, General Vision Inc., Stryker Corporation, ICarbonX Recursion Pharmaceuticals, Oncora Medical, and Intel Corporation.

The Artificial Intelligence in healthcare market is fairly fragmented due to the presence of many international, regional, and local players; ranging from large to small vendors. Thus, several market bigwigs are adopting strategies like mergers, acquisitions and collaboration to maintain their supremacy in the global market. For instance, Microsoft announced to implement Artificial Intelligence for eye care by collaborating with L V Prasad Eye Institute, India. Together they launched Microsoft Intelligent Network for Eyecare (MINE). This strategy will provide a new opportunity for Microsoft in India to come up with machine learning predictive models for vision impairment and eye disease. On the same line, several other key companies are partnering with local organizations to expand their presence in the global AI in healthcare market.