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Artificial Intelligence (AI) in Healthcare Market to Reach $27.6 billion by 2025- Exclusive Report by Meticulous Research®

London, July 30, 2019 (GLOBE NEWSWIRE) -- According to a new market research report “Artificial Intelligence in Healthcare Market by Product (Hardware, Software, Services), Technology (Machine Learning, Context-Aware Computing, NLP), Application (Drug Discovery, Precision Medicine), End User, and Geography – Global Forecast to 2025”, published by Meticulous Research®, the global artificial intelligence in healthcare market is expected to grow at a CAGR of 43.5% from 2018 to reach $27.6 billion by 2025.

Artificial intelligence (AI) is utilized by the healthcare industry in various applications such as patient data and risk analytics, medical imaging and diagnosis, drug discovery, precision medicine, hospital workflow management, and patient management as it applies various human intelligence-based functions such as reasoning, learning, and problem-solving skills on different disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering.

Request Sample Report: The growth of artificial intelligence in healthcare market is mainly driven by growing demand of precision medicines, effective cost reduction in the healthcare expenditure, and rising funding in healthcare artificial intelligence.

NLP technology segment is estimated to account for the largest share of the overall artificial intelligence in healthcare market in 2019, mainly attributed to the rising adoption of NLP in clinical documentation and automated coding in claims submissions.

Speak to our expert analyst: On the basis of application, the artificial intelligence in healthcare market is segmented into patient data and risk analytics, medical imaging and diagnosis, drug discovery, precision medicine, hospital workflow, patient management, and other applications.

The large share of this segment can be attributed to increasing implementation of machine learning, deep learning, and other detailed pattern recognition algorithms that provide clinical decision support while improving the efficiency of radiologists, pathologists, and other image-based diagnostics.

Hospitals and diagnostics centers end user segment is estimated to dominate the overall artificial intelligence in healthcare market during the forecast period, mainly due to increasing number of collaborations among hospitals and companies to develop and implement customized Al solutions.

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