Seattle, WA -- (SBWIRE) -- 11/04/2019 -- Artificial intelligence (AI) refers to creation of unique systems with the help of algorithms and software that can perform certain tasks without human intervention and instructions. Artificial intelligence comprises integration of several technologies such as machine learning, natural language processing, reasoning, and perception.

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Market Overview:

AI is used in healthcare for approximation of human cognition and analysis of complex medical and diagnostic imaging data. Artificial intelligence is primarily used in healthcare to analyze the relationship between treatment techniques and patient outcomes. AI programs are deployed in medical practices such as diagnostic processes, drug development, personalized medicines, and patient monitoring care. For instance, AI could aid in clinical processes by checking the vital signs, asking questions, and giving prescriptions to the patients.

Key players:

IBM Watson Health, DEEP GENOMICS, Koninklijke Philips N.V., Stryker, CloudMedx Inc., General Vision, Intel Corporation, Google, General Electric, Next IT Corp., Microsoft Corporation, NVIDIA Corporation.

Advancements in clinical research and personal digital assistants have shown incredible potential of artificial intelligence technology over the recent decade. The use of artificial intelligence and its broadening horizons in research areas is likely to drive the AI in healthcare market.

Market growth:

Growing applications of healthcare artificial intelligence software and solutions will positively influence the industry growth. Promising application of artificial intelligence in the future includes image recognition to analyze large sets of MRI and CT scans to identify and diagnose malignant tumors with more accuracy than expert radiologists. Moreover, the application of artificial intelligence for assisting and monitoring patients with their needs in the absence of clinical professionals will also augment the industry growth.

Increasing adoption of artificial intelligence, big data and machine learning tools in wearables to provide insights and make effective clinical decisions will foster its adoption amongst adults. Also, development of technologically advanced wearables that utilizes machine learning to identify significant changes in the patient's vital parameters that allows caregivers to deliver quality care will prove beneficial for the segmental growth.

Market Segmentation:

By Component
Hardware
Software
Services

By Application
Robot-Assisted Surgery
Virtual Nursing Assistant
Dosage Error Reduction
Clinical Trial
Preliminary Diagnosis
Automated Image Diagnosis

By End User
Hospital & Diagnostic Centers
Pharmaceutical & Biotechnology Companies
Academic & Research Laboratories

By Region
North America
Europe
Asia Pacific
The Middle East & Africa (MEA)
Latin America

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