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Healthcare Artificial Intelligence Market to grow at 40% CAGR from 2017 to 2024

Get more details @ http://bit.ly/2qBOn52 <br>The healthcare artificial intelligence market is highly fragmented characterized by presence of large number of industry players. Industry witnesses a number of start-ups for the past 3-4 years. Few innovative companies have set their footprint as pioneers in artificial intelligence industry.

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Healthcare Artificial Intelligence Market to grow at 40% CAGR from 2017 to 2024

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  1. Healthcare Artificial Intelligence Market share to hit $10bn by 2024: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. Key Insights from Healthcare Artificial Intelligence Market: • Healthcare Artificial Intelligence Market size is forecast to exceed USD 10 billion by 2024. • AI has revolutionized the healthcare industry by designing treatment plans, medication management, assisting in repetitive tasks, and drug discovery. • Rising adoption of precision medicine has made enabled simplicity of management and cost reduction. Increasing application in genomics research coupled with incremental innovation in robotic personal digital assistants should boost industry growth. • Medical imaging & diagnosis will witness more than 40% growth with expectations to surpass USD 2.5 billion by 2024. • It has gained acceptance owing to its capability to detect cancer at early stage, track tumor development and improve the patient’s life expectancy. Increasing application of artificial intelligence in diagnostics and imaging industry will further growth.

  3. Continued... • Increasing big data volume and the ever-increasing need to effectively store and manage the healthcare data will drive healthcare artificial intelligence market growth. • Huge initial investment, complex ROI structure and significant maintenance & repair costs should hamper industry growth. Rising concerns that healthcare AI adoption could lead to unemployment on a large scale can impede expansion over the forecast timeframe. • Drug discovery applications account for over 35% of healthcare artificial intelligence market share, which could see the segment exceed USD 4 billion in revenue by 2024. • Machine learning and artificial intelligence will drive R&D and can improve success rate at the early drug development stages. Companies are using machine learning algorithms to reduce development time and build a strong and sustainable drugs pipeline. • U.S. healthcare artificial intelligence market was valued over USD 320 million in 2016 and is estimated to witness more than 38% CAGR over the coming years.

  4. Continued... • Favorable government initiatives for promoting big data analytics adoption along with other innovative healthcare technologies will propel business growth. • Europe healthcare artificial intelligence market size was valued over USD 270 million in 2016, with expectations to witness more than 39% growth over the forecast years. • Japan held over 35% of regional industry share with expectations to witness more than 40% growth. Presence of large number of technology based companies and universities developing healthcare artificial intelligence solutions should fuel industry growth. • Brazil holds more than 48% of regional revenue, witnessing over 40% CAGR from 2017 to 2024. Growing awareness and favorable government initiatives should accelerate the penetration rate of healthcare artificial intelligence technology. • Some of the companies operating in healthcare artificial intelligence market space include AiCure, Cyrcadia Health, Google, IBM, and Microsoft.

  5. U.S. Healthcare Artificial Intelligence Market Size, By Application, 2013-2024 (USD Million)

  6. Browse Full Market Research Report On Healthcare Artificial Intelligence Market @ http://bit.ly/2pZFCkw Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/1557https://www.gminsights.com/request-sample/detail/49

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