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Artificial Intelligence in Medicine Market

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newmarketindustry
6 diapositives · 152 Views · Dec 23, 2019

The global artificial intelligence in medicines market was valued at $719 million in 2017 and is estimated to reach $18,119 million at a CAGR of 49.6% from 2018 to 2025.

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Artificial Intelligence in Medicine Market
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  1. Artificial Intelligence in Medicine Market

  2. Different interventions that range from identification of patients and maintenance of their records during clinical trials, to application in drug discovery and repurposing are gradually incorporating artificial intelligence, thereby revolutionizing drug discovery and development setting. Get Sample Report

  3. Artificial Intelligence in Medicine Market was valued at $719 million in 2017 and is estimated to reach $18,119 million at a CAGR of 49.6% from 2018 to 2025. North America was the highest contributor to the artificial intelligence in medicine market in 2017. however, Asia-Pacific is expected to witness the highest growth during the forecast period.

  4. In the field of medicine, artificial intelligence (AI) can be used for research studies and applications that support decision-based medical tasks using data-intensive computer-based solutions. For every drug that is launched in the market, the pharmaceutical industry spends on an average $2.7 billion, which amortizes the losses incurred from the aborted pipelines. Almost 90% of all drug programs that reach clinical trial stages are aborted. Thus, many large pharma and academic research institutions are focusing on use of AI to increase efficiencies and design better drugs.

  5. Key Findings of the Artificial Intelligence in Medicine Market: • The personalized medicine segment is projected to grow at the highest rate among the application segment during the analysis period. • North America dominated global artificial intelligence in medicine market in 2017 and is projected to continue its dominance in future. • China is expected to grow at the highest rate in Asia-Pacific during the forecast period. • Software is the largest contributor among the product type segments in 2017.

  6. The key players operating in the global artificial intelligence in medicine market include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., BioXcel Corporation, and Berg Health. Other prominent players in the value chain include InSilico Medicine, Inc., Globavir Biosciences, Inc., GNS Healthcare, Flatiron Health, Benevolent AI, Atomwise, Verge Genomics, Cloud Pharmaceuticals, and Recursion Pharmaceuticals.