Sikkim Journal

Artificial Intelligence in Medicines Market Expected to Increase $18,119 million by 2025, to Beat a Outstanding CAGR At 49.6% from 2018 to 2025

 Breaking News
  • No posts were found

Artificial Intelligence in Medicines Market Expected to Increase $18,119 million by 2025, to Beat a Outstanding CAGR At 49.6% from 2018 to 2025

October 02
21:18 2019
Artificial Intelligence in Medicines Market Expected to Increase $18,119 million by 2025, to Beat a Outstanding CAGR At 49.6% from 2018 to 2025

Artificial Intelligence in Medicines Market
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.

Global Artificial Intelligence in Medicines market is estimated to reach $18,119 million by 2025 from $719 million in 2017 at a CAGR of 49.6%. Artificial intelligence (AI) in medicine is used to analyze complex medical data by approximating human cognition with the help of algorithms and software. The development of novel pharmaceuticals and biologicals through clinical trials can take more than a decade and cost billions of dollars during that tenure period. AI technology can help to make this process faster and cheaper, which in turn is expected to help improve the efficiency of pharmaceutical and biotechnology companies.

 

Download Sample: https://www.alliedmarketresearch.com/request-sample/4749

Growth Drivers and Industry Trends

The growth of the global artificial intelligence (AI) in medicine market is driven by the surge in AI capabilities due to increase in processing power, the need to compensate for the lack of skilled professionals in healthcare, and growing awareness regarding the importance of personalized medicine. However, limitations of AI in critical decision making and slow acceptance of AI by healthcare professionals impede market growth. Nonetheless, the increase in adoption of AI technology in developing countries would provide lucrative opportunities to emerging market players in the near future.

Segmentation Analysis of the Industry

Based on product type, the software segment dominated the global market in 2017 on account of perpetual software innovation that feeds the requirement of the healthcare sector. However, in the forecast period, the hardware segment is expected to witness the fastest growth. Based on technology, the natural language processing segment generated the highest revenue in 2017 and is expected to continue dominance through 2025. However, the deep learning segment is projected to grow at the fastest rate, as it enhances integral components of AI protocols like signal reduction, data mining, and image recognition.

Based on application, the personalized medicine segment is anticipated to encounter the fastest growth rate during the forecast period. By region, North America occupied the largest share in 2017 due to the easy availability of capital investment for implementing AI in drug discovery and the rise in adoption of AI technology by biotechnology and pharmaceutical companies. However, Asia-Pacific is projected to grow at the fastest CAGR of 55.0% from 2018 to 2025, due to growth in healthcare expenditure and rise in the R&D activities for advancement in AI technology.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4749

Industry Key Players

The key players analyzed in the report include Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Inc., Enlitic, Inc., BioXcel Corporation, and Berg Health.

 

Similar Reports:

Next Generation Sequencing (NGS) Market  : Global Opportunity Analysis and Industry Forecast, 2019–2026

Sports Medicine Devices Market Global Opportunity Analysis and Industry Forecast,2017 – 2025

 

About Us:

Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

 

Media Contact
Company Name: Allied Market Research
Contact Person: David Correa
Email: Send Email
Phone: +1-800-792-5285
Address:5933 NE Win Sivers Drive #205
City: Portland
State: OR 97220
Country: United States
Website: www.alliedmarketresearch.com/artificial-intelligence-in-medicine-market