Healthcare Artificial Intelligence Software Market Overview
Artificial intelligence is a combination of software programs with algorithms that can replicate human senses in analyzing medical data. Additionally, AI helps not only in diagnosis procedures but also help in drug development, making personalized medicine, and continuous monitoring of patients. Currently, several pioneering technology vendors are mainly focusing on the development of AI algorithms for the healthcare sector and the market is prospering for the same. All these significant factors are accountable for the growth of the global healthcare artificial intelligence software market.
Moreover, other factors such as larger new possibilities with big data, the capability of AI to improve patient care, the strong disparity between the mass of patients and healthcare professionals, and possibilities of reducing medical costs are anticipated to boost the demand for AI in the healthcare sector. Ultimately, it will be positively affecting the market’s development in the forthcoming period.
However, factors such as the unwillingness of medical practitioners to adopting new technologies, lack of universal regulatory strategies, lack of curated healthcare data, and concerns regarding data privacy are expected to hold back the Market’s development.
Healthcare Artificial Intelligence Software Market Segment Overview
Based on the application, the medical imaging & diagnostics segment shows remarkable growth in the market. This is mainly due to the presence of a large volume of imaging data, advantages offered by AI systems to radiologists in diagnosis and treatment management as well as the influx of a large number of startups in this segment. Additionally, Machine learning in the Healthcare Artificial Intelligence Software market is expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing adoption of deep learning in several healthcare applications such as in medical imaging, disease diagnostics, and drug discovery. Also, the use of different sensors and devices to track a patient’s health status in real-time is contributing to the growth of the market.
Furthermore, the ongoing COVID-19 pandemic, coupled with fovarable government initiatives, rising importance of precision medicine, increasing number of cross-industry collaborations, growing venture capital investments, and increasing old age population are some of the other remarkable points directly affecting the growth of the market in a positive way.
Healthcare Artificial Intelligence Software Market Regional Overview
North America accounts for a major share in the Healthcare AI Software market. This is due to the early adoption of new technology, presence of a number of pioneering companies in this region. Whereas, Europe is another main region for the vendors of Healthcare AI Software. Similarly, Asia Pacific is expected to witness steady growth in the market. The developing countries such as Japan, South Korea, China, and India are anticipated to create decent demand over the forecast period.
Healthcare Artificial Intelligence Software Market Competitor overview
· In August 2020, Digital Diagnostics Inc., a pioneering global healthcare autonomous artificial intelligence (AI) company formerly known as IDx, announced it has acquired 3Derm Systems, Inc. of Boston, MA. This acquisition makes Digital Diagnostics the global leader in healthcare autonomous AI.
· In April 2020, Microsoft is dedicated $20 million to advance the use of artificial intelligence and data science in COVID-19 research, with a particular focus on diagnostics, hospital resources, and other critical areas.
Healthcare Artificial Intelligence Software Market, Key Players
· IBM Corporation
· Welltok, Inc.
· Intel Corporation
· Google, Inc.
· Next IT Corp.
· Microsoft Corporation
· General Electric Company
· Medtronic PLC
· Koninklijke Philips N.V.
· Nuance Communications, Inc.
· NVIDIA Corporation
· DeepMind Technologies Limited
Healthcare Artificial Intelligence Software Market Segmentation
Healthcare Artificial Intelligence Software Market, By Software
· Querying Method
· Deep Learning
· Context Aware Processing
· Natural Language Processing
Healthcare Artificial Intelligence Software Market, By Application
· Wearables
· Virtual Assistant
· Research and Drug Discovery
· In-Patient Care
· Hospital Management
· Medical Imaging and Diagnosis
· Precision Medicine
· Lifestyle Management and Monitoring
· Patient Data and Risk Analysis
Healthcare Artificial Intelligence Software Market, By Region:
Artificial intelligence is a combination of software programs with algorithms that can replicate human senses in analyzing medical data. Additionally, AI helps not only in diagnosis procedures but also help in drug development, making personalized medicine, and continuous monitoring of patients. Currently, several pioneering technology vendors are mainly focusing on the development of AI algorithms for the healthcare sector and the market is prospering for the same. All these significant factors are accountable for the growth of the global healthcare artificial intelligence software market.
Moreover, other factors such as larger new possibilities with big data, the capability of AI to improve patient care, the strong disparity between the mass of patients and healthcare professionals, and possibilities of reducing medical costs are anticipated to boost the demand for AI in the healthcare sector. Ultimately, it will be positively affecting the market’s development in the forthcoming period.
However, factors such as the unwillingness of medical practitioners to adopting new technologies, lack of universal regulatory strategies, lack of curated healthcare data, and concerns regarding data privacy are expected to hold back the Market’s development.
Healthcare Artificial Intelligence Software Market Segment Overview
Based on the application, the medical imaging & diagnostics segment shows remarkable growth in the market. This is mainly due to the presence of a large volume of imaging data, advantages offered by AI systems to radiologists in diagnosis and treatment management as well as the influx of a large number of startups in this segment. Additionally, Machine learning in the Healthcare Artificial Intelligence Software market is expected to grow at the highest CAGR during the forecast period. This is attributed to the increasing adoption of deep learning in several healthcare applications such as in medical imaging, disease diagnostics, and drug discovery. Also, the use of different sensors and devices to track a patient’s health status in real-time is contributing to the growth of the market.
Furthermore, the ongoing COVID-19 pandemic, coupled with fovarable government initiatives, rising importance of precision medicine, increasing number of cross-industry collaborations, growing venture capital investments, and increasing old age population are some of the other remarkable points directly affecting the growth of the market in a positive way.
Healthcare Artificial Intelligence Software Market Regional Overview
North America accounts for a major share in the Healthcare AI Software market. This is due to the early adoption of new technology, presence of a number of pioneering companies in this region. Whereas, Europe is another main region for the vendors of Healthcare AI Software. Similarly, Asia Pacific is expected to witness steady growth in the market. The developing countries such as Japan, South Korea, China, and India are anticipated to create decent demand over the forecast period.
Healthcare Artificial Intelligence Software Market Competitor overview
· In August 2020, Digital Diagnostics Inc., a pioneering global healthcare autonomous artificial intelligence (AI) company formerly known as IDx, announced it has acquired 3Derm Systems, Inc. of Boston, MA. This acquisition makes Digital Diagnostics the global leader in healthcare autonomous AI.
· In April 2020, Microsoft is dedicated $20 million to advance the use of artificial intelligence and data science in COVID-19 research, with a particular focus on diagnostics, hospital resources, and other critical areas.
Healthcare Artificial Intelligence Software Market, Key Players
· IBM Corporation
· Welltok, Inc.
· Intel Corporation
· Google, Inc.
· Next IT Corp.
· Microsoft Corporation
· General Electric Company
· Medtronic PLC
· Koninklijke Philips N.V.
· Nuance Communications, Inc.
· NVIDIA Corporation
· DeepMind Technologies Limited
Healthcare Artificial Intelligence Software Market Segmentation
Healthcare Artificial Intelligence Software Market, By Software
- AI Solutions
- On-Premises
- Cloud
- AI Platform
- Machine Learning Framework
- Application Program Interface
- Services
- Deployment & Integration
- Support & Maintenance
· Querying Method
· Deep Learning
· Context Aware Processing
· Natural Language Processing
Healthcare Artificial Intelligence Software Market, By Application
· Wearables
· Virtual Assistant
· Research and Drug Discovery
· In-Patient Care
· Hospital Management
· Medical Imaging and Diagnosis
· Precision Medicine
· Lifestyle Management and Monitoring
· Patient Data and Risk Analysis
Healthcare Artificial Intelligence Software Market, By Region:
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Healthcare Artificial Intelligence Software Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Software
- 5.2.1. AI Solutions
- 5.2.1.1. On-Premises
- 5.2.1.2. Cloud
- 5.2.2. AI Platform
- 5.2.2.1. Machine Learning Framework
- 5.2.2.2. Application Program Interface
- 5.2.3. Services
- 5.2.4. Deployment & Integration
- 5.2.5. Support & Maintenance
- 5.2.1. AI Solutions
- 5.3. Market Analysis, Insights and Forecast – By Technology
- 5.3.1. Querying Method
- 5.3.2. Deep Learning
- 5.3.3. Context Aware Processing
- 5.3.4. Natural Language Processing
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Wearables
- 5.4.2. Virtual Assistant
- 5.4.3. Research and Drug Discovery
- 5.4.4. In-Patient Care
- 5.4.5. Hospital Management
- 5.4.6. Medical Imaging and Diagnosis
- 5.4.7. Precision Medicine
- 5.4.8. Lifestyle Management and Monitoring
- 5.4.9. Patient Data and Risk Analysis
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East and Africa
6. North America Healthcare Artificial Intelligence Software Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Software
- 6.2.1. AI Solutions
- 6.2.1.1. On-Premises
- 6.2.1.2. Cloud
- 6.2.2. AI Platform
- 6.2.2.1. Machine Learning Framework
- 6.2.2.2. Application Program Interface
- 6.2.3. Services
- 6.2.4. Deployment & Integration
- 6.2.5. Support & Maintenance
- 6.2.1. AI Solutions
- 6.3. Market Analysis, Insights and Forecast – By Technology
- 6.3.1. Querying Method
- 6.3.2. Deep Learning
- 6.3.3. Context Aware Processing
- 6.3.4. Natural Language Processing
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Wearables
- 6.4.2. Virtual Assistant
- 6.4.3. Research and Drug Discovery
- 6.4.4. In-Patient Care
- 6.4.5. Hospital Management
- 6.4.6. Medical Imaging and Diagnosis
- 6.4.7. Precision Medicine
- 6.4.8. Lifestyle Management and Monitoring
- 6.4.9. Patient Data and Risk Analysis
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Latin America Healthcare Artificial Intelligence Software Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Software
- 7.2.1. AI Solutions
- 7.2.1.1. On-Premises
- 7.2.1.2. Cloud
- 7.2.2. AI Platform
- 7.2.2.1. Machine Learning Framework
- 7.2.2.2. Application Program Interface
- 7.2.3. Services
- 7.2.4. Deployment & Integration
- 7.2.5. Support & Maintenance
- 7.2.1. AI Solutions
- 7.3. Market Analysis, Insights and Forecast – By Technology
- 7.3.1. Querying Method
- 7.3.2. Deep Learning
- 7.3.3. Context Aware Processing
- 7.3.4. Natural Language Processing
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Wearables
- 7.4.2. Virtual Assistant
- 7.4.3. Research and Drug Discovery
- 7.4.4. In-Patient Care
- 7.4.5. Hospital Management
- 7.4.6. Medical Imaging and Diagnosis
- 7.4.7. Precision Medicine
- 7.4.8. Lifestyle Management and Monitoring
- 7.4.9. Patient Data and Risk Analysis
- 7.5. Insights and Forecast – By Country
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
8. Europe Healthcare Artificial Intelligence Software Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Software
- 8.2.1. AI Solutions
- 8.2.1.1. On-Premises
- 8.2.1.2. Cloud
- 8.2.2. AI Platform
- 8.2.2.1. Machine Learning Framework
- 8.2.2.2. Application Program Interface
- 8.2.3. Services
- 8.2.4. Deployment & Integration
- 8.2.5. Support & Maintenance
- 8.2.1. AI Solutions
- 8.3. Market Analysis, Insights and Forecast – By Technology
- 8.3.1. Querying Method
- 8.3.2. Deep Learning
- 8.3.3. Context Aware Processing
- 8.3.4. Natural Language Processing
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Wearables
- 8.4.2. Virtual Assistant
- 8.4.3. Research and Drug Discovery
- 8.4.4. In-Patient Care
- 8.4.5. Hospital Management
- 8.4.6. Medical Imaging and Diagnosis
- 8.4.7. Precision Medicine
- 8.4.8. Lifestyle Management and Monitoring
- 8.4.9. Patient Data and Risk Analysis
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Rest of Europe
9. Asia Pacific Healthcare Artificial Intelligence Software Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Software
- 9.2.1. AI Solutions
- 9.2.1.1. On-Premises
- 9.2.1.2. Cloud
- 9.2.2. AI Platform
- 9.2.2.1. Machine Learning Framework
- 9.2.2.2. Application Program Interface
- 9.2.3. Services
- 9.2.4. Deployment & Integration
- 9.2.5. Support & Maintenance
- 9.2.1. AI Solutions
- 9.3. Market Analysis, Insights and Forecast – By Technology
- 9.3.1. Querying Method
- 9.3.2. Deep Learning
- 9.3.3. Context Aware Processing
- 9.3.4. Natural Language Processing
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Wearables
- 9.4.2. Virtual Assistant
- 9.4.3. Research and Drug Discovery
- 9.4.4. In-Patient Care
- 9.4.5. Hospital Management
- 9.4.6. Medical Imaging and Diagnosis
- 9.4.7. Precision Medicine
- 9.4.8. Lifestyle Management and Monitoring
- 9.4.9. Patient Data and Risk Analysis
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. South East Asia
- 9.5.6. Rest of Asia Pacific
10. Middle East & Africa Healthcare Artificial Intelligence Software Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Software
- 10.2.1. AI Solutions
- 10.2.1.1. On-Premises
- 10.2.1.2. Cloud
- 10.2.2. AI Platform
- 10.2.2.1. Machine Learning Framework
- 10.2.2.2. Application Program Interface
- 10.2.3. Services
- 10.2.4. Deployment & Integration
- 10.2.5. Support & Maintenance
- 10.2.1. AI Solutions
- 10.3. Market Analysis, Insights and Forecast – By Technology
- 10.3.1. Querying Method
- 10.3.2. Deep Learning
- 10.3.3. Context Aware Processing
- 10.3.4. Natural Language Processing
- 10.4. Market Analysis, Insights and Forecast – By Application
- 10.4.1. Wearables
- 10.4.2. Virtual Assistant
- 10.4.3. Research and Drug Discovery
- 10.4.4. In-Patient Care
- 10.4.5. Hospital Management
- 10.4.6. Medical Imaging and Diagnosis
- 10.4.7. Precision Medicine
- 10.4.8. Lifestyle Management and Monitoring
- 10.4.9. Patient Data and Risk Analysis
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. IBM Corporation
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. Welltok, Inc.
- 11.6. Intel Corporation
- 11.7. Google, Inc.
- 11.8. Next IT Corp.
- 11.9. Microsoft Corporation
- 11.10. General Electric Company
- 11.11. Medtronic PLC
- 11.12. Koninklijke Philips N.V.
- 11.13. Nuance Communications, Inc.
- 11.14. NVIDIA Corporation
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
