World AI Market to Post 48% CAGR to 2023, Predicts AMR in Its Discounted Study Available at MarketPublishers.com18 Dec 2017 • by Natalie Aster
LONDON – Worldwide, the AI market was worth USD 1,441 million as of 2016, and is posited to amount to USD 22,790 million by end-2023, demonstrating 48% CAGR to 2023.
AI is broadly used in the healthcare sector for different purposes like drug discovery and personalized medicine (PM). Moreover, it is utilised to analyse patient’s medical data, predict the onset of the disease, and personalise therapy for patients.
The market growth is propelled by a hike in the adoption rate of AI systems and technological advances in the AI universe. Additionally, the capability of these systems to enhance patient outcomes, rising PM adoption, and growing need for coordination between healthcare professionals and patients are projected to give a boost to the market growth. However, the dearth of standard rules, regulations and guidelines and also the unwillingness of healthcare staff members to adopt AI-based technologies are likely to act as the major restraints to the sector’s growth in the offing.
Shimadzu Recursion Pharmaceuticals, Inc., Koninklijke Philips N.V., Siemens Healthineers, GE Company, Cloudmedx, Inc., and Bay Labs, Inc., amid others, are the leading players in the market space.
Discounted research study “Artificial Intelligence in Healthcare Market - Global Opportunity Analysis and Industry Forecast, 2017-2023” drawn up by AMR provides an all-round assessment of the market worldwide.
The report presents a comprehensive, shrewd quantitative analysis of the actual market trends during 2016-2023 and identifies the prevailing opportunities. It contains Porter’s five forces analysis; discusses the regulation and reimbursement scenario; casts light on the market dynamics covering key drivers, hindrances and opportunities. The report provides granular market categorisation by technology, offering, application, end-user sector, and geography-wise. The report highlights the competitive environment and profiles the top players. Additionally, the report offers exhaustive forecasts of the prospective development of the AI market during the next 8 years.
A complete collection of the publisher’s research reports is provided in the AMR online catalogue at MarketPublishers.com.