Artificial Intelligence in Medicine
SKU
MRR-4330CC794AA4
Region
Global
Publication Date
February 2024
Delivery
Immediate
2023
USD 4.44 billion
2030
USD 30.97 billion
2024
USD 5.85 billion
CAGR
31.97%
Artificial Intelligence in Medicine Market by Type (Hardware, Services, Software), Application (Disease Diagnosis & Identification, Patient Care, Research & Drug Invention), End User - Global Forecast 2024-2030

[197 Pages Report] The Artificial Intelligence in Medicine Market size was estimated at USD 4.44 billion in 2023 and expected to reach USD 5.85 billion in 2024, at a CAGR 31.97% to reach USD 30.97 billion by 2030.

Artificial Intelligence in Medicine Market
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Artificial intelligence (AI) in medicine involves the use of algorithms and software to approximate human cognition in the analysis, interpretation, and comprehension of complex medical and healthcare data. Specifically, it encompasses the application of machine learning models and AI systems to support healthcare providers in clinical settings, enhance diagnostic accuracy, personalize patient treatment plans, and streamline operational efficiencies within medical facilities. The increasing healthcare data volume, advancements in AI technology and data analytics, and growing demand for personalized medicine primarily drive the growth. Additionally, the need to improve healthcare outcomes and reduce treatment costs motivates the integration of AI in healthcare practices. However, the application of AI in medicine faces several challenges, including data privacy and security concerns, the need for large, annotated datasets for training AI models, and the limited understanding of AI technologies among healthcare practitioners. Regulatory and ethical considerations also pose significant hurdles to its widespread adoption. The integration of AI in medicine presents numerous opportunities, such as the development of predictive models for early diagnosis, AI-powered genomic sequencing for personalized treatments, and AI-driven analytics for operational improvement in healthcare facilities. Furthermore, the ongoing research and innovation in AI technologies offer a promising outlook for overcoming current limitations and expanding the capabilities of AI in enhancing patient care and healthcare services efficiency.
Artificial Intelligence in Medicine Market - Global Forecast 2024-2030
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FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Artificial Intelligence in Medicine Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Artificial Intelligence in Medicine Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Artificial Intelligence in Medicine Market, highlighting leading vendors and their innovative profiles. These include Atomwise, Inc., BenevolentAI, Berg LLC, Bioxcel Therapeutics, Inc., Enlitic Inc., Google LLC by Alphabet Inc., InSilico Medicine, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NVIDIA Corporation, PathAI, Inc., Recursion Pharmaceuticals, Inc., Tempus Labs, Inc., and Verge Analytics, Inc..

Market Segmentation & Coverage

This research report categorizes the Artificial Intelligence in Medicine Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Type
    • Hardware
    • Services
    • Software
  • Application
    • Disease Diagnosis & Identification
    • Patient Care
    • Research & Drug Invention
  • End User
    • Accountable Care Organizations & Managed Care Organizations
    • Patients
    • Payers
    • Pharmaceutical & Biotechnology Companies
    • Providers

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Artificial Intelligence in Medicine Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Artificial Intelligence in Medicine Market?
  3. What are the technology trends and regulatory frameworks in the Artificial Intelligence in Medicine Market?
  4. What is the market share of the leading vendors in the Artificial Intelligence in Medicine Market?
  5. Which modes and strategic moves are suitable for entering the Artificial Intelligence in Medicine Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Artificial Intelligence in Medicine Market, by Type
  7. Artificial Intelligence in Medicine Market, by Application
  8. Artificial Intelligence in Medicine Market, by End User
  9. Americas Artificial Intelligence in Medicine Market
  10. Asia-Pacific Artificial Intelligence in Medicine Market
  11. Europe, Middle East & Africa Artificial Intelligence in Medicine Market
  12. Competitive Landscape
  13. Competitive Portfolio
Companies Mentioned
  • Atomwise, Inc.
  • BenevolentAI
  • Berg LLC
  • Bioxcel Therapeutics, Inc.
  • Enlitic Inc.
  • Google LLC by Alphabet Inc.
  • InSilico Medicine
  • Intel Corporation
  • International Business Machines Corporation
  • Microsoft Corporation
  • NVIDIA Corporation
  • PathAI, Inc.
  • Recursion Pharmaceuticals, Inc.
  • Tempus Labs, Inc.
  • Verge Analytics, Inc.
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Frequently Asked Questions about the Artificial Intelligence in Medicine Market
The Global Artificial Intelligence in Medicine Market size was estimated at USD 4.44 billion in 2023 and expected to reach USD 5.85 billion in 2024.
The Global Artificial Intelligence in Medicine Market to grow USD 30.97 billion by 2030, at a CAGR of 31.97%
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