The global artificial intelligence (AI) 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. AI is an intelligent system that applies various human intelligence-based functions such as reasoning, learning, and problem-solving skills. AI technology uses software and different algorithms in the field of pharmaceuticals to support the decision-making processes for existing drugs and repurposing drugs to treat other conditions, along with accelerating the clinical trials process by finding the right patients from several data sources.
Shortage of skilled healthcare professionals and increase in the processing power of AI systems that is projected to help improve the efficiency of drug discovery and management of clinical trials majorly drive the growth of the global artificial intelligence in medicine market. Furthermore, the growth in importance of precision medicine and rise in funding of the R&D activities for the use of AI technology in the field of medicine are expected to fuel the market growth. However, limited acceptance from healthcare professionals and limitations of AI decision-making can impede the market growth. Untapped market opportunities available in developing regions such as India and China help to open new avenues for the growth of the artificial intelligence in medicine market in future.
Major Key Players of the Artificial Intelligence in Medicine Market are:InSilico Medicine, Globavir Biosciences, GNS Healthcare, Flatiron Health, Benevolent AI, Atomwise, Verge Genomics, Cloud Pharmaceuticals, and Recursion Pharmaceuticals.
Read More @ https://www.openpr.com/news/2013527/artificial-intelligence-in-medicine-market-advanced
Shortage of skilled healthcare professionals and increase in the processing power of AI systems that is projected to help improve the efficiency of drug discovery and management of clinical trials majorly drive the growth of the global artificial intelligence in medicine market. Furthermore, the growth in importance of precision medicine and rise in funding of the R&D activities for the use of AI technology in the field of medicine are expected to fuel the market growth. However, limited acceptance from healthcare professionals and limitations of AI decision-making can impede the market growth. Untapped market opportunities available in developing regions such as India and China help to open new avenues for the growth of the artificial intelligence in medicine market in future.
Major Key Players of the Artificial Intelligence in Medicine Market are:InSilico Medicine, Globavir Biosciences, GNS Healthcare, Flatiron Health, Benevolent AI, Atomwise, Verge Genomics, Cloud Pharmaceuticals, and Recursion Pharmaceuticals.
Read More @ https://www.openpr.com/news/2013527/artificial-intelligence-in-medicine-market-advanced
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