Artificial intelligence (AI) in medicine is used to analyze complex medical data by approximating human cognition with the help of algorithms and software.
2. Artificial Intelligence in Medicine Market - Global Opportunity Analysis & Industry Forecast
2021 - 2025
Artificial Intelligence in Medicine Market by Product Type (Hardware, Software, and Services),
Technology (Deep Learning, Querying Method, Natural Language Processing, and Context Aware
Processing), and Application (Drug Discovery & Repurposing, Clinical Research Trial, Personalized
Medicine, and Others) - Global Opportunity Analysis and Industry Forecast, 2018-2025
3. Artificial Intelligence in Medicine Market - Overview:
Different interventions that range from identification of patients and maintenance of their records during
clinical trials, to application in drug discovery and repurposing are gradually incorporating artificial
intelligence, thereby revolutionizing drug discovery and development setting.
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. For every drug that
is launched in the market, the pharmaceutical industry spends on an average $2.7 billion, which
amortizes the losses incurred from the aborted pipelines. Almost 90% of all drug programs that reach
clinical trial stages are aborted. Thus, many large pharma and academic research institutions are focusing
on use of AI to increase efficiencies and design better drugs.
4. Artificial Intelligence in Medicine Market - Major Key Players
• Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft
Corporation, General Vision, Inc., Enlitic, Inc., BioXcel Corporation, and Berg Health.
• Other prominent players in the value chain include InSilico Medicine, Inc., Globavir Biosciences, Inc.,
GNS Healthcare, Flatiron Health, Benevolent AI, Atomwise, Verge Genomics, Cloud Pharmaceuticals,
and Recursion Pharmaceuticals.
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medicine-market
5. Artificial Intelligence in Medicine Market Market & COVID-19
COVID-19 Scenario:
• Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing
on essential medical devices production including ventilators and diagnostics.
• However, due to the precautionary measures taken by governments in various regions, the supply
chain has been hampered. Which may result in shortage of devices in certain locations.
• Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical
device manufacturers to notify the agency about changes that could affect availability of their
products.
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6. Artificial Intelligence in Medicine Market – Regional outlook
The market is evaluated based on its regional penetration, explaining the performance of the market
in each regional market covering regions such as North America (United States, Canada and Mexico),
Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast
Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt,
Nigeria and South Africa)
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Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports,
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