Machine Learning in Healthcare- Market Scope
Machine learning is a rapidly rising technology with exciting implications for healthcare. For instance, by crunching large volumes of data, machine learning technology can help healthcare professionals generate precise medicine solutions customized to individual characteristics. Machine learning is to conceptualize it as developing algorithms and apps based on past experiences and current data-both historical and real-time data. Rising Prevalence of Chronic Diseases have contributed to the need for Faster and Accurate Disease Detection. Increasing Technology Improvement of doctors during telemedicine sessions, as well as capture information during virtual visits to streamline workflows.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Nuance Communications, Inc. (United States), IBM Corporation (United States), Microsoft (United States), NVIDIA Corporation (United States), Intel Corporation (United States), DeepMind Technologies Limited (United Kingdom), Tempus (United States), PathAI (United States), Kareo (United States) and Beta Bionics (United States) |
CAGR | % |
The companies of AI Platform for Digital Health that helps healthcare organizations accelerate their journey from business intelligence (BI) to AI to return on investment (ROI). The key manufacturers are targeting the innovations of the better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Machine Learning in Healthcare- market throughout the predicted period.
Nuance Communications, Inc. (United States), IBM Corporation (United States), Microsoft (United States), NVIDIA Corporation (United States), Intel Corporation (United States), DeepMind Technologies Limited (United Kingdom), Tempus (United States), PathAI (United States), Kareo (United States) and Beta Bionics (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are KenSci (United States), Ciox Health (United States), Subtle Medical (United States), Pfizer (United States) and Insitro (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Machine Learning in Healthcare- market by Type , by Application (Robot-Assisted Surgery, Virtual Assistants, Administrative Workflow Assistants, Connected Machines, Diagnosis, Clinical Trials, Fraud Detection, Cybersecurity and Dosage Error Reduction) and Region with country level break-up.
On the basis of geography, the market of Machine Learning in Healthcare- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
On 24th June 2021, Tegria announced the acquisition of KenSci, a leader in artificial intelligence platforms and applications for healthcare, with roots in Microsoft's Azure4Research program and the University of Washington. KenSci has been helping customers get more from their data for years, and they understand the vital roles invention and collaboration play in helping accelerate transformation across all facets of care.
On 29th Sep 2020, KenSci, a healthcare analytics and artificial intelligence (AI) company announced the launch of their AI Platform for Digital Health that helps healthcare organizations accelerate their journey from business intelligence (BI) to AI to return on investment (ROI). The re-imagined AI platform extends KenSci's runtime engine with BI-AI development capabilities and the latest predictive analytics technology that enables health organizations to develop BI and AI-based workloads in an easy and agile way.
Machine Learning in Healthcare- Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - Adoption of Technologies Based on Artificial Intelligence (AI) in Healthcare
- Increasing Innovation in the robot-assisted surgeries and Development of Machine Learning
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Key Restraints | - Technical Limitations and Lack of Accuracy to Impede the Market Growth
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Challenges | - Challenge in Innovation of the Robot-assisted Surgeries and Development of Machine Learning
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Market Opportunities | - Increasing Technology Improvement of doctors during telemedicine sessions, as well as capture information during virtual visits to streamline workflows.
- Growing Demand for technologies in healthcare industry are Growing Opportunities for Players
- Government initiatives are Growing Number of Investments from Private Investors and Venture Capitalists
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Key Target Audience
Machine Learning in Healthcare Manufacturers, Research and Development Institutes, Potential Investors, Hospitals, Regulatory Bodies and Others