Artificial Intelligence in Medicine Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2022 and Forecast 2022-2028

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Artificial Intelligence in Medicine Market By Application (Hospital Workflow, Medical Imaging & Diagnosis, Therapy Planning, and Drug Discovery), and Geography

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Report

Description

Artificial Intelligence in Medicine market size is valued at USD 782.2 million in 2021 and is expected to grow at a CAGR of 46.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the artificial intelligence in medicine market and which can be segmented by application, and region. Based on the application, artificial intelligence in the medical market has been segregated into hospital workflow, medical imaging & diagnosis, therapy planning, and drug discovery. By application, the drug discovery segment would expect to rise in the coming few years owing to the increasing adoption of artificial intelligence in drug discoveries. By region, North America is anticipated to dominate the artificial intelligence in medicine market owing to one of the largest markets for AI in the world. Furthermore, the strong economy, the high adoption rate of AI technologies across healthcare and pharma, the vigorous presence of prominent AI software and system suppliers, and huge investment by government and private organizations for the development and growth of research & development activities are poised to drive the demand for AI in medicine in the region.

Key Development:

In Jan 2020, BioMotiv and Atomwise announced a strategic partnership to co-develop therapies. The organizations will form co-owned, joint development companies that combine Atomwise’s AI technology and BioMotiv’s deep expertise in preclinical and clinical development to grow innovative academic and early-stage research into small molecule therapies. Atomwise’s AI technology will enable a lot of programs for challenging targets that are considered undruggable with traditional tools.

Artificial Intelligence in Medicine Market

MARKET SUMMARY
-
46.3%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 46.3%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Artificial Intelligence in Medicine Market

  • The report on global artificial intelligence in medicine market gives historical, current and future market sizes (US$ Mn) on the basis of application and geography.
  • The artificial intelligence in medicine market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • iCarbonX
  • Next IT Corp.
  • CloudMedx Inc.
  • Carescore
  • Welltok, Inc.
Artificial Intelligence in Medicine Market Drivers

There are some factors that drive the growth of AI in the medicine market including the dearth of skilled healthcare professionals and an increase in the processing power of AI systems which are estimated to enhance the efficiency of drug discovery and management of clinical trials. Additionally, the rise in importance of precision medicine and the rise in funding for the R&D activities of the use of AI technology in the field of medicine are further anticipated to boost the market growth. However, limited acceptance from healthcare professionals and limitations of AI decision-making could hamper the market growth.


North-America Got Significant Share

Artificial Intelligence in Medicine Market

Geographically, global artificial intelligence in medicine market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America artificial intelligence in medicine market is growing due to its deep-rooted healthcare infrastructure. The higher adoption of the advanced treatment options is another factor adding fuel for the growth of the market in this region. The Europe artificial intelligence in medicine market is falling next to North America. The Asia Pacific region is expected to grow over the forecast period owing to its growing awareness among the people regarding the treatment options associated with artificial intelligence.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The artificial intelligence in medicine market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Artificial Intelligence in Medicine Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

Based on application, the drug discovery segment is expected to account for the largest share of the Artificial Intelligence in Medicine market during the forecast period, owing to the increasing adoption of AI in drug discoveries and development. Furthermore, AI leads to more accuracy and minimal time to develop a new drug.

Patient management applications anticipated significant growth. The increasing role of AI in assessing patient conditions and the progress of patients through multiple stages of illness has attracted the attention of healthcare professionals. This is the main reason for which real-time remote patient monitoring systems, apart from their benefits, are capable of delivering a paradigm-shifting approach to healthcare upgradation for the long term.

The AI in Medicine Market is growing at a CAGR of 46.3% in the coming next few years.

North America dominated the global artificial intelligence in medicine market and held a significant market share, and would expand to dominate the global market by making more technological advancements in medical sectors.


Report

Table Of Content

  1. Executive Summary
  2. Global Artificial Intelligence in Medicine Market Introduction
    • Global Artificial Intelligence in Medicine Market – Taxonomy
    • Global Artificial Intelligence in Medicine Market –Definitions
      • Application
  1. Global Artificial Intelligence in Medicine Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Artificial Intelligence in Medicine Market Dynamic Factors – Impact Analysis
    • Global Artificial Intelligence in Medicine Market – Competition Landscape
    • Epidemiology
  2. Global Artificial Intelligence in Medicine Market Analysis,2015 – 2019 and Forecast, 2020 – 2026
    • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market OpportunityAnalysis
  3. Global Artificial Intelligence in Medicine Market, By Application, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Hospital Workflow
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Medical Imaging & Diagnosis
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Therapy Planning
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Drug Discovery
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Artificial Intelligence in Medicine Market Forecast, By Region, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Artificial Intelligence in Medicine Market – Opportunity Analysis Index, By Application and Region, 2020 – 2026
  2. North America Artificial Intelligence in Medicine Market Analysis,2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Application Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%)
      • Hospital Workflow
      • Medical Imaging & Diagnosis
      • Therapy Planning
      • Drug Discovery
    • Country Analysis 2016 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • US
      • Canada
    • North America Artificial Intelligence in Medicine Market – Opportunity Analysis Index, By Application and Country, 2020 – 2026
    • North America Artificial Intelligence in Medicine Market Dynamics – Trends
  3. Europe Artificial Intelligence in Medicine Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Application Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hospital Workflow
      • Medical Imaging & Diagnosis
      • Therapy Planning
      • Drug Discovery
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Artificial Intelligence in Medicine Market – Opportunity Analysis Index, By Application and Country,2020 – 2026
    • Europe Artificial Intelligence in Medicine Market Dynamics – Trends
  4. Asia-Pacific Artificial Intelligence in Medicine Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Application Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hospital Workflow
      • Medical Imaging & Diagnosis
      • Therapy Planning
      • Drug Discovery
    • Country Analysis2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Artificial Intelligence in Medicine Market – Opportunity Analysis Index, By Application and Country,2020 – 2026
    • Asia-Pacific Artificial Intelligence in Medicine Market Dynamics – Trends
  5. Latin America Artificial Intelligence in Medicine Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Application Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hospital Workflow
      • Medical Imaging & Diagnosis
      • Therapy Planning
      • Drug Discovery
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Venezuela
      • Rest of Latin America
    • Latin America Artificial Intelligence in Medicine Market – Opportunity Analysis Index, By Application and Country,2020 – 2026
    • Latin America Artificial Intelligence in Medicine Market Dynamics – Trends
  6. Middle East and Africa Artificial Intelligence in Medicine Market Analysis, 2015 – 2019 and Forecast, 2020 – 2026 (Revenue, USD Mn)
    • Application Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Hospital Workflow
      • Medical Imaging & Diagnosis
      • Therapy Planning
      • Drug Discovery
    • Country Analysis 2015 – 2019 and Forecast 2020 – 2026 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Artificial Intelligence in Medicine Market – Opportunity Analysis Index, By Application and Country,2020 – 2026
    • MEA Artificial Intelligence in Medicine Market Dynamics – Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Product Type& Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • IBM Corporation (US)
      • Intel Corporation (US)
      • Google, Inc. (US)
      • NVIDIA Corporation (US)
      • Microsoft Corporation (US)
      • iCarbonX (China)
      • Next IT Corp. (US)
      • CloudMedx Inc. (US)
      • Carescore (US)
      • Johnson & Johnson (US)
      • Welltok, Inc. (US)
      • General Vision, Inc. (US)
  1. Research Methodology
  2. Key Assumptions and Acronyms

Report

Company Profile

  • IBM Corporation (US)
  • Intel Corporation (US)
  • Google, Inc. (US)
  • NVIDIA Corporation (US)
  • Microsoft Corporation (US)
  • iCarbonX (China)
  • Next IT Corp. (US)
  • CloudMedx Inc. (US)
  • Carescore (US)
  • Johnson & Johnson (US)
  • Welltok, Inc. (US)
  • General Vision, Inc. (US)

Description

Artificial Intelligence in Medicine market size is valued at USD 782.2 million in 2021 and is expected to grow at a CAGR of 46.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the artificial intelligence in medicine market and which can be segmented by application, and region. Based on the application, artificial intelligence in the medical market has been segregated into hospital workflow, medical imaging & diagnosis, therapy planning, and drug discovery. By application, the drug discovery segment would expect to rise in the coming few years owing to the increasing adoption of artificial intelligence in drug discoveries. By region, North America is anticipated to dominate the artificial intelligence in medicine market owing to one of the largest markets for AI in the world. Furthermore, the strong economy, the high adoption rate of AI technologies across healthcare and pharma, the vigorous presence of prominent AI software and system suppliers, and huge investment by government and private organizations for the development and growth of research & development activities are poised to drive the demand for AI in medicine in the region.

Key Development:

In Jan 2020, BioMotiv and Atomwise announced a strategic partnership to co-develop therapies. The organizations will form co-owned, joint development companies that combine Atomwise’s AI technology and BioMotiv’s deep expertise in preclinical and clinical development to grow innovative academic and early-stage research into small molecule therapies. Atomwise’s AI technology will enable a lot of programs for challenging targets that are considered undruggable with traditional tools.

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