Reports Monitor PR_Artificial Intelligence in Healthcare Market

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Artificial Intelligence in Health-care Market is expected to grow at a
CAGR of 40.7% from 2017 to 2025, majorly due to the increasing big data
application in healthcare
Artificial Intelligence in Health-care Market
AI in health signifies a collection of several technologies enabling machines
to sense, act, learn and comprehend so they can perform clinical health-care and
administrative functions. AI is primarily likely to be adopted as an assistance
system, rather than replacement, for physicians. It will supplement physicians’
diagnoses, at the same time will also provide appreciated insights for the AI
to improve and learn continuously. For improving health-care, AI in medicine is a
great idea which can advance the health-care professional and patient
communication. AI is poised to bend through major sectors or industry of the
economy over the next decade, no industry should be more hospitable to
the technology than that of healthcare. The US being the most
technologically progressive nation in the globe and one with the most exclusive
health-care industry, the country is expected to be the proving ground
for AI-powered medicine.
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Factors such as fast and accurate diagnostics, reduce cost, virtual presence in the
form of tele-medicine in remote areas and reduce human errors are some of the
major reasons driving the Artificial Intelligence market growth. It would
be essential to address concerns over the security, protection, and
privacy of delicate health data. The intricacy of human biology and the necessity
for further technological improvement also mean that some of the more innovative
applications will take time to reach their potential customers and gain acceptance
from regulators, health-care providers and patients. The balanced patient to
health-care professional ratio on account of the AI united with its
rising incorporation with existing systems is expected to present the Artificial
Intelligence market with several great opportunities.
In the US, the FDA has regulatory authority over medical devices and AI
technologies. FDA has issued a number of assistance documents to support in
identifying when mobiles apps and software are considered to be medical
devices. Further important deliberations, given the ability of AI to
capture different forms of personal data, are cyber-security and data protection,
which are expected to become very important to safeguard the sustainability of
the AI system and technology. In the EU, these guidelines are soon to
be renovated by General Data Protection Regulation (GDPR). APAC has been the
fastest developing region in terms of innovations and growth owing to the
presence of the chief companies such as Microsoft, IBM, Google, Apple, GE
Health-care, and Siemens among others. China is the fastest growing country in
the artificial intelligence in the health-care market and is expected to overtake the
US in term of AI technology in coming future.