Healthcare Artificial Intelligence Market: Industry Trends with Key Players: Lifegraph Ltd, Welltok, Inc., AiCure, Atomwise, Cyrcadia Health

Sellbyville, DE -- (SBWire) -- 11/30/2018 --Global Healthcare Artificial Intelligence Market is forecast to exceed USD 10 billion by 2024; according to a new research report by Global Market Insights, Inc. AI has revolutionized the healthcare industry by designing treatment plans, medication management, assisting in repetitive tasks, and drug discovery. Rising adoption of precision medicine has made enabled simplicity of management and cost reduction. Increasing application in genomics research coupled with incremental innovation in robotic personal digital assistants should boost industry growth.

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Huge initial investment, complex ROI structure and significant maintenance & repair costs should hamper industry growth. Rising concerns that healthcare AI adoption could lead to unemployment on a large scale can impede expansion over the forecast timeframe.

Drug discovery applications account for over 35% of healthcare artificial intelligence market share, which could see the segment exceed USD 4 billion in revenue by 2024. Machine learning and artificial intelligence will drive R&D and can improve success rate at the early drug development stages. Companies are using machine learning algorithms to reduce development time and build a strong and sustainable drugs pipeline.

Medical imaging and diagnosis should witness more than 40% growth to surpass USD 2.5 billion by 2024. Rising application of artificial intelligence in medical imaging has improved cancer tumour diagnosis at a very early stage compared to radiology. It utilizes deep learning techniques providing extraordinary performance for pattern recognition leading its way to become a game changer in the imaging and diagnosis industry.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Apixio
- Butterfly Network, Inc.
- SOPHiA GENETICS
- iCarbonX
- Modernizing Medicine
- Sensely
- Zebra Medical Vision Ltd
- Pathway Genomics Corporation
- AiCure
- Atomwise
- Cyrcadia Health
- Lifegraph Ltd
- Welltok, Inc.
- Enlitic
- Insilico Medicine, Inc

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U.S. healthcare artificial intelligence market size is set to exceed USD 325 million in 2016, witnessing over 35% CAGR over coming years. Adoption of novel healthcare technologies such as big data analytics and favourable government initiatives will drive industry growth. Federal authorities are encouraging the use of data analytics through various initiatives and policies to reduce cost and improve quality of healthcare services.

Healthcare Artificial Intelligence Market By Application
- Medical Imaging & Diagnosis
- Drug Discovery
- Therapy Planning
- Hospital Workflow