Artificial Intelligence In Healthcare Market: Industry Trends, Share, Size, Growth, Opportunity And Forecast 2020-2027

 

In healthcare, artificial intelligence (AI) is used to manage and analyze data in order to perform clinical diagnoses and recommend appropriate treatment plans for a disease. It employs a variety of software and sophisticated algorithms to evaluate disease symptoms and patterns while providing better guidance, feedback, and support to healthcare providers. Aside from that, AI-enabled systems can provide digital and virtual consultations to patients, as well as drug creation and management services and healthcare analysis via smart wearable devices.

Artificial Intelligence in Healthcare Market Trends: One of the key factors driving the market growth is the increasing use of robots for surgical and rehabilitation procedures in the healthcare industry. Robots can perform minimally invasive (MI) surgeries on neurologic, orthopedic, and laparoscopic patients. Furthermore, the market is benefiting from the emerging trend of digitalization in the healthcare sector. Artificial Intelligence in Healthcare Market is being integrated into a variety of medical devices and systems to facilitate and secure data management. This also contributes to the generation of patient-specific information, which is used to provide personalized diagnostic and pharmaceutical services.

The growing geriatric population and their increasing reliance on healthcare services are also driving the market. Artificial Intelligence in Healthcare Market is increasingly being integrated into products for the elderly, such as smart devices for assisted living, fall detection, and virtual companions. These empathic robots can also care for physically and mentally challenged patients, whereas industrial robots are used in healthcare facilities to perform a variety of routine tasks. Other factors, such as increased R&D and favorable healthcare policies implemented by governments around the world, are expected to drive the market in the coming years.

Furthermore, pharmaceutical companies can use artificial intelligence to accelerate the drug development process, from drug discovery to commercialization. It has the potential to aid in the development of personalized medicines. Furthermore, it is increasingly being used in advanced disease management, such as cancer diagnosis and treatment, as research has shown that artificial intelligence can detect breast cancer spread to lymph nodes.

 For example, in October 2017, researchers from MIT's Computer Science and Artificial Intelligence Laboratory (CSAIL), Harvard Medical School, and Massachusetts General Hospital collaborated to use AI in breast cancer detection and diagnosis. In 335 high-risk lesions tested patients, the model developed by these scientists correctly diagnosed 97 percent of the cases.