Market Overview:
The global AI medicine software market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for AI-based software for diagnosis processes, treatment protocol development, drug development, personalized medicine and patient monitoring and care. Additionally, the growing adoption of AI technology in hospitals and laboratories is also contributing to the growth of this market. However, lack of awareness about the benefits offered by AI-based software solutions may restrain the growth of this market during the forecast period.
Product Definition:
AI Medicine Software is a software that uses artificial intelligence to help doctors diagnose and treat diseases. It is important because it can help doctors treat diseases more effectively and efficiently.
Diagnosis Processes:
The global diagnosis processes, it's usage and growth factor in AI medicine software market size was valued at USD 0.9 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 21.1% from 2019 to 2023.
Treatment Protocol Development:
Treatment Protocol Development and it's usage in AI Medicine Software market is a process of designing customized treatment plans for every patient based on their specific biological data. It includes the identification of biomarkers, genes, proteins or any other relevant factors that can be used to formulate a precise set of instructions for the physician to follow. The software also helps physicians in tracking and monitoring the progress as well as formulation of these plans according to real-time patient specific data.
Application Insights:
The hospital segment dominated the market in 2017 and is expected to maintain its dominance over the forecast period. The hospital segment includes clinics and hospitals. Technological advancements have enabled AI software for diagnosis of diseases, which has resulted in increased adoption of such software by hospitals across the globe. For instance, a research study published in December 2017 used an artificial intelligence tool to analyze data from more than 30 million patients who had undergone minimally invasive procedures at approximately 4,500 hospitals around the world between 2014 and 2016. The researchers used this information to develop an AI system that could identify patterns related with various diseases (such as cancer) based on patient symptoms recorded during medical imaging studies conducted before treatment began. Such initiatives are further driving market growth across all application segments within this sector over the coming years.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of players, increasing investments in R&D, and high adoption rate for advanced technologies. Moreover, growing demand for personalized medicine and big data analysis is expected to drive growth over the forecast period. Asia Pacific region is anticipated to witness lucrative growth during the forecast period owing to rising healthcare expenditure by governments as well as private organizations coupled with improving healthcare infrastructure in this region. Furthermore, increasing prevalence of chronic diseases such as cancer and diabetes are also contributing toward regional market growth. In addition, booming medical tourism industry due to availability of advanced treatments at affordable costs will boost demand further over the next eight years (from 2018 to 2030).
Growth Factors:
- Increasing demand for AI-based healthcare solutions from the healthcare sector to improve patient care and reduce costs.
- Growing number of AI startups focused on developing innovative healthcare solutions, which is expected to drive innovation in the AI Medicine Software market.
- Rising adoption of big data and analytics by hospitals and other medical institutions to improve decision-making process and treatment outcomes.
- Proliferation of connected devices and sensors that can collect health data, which will help in improving diagnosis accuracy through machine learning algorithms embedded in AI Medicine Software applications .
Scope Of The Report
Report Attributes
Report Details
Report Title
AI Medicine Software Market Research Report
By Type
Diagnosis Processes, Treatment Protocol Development, Drug Development, Personalized Medicine, Patient Monitoring and Care
By Application
Hospital, Laboratory, Others
By Companies
Enlitic, Atomwise, DeepMind, Babylon Health, Flatiron Health, Tempus Labs, Sophia Genetics, Recursion Pharmaceuticals, Synyi, Freenome, GNS Healthcare, Olive, Ada Health, Clarify Health Solutions, Sight Diagnostics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
146
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global AI Medicine Software Market Report Segments:
The global AI Medicine Software market is segmented on the basis of:
Types
Diagnosis Processes, Treatment Protocol Development, Drug Development, Personalized Medicine, Patient Monitoring and Care
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Laboratory, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Enlitic
- Atomwise
- DeepMind
- Babylon Health
- Flatiron Health
- Tempus Labs
- Sophia Genetics
- Recursion Pharmaceuticals
- Synyi
- Freenome
- GNS Healthcare
- Olive
- Ada Health
- Clarify Health Solutions
- Sight Diagnostics
Highlights of The AI Medicine Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Diagnosis Processes
- Treatment Protocol Development
- Drug Development
- Personalized Medicine
- Patient Monitoring and Care
- By Application:
- Hospital
- Laboratory
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the AI Medicine Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
AI Medicine Software is a software application that automates the process of medical decision-making by providing physicians with recommendations for treatment plans and care. AI Medicine Software can be used to help physicians make informed decisions about patient care, including diagnosis, treatment planning, and follow-up care.
Some of the key players operating in the ai medicine software market are Enlitic, Atomwise, DeepMind, Babylon Health, Flatiron Health, Tempus Labs, Sophia Genetics, Recursion Pharmaceuticals, Synyi, Freenome, GNS Healthcare, Olive, Ada Health, Clarify Health Solutions, Sight Diagnostics.
The ai medicine software market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 AI Medicine Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 AI Medicine Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 AI Medicine Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the AI Medicine Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global AI Medicine Software Market Size & Forecast, 2018-2028
4.5.1 AI Medicine Software Market Size and Y-o-Y Growth
4.5.2 AI Medicine Software Market Absolute $ Opportunity
Chapter 5 Global AI Medicine Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 AI Medicine Software Market Size Forecast by Type
5.2.1 Diagnosis Processes
5.2.2 Treatment Protocol Development
5.2.3 Drug Development
5.2.4 Personalized Medicine
5.2.5 Patient Monitoring and Care
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global AI Medicine Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 AI Medicine Software Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Laboratory
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global AI Medicine Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 AI Medicine Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America AI Medicine Software Analysis and Forecast
9.1 Introduction
9.2 North America AI Medicine Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America AI Medicine Software Market Size Forecast by Type
9.6.1 Diagnosis Processes
9.6.2 Treatment Protocol Development
9.6.3 Drug Development
9.6.4 Personalized Medicine
9.6.5 Patient Monitoring and Care
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America AI Medicine Software Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Laboratory
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe AI Medicine Software Analysis and Forecast
10.1 Introduction
10.2 Europe AI Medicine Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe AI Medicine Software Market Size Forecast by Type
10.6.1 Diagnosis Processes
10.6.2 Treatment Protocol Development
10.6.3 Drug Development
10.6.4 Personalized Medicine
10.6.5 Patient Monitoring and Care
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe AI Medicine Software Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Laboratory
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific AI Medicine Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific AI Medicine Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific AI Medicine Software Market Size Forecast by Type
11.6.1 Diagnosis Processes
11.6.2 Treatment Protocol Development
11.6.3 Drug Development
11.6.4 Personalized Medicine
11.6.5 Patient Monitoring and Care
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific AI Medicine Software Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Laboratory
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America AI Medicine Software Analysis and Forecast
12.1 Introduction
12.2 Latin America AI Medicine Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America AI Medicine Software Market Size Forecast by Type
12.6.1 Diagnosis Processes
12.6.2 Treatment Protocol Development
12.6.3 Drug Development
12.6.4 Personalized Medicine
12.6.5 Patient Monitoring and Care
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America AI Medicine Software Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Laboratory
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) AI Medicine Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) AI Medicine Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) AI Medicine Software Market Size Forecast by Type
13.6.1 Diagnosis Processes
13.6.2 Treatment Protocol Development
13.6.3 Drug Development
13.6.4 Personalized Medicine
13.6.5 Patient Monitoring and Care
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) AI Medicine Software Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Laboratory
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 AI Medicine Software Market: Competitive Dashboard
14.2 Global AI Medicine Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Enlitic
14.3.2 Atomwise
14.3.3 DeepMind
14.3.4 Babylon Health
14.3.5 Flatiron Health
14.3.6 Tempus Labs
14.3.7 Sophia Genetics
14.3.8 Recursion Pharmaceuticals
14.3.9 Synyi
14.3.10 Freenome
14.3.11 GNS Healthcare
14.3.12 Olive
14.3.13 Ada Health
14.3.14 Clarify Health Solutions
14.3.15 Sight Diagnostics
