The US AI in healthcare market is estimated to grow significantly at a CAGR of 50.2% during the forecast period. The factors that are contributing significantly to the market growth include R&D, and high expenditure by the government as well as a private organization in AI technology. The US and Canada are the major economies of North America. The region has well-developed information communication technology (ICT) and employs the adoption of a large number of connected devices.
The market is segmented on the basis of offering, end-user industry, and application. Based on offering, the market is divided into software & services and hardware. Based on the end-user industry, the market is segmented into hospitals & healthcare facilities, personal care, and biotechnology & pharmaceutical companies. Further, on the basis of application, the market is segmented into diagnosis, biomarker, virtual nursing assistance, remote monitoring of patients, drug discovery, and ai-enabled hospital care. Pfizer Inc. is one of the pharmaceutical companies that is using AI in drug discovery. The company has entered into a partnership with IBM Watson Health in December 2016, for accelerating drug discovery in immune oncology. It is an approach for the treatment of cancer by using immune system of the body to combat cancer.
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The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in January 2018, Microsoft and Adaptive Biotechnologies entered in partnership to map the genetics of the human immune system, which will enable to detect cancers and other diseases at the early stage. The partnership enables top merge the immune sequencing technology of Adaptive Biotechnologies with Microsoft’s research, machine learning and cloud computing capabilities which enables disease diagnostics.
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US AI in Healthcare Market -Segmentation
By Offering
• Hardware
• Software & Services
• US AI in Healthcare Market by End-User Industry
• Hospitals & Healthcare Facilities
• Biotechnology & Pharmaceutical Companies
By Application
• Diagnosis
• Biomarker
• Virtual Nursing Assistance
• Remote Monitoring of Patients
• Drug Discovery
• Ai-Enabled Hospital Care
Company Profiles
• 3Scan, Inc.
• Amazon.com, Inc.
• Apple Inc.
• Atomwise, Inc.
• Fitbit, Inc
• Google LLC
• IBM Corp.
• MedAware Systems, Inc.
• Microsoft Corp.
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