Artificial intelligence in healthcare is the use of machine-learning algorithms and software to analyze, process and present complex medical and health care data. It has been widely used to support clinical decisions, improve workflows and predict health outcomes. Thus, wide application of AI in the healthcare sector is likely to propel the growth of the market.
Market leaders operating in the market have undertaken various organic growth strategies in the artificial intelligence in healthcare market. The artificial intelligence in healthcare market majorly consists of the players such Microsoft, Koninklijke Philips N.V., Intel Corporation, General Electric, Alphabet Inc., NVIDIA CORPORATION, Nuance Communications, Inc., Siemens Healthineers AG, Arterys Inc., and Johnson and Johnson Services, Inc. among others. amongst others. Several organic approaches, such as product launches, and expansion in the artificial intelligence in healthcare market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.
NVIDIA CORPORATION and Microsoft -Notable Market Players in Artificial Intelligence in Healthcare Market
The artificial intelligence in healthcare market is expected to witness substantial growth post-pandemic. The global healthcare infrastructure has observed that, in order to develop and maintain sustainable healthcare setup, utilization of computational technologies such as artificial intelligence becomes crucial. Moreover, majority of the market players have focused on development of AI-powered models to fight against coronavirus pandemic. In addition, several number of research centers and governments have actively participated in the building of robust AI technologies which are assisting the healthcare professionals to work efficiently even under shortage of resources. These factors will eventually drive the market growth.
Below is the list of the growth strategies done by the players operating in the artificial intelligence in healthcare market:
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Year |
News |
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April 2019 |
MaxQ AI’s Accipio intracranial hemorrhage (ICH), stroke, and head trauma platform will be integrated into GE Healthcare’s Edison Open AI Orchestrator, which is designed to simplify the deployment of AI for imaging workflows. |
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Aug-2019 |
Wipro has partnered with Intel to launch three edge-based artificial intelligence (AI) solutions for the energy, utilities and healthcare sector. |
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Oct-2019 |
Humana and Microsoft partnered to build predictive and personalized health care solutions to help members manage health issues using Microsoft’s Azure cloud, Azure artificial intelligence and voice technologies. |
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Nov-2020 |
Google Cloud launched two artificial intelligence tools Healthcare Natural Language API and AutoML Entity Extraction for Healthcare, that are designed to help healthcare and life science organizations scan and analyze large volumes of unstructured text. |
