AI Medicine Software Market Trends and Forecast
The future of the global AI medicine software market looks promising with opportunities in the hospital and laboratory markets. The global AI medicine software market is expected to grow with a CAGR of 33.5% from 2024 to 2030. The major drivers for this market are increase in demand for AI-driven diagnostics and personalized treatment recommendations, rising adoption of AI to improve efficiency in medical research, drug discovery, and clinical decision-making, and growth of big data in healthcare.
• Lucintel forecasts that diagnosis processes is expected to witness the highest growth over the forecast period.
• Within this market, hospital is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Medicine Software Market
• United States - IBM Watson Health partners with major hospitals to integrate AI for personalized cancer treatment plans. Government supports AI in healthcare with funding for AI-driven medical research and precision medicine initiatives.
• China - Tencent develops AI-based diagnostic tools for early disease detection. Government promotes AI in healthcare through national initiatives for AI application in medical diagnostics and treatment.
• United Kingdom - Babylon Health launches AI-powered symptom checker and telemedicine platform. Government targets AI adoption in NHS for improving patient care and operational efficiency.
• Israel - Zebra Medical Vision introduces AI software for automated analysis of medical imaging. Government supports AI startups in healthcare with grants and incentives for innovation in medical AI technology.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Medicine Software Market by Segment
The study includes a forecast for the global AI medicine software market by type, application, and region.
AI Medicine Software Market by Type [Value from 2018 to 2030]:
• Diagnosis Processes
• Treatment Protocol Development
• Drug Development
• Personalized Medicine
• Patient Monitoring & Care
AI Medicine Software Market by Application [Value from 2018 to 2030]:
• Hospital
• Laboratory
• Others
AI Medicine Software Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Medicine Software Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI medicine software companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI medicine software companies profiled in this report include-
• Atomwise
• Deepmind
• Babylon Health
• Flatiron Health
• Tempus Labs
• Sophia Genetics
• Recursion Pharmaceuticals
• Synyi
• Freenome
• Enlitic
Recent Development in the AI Medicine Software Market
• IBM Watson Health: IBM Watson Health develops AI-powered tools for personalized medicine, focusing on cancer treatment recommendations based on genomic data and patient history.
• DeepMind Health (owned by Google): DeepMind Health pioneers AI algorithms for medical image analysis and disease diagnosis, aiming to improve accuracy and efficiency in healthcare diagnostics.
• Babylon Health: Babylon Health expands AI-driven telemedicine services with symptom checker and virtual consultations, enhancing access to healthcare through mobile applications.
• Zebra Medical Vision: Zebra Medical Vision launches AI software for radiology, automating the analysis of medical imaging to assist radiologists in detecting abnormalities and diseases earlier.
Features of the Global AI Medicine Software Market
Market Size Estimates: AI medicine software market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI medicine software market size by type, application, and region in terms of value ($B).
Regional Analysis: AI medicine software market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI medicine software market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI medicine software market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI medicine software market?
Answer: The global AI medicine software market is expected to grow with a CAGR of 33.5% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI medicine software market?
Answer: The major drivers for this market are increase in demand for AI-driven diagnostics and personalized treatment recommendations, rising adoption of AI to improve efficiency in medical research, drug discovery, and clinical decision-making, and growth of big data in healthcare.
Q3. What are the major segments for AI medicine software market?
Answer: The future of the global AI medicine software market looks promising with opportunities in the hospital and laboratory markets.
Q4. Who are the key AI medicine software market companies?
Answer: Some of the key AI medicine software companies are as follows:
• Atomwise
• Deepmind
• Babylon Health
• Flatiron Health
• Tempus Labs
• Sophia Genetics
• Recursion Pharmaceuticals
• Synyi
• Freenome
• Enlitic
Q5. Which AI medicine software market segment will be the largest in future?
Answer: Lucintel forecasts that diagnosis processes is expected to witness the highest growth over the forecast period.
Q6. In AI medicine software market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI medicine software market by type (diagnosis processes, treatment protocol development, drug development, personalized medicine, and patient monitoring & care), application (hospital, laboratory, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Medicine Software Market Market, AI Medicine Software Market Market Size, AI Medicine Software Market Market Growth, AI Medicine Software Market Market Analysis, AI Medicine Software Market Market Report, AI Medicine Software Market Market Share, AI Medicine Software Market Market Trends, AI Medicine Software Market Market Forecast, AI Medicine Software Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.