Artificial Intelligence in Biomedical Market worth $21.40 billion by 2030 – Exclusive Report by 360iResearch
The Global Artificial Intelligence in Biomedical Market to grow from USD 3.83 billion in 2022 to USD 21.40 billion by 2030, at a CAGR of 23.99%.
PUNE, MAHARASHTRA, INDIA , November 14, 2023 /EINPresswire.com/ — The “Artificial Intelligence in Biomedical Market by Components (Hardware, Services, Software), Technology (Computer Vision, Context-Aware Computing, Machine Learning), Application, End-Users – Global Forecast 2023-2030″ report has been added to 360iResearch.com’s offering.
The Global Artificial Intelligence in Biomedical Market to grow from USD 3.83 billion in 2022 to USD 21.40 billion by 2030, at a CAGR of 23.99%.
Request a Free Sample Report @ https://www.360iresearch.com/library/intelligence/artificial-intelligence-in-biomedical?utm_source=einpresswire&utm_medium=referral&utm_campaign=sample
Artificial intelligence (AI) in the biomedical market refers to the application of machine learning algorithms, natural language processing, and computer vision techniques on large datasets generated by the biomedical sector. The increasing demand for personalized medicine necessitates advanced data analysis through AI for optimizing drug efficacy and reducing side effects. Rapid advancements in high-throughput technologies have led to an exponential increase in genomics & proteomics, requiring AI-driven analytics for accurate interpretation. Governments worldwide are taking initiatives to promote big data analytics and precision medicine. However, the high cost of implementing AI-powered biomedical solutions may adversely impact their use by the end-use sectors. Moreover, recent advancements in deep learning algorithms for predicting molecular interactions and ongoing research to expand applications of AI in biomedical are anticipated to propel the growth of artificial intelligence (AI) in the biomedical market globally.
Application: Extensive use in drug discovery & development
Artificial intelligence (AI) in clinical decision support systems helps physicians and healthcare providers streamline diagnosis and treatment options. AI algorithms aid in analyzing medical data, such as patient history, symptoms, and test results, to recommend evidence-based treatments tailored to individual patients. This application is essential for healthcare providers seeking to enhance diagnostic accuracy, optimize treatment plans, and improve patient outcomes while reducing the chances of misdiagnosis. Clinical trial coordinators and investigators increasingly use AI to accelerate study design, patient recruitment, data analysis, and regulatory approval processes. This application caters primarily to pharmaceutical companies aiming to expedite drug discovery processes by improving clinical trial management and monitoring efficiency. AI is revolutionizing drug discovery and development processes by speeding target identification, candidate optimization, and toxicity prediction. AI-powered genomic data analysis tools enable researchers to gain novel insights into human biology, leading to personalized medicine breakthroughs. AI is transforming medical imaging and radiology by enhancing the accuracy of image interpretation, automating processes, and reducing diagnostic errors. This application is vital for healthcare facilities aiming to optimize their imaging workflows and improve diagnostic accuracy by reducing human error.
Type: Significant penetration of AI-based biomedical software
Hardware is critical in providing the necessary computing power for AI algorithms to function efficiently in biomedical applications. Key hardware components include Graphical Processing Units (GPUs), Central Processing Units (CPUs), Application-Specific Integrated Circuits (ASICs), and Field-Programmable Gate Arrays (FPGAs). Need-based preference generally depends on the required performance, energy efficiency, and cost-effectiveness of the AI solution. AI-based biomedical services encompass a wide range of offerings that assist organizations in implementing AI-based solutions within biomedical applications effectively. These services include consulting, data management, algorithm development support, and system integration assistance. Software in AI biomedical applications consists of the algorithms and tools necessary to process, analyze, and interpret data. This can include machine learning frameworks, natural language processing (NLP) tools, and image recognition software. Preference for Software in AI biomedical applications depends on the project’s scope, the desired level of automation, and compatibility with existing IT infrastructure.
End-Users: Expanding applications of AI-based biomedical solutions in pharmaceutical companies
Biotechnology firms increasingly leverage artificial intelligence (AI) to discover novel therapeutic solutions and enhance drug development processes. AI allows biotech companies to analyze vast amounts of data, identify patterns, and predict treatment outcomes more effectively. Hospitals & diagnostic centers use AI-powered solutions for imaging analysis, patient monitoring, personalized medicine, and virtual health assistance. These technologies help improve diagnostic accuracy, reduce human errors, and streamline healthcare processes. Pharmaceutical companies employ AI solutions to expedite drug discovery pipelines and optimize clinical trials’ design and execution by identifying suitable candidates faster through predictive analytics techniques. Research institutions increasingly integrate AI technologies into their workflows, particularly in areas such as genomics, proteomics, and precision medicine. AI-powered tools enable researchers to process large-scale data, discover previously unknown biological correlations, and predict therapeutic outcomes more precisely. Biotechnology firms prioritize AI-driven drug discovery platforms; hospitals & diagnostic centers seek efficient diagnostics and patient monitoring; pharmaceutical companies aim to optimize R&D processes, while research institutions focus on harnessing advanced computational capabilities for novel discoveries.
Regional Insights:
Artificial Intelligence (AI) in the biomedical market is evolving in the Americas owing to the well-established healthcare infrastructure, significant investments in AI-driven biomedical research, and the surge in the adoption of natural language processing (NLP) techniques. The European Union is also heavily investing in AI applications for biomedicine and emphasizing on developing advanced deep-learning techniques to aid in tissue engineering and regenerative medicine. In the Middle East and Africa, there is growing interest in harnessing AI for healthcare innovation to improve healthcare accessibility in resource-constrained settings. The Asia-Pacific region, led by China, Japan, and India, is experiencing rapid AI adoption in the biomedical field with significant funding for AI-driven healthcare technologies and collaborations between academia and industry to develop innovative AI-powered healthcare solutions. Besides, cutting-edge patents and proliferating research activities are expected to enhance operational efficiency, encouraging their adoption by the end-use verticals globally.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Artificial Intelligence in Biomedical Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Artificial Intelligence in Biomedical Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Artificial Intelligence in Biomedical Market, highlighting leading vendors and their innovative profiles. These include AiCure, LLC, Arterys Inc., Aspen Technology Inc, Atomwise Inc, Augmedix, Inc., Behold.ai Technologies Limited, BenevolentAI SA, BioSymetrics Inc., BPGbio Inc., Butterfly Network, Inc., Caption Health, Inc. by GE Healthcare, Cloud Pharmaceuticals, Inc., CloudMedX Inc., Corti ApS, Cyclica Inc, Deargen Inc, Deep Genomics Incorporated, Euretos Services BV, Exscientia plc, Google, LLC by Alphabet, Inc., Insilico Medicine, Intel Corporation, International Business Machines Corporation, InveniAI LLC, Isomorphic Labs, Novo Nordisk A/S, Sanofi SA, Turbine Ltd., Viseven Europe OU, and XtalPi Inc..
Inquire Before Buying @ https://www.360iresearch.com/library/intelligence/artificial-intelligence-in-biomedical?utm_source=einpresswire&utm_medium=referral&utm_campaign=inquire
Market Segmentation & Coverage:
This research report categorizes the Artificial Intelligence in Biomedical Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Components, market is studied across Hardware, Services, and Software. The Hardware is projected to witness significant market share during forecast period.
Based on Technology, market is studied across Computer Vision, Context-Aware Computing, Machine Learning, Natural Language Processing, and Querying Method. The Machine Learning is projected to witness significant market share during forecast period.
Based on Application, market is studied across Clinical Decision Support, Clinical Trial Coordinators & Investigators, Drug Discovery & Development, Genomics & Personalized Medicine, and Medical Imaging & Radiology. The Clinical Trial Coordinators & Investigators is projected to witness significant market share during forecast period.
Based on End-Users, market is studied across Biotechnology Firms, Hospitals & Diagnostic Centers, Pharmaceutical Companies, and Research Institutions. The Research Institutions is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 41.09% in 2022, followed by Americas.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Artificial Intelligence in Biomedical Market, by Components
7. Artificial Intelligence in Biomedical Market, by Technology
8. Artificial Intelligence in Biomedical Market, by Application
9. Artificial Intelligence in Biomedical Market, by End-Users
10. Americas Artificial Intelligence in Biomedical Market
11. Asia-Pacific Artificial Intelligence in Biomedical Market
12. Europe, Middle East & Africa Artificial Intelligence in Biomedical Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Artificial Intelligence in Biomedical Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Artificial Intelligence in Biomedical Market?
3. What is the competitive strategic window for opportunities in the Artificial Intelligence in Biomedical Market?
4. What are the technology trends and regulatory frameworks in the Artificial Intelligence in Biomedical Market?
5. What is the market share of the leading vendors in the Artificial Intelligence in Biomedical Market?
6. What modes and strategic moves are considered suitable for entering the Artificial Intelligence in Biomedical Market?
Mr. Ketan Rohom
360iResearch
+ +1 530-264-8485
ketan@360iresearch.com
