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Browse in-depth TOC on"AI in healthcare Market"

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The services segment is projected to foresee highest CAGR during the forecast period

AI is a complex method as it requires the implementation of sophisticated algorithms for a wide range of applications in patient data and risk analysis, lifestyle management and monitoring, precision medicine, inpatient care and hospital management, medical imaging and diagnostics, drug discovery, and virtual assistants, among others. Hence, for the successful deployment of AI, there is a need for deployment and integration, and support and maintenance services. Big technology companies such as Microsoft (US), and Google (US) are providing cloud services for AI in healthcare applications.

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Machine learning technology to hold largest size of AIin healthcare market during the forecast period

ML is being implemented in healthcare to deal with large volumes of data, where the time previously dedicated to poring over charts and spreadsheets is now being used to seek intelligent ways to automate data analysis. It is used to streamline administrative processes in hospitals, map and treat infectious diseases, and personalize medical treatments. Machine learning includes various technologies, such as deep learning, supervised learning, unsupervised learning, and reinforcement learning.

The key players operating in the artificial intelligence in healthcare market

Europe region is expected to create high market opportunity in artificial intelligence in healthcare market during the forecast period.

The major factors driving the growth of the market in the region include the surging adoption of AI-based tools in R&D for drug discovery, favorable government initiatives to encourage technological developments in the field of AI and robotics, growing EMR adoption leading to the generation of large volumes of patient data, increasing venture capital funding, rising healthcare expenditure, and growing geriatric population.

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Artificial Intelligence in Healthcare Market worth $67.4 billion by 2027 - Exclusive Report by MarketsandMarkets - PR Newswire UK