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Nov 19, 2020 (Market Insight Reports) —
Selbyville, Delaware Recently, Market Study Report, LLC, added a research on the ‘Artificial Intelligence (AI) in Precision Medicine market’ which encompasses significant inputs with respect to market share, market size, regional landscape, contributing players, and revenue projection of this industry vertical. The report also educates investors regarding the existing tends, prime challenges, and current expansion strategies applied by the key organizations that constitute the hyperactive competitive gamut of this business sphere.
Machine learning (ML), deep learning and artificial intelligence (AI) are gaining momentum in biomedicine. The primary goal is to recognize the future needs and trends and identify the requirements of AI and ML in precision health. According to Research report a??Global Artificial Intelligence (AI) in Precision Medicine Market Analysis, 2020a??, the Global AI in Precision Medicine market is anticipated to grow at a CAGR of around 50% during 2020-25. Machine learning algorithms are used in healthcare institutions to draw a large amount of patient data using genomic sequences. In addition, Artificial intelligence helps the companies to catalyse the drug development process and diminish in costs.
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Global Artificial Intelligence (AI) in Precision Medicine Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Global Artificial Intelligence (AI) in Precision Medicine market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
AI Used in Drug Discovery Escalating the Natural Language Segment
In 2019, the natural language segment captured the highest market share in 2019. The primary factor for the growth of the segment is the constant use of technology in applications such as drug discovery and clinical trial identification.
Software Segment Bagged the Highest Growth
Based on type, the software segment registered the highest growth in 2019 as compared to the hardware and service segments in 2019. The major factor for the growth of the software segment is due to the continuous innovation in software with the evolving requirement in medicine. Moreover, the hardware segment is anticipated to foster a propelled demand through 2025 as revealed by the Research report a??Global Artificial Intelligence (AI) in Precision Medicine Market Analysis, 2020a??.
Collaboration of Companies for Innovation in Precision Medicine
According to Researchthe key players with a considerable market share in the Global AI in the Precision Medicine market include BioXcel Corporation, Alphabet Inc., Berg Health, General Vision, IBM Corporation, Microsoft Corporation, Intel Corporation, Enlitic Inc., General Vision, Nvidia Corporation, etc. Government organizations are investing heavily in AI companies resulting in the escalation of the research work. Besides, the snowballing importance in the field of precision medicine is luring opportunities in cross-industry collaboration and an influx of venture capital investments.
With the rising number of companies of artificial intelligence, the usage of AI in precision medicine is augmenting. For