Press Release Description

Growing Need to tackle Complex Medical Data for Quick Drug Discovery, Clinical Trials, etc., to Boost Global Artificial Intelligence in Precision Medicine Market

Market Overview
Precision medicine is a healthcare conduit that employs several technologies to guide individually tailored diagnosis and treatment for patients. The disposal of technologies, consisting of high-performance computing (HPC), as well as large biological datasets, are critical for the implementation of a precision medicine pathway that has the power to influence healthcare. Artificial intelligence algorithms use learning strategies to input data in a mandate to be able to forecast from future datasets based on sorting or pattern recognition to (multi-dimensional). This may involve using results of pathological specimens to predict diagnosis and staging for the pathological specimen received on a new patient in clinical medicine. Also, the expansion of medical artificial intelligence has been associated with the development of AI programs planned to help clinicians in the creation of a diagnosis, the making of therapeutic decisions, and the prediction of outcomes. According to MarkNtel Advisors’ research report “Global AI in Precision Medicine Market Analysis, 2020”, the Global AI in Precision Medicine market is anticipated to grow at a CAGR of around 50% during 2020-25. 

The key growth drivers for the usage of AI in precision medicine are upcoming startups that are leveraging ML algorithms to help resolve key glitches such as plunging time and error costs in the drug discovery process, providing virtual assistance to patients and improving the accuracy of diagnosis with medical imaging and diagnostic procedures. 

North America Accounted for the Largest Market Share
North America is considered to attain the largest market size in 2025 owing to the availability of capital investments and intensification in the adoption of AI technology in the region and the evolving competitive landscape driven by innovation.

Integration of Artificial Intelligence in Neurological Discarders

The integration of AI with the diagnosis of diverse diseases is gaining momentum. With the help of AI conducting exome or genome sequencing for new-born babies at high risk of genetic abnormality is common now. Thus, the detection of neurological disorders through AI is speeding at a robust rate. Multiple sequencing consortiums focusing on NDDs were also started some years back aiming at identifying disease-implicated variants. Therefore, the neurosciences segment grabbed the highest market share in 2019 and the dominance is expected to prevail throughout the forecast period as revealed by the MarkNtel Advisors’ research report “Global AI in Precision Medicine Market Analysis, 2020”.  

According to MarkNtel Advisors’, the key players with a considerable market share in the Global AI in 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. For instance, in 2019, Jiangsu Hansoh Pharmaceutical Group and Atomwise join forces to discover and design potential drug candidates for 11 undisclosed target proteins in numerous therapeutic areas comprising cancer.

“Global AI in Precision Medicine Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for AI in Precision Medicine providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings. 

Market Segmentation:
1.    By End-User (Neurosciences, Oncology, Immunology, Respiratory, Others), 
2.    By Technology (Deep Learning, Querying Method, Natural language processing, Context aware processing), 
3.    By Application (Drug Discovery, Personalized Medicine, Clinical Research Trial, Others), 
4.    By Type (Hardware, Software, Service), 
5.    By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia), 
6.    By Company (BioXcel Corporation, Alphabet Inc., Berg Health, General Vision, IBM Corporation, Microsoft Corporation, Intel Corporation, Enlitic Inc., General Vision, Nvidia Corporation, etc.)

Key questions answered in the study:
1.    What are the current and future market trends of the AI in Precision Medicine industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for the AI in Precision Medicine industry?
5.    What are the customer orientation, purchase behavior, and expectations from the AI in Precision Medicine firms across various regions?