As AI creates its influence across multiple industries, one of its most powerful influences will be democratizing precision medicine. Precision medicine is a traditional term with a definition similar to personalized medication.
Utilizing a patient's genetic background, geographic location, environmental circumstances, lifestyle, and dietary preferences, precision medicine develops a treatment strategy. Precision medical issues, such as precise disease diagnosis, disease detection and prognosis, and treatment optimization, have been effectively tackled using artificial intelligence. Therefore, the growth of artificial intelligence in precision medicine market size is boosting.
Major Growth Driving Factors
Top Report Findings:
Artificial Intelligence in Precision Medicine Market Trends
Segment Review
The Deep Learning Segment Holds the Greatest Market Share
The deep learning market is anticipated to grow during the forecasted period. The market segment's expansion can be ascribed to the quick development of data center capabilities, improved capacity for automating processes, and relatively high processing power compared to other markets. Moreover, the recent deep learning algorithms make it simple to combine and model various data from a particular patient across several modalities and time, entitling better predictions and suggesting particular treatments for each patient.
Neurology Segment is Anticipated to Increase at the Fastest Rate
Due to the rapid increase in neurological disorders like epilepsy, migraines, dementia, brain tumors, and Alzheimer's, as well as the increasing demand and penetration for the early detection of these occurring diseases around the world, the neurology segment is predicted to experience the highest growth rate over the coming years. For instance, our research shows more than 65 million people globally suffer from epilepsy, or roughly 1.2 percent of the US population, or close to 3.4 million people.
Geographical Analysis
Europe: Due to the consistently rising need and prevalence for advanced diagnostics, improved understanding, and early disease detection, artificial intelligence in precision medicine market in Europe is expected to experience the quickest growth during the projection period. Healthcare professionals are encouraged and drawn to use these types of cutting-edge technologies due to the growing significance of AI's function in assessing patients' conditions and their progression through various phases of sickness, driving market expansion in the region.
North America: Due to the region's high consumer spending power on their health and well-being, rapid growth in investment associated with research and development-related activities, presence of a strong healthcare infrastructure in nations like the United States and Canada, and dominance in the market for artificial intelligence in precision medicine in 2022, North America is predicted to continue to lead throughout the study period. Additionally, the existence of numerous well-known AI software and system suppliers and increased government initiatives to encourage the use of AI by start-ups will speed up industry expansion.
Recent Developments
Frequently Asked Questions
By Technology
By Component
By Therapeutic Application
By Region
Deep-dive Insights on Artificial Intelligence in Precision Medicine Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/artificial-intelligence-in-precision-medicine-market/request-for-sample