The Europe artificial intelligence in healthcare market is projected to record growth, recording a CAGR of 35.45% during the forecast period, 2020-2028. There is increasing use of big data in healthcare by the biotechnology and pharmaceutical companies for integrating huge amounts of medical research and development data into the medical databases. This is the primary factor driving the growth of the market in the region.
The countries analyzed for market growth in the Europe artificial intelligence in healthcare market are the United Kingdom, Poland, Belgium, Russia, France, Germany, Italy, and the rest of Europe. In the UK, the growing importance of precision medicine and the rising use of big data in healthcare industry, are the key drivers of market growth. The pharmaceutical companies in the region have been gathering a considerable amount of research and development related data in medical databases. The UK government is collecting healthcare information form healthcare organizations like hospitals and clinics. The increasing healthcare expenditure has led to the deployment of big data. The healthcare providers in the UK are implementing AI in healthcare for analyzing the conditions of the patients, along with the systematic analysis of clinical data, so as to make optimal and cost-effective decisions regarding the treatment of patients. The big data tools in healthcare provide a unit-price discount facility that is based on contracting and negotiating leverage. AI is also used in genomic data analysis for the precise delivery of precision medicine. Precision medicine research aids the doctors in deploying the genetic and other molecular details of patients for predicting the best and cost-effective treatment.
Some of the renowned registering their presence in the market are, NVidia Corporation, Microsoft Corporation, Oncora Medical, Intel Corporation, Next It Corporation, ICarbonX, etc.
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