The CAGR of global artificial intelligence in healthcare is expected to grow at rate of 48% during 2018-2023.The driving force of global AI in healthcare is to get the better outcomes and the need to adopt the new technologies. AI in healthcare is also driven by investment across the globe. AI application in healthcare is expected to create USD 150 billion by 2026. Robot assisted surgery is estimated to the value of 40 billion USD. Virtual nursing assistants are estimated to the value of 20 billion USD.
What is Artificial Intelligence in healthcare?
Artificial Intelligence in healthcare is a concept to mimic the human brain and investigate the real medical problems and data with holistic human approach with the use of algorithms and software to find the best possible outcome. The Primary aim of AI is to find the best possible treatment or technique to deal with patient’s problem. In healthcare deep learning is becoming very important as software learns to recognize patters in distinct layers.
What are the applications of Artificial Intelligence in Healthcare?
Artificial Intelligence in healthcare is widely used for treatment design by analyzing the patient’s data. It is also used for managing medical reports and other data like past history, personal details etc. AI is big help in repetitive jobs like CT scans, X-rays, data entry etc. A digital nurse is designed to monitor the patient condition and follow up with treatment between visits and follow up of doctor. Digital nurses are more helpful because they have 24/7 access as well as have ability to give quick answers about medications. With the help of AI, body scans can spot cancer and vascular diseases early and predict the health issues people might face based on their genetics.AI is used for various other purpose also like health monitoring, drug discovery, market research, pregnancy management, brand management and marketing etc.
Market Research and Market Trends of Artificial Intelligence in Healthcare:
- One of the top leader in AI AliveCor invented the very first smartphone that is connected to electrocardiogram to capture the rhythms of heart on phone within 30 minutes so that they can check whether they should seek medical attention or not. Last year it recorded almost 20 million EKG’s. AliveCor is working to add more features to this like alarming signals in case of some irregular rhythms.
- John Hopkins Hospital in partnership with GE Healthcare Camden Group took initiative to improve patient care and efficiency via the adoption of hospital command centers equipped with predictive analytics. The strategy will help health care professionals to make quick and informed decisions for operational tasks like scheduling bed assignments and managing requests for unit assistance.
- Heart Lander — a miniature mobile robot can enter the chest through an incision below the sternum. It reduces the damage required to access the heart and allows the use of a single device for performing stable and localized sensing, mapping, and treatment over the entire surface of the heart. In addition to administering the therapy, the robot adheres to the epicardial surface of the heart and can autonomously navigate to the directed location.
- One of the startup Intelligent Medical Imaging, Inc. has designed the Micro21 microscopy workstation that integrates neural network technology into blood analysis to identify and display white blood cells as well as red blood cells.
Who are the Major Players in Artificial Intelligence in Healthcare Market?
The companies referred in the market research report are AliveCor, Pinterest, Jigsaw, Darktrace, Microsoft, NVidia and10 other companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.