1. AI in Healthcare
Technologies are beginning to disrupt the way humans evolve. Amongst
several other areas there are a lot of exciting developments in healthcare
specifically related to human biology (gene editing, disease prediction and
resolution, customized medicines etc.), neurosciences and manufacturing,
new material development coupled with 3D printing.
The high growth of artificial intelligence market in healthcare is attributed to
factors such as rising funding in healthcare artificial intelligence, growing
demand of precision medicines, effective cost reduction in the healthcare
expenditure, and accurate & early diagnosis of the chronic diseases and
disorders.
However, reluctance in adopting AI technologies among the end users and
lack of trust & potential risks associated with AI in healthcare is restricting the
growth of this market to a certain extent. On the other hand, the ability of
artificial intelligence in healthcare to improve patient outcomes, the growing
potential of AI-based tools for geriatric patients, and high growth prospects in
emerging economies offer significant growth opportunity in this market.
2019 – 2025 Healthcare Artificial Intelligence Market to Grow at a Significant
CAGR of 40% and to Cross US$ 27 Billion with Global Leaders such as IBM,
Microsoft, Apple, SAP, Intel, Google and Others.
2019 Copyright FOCUS International
Asia becomes the New Local
Innovation Hub for Global
Drug and Device OEMs
2. 2019 AI Healthcare
trends
Top Profiling Players: – IBM, Microspft, Apple, SAP, Intel, Google, Salesforce,
Brighterion, Megvii Technology, Yseop, Ipsoft, Welltok and Others
Healthcare Artificial Intelligence market segmentation by Devices
• On-Premise
• Cloud-Based
Healthcare Artificial Intelligence Market Segmentation by Application
• Hospitals
• Ambulatory Surgery Centers
• Clinics
• Others
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Maximize AI and minimize risk
• Avoid regulatory and ethical issues
• Optimize AI through control and collaboration
• Create a robust AI quality assurance process
• Harness the power of AI to deliver real business value
Three major “zones of investment” for AI in healthcare:
•Digitization: Using AI or other digital tools to make operational processes less
expensive
•Engagement: Improving how patients and consumers interact with
healthcare providers, systems and services
•Diagnostics: Developing new products and services that use AI algorithms to
provide diagnoses or health advice to patients
Source: Frost & Sullivan
3. Accenture analyzed the AI applications
in healthcare in terms of estimated
potential annual benefits by application
by 2026
McKinsey examined ways that AI might create
more value in the business of healthcare systems
and services. It estimated these potential savings
at $269.4 billion annually, including:
Most Promising AI Healthcare Applications
Healthcare Services With Greatest Cost-Saving
Potential
Where AI Is Already Being Adopted In Healthcare
The total public and private
sector investment in
healthcare AI is stunning: All
told, it is expected to
reach $6.6 billion by 2021,
according to some estimates.
Even more staggering,
Accenture predicts that the
top AI applications may result
in annual savings of $150
billion by 2026.
AI Healthcare
Statistics
2019 Copyright FOCUS International
4. IoT in Healthcare
Global Healthcare IoT market by Component
Key Players Operated in Global Internet of Things (IoT) in Healthcare Market:
Koninklijke Philips N.V., IBM Corporation, Stanley Healthcare, GE Healthcare
(General Electric Company), Cisco Systems, Inc., Qualcomm Life, Inc., Proteus
Digital Health, Honeywell International Inc., SAP S.E., Medtronic plc.
Global internet of things (IoT) healthcare
market size is expected to reach $267.6
billion by 2023, according to P&S
Intelligence.
The market is mainly driven by the
growing need for remote patient
monitoring services, growing demand
for advanced healthcare information
systems, increasing prevalence of
chronic and lifestyle associated
diseases, growing demand for mHealth
technologies, and increasing support
from government organizations.
GLOBAL INTERNET OF THINGS
(IoT) HEALTHCARE MARKET
SEGMENTATION
Market Segmentation by Component
o Medical Devices
• Wearable External
• Implanted
• Stationary
o Systems and Software
• Remote Device Management
• Network Bandwidth Management
• Data Analytics
• Application Security
• Network Security
o Market Segmentation by Technology
• Wi-Fi
• BLE
• NFC
• ZigBee
• Cellular
• Satellite
o Market Segmentation by Application
Telemedicine
• Remote Patient Monitoring
• Store-and-Forward Telemedicine
• Interactive Telemedicine
Clinical Operations
Workflow Management
Connected Imaging
Inpatient Monitoring
Medication Management
Market Segmentation by End User
• Hospitals, Surgical Centers, and Clinics
• Clinical Research Organizations
• Research and Diagnostic Laboratories
Increasing demand for low-cost disease
management and treatment, the rising
prevalence of chronic diseases,
collaboration among companies
accompanied by opportunities like
development low-power wide-area
networks (LPWANs) and changing
mentality among consumers. However,
Data privacy and security and lack of
awareness among consumers in
developing regions might impede the
market growth.
2019 Copyright FOCUS International