APAC AI in Healthcare Market to Reach Around USD 11,733 Million in Terms of Revenue by 2025 Owing to Government Initiatives and Increasing Investments and Adoption of AI Technology in Healthcare in Developing Countries: Ken Research
GURUGRAM, India, Sept. 19, 2019 /PRNewswire/ --
- It is expected during 2019-2025, Deep Learning Method would grow at a CAGR of about 56.3% owing to factors such as increased application in technologies such as Google Assistant, Siri, Amazon Alexa and others. However, Natural Language Processing is expected to acquire half of the revenue generated by APAC AI in Healthcare Market.
- Human contact during surgery is expected to be removed or minimized as robotic surgeries will become capable to perform surgery with very less human assistance. However average cost of healthcare robot is not expected to decrease much. Therefore by 2025, Machine or Robot assisted medical procedures are expected to continue to acquire majority share in the market.
- Asia Pacific has been the fastest growing region in terms of developments and innovations with China and Japan being the leading players in the market. China is expected to continue to acquire highest market share in APAC by 2025 owing to factors such as continuous government initiatives for setup of research and development centers, development of AI infused hospital software applications, providing investment support to growing startups in AI Healthcare etc.
Market Overview: APAC AI in Healthcare Market will be facilitated by increasing awareness about application of artificial intelligence in healthcare which will further be complemented by supportive legislations and regulations. This would lead to the introduction of more regulated & validated health applications. When compared with other service sectors, a shortage of human resource is always seen in healthcare sector. This gap in demand and supply is expected to continue in future as well and thereby promoting the need for more adoption of automated functioning methods.
Advantage of AI Implementation: With help of AI, average workload of doctors, physicians, nurses and other support staff will reduce drastically which will help them to focus their services to patient care. However, going by current scenario, it is also seen that when, compared to demand for this technology applications, availability of talent in artificial intelligence development is also very less in the industry. This has motivated AI development companies to focus more on "right" talent thereby recruiting people having abilities to foster better research in the coming future.
Role of Government: Government initiatives in the field of setting up of research institutes, providing investment support to AI startups, government hospital collaborations with AI developers to develop AI infused hospitals, startup of AI specialization courses in medical colleges and others are expected to continue in future thereby supplementing the overall growth in APAC AI in Healthcare Market.
Analysts at Ken Research in their latest publication "APAC Healthcare AI Market Outlook to 2025 – By Applications (Machine/Robot Assisted Medical Procedures, Clinical Trial & Drug Discovery/Development, Preliminary Diagnosis, Administrative Workflow Assistance, Virtual Nursing Assistant, Fraud Detection, Dosage Error Reduction), by Countries, by End Users & by Technologies and Current Investment Scenario" believe that the market is expected to register positive CAGR of close to 54% in terms of revenue generated by Artificial Intelligence Providers in Healthcare during the forecasted period 2018-2025E.
Key Segments Covered in APAC AI in Healthcare Market
- By Technology(On the basis of Revenue)
- Deep Learning Method
- Querying Method
- Natural Language Processing
- Context Aware Processing
- By Application (On the basis of Revenue)
- Machine/Robot Assisted Medical Procedures
- Clinical Trial & Drug Discovery/Development
- Preliminary Diagnosis
- Administrative Workflow Assistance
- Virtual Nursing Assistant
- Fraud Detection
- Dosage Error Reduction
- Others (including Fitness & Wellness Tech (Physical Fitness, Mind & Body Wellness)
- By End Users (On the basis of Revenue)
- Hospitals/Clinics/Healthcare Providers
- Medical Devices Companies
- Pharmaceuticals & Biotechnology Companies
- Others Including Payers and Other Software Providers
- By Country (On the basis of Revenue)
- Japan
- China
- Australia
- India
- Singapore
- Rest of APAC
Key Target Audience
- Hospitals, Clinics and Healthcare Providers
- Medical Device Manufacturers
- Insurance Providers
- AI Developers
- Healthcare Software Providers
- Pharmaceuticals & Biotechnology Companies
- Research Institutes
- Venture Capital Firms
- Government and Regulatory Bodies
Time Period Captured in the Report:
- Historical Period – 2013-2018
- Forecast Period – 2019-2025
Companies Covered:
- IBM
- NVIDIA Corporation
- Intel
- Microsoft Corporation
- iCarbonX
- Alphabet Inc.
- Next IT Verint Corporation
- Welltok Incorporation
- Oncora Medical
- Entilic Incorporation
- Koninklijke Philips
- General Vision
For more information on the market research report please refer to the link below:
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