Artificial intelligence in healthcare is one of the most promising technologies that have the potential to improve the health care system. Artificial intelligence in healthcare provides several benefits such as improved user experience, improved quality of care, reduced cost of care, disease management in real-time and improved patient outcome. The significant reason for integrating artificial intelligence features in medical devices is to enhance the quality and services of care for patients with chronic conditions. These days’ hospitals are implementing smart beds that are able to detect when a patient has left and when the beds are occupied. The major factors driving the artificial intelligence healthcare market are, increase in investment for healthcare, artificial intelligence solutions and rising penetration of connected devices in healthcare. However, increasing the adoption of telepresence technology and high potential in emerging economies is creating opportunities for the artificial intelligence healthcare market.
AI in healthcare could be understood as connected health such as remote health (such as homecare) disease lifestyle management used for leveraging existing cellular infrastructure and is associated with efforts to improve chronic care. A doctor can perform a complex operation sitting in a different country on a patient using a connected device integrated with artificial intelligence and complex and technical data can be transferred in real-time. This could help in making tough decisions with the help of AI cum Internet of Things, the future holds ‘n’ number of possibilities with the integration of connected devices which would make the saying true that ‘God is present everywhere’. This is the potential of artificial intelligence in healthcare with North America being the flag bearer for the global flagship healthcare service called artificial intelligence.
North America is supposed to the main market that is matured enough to make the market lucrative enough monetarily in the AI in the healthcare market. Moreover, there is a large amount of spending in healthcare IT by the United States of America and Canada for the management of chronic diseases and an increase in investments and government initiatives in the healthcare sector which is driving the market in North America. Countries in the Asia-Pacific like China, Japan, and South Korea have invested heavily in the AI in the healthcare market which is expected to record a significant growth due to various factors such as growing demand for quality healthcare are increasing focus towards safe, quality, and equitable healthcare services in a cost-effective manner.
There has to be enough attention drawn to the key players of the artificial intelligence healthcare market globally which includes Medtronic PLC (the US), Cisco Systems, Inc. (the US), IBM Corporation (the US), Stanley Healthcare (the US), Qualcomm Life, Inc. (the US), SAP SE (Germany), Honeywell Life Care Solutions (the US). These key players are adopting various strategies such as mergers acquisitions, product launch, partnership and agreement to strengthen their position across the globe.
