Healthcare AI Market

txt


A report on the rapid growth of the Healthcare AI market.


Healthcare’s AI Market to hit $6.6 bn by 2021, says Accenture

The projected 1000% increase in the healthcare AI market from 2014 to 2021 is driven by factors like greater consumer acceptance, change in healthcare models and rapid increase in investments.

Introduction

A new Accenture report, which looked at investments, revenue growth and acquisitions in the AI space, predicts that the healthcare AI market will reach $6.6 billion by 2021 from just $600 million in 2014.

Key trends

  • The rapid growth is driven by factors like the move to population health, and greater acceptance of machines in healthcare delivery by consumers, driven by experiences in other services.

  • Accenture’s survey of over 3000 consumers shows that one in five US patients have already used AI-powered healthcare services, like robots, virtual clinicians, and home-based diagnostics.

  • In keeping with the move in the wider healthcare industry from volume of care to value-based models, business and venture funds are funding development of products and systems based on AI.
    Examples: Use of AI by Anthem and Cigna to curtail opioid addiction; funding by Optum Ventures of the startup Buoy Health that has developed an AI-powered digital health assistant that helps patients better understand symptoms and advises on next steps.

  • Regulators are stepping up approvals of AI systems and related products.
    Example: Approval of three of the seven robotics products developed by Bionik Laboratories, a venture whose solutions have been used for treating neurological disorders in over 200 hospitals in 20 countries.

The future of AI in healthcare

According to Bionik’s CEO, Eric Dusseux, there will be a steady evolution of AI both in the medical industry and beyond. Humans have long relied on technology to improve efficiency, productivity and process quality. Innovations like AI, machine learning and brain-computer interfaces will encourage continued use of technology in the medical space to further optimize patient treatment and care.

 


Leave A Comment

Discover, Learn and Evaluate AI Companies and Solutions

Save content to your library

Save case studies, articles, blog posts and more. Curate your research library with content directly from AI companies.

Login with LinkedIn Login with Twitter

Sign in with Email

The latest updates from AI companies in your industry

Get a weekly newsletter with the latest posts directly from the AI companies. Follow companies to tailor your feed.

LATEST | POPULAR
DEMAND FORECASTING

Experience the leading AI demand forecasting platform.

IMAGE ANNOTATION

Get your image labeled efficiently and cost-effectively.

SPELL - HYPERPARAMETER SEARCHES

Optimize hyperparameters to improve the accuracy of your model with the Spell Hyper command

SPELL - JUPYTER NOTEBOOK SERVER - GPU POWERED

Collaborative Jupyter Notebook or JupyterLab workspace server with powerful GPUs

SPELL - DEEP LEARNING PLATFORM

The fastest and most powerful end-to-end platform for machine learning and deep learning.

Make sure your business and career keeps up with the changing world.
Sign up