China AI in Healthcare Market Size, Share, Price, Trends, Growth, Analysis, Outlook, Report, Forecast 2023-2028

The China AI in Healthcare Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global China AI in Healthcare market. This report explores all the key factors affecting the growth of the global China AI in Healthcare market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Overview

The China AI in Healthcare market was valued at USD 0.07 billion and is expected to grow significantly at a compound annual growth rate (CAGR) of 52.8% from 2020 to 2028.

Artificial Intelligence has made life easier in all aspects. Healthcare is not an exception. Advances in medicine, supported by progress in public health, research, innovation and technology have significantly reduced morbidity and mortality. The healthcare sector is developing rapidly by making use of Artificial Intelligence to increase productivity while reducing the huge burden on healthcare workers.

AI has various applications in healthcare. It enables medical practitioners to retrieve information, interpret images acquired during scans and make treatment plans for the medical procedures. In addition to the clinical aspect, Artificial Intelligence is also proving beneficial in research activities. Globally, government and private organizations are initiating the incorporation of Artificial Intelligence in their research endeavours to accelerate developments surrounding COVID-19 vaccines.

AI has gained significant traction during the pandemic from combining scientific papers on coronaviruses to searching CT scans for COVID-19 symptoms. Even amid economic uncertainties due to COVID-19, Healthcare AI companies have gained numerous opportunities to thrive upon owing to the reason that they minimize human interaction, thus minimising the risk of transmission and shielding the frontline workers.

Chinese AI companies are highly concentrated in Beijing, Shanghai and Guangdong. Among the worlds top 20 cities in terms of AI companies hosted, Beijing ranks first with 395 companies, and Shanghai, Shenzhen and Hangzhou are also among the top 20. China's market has both medium and long-term potential due to its large market size, aging population, fluctuating disease profile and rapidly improving life.

China is the biggest market for Artificial Intelligence, irrespective of the agenda. AI health market in China was about 20 billion RMB in 2018, a 53% increase over 2017, and investment in AI in the healthcare industry in China is ranked as No. 1 in the world.

The countryis expected acquire highest market share in APAC by 2025 owing to factors such as continuous government initiatives for setup of research and development centres, development of AI infused hospital software applications and providing investment support to growing start-ups. Chinas healthcare AI boom is also strongly supported by the central government that aims for China to become the worlds leading AI innovation centre by 2030.

Market Drivers

Concrete government measures to accelerate AI development fuels the market growth in China. Rising population and increased availability of large amount of healthcare data drives the market inculcating the need to implement Artificial Intelligence for better healthcare delivery. In addition to this, there is a rise in need to reduce healthcare costs at the same time, increase computing power by minimising hardware costs.

There is an imbalance between the healthcare workforce and the patients. Artificial Intelligence restores this balance, further fuelling the market growth. Increased funding for Research and Development in the field contributes to the growth of the market. It is also driven by the ongoing COVID-19 pandemic.

Type of Artificial Intelligence in Healthcare

The AI technologies that play an important role in healthcare are as follows:

Machine learning neural networks and deep learning
Natural language processing
Rule-based expert systems
Physical robots
Robotic process automation

The most common form of AI is Machine Learning which is a statistical technique for fitting models to data and to learn by training models with data.

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Market Segmentation

By Product:

China AI in Healthcare market is segmented into AI integrated Hardware, Software and Services.

AI integrated Hardware includes Processor, Memory and Network.

Software includes on-premises and cloud solutions along with an AI platform which houses the machine learning framework and the Application Program Interface.

Services include Deployment and Integration of AI hardware and software solutions, Support and Maintenance.

By technology:

Based on the technology used, the China AI in Healthcare market is segmented into Machine Learning, Natural Language Processing, Context Aware Computing and Computer Vision.

Machine Learning has further types like Deep Learning, Supervised Learning, Reinforcement Learning, Unsupervised Learning and others. Imaging and diagnostics, and drug discovery are among the applications that use deep learning. It is also used to automate data analysis to deal with large volumes of data.

Natural Language Processing is widely used by clinical and research community in healthcare to develop and manage semi-structured and unstructured textual documents, such as electronics health reports, pathology reports, and clinical notes. The demand has risen with increase in number of healthcare institutions structuring and interpreting their data more accurately.

Context Aware Computing has seen a boom after the development of sophisticated hard and soft sensors.

Computer Vision has been responsible for significant contributions to the fields of surgery and therapy. This offers precise diagnoses, minimising false positives. Computer vision algorithms are trained to utilise huge amounts of data to detect the presence of a condition which the human doctors might miss owing to their sensory limitations.

By End-Use Application:

Based on the end use application, the market is segmented into patient data and risk analysis, Inpatient care and hospital management, medical imaging and diagnostics, Lifestyle management and remote patient monitoring, Virtual Assistants, Drug discovery, Research, Healthcare Assistance Robots, Precision medicine, Emergency room and surgery, Wearables, Mental Health and Cybersecurity.

Patient risk algorithms consider several variables and express the results as the percentage risk of developing a major fatal or nonfatal disease in the coming years. They offer solutions that can provide predictive insights into patient health using machine learning and natural language processing algorithms.

AI and machine-learning methods have the potential to improve the quality and lower the cost of patient care through Clinical Decision Support Systems.

Healthcare AI start-ups work in the field of Imaging and Diagnostics generating a large volume of challenging data which is simplified with extraction of insights using machine learning.

The AI enterprises in United State cover a variety of fields in the medical care system, while in China, AI enterprises have been mostly working on medical imaging due to the rapid growth of clinical demands, the imbalanced distribution of high-quality healthcare resources and the lack of medical imaging doctors around the country.

iCarbonX is a Shenzhen, China-based that offers an application development platform, which can help software developers at healthcare businesses create health monitoring apps using machine learning.

12 Sigma Technologies, a Chinese company with 21 employees and offices in San Diego offers medical data analysis software, which can help hospitals and physicians make medical diagnoses using deep learning.

VoxelCloud , a Los Angeles-based company with offices in Shanghai and Suzhou offers a medical image analysis software, which can help physicians make more accurate clinical decisions using computer vision.

Huiyihuiying, Imsight, 12Sigma, YiTu, VoxelCloud, DianNei and Dexhin are some of the best Chinese Ai Medical Imaging companies. Huiyihuiying is a company that specialises in imaging lung cancer and stages and is successful to contribute to 45,000 case examinations in a day.

Companies like XtalPi, Deep Intelligent Pharma, ForceCloud, LinkDoc, GigaCeuticals, and Accutar Biotechnology focus on AI supported drug development endeavours.

Companies like Dnurse, Intellchildcare, iCarbonX deal with AI supported health management systems.

By End User:

Based on the end user, the China AI in Healthcare market is segmented into the following:

Hospitals and healthcare providers, where AI is used to predict and prevent readmissions and improve operations of hospitals. Ambulance equipped with AI and big data is being used in the eastern Chinese city of Hangzhou. This system is part of a trial by a Chinese tech giant, Alibaba Group Holding Ltd.

Patients, where smartphone applications and wearables are targeted to promote the adoption of AI.

Pharmaceuticals and Biotechnological companies, where drug discovery, precision medicine and research are targeted to drive the use of AI.

Healthcare Payers, where AI is promoted for use in managing risks, identifying claims, trends and for maximising payment accuracy.

Others that include patient data, risk analysis etc.

Top 5 Major Players

IBM Corporation, NVIDIA Corporation, Microsoft and Intel Corporation, iCarbonx are the major players in China's AI market.

At AMIA 2020, IBM showcased its work related to AI in Healthcare through injection of clinical knowledge and by incorporating an adaptive healthcare system. One such example is Watson for Drug Discovery from IBM Watson Health is a platform that mines text and data in medical literature to identify, assess, and rigorously formalize the relationships among genes, diseases, and drugs to help researchers uncover potential new therapies and find new uses for existing medicines.

NVIDIA develops GPUs and delivers value to its consumers through PC, mobile, and cloud architecture. NVIDIA's partnership with GSK's AI powered lab for the discovery of new medicines and vaccines is done on the basis of its expertise in GPU optimization and high-performance computational pipeline development along with its significant contributions to the field through NVIDIA Clara Discovery, NVIDIA DGX A100 systems and so on.

Microsoft is focused on transforming patient care with AI powered solutions for physicians, radiologists and hospitals.  Microsoft is a global leader offering intelligent tools and solutions that empower clinical and operational efficiency and save costs. Azure Synapse Analytics, Azure Health GitHub Repo, Microsoft Healthcare bot, Azure API for FHIR, Azure AI and ML and Azure IoT for Healthcare are scalable platforms that bring conversational AI to healthcare. Yammer (US), Mojang AB (Sweden), StorSimple (US), and Xamarin (US) are among the subsidiaries of Microsoft.

Intel Corporation has contributed its significant share to the field of AI by transforming frontline medical care and improving patient experience for a few of their clients.  Intel's technology innovations are enabling the healthcare sector with data-driven insights and artificial intelligence by introducing various tools and solutions to simplify AI deployment in healthcare.

Healthcare Policies and Regulatory Landscape

Recent times have witnessed numerous advancements in the field of healthcare dedicating their successes to Artificial Intelligence. In the last ten years, there has been requirements and guidance for software manufacturers to demonstrate compliance to medical device regulations and to place their products on the market.

China's AI policy mainly focuses on six categories: "made in China", innovation-driven development, IoT, Internet+, big data, and scientific and technological R&D.

In September 2018, the National Health Commission (NHC) released Measures for the Administration of Internet Diagnosis and Treatment (For Trial Implementation), Measures for the Administration of Internet Hospital (For Trial Implementation) and Specifications for the Administration of Remote Medical Services (For Trial Implementation). According to this, the medical institutions could ask their own registered doctors to provide "Internet plus" family doctor signing services for some common diseases and follow up consultations for chronic diseases by using internet and other information technologies.

China implemented a smart medical service grading system for the development of "smart hospitals," on March 2019. A "smart hospital" features information-based service systems including a database of patients' medical records, a registration system, a hospital navigation system and a logistics management system. By introducing the grading system, hospitals will have a better idea about their advantages and shortcomings, giving them the ability to better allocate their resources in building themselves into "smart hospitals,"

In parallel to these efforts at the national level, cities throughout China have started to develop and release their own plans and policies for AI, including Beijing, Shanghai, Hangzhou, Zhejiang, and Tianjin etc.

Beijing plans to build a 13.8 billion RMB ($2.12 billion) AI development park that could host up to 400 AI enterprises. Shanghai plans to establish a special fund, with a target size of 10 billion RMB in the first phase, to invest in AI development. Hangzhou has launched its own AI park, along with a fund that will invest 10 billion RMB in it.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global China AI in Healthcare Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global China AI in Healthcare Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the China AI in Healthcare market
Chapter 2: Exclusive Summary - the basic information of the China AI in Healthcare Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the China AI in Healthcare
Chapter 4: Presenting the China AI in Healthcare Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the China AI in Healthcare market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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