APAC AI in Healthcare Market 2023 Share, Size, Key Players, Revenue Analysis | Prudent Markets

The APAC 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 APAC AI in Healthcare market. This report explores all the key factors affecting the growth of the global APAC AI in Healthcare market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Overview

The Asia Pacific AI in Healthcare market size is expected to grow significantly at a compound annual growth rate (CAGR) of 52.3% 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.

The 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 the biggest market for Artificial Intelligence, irrespective of the agenda. Chinais 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.

The APAC region has a potential market owing to the big pharmaceutical companies in life science research harbouring innovative methods. The medical market potential of India is vast, offering innumerable opportunities to Japan to bring about new changes that would assist the people to get access to healthcare. Japanese companies are tapping into this potential through funding and technological solutions to revolutionize healthcare in India.

Market Drivers

Concrete government measures to accelerate AI development fuels the market growth in China. AI application to expedite drug discovery boosts the market in Japan. Quality healthcare services and rapid expansion of medical insurance coverage motivates the market growth in South Korea. Developing IT infrastructure and AI-friendly government initiatives support the growth of AI in healthcare market in India.

The existence of large troves of data in the form of images such as CAT scans and radiographs and the advancement in image recognition technology have fuelled the increase in AI adoption across Asian healthcare companies. 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:

APAC 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 Asia Pacific 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.

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.

In China, the National Medical Products Administration has produced a guideline for aided decision-making medical device software using deep learning techniques.

Japanese and South Korean regulatory bodies have also published guidance for AI in healthcare.
Highlighted Segments of APAC AI in Healthcare Market:

Industry Overview: The first section of the research study covers an overview of the global APAC AI in Healthcare Market, market status and prospects, and product range. In addition, it provides highlights of the major segments of the global Market, i.e., region, type, and application segments.

Competitive Analysis: This report illuminates important mergers and acquisitions, business expansion, product or service differences, market concentration, the competitive status of the global APAC AI in Healthcare Market, and market size by player.

Company Profiles and Key Data: This section covers companies profiling the major players in the global APAC AI in Healthcare Market based on the aforementioned revenue, products, business, and other factors.

Market size by type and application: In addition to providing an in-depth analysis of the industry size by type and application, this section provides research on top end users or consumers and potential applications.

Market Dynamics: This report covers the drivers, trends, and opportunities of the global APAC AI in Healthcare Market. This section also includes Porter's analysis of five forces.

Findings and Conclusions: It provides strong recommendations for new as well as established players for securing a position of strength in the global APAC AI in Healthcare Market.

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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 APAC 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 APAC AI in Healthcare Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the APAC AI in Healthcare market
Chapter 2: Exclusive Summary - the basic information of the APAC AI in Healthcare Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the APAC AI in Healthcare
Chapter 4: Presenting the APAC 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 APAC 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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