Patient-Centric Approach: AI in Healthcare Market Analysis

According to Inkwood Research, the global artificial intelligence (AI) in healthcare market is anticipated to expand at a CAGR of 36.28% over the forecast period 2024 to 2032. AI in healthcare capitalizes on artificial intelligence technologies to enhance healthcare outcomes, improve patient care, and increase operational efficiency through data analysis and automation. 

The World Health Organization (WHO) is fundamental in this domain; it establishes ethical standards, promotes research, and fosters global collaboration in AI’s healthcare applications. In the Asia-Pacific, countries like China and Thailand substantively emphasize chatbots and machine learning in healthcare. 

Further, machine learning startups in the region are leading the way in utilizing AI to improve decision-making, optimize operations, and enhance patient experiences. This coordinated effort reflects the global commitment to harnessing AI’s potential to transform healthcare delivery and improve overall health outcomes.

Artificial_Intelligence AI_in_Healthcare_Market_Inkwood_Research

S.A.R.A.H: WHO’s Initiative in AI in Healthcare Market 

Have you ever imagined developing a better understanding of risk factors for some of the leading causes of death in the world through AI? 

Here’s how the World Health Organisation is facilitating this

The World Health Organization (WHO) plays a pivotal role in advancing AI in healthcare, as evidenced by the recent launch of S.A.R.A.H. (Smart AI Resource Assistant for Health) on 2nd April 2024. This digital health promoter prototype, powered by generative AI, is a significant step towards employing digital technologies to improve access to health information globally. 

S.A.R.A.H. engages users in 8 languages on various health topics, providing personalized and empathetic responses in real time. This initiative aligns with WHO’s commitment to ensuring that all individuals have the right to access accurate and reliable health information. By leveraging modern technology like generative AI, S.A.R.A.H. delivers information and fosters meaningful conversations, mirroring human interactions.

The development of S.A.R.A.H. underlines WHO’s dedication to continuous learning and refinement in the field of digital health. This prototype, supported by Soul Machines Biological AI, is a demonstration of AI’s potential to narrow health inequities and promote well-being globally. However, WHO also stresses the need for ongoing research to address ethical concerns surrounding AI in healthcare, including equitable access, privacy, safety, and data accuracy.

Through projects like S.A.R.A.H., WHO is facilitating reliable, responsible, and accessible health information dissemination. Moreover, ensuring this technology benefits all individuals while upholding the highest standards of ethics and evidence-based content.

Thailand’s HD | Improvising Patient Outcomes in AI in Healthcare Market

Chatbots are crucial in AI-driven healthcare, assisting in tasks like patient communication, appointment scheduling, medical inquiries, and data analysis, ultimately enhancing patient care. 

In line with this, Thailand’s HD, a healthcare startup known as the ‘Airbnb for surgeries,’ is venturing into AI within healthcare following a $5.6 million funding round. This expansion into AI is supported by notable investors such as SBI Ven Capital, Kyobo Securities, NTU Singapore’s NTUitive, M Venture Partners, Febe Ventures, Partech Partners, Ratio Ventures, Orvel Ventures, and TA Ventures

Their recent Series A funding enabled HD to expand into Vietnam earlier, and now the country is focusing on launching an AI-powered chatbot. This chatbot is designed to handle routine queries and will free up staff for more complex issues while ensuring round-the-clock customer service. 

Additionally, the chatbot will streamline tasks and improve patient outcomes throughout Southeast Asia. HD aims to train the chatbot using anonymized healthcare data and integrate it into HDmall within three months, with plans for further deployment in hospitals and clinics by the 2024 end. 

Despite projecting profitability post-pandemic, HD’s funding strategy harmonizes with leveraging lower acquisition costs amid evolving market dynamics. The growing accessibility of AI, in companies like OpenAI, is rebuilding the healthtech landscape. This transformation is evident in the anticipated 11% budget allocation for AI across diagnostics, drug discovery, and patient engagement in the country.

Market Position: As per Inkwood Research, Thailand artificial intelligence (AI) in healthcare market is predicted to develop at a CAGR of 36.88%

Progressive Reconstruction in AI in Healthcare: Alipay’s Medical Assistant

Alipay, a prominent Chinese payment app and digital wallet, has introduced an innovative solution in healthcare called the ‘AI Medical Assistant.’

This visionary tool utilizes AI large models and digital human technology, including virtual avatars, to revolutionize how patients interact with doctors and access medical services. Further, the assistant is designed to seamlessly assist users throughout their healthcare procedure, from pre-treatment to post-treatment phases.

  1. Pre-Appointment Assistance: Patients can describe their symptoms online, and the AI assistant will direct them to the appropriate department, simplifying the process and avoiding misdirection.
  2. In-Hospital Guidance: Upon reaching the hospital, patients will encounter customized ‘Assistants’ tailored to their city and hospital. These assistants provide guidance on treatment plans, review reports, and facilitate insurance payments.
  3. Post-Consultation Support: After consultations, patients can access their medical records and prescriptions and inquire about reports. The AI health assistant also establishes a health file for ongoing care through Internet Hospital features.

Alipay’s initial implementation of this AI assistant, named ‘Anclin,’ is in collaboration with the Zhejiang Provincial Health Commission. It is operational in 92 hospitals across the province. The introduction of Alipay’s AI Medical Assistant represents a shift towards patient-centric healthcare. It incorporates user-friendly interfaces and comprehensive functionalities to progressively reconstruct the healthcare sphere in China.

Stay up-to-date with what’s trending in the Global Artificial Intelligence (AI) in Healthcare Market

Market Position: As per Inkwood Research, China artificial intelligence (AI) in healthcare market is estimated to grow at a CAGR of 37.84%. 

AI has become a transformative force in healthcare, revolutionizing the way medical professionals diagnose, treat, and manage patient care from AI-powered chatbots optimizing administrative tasks to machine learning algorithms aiding in disease detection and treatment planning globally. 

The integration of AI technologies is stimulating healthcare outcomes and empowering patients with personalized and accessible medical services. As AI continues to evolve and integrate seamlessly, artificial intelligence (AI) in healthcare market is expected to observe progressive growth over the forecast period.

 

By Harshita Kumari

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    FAQ

    Artificial intelligence applications in healthcare include medical imaging interpretation, predictive analytics for disease prevention, virtual health assistants for patient engagement, drug discovery and development, robotic surgery assistance, and electronic health record (EHR) management.

    AI contributes significantly to healthcare innovation. It accelerates medical research, enables precision medicine, facilitates remote patient monitoring, and drives advancements in healthcare accessibility and affordability.