Artificial Intelligence in Healthcare Industry is said to boom post Covid19. Industry experts are claiming that the online platforms will outperform as compared to the previous years. It is also understood that the automation may not only help the industry to outperform but it will help all the stakeholders to gain maximum profits out of the same. Industry experts have already said the return on investment (ROI) will be far better than the current levels. It will also help in providing the well informed business decisions to the businesses and outperform the competitors in the industry.
The new entrant and the established can very well take advantage of technology in the healthcare industry and build or customize their product backend with Artificial Intelligence. It will help in collating and churning out the healthcare data to create well-informed reports for the companies. Such reports can be further used to understand the market needs in detail, evaluate the market size and dig the market competition.
Artificial Intelligence in Healthcare Industry is poised to grow exponentially at a CAGR of 41.5% during the next couple of years, global Industry amounting to the USD 31 billion by 2025, as per the reports by Grand View Research, Inc. The reports also include pointers and parameters to analyze further in anticipating the supply and demand scenario in the market, competitive analysis globally; perform the SWOT analysis and pricing strategy for your product.
Industry experts are very much pro about the next development in the Industry. There are various factors to introduce the heavy usage of Artificial Intelligence technology in the health industry. The factors most important are like continuous demand reduction of cost, precision medicine increasing demand, huge demand of big data in the healthcare, and reduction in the hardware costs. However it will largely depend on the investment the industry may receive from the financial houses. A Pandemic like covid19 gave further rise to the demand of the healthcare industry.
Contactless treatment and TeleVisit to a medical practitioner are working in a full swing. In USA, 50,000 physicians started using the facility and it experienced 16X increase in just 1 month during this pandemic.
At an outset, Global Artificial Intelligence in Healthcare Industry has massive set of data that needs to further processed in order to predict the demand of the products and technological development needed in the healthcare Industry. There will be huge impact of such data on the future growth of the healthcare industry.
A new business intelligence report released by HTF MI with title “Global Healthcare AI Market Size, Status and Forecast 2019-2025” suggests keeping a close watch on the qualitative and quantitative detailing of the companies like Apple, GE Healthcare, Google Deepmind Health, IBM Watson Health, etc. However further analysis needs to be done on the historical performance, market size contributions, market share, expected growth rate, and many more.
If you are related to the Healthcare Industry, keep close watch on your key strategies that include Technologies, product development, partnerships, mergers, acquisitions, demands, and your strategic board. The strategic move and proper analysis will be very much important to reach the expected industry growth.
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