APAC AI in Healthcare Market Analysis

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.
• iCarbonXis 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.
• Lunit, a Seoul-based company offers a software called Lunit INSIGHT, which can help hospitals and doctors identify abnormalities in chest radiographs using computer vision.

By End User:

Based on the end user, the Asia Pacific 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
• 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.

By region:

Based on the geographical region, the market is segmented into

• China
• Japan
• South Korea
• India and
• Rest of Asia Pacific

IN 2018, Japan contributed to the largest market share followed closely by China. China is expected to hold the largest share of the market in the Asia Pacific region by 2025.

Top 5 Major Players

IBM Corporation, NVIDIA Corporation, Microsoft and Intel Corporation, iCarbonx are the major players in the Global 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.

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.