Brazil Artificial Intelligence in Healthcare Market Report 2022 to 2030

Brazil Artificial Intelligence (AI) in Healthcare Market Analysis

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Brazil's Artificial Intelligence (AI) in Healthcare Market is projected to grow from $0.17 Bn in 2022 to $3.60 Bn by 2030, registering a CAGR of 46.22% during the forecast period of 2022-30. The market will be driven by the growing demand for healthcare services and the increasing availability of AI technologies. The market is segmented by healthcare components & by healthcare applications. Some of the major players include IBM Watson Health, Google Health, DASA & Inovacao AI.

ID: IN10BRDH003 CATEGORY: Digital Health GEOGRAPHY: Brazil AUTHOR: Vidhi Upadhyay

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Brazil Artificial Intelligence (AI) in Healthcare Market Executive Summary

Brazil's Artificial Intelligence (AI) in the healthcare market is projected to grow from $0.17 Bn in 2022 to $3.60 Bn by 2030, registering a CAGR of 46.22% during the forecast period of 2022-30. Brazil is the biggest healthcare market in Latin America, with healthcare accounting for 9.1% of GDP. Of the roughly 6,642 hospitals, 63% are privatized. There are roughly 532,645 hospital beds, 88,000 healthcare auxiliary services, 502,000 doctors, 331,000 dentists, and 89,000 drugstores by 2021. In 2022, around 1.48 million fatalities occurred in Brazil. Diseases of the circulatory system, including heart and cerebrovascular illnesses, were the main cause of mortality in the country that year, accounting for more than 378 thousand fatalities.

Medical imaging is one of the most important areas in which AI is being employed in healthcare in Brazil. AI algorithms are being developed to help radiologists diagnose illnesses by analyzing medical pictures such as X-rays, CT scans, and MRI scans. This device is especially useful in locations where radiologists are in limited supply. Telemedicine is another area in which AI is being applied in healthcare in Brazil. The COVID-19 epidemic had boosted the need for telemedicine dramatically. Chatbots and virtual assistants powered by artificial intelligence are being used to assess patients, offer basic medical advice, and organize appointments with physicians. In Brazil, AI is also being employed in medication discovery and clinical trials. AI algorithms are being used to examine clinical trial data in order to find novel cures for illnesses. This method offers the potential to accelerate and improve drug discovery. Brazil is one of the fastest-growing markets for healthcare artificial intelligence (AI), with an increasing number of businesses and organizations investing in AI technologies to improve healthcare outcomes and patient care. In October 2020, The Center for Artificial Intelligence (C4AI) in Brazil was inaugurated by IBM, the University of So Paulo (USP), and FAPESP (So Paulo State Research Foundation), and was announced to be dedicated to developing cutting-edge AI studies and research to address topics of great social and economic impact.

Brazil's artificial intelligence in healthcare market analysis

Market Dynamics

Market Growth Drivers

The Recommendation on the Ethics of Artificial Intelligence, the first global standard-setting instrument on AI, was adopted by UNESCO's General Conference in November 2021. To discuss and promote this subject in Brazilian society, UNESCO Brasilia published this Recommendation in Portuguese in 2022. The Brazilian government has launched a number of programs aimed at encouraging the use of AI in healthcare, including funding research and development projects and assisting healthcare start-ups. Brazil has a huge and increasing population, resulting in an increase in demand for medical care. AI and related technologies such as artificial intelligence and natural language processing are enabling large volumes of data to be analyzed more precisely and rapidly than ever before. This is fuelling the development of new artificial intelligence (AI) applications in healthcare. Private sector investment in artificial intelligence (AI) in healthcare is rapidly increasing in Brazil, with many large healthcare companies and startups investing in AI technologies.

Market Restraints

Many healthcare facilities in Brazil lack access to high-speed internet and other technology and infrastructure, which can limit AI technology adoption. Some healthcare providers in Brazil have scarce resources and are unable to invest in costly AI technologies, which may limit their adoption. In Brazil, there are currently few regulations governing the use of artificial intelligence in healthcare, which can lead to uncertainty and confine investment in these technologies. AI technologies rely on massive amounts of data, raising concerns about patient privacy and data security. These reservations may limit the use of AI in healthcare.

Competitive Landscape

Key Players

IBM Watson Health
Google Health
Microsoft Healthcare
Amazon Web Services
Philips Healthcare
Ada Health
Inovacao AI (BRA)
Lunit Inc. (BRA)
DASA (BRA)
SpecLab (BRA)
Huna (BRA)
ProBrain (BRA)
Medicinia (BRA)

Notable Insights

January 2023, Hospital Israelita Albert Einstein inks a deal for Lunit's AI technology. Lunit's AI solution will be used to screen chest x-ray pictures at the hospital.

December 2021, Ada Health, a global digital health company, announced today that its artificial intelligence-powered symptom assessment and care navigation platform has been granted class II medical device status in Brazil. Ada is Brazil's first and only AI-powered digital health assessment platform to achieve this.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Artificial Intelligence (AI) in Healthcare Market Segmentation

Artificial Intelligence (AI) in Healthcare Market is segmented as mentioned below:

By Healthcare Component (Revenue, USD Billion):

Software Solutions
Hardware
Services

By Healthcare Applications (Revenue, USD Billion):

Robot-Assisted Suregery
Virtual Assistants
Administrative Workflow Assistants
Connected Machines
Diagnosis
Clinical Trials
Fraud Detection
Cybersecurity
Dosage Error Reduction

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.