China Artificial Intelligence in Healthcare Market Report 2022 to 2030

China Artificial Intelligence (AI) in Healthcare Market Analysis

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China's Artificial Intelligence (AI) in the healthcare market is projected to grow from $0.55 Bn in 2022 to $11.91 Bn by 2030, registering a CAGR of 46.72% during the forecast period of 2022-30. The market will be driven by rising demand for healthcare services & a robust startup and innovation ecosystem. The market is segmented by healthcare components & by healthcare applications. Some of the major players include Google Health, Tencent Trusted Doctors & NERVTEX.

ID: IN10CNDH003 CATEGORY: Digital Health GEOGRAPHY: China AUTHOR: Vidhi Upadhyay

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China Artificial Intelligence (AI) in Healthcare Market Executive Summary

China's Artificial Intelligence (AI) in the healthcare market is projected to grow from $0.55 Bn in 2022 to $11.91 Bn by 2030, registering a CAGR of 46.72% during the forecast period of 2022-2030. In 2021, China had 36,570 hospitals, with nearly two-thirds of them privatized. As part of the country's social insurance system, China does provide free public healthcare. The healthcare system serves the majority of the indigenous population as well as foreigners in most cases. According to the global burden of illness report conducted by the US Institute for Health Metrics and Evaluation, strokes are the leading cause of death in China, followed by heart disease, chronic pulmonary disease, and lung cancer. One of the priority areas in China is healthcare. China is also putting a strategic emphasis on AI in healthcare.

To enhance patient outcomes and minimize healthcare costs, hospitals and healthcare organizations in China are implementing AI-powered medical imaging systems, disease detection tools, drug discovery, chatbots, virtual assistants, remote patient monitoring systems, hospital management, and healthcare insurance. XU HUA, Huazhong Univ. of Sci. and Tech Union Shenzhen Hospital in China has been efficiently utilizing AI to improve patient outcomes. The AI in Healthcare market in China is quickly expanding, driven by rising healthcare service demand and the opportunity for AI-powered solutions to alter the healthcare industry.

China artificial intelligence in healthcare market report 2022 to 2030

Market Dynamics

Market Growth Drivers

Many reasons are driving Artificial Intelligence (AI) in the healthcare market in China, including rising demand for healthcare services, the desire to enhance healthcare outcomes, and the potential of AI-powered solutions to alter the healthcare industry. The Chinese government has also designated AI as a strategic priority and has committed large resources to its research, resulting in a robust startup and innovation ecosystem. Furthermore, Chinese healthcare providers are implementing AI-powered solutions to improve patient outcomes and lower healthcare costs.

Market Restraints

There are few barriers to the growth of the AI in Healthcare industry in China. The lack of regulation and standardization surrounding the development and deployment of AI-powered healthcare solutions is one of the major challenges. There have also been concerns about data privacy and security, especially in light of recent data breaches in the healthcare business. Furthermore, China's rapid development of AI has resulted in a scarcity of experienced people capable of developing and deploying AI-powered solutions. This expertise deficit may impede the development and implementation of AI-powered solutions in the healthcare business. Another impediment to the growth of China's AI in the healthcare industry is the high cost of adopting these technologies. While AI has the potential to lower healthcare expenses in the long term, the initial costs of integrating these technologies can be prohibitive for many healthcare institutions.

Competitive Landscape

Key Players

IBM Watson Health
Google Health
NVIDIA Corporation
GE Healthcare
Philips Healthcare
Siemens Healthineers
Tencent Trusted Doctors (CHN)
iFlytek (CHN)
MegaRobo (CHN)
Insilico (CHN)
YITU (CHN)
Edge Medical Robotics (CHN)
ICarbonX (CHN)
LinkDoc (CHN)
NERVTEX (CHN)

Notable Insights

February 2023, NERVTEX, a Chinese firm focused on developing digital treatments for brain illnesses, has received certification from the China National Medical Products Administration for its AI-powered movement disorder analysis software.

October 2022, Siemens Healthineers heightened its focus on China, separating activities from the greater Asia-Pacific market.

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

China 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.