UK Artificial Intelligence (AI) in Healthcare Market Report 2022 to 2030

UK Artificial Intelligence (AI) in Healthcare Market Analysis

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The UK Artificial Intelligence (AI) In Healthcare Market is projected to grow from $0.18 Bn in 2022 to $3.18 Bn by 2030, registering a CAGR of 43.22% during the forecast period of 2022-2030. The market will be driven by. The market is segmented by healthcare components & by healthcare applications. Some of the major players include NVIDIA Corporation, GE Healthcare & Google DeepMind Health.

ID: IN10GBDH003 CATEGORY: Digital Health GEOGRAPHY: UK AUTHOR: Vidhi Upadhyay

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UK Artificial Intelligence (AI) In Healthcare Market Executive Summary

The UK Artificial Intelligence (AI) In Healthcare Market is projected to grow from $0.18 Bn in 2022 to $3.18 Bn by 2030, registering a CAGR of 43.22% during the forecast period of 2022-2030. The NHS delivers an outstanding quality of treatment; the UK's healthcare system was placed tenth overall in the 2021 Global Index of Health Innovation. According to the Global AI Adoption Index 2021, the UK has a rate of AI adoption of more than 20%. In 2020, the UK ranked third in the world for private investment in AI businesses, after only the United States and China. London is Europe's best-performing city for AI companies, while other top UK locations include Edinburgh, Glasgow, Cambridge, Manchester, Oxford, and Leeds.

AI is employed to monitor patients' vital signs in order to help in the detection of different ailments like cancer, Alzheimer's disease, and heart disease. Artificial intelligence is being used to evaluate massive volumes of data in order to uncover possible drug candidates for different ailments. AI-powered chatbots and virtual assistants may offer patients with basic medical information and answer common inquiries, as well as automate administrative activities including appointment scheduling, electronic health record management, and insurance claim processing.

The recently announced AI Standards Hub is part of the UK's National AI Plan, a 10-year framework that recognises the promise of artificial intelligence to generate prosperity and innovation in both the business and public sectors. The technology is utilised to improve patient care, increase the efficiency of healthcare operations, and allow for improved clinical decision-making.

UK Artificial Intelligence (AI) In Healthcare Market

Market Dynamics

Market Growth Drivers

There are around 1,500 high-growth AI startups in the UK, with London accounting for over 60% of these firms. The UK government released its long-awaited National AI Plan in September 2021. The Department for Digital, Culture, Media, and Sport (DCMS) issued its Ten Tech Priorities in March 2021, laying the groundwork for the present National AI Strategy. Via a range of publicly supported initiatives and accelerator programmes, the UK government assists creative enterprises in developing and deploying AI-based solutions. The Thames Valley Berkshire Living Labs project, got £5.5 million from the UK government under the ADEPT (Association of Directors of Environment, Economics, Planning, and Transport) SMART Places Live Labs initiative.

Market Restraints

The application of AI in healthcare necessitates the collection and analysis of sensitive patient data, which creates privacy and security issues. Artificial intelligence (AI) in healthcare is subject to stringent regulatory restrictions, which might stymie acceptance and deployment. Healthcare systems in the UK are often fragmented and compartmentalised, making it difficult to exchange data and apply AI solutions. Healthcare personnel and patients may lack faith in AI, which might stymie uptake and utilisation.

Competitive Landscape

Key Players

IBM Watson Health
Google Health
NVIDIA Corporation
GE Healthcare
Philips Healthcare
Siemens Healthineers
Roche
Google DeepMind Health (GBR)
BenevolentAI (GBR)
Babylon Health (GBR)
Sensyne Health (GBR)
Skin Analytics (GBR)
Optellum (GBR)

Notable Insights

March 2023, The British government has given more than $19 million to nine AI health-related companies to help the National Health Service, the country's public healthcare provider, use the technology. The initiatives involve the use of AI in cancer diagnosis, identifying women at risk of high-risk preterm deliveries, detecting uncommon diseases, and treating dementia.

December 2022, according to a recent study, artificial intelligence technology has increased the number of UK stroke victims recovering An early-stage review of over 111,000 potential stroke patients whose care involved the use of the technology found that it decreased the time between being seen by a doctor and the initiation of therapy by more than 60 minutes, leading to better outcomes.

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

Artifical Intelligence (AI) in Healthcare Market Segmentation

The 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.