ARTIFICIAL INTELLIGENCE IN HEALTHCARE MARKET ANALYSIS

Artificial Intelligence in Healthcare Market, By Component (Hardware, Software, Services), By Technology (Speech Recognition, Natural Language Processing, Machine Learning, Context-Aware Processing), By Application (Imaging & Diagnostics, Home Health, Medical Devices and Robotics, Virtual Assistants, Others), By End User (Hospitals & Clinics, Medical Device Companies, Diagnostic Centers, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Aug 2024
Code : CMI436
Pages :220
Formats :
Excel and PDF
Industry : Healthcare IT

Market Challenge - Lack of skilled workforce

Global artificial intelligence in healthcare market growth can be hampered due to lack of skilled workforce that can boost adoption and implementation of AI technologies. While there has been immense potential for AI to revolutionize how healthcare is delivered, the dearth of data scientists and AI experts who understand both clinical and technological aspects can hamper the market growth. Most healthcare organizations do not have the required number of employees who are well-versed with latest AI algorithms and can accordingly develop robust and tailored AI solutions. This skills gap is leading to delays in projects and many initiatives are not scaling up as per expectations. Unless the talent pool is consistently improved through focused training and educational programs, it will be difficult for the AI in healthcare market to reach its true potential.

Market Opportunity -Personalized Medicine and Patient Experience

Leveraging AI to drive personalized medicine and improve overall patient experience can offer market growth opportunities. With the help of AI tools that can analyze huge amounts of patient data, it is now possible to develop highly customized treatment plans for individuals based on their genetic profile, medical history, lifestyle factors and more. This will lead to more targeted disease prevention, early diagnosis and superior treatment outcomes. AI also help in virtually engaging with patients through chatbots and virtual assistants. Such AI assistants can answer patient queries, provide reminders, monitor vitals remotely and help manage chronic conditions better. This elevated experience through personalized and AI-enabled care can boost customer satisfaction with the whole healthcare system.