Healthcare

Pharmaceuticals, biotechnology, medical devices, healthcare IT solutions, hospitals, telemedicine, and wellness services constitute an important component of healthcare commercialization. AI applications that trigger such change have come from AI-based clinical solutions that provide advancements in precision medicine or digital transformation in health. Therefore, as healthcare prioritizes value-based care and enhanced outcomes, remote patient monitoring systems, patient-specific treatment plans, and diagnostics will be increasingly in demand. The consumerization of medicine, however, does not cast away the expansion of the telehealth services market growth and trend in the adoption of wearable medical devices.

Key market drivers include the rise of chronic disease, aging populations, government initiatives for universal access to healthcare, and advances in healthcare technology. Challenges are arising, however, with high healthcare costs, stringent regulatory frameworks, data privacy concerns in digital health practices, and a global shortage in the healthcare workforce. Growth opportunities can be found in building healthcare data security on blockchain, drug discovery by artificial intelligence, expansion of the robotic-assisted surgery market, and personalized innovations in medicine. The evolution of clinical decision-making and operational efficiency is revolutionizing clinical decision-making and operational efficiency at hospitals and other healthcare facilities through the adoption of EHRs and AI-powered predictive analytics in patient care.