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AI in Healthcare Market to Grow by USD 20.34 Billion (2024-2028), Driven by Healthcare Digitization, AI-Powered Report Highlights Market Transformation – Technavio

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NEW YORK, Nov. 13, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global artificial intelligence (AI) in healthcare market size is estimated to grow by USD 20.34 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 29.52% during the forecast period. Push for digitization in healthcare is driving market growth, with a trend towards new growing potential for ai-based tools in elderly care. However, physician and provider skepticism poses a challenge.Key market players include Ada Health GmbH, Alphabet Inc., Amazon.com Inc., Atomwise Inc., BenchSci Analytics Inc., CarePredict Inc., Catalia Health, Cyclica, Deep Genomics Inc., Entelai, Exscientia PLC, General Electric Co., Intel Corp., International Business Machines Corp., Koninklijke Philips N.V., MaxQ AI, Medtronic Plc, Microsoft Corp., NVIDIA Corp., and Siemens Healthineers AG.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Application (Medical imaging and diagnostics, Drug discovery, Virtual assistants, Operations management, and Others), Component (Software, Hardware, and Services), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Ada Health GmbH, Alphabet Inc., Amazon.com Inc., Atomwise Inc., BenchSci Analytics Inc., CarePredict Inc., Catalia Health, Cyclica, Deep Genomics Inc., Entelai, Exscientia PLC, General Electric Co., Intel Corp., International Business Machines Corp., Koninklijke Philips N.V., MaxQ AI, Medtronic Plc, Microsoft Corp., NVIDIA Corp., and Siemens Healthineers AG

Key Market Trends Fueling Growth

Artificial Intelligence (AI) is revolutionizing the healthcare industry with intelligent agents like machine learning and artificial neural networks. These technologies analyze patient health details using digital technologies, focusing on chronic diseases and personalized medicines. AI’s predictive analytics and content analytics provide real-time insights from medical images such as X-rays, CT scans, and MRIs, ensuring data security and standardization. Cloud computing and IoT devices enable remote patient monitoring and telehealth services, improving clinical decision-making and virus strain identification. AI applications in diagnostics, treatment planning, and personalized care plans enhance patient outcomes. AI-powered solutions in medicine, clinical trials, drug discovery, and development streamline IT infrastructure and resource allocation. Virtual assistants and companion robots offer personalized care plans and medication management. AI algorithms and machine learning integrate with claims processing and workflow optimization, reducing dosage errors and fraud detection. Genomic sequencing and AI-based software solutions provide personalized treatment plans using big data analytics. Healthcare organizations, providers, payers, and patients benefit from AI-based solutions, including robot-assisted surgeries, computer vision, IoT sensors, and AI-based software solutions. 

The global population aged 60 and above is projected to double from 605 million in 2000 to nearly 2 billion by 2050. This demographic shift is particularly noticeable in Europe, Japan, and China. In the US, the elderly population is projected to account for 20% of the total population by 2030. This trend poses significant economic, social, and health implications for these countries. In response, the healthcare industry is developing innovative solutions to cater to the unique needs of the aging population. These advancements include telemedicine, AI-assisted diagnosis, and remote patient monitoring systems. By leveraging technology, healthcare providers aim to improve patient outcomes, reduce costs, and enhance overall efficiency. 

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Market Challenges

Artificial Intelligence (AI) is revolutionizing healthcare by enabling intelligent agents like machine learning and artificial neural networks to analyze vast amounts of patient health data. This data comes from digital technologies such as electronic health records, IoT devices, and medical imaging scans like X-rays, CT scans, and MRIs. AI applications in healthcare include personalized medicines, predictive analytics, content analytics, and real-time insights for chronic disease management. However, challenges persist. Data security, standardization, and IT infrastructure are key concerns. AI must ensure the privacy and protection of patient data while dealing with big data analytics. AI-powered solutions can help with clinical decision-making, virus strain identification, and personalized care plans for elderly care and lifestyle diseases. Telehealth and telemedicine are also areas where AI can improve patient outcomes by providing remote patient monitoring and real-time insights. AI is also transforming clinical practice with AI-based algorithms for claims processing, workflow optimization, and machine integration. Deep learning technology and computer vision are being used for medical imaging analysis, while AI-powered software solutions are enhancing medication management and treatment planning. AI is also playing a crucial role in drug discovery and development, with genomic sequencing and AI-based algorithms accelerating the process. Despite these advancements, there are challenges to overcome. Data security, standardization, and clinical practice integration are ongoing concerns. AI solutions must be integrated seamlessly into healthcare organizations, ensuring cybersecurity and innovation. AI is also transforming robot-assisted surgeries, dosage error reduction, and fraud detection. The future of AI in healthcare is bright, with AI-powered solutions set to transform the industry and improve patient care services.Artificial Intelligence (AI) is revolutionizing healthcare by providing connected services and addressing the shortage of medical professionals. Skepticism among doctors is common, but AI offers advantages such as enhanced diagnostics and more time for critical cases. However, AI solutions are still in development and have yet to significantly impact mainstream practice. To increase adoption, technology vendors and life sciences companies must focus on user experience and innovative offerings. AI’s potential to transform healthcare is significant, but careful implementation is necessary to ensure value and trust.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This artificial intelligence (ai) in healthcare market report extensively covers market segmentation by

Application 1.1 Medical imaging and diagnostics1.2 Drug discovery1.3 Virtual assistants1.4 Operations management1.5 OthersComponent 2.1 Software2.2 Hardware2.3 ServicesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Medical imaging and diagnostics- Medical imaging is a crucial aspect of healthcare, involving the creation of visual representations of the body for clinical analysis and diagnosis. Radiology, the science behind interpreting these images, utilizes tools like X-rays, CAT scans, and MRIs. Managing and analyzing the vast amounts of high-resolution medical imaging data is challenging for even large healthcare institutions and experienced professionals. The increasing volume of data and the need for radiologists to work more efficiently will fuel the adoption of Artificial Intelligence (AI) in medical imaging. Nearly 90% of healthcare data originates from medical imaging, making it a valuable source of patient information. Healthcare organizations are implementing AI-driven image processing to identify health patterns and diagnose patients with accuracy and speed. Key players in the healthcare sector, including providers, manufacturers, and imaging technology vendors, are integrating AI into their products and services. Imaging research laboratories are developing advanced AI systems for modernizing medical imaging, focusing on reducing noise, improving computer-aided detection, classification, and radio genomics. AI systems employ Deep Learning (DL) and Machine Learning (ML) algorithms to aid expert physicians in clinical interpretation tasks, resulting in fewer diagnostic errors, enhanced patient care, and increased efficiency at a lower cost. The growing use of medical imaging data and AI technology in healthcare practices will continue to drive the growth of the medical imaging market in the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 – 2021) 

Research Analysis

Artificial Intelligence (AI) is revolutionizing healthcare by introducing intelligent agents like machine learning and artificial neural networks to analyze vast amounts of patient health data. These technologies enable the identification of patterns and trends, leading to personalized medicines for chronic diseases. Data analytics, fueled by deep learning technology and computing power, are transforming healthcare by providing insights from big data. AI applications include personalized care plans, health monitoring through wearable devices and companion robots, medication management, and virtual assistants. AI-powered solutions also excel in medical imaging analysis, predictive analytics for personalized treatment planning, and drug discovery. Healthcare data, including medical imaging scans and genomic sequencing, are analyzed to deliver accurate and timely diagnoses and treatments. AI is set to revolutionize clinical decision-making, making healthcare more efficient, effective, and personalized.

Market Research Overview

Artificial Intelligence (AI) is revolutionizing the healthcare industry by enabling intelligent agents to learn from digital technologies and patient health details. Machine learning and artificial neural networks are at the core of this transformation, analyzing vast healthcare datasets to deliver personalized medicines and predictive analytics. Deep learning technology and content analytics provide real-time insights into patient care services, while cloud computing and IoT devices enable remote patient monitoring and standardization of clinical practice. AI applications in healthcare span from diagnostics and treatment planning to drug discovery and development. AI-powered solutions analyze medical images, such as X-rays, CT scans, and MRIs, to detect virus strains and provide personalized care plans. Data security and standardization are crucial in this context, ensuring the confidentiality and integrity of patient health data. Telehealth, telemedicine, and clinical trials also benefit from AI, with AI-based software solutions optimizing workflows, integrating machines, and enhancing cybersecurity. AI algorithms and AI-based algorithms are transforming clinical decision-making, enabling resource allocation and personalized treatment plans for chronic diseases, geriatric population, and lifestyle diseases. AI applications extend to companion robots, virtual assistants, and medication management, improving healthcare outcomes for patients and healthcare organizations alike. AI-powered solutions are also revolutionizing claims processing, dosage error reduction, and fraud detection, while AI algorithms analyze genomic sequencing and genomic information to accelerate drug discovery and development. In summary, AI is transforming the healthcare industry by enabling personalized medicine, predictive analytics, real-time insights, and resource allocation, ultimately improving patient care and outcomes. The software segment, including non-procedural languages, deep learning, and artificial neural networks, plays a crucial role in this transformation. AI-based solutions are revolutionizing medical imaging analysis, patient data analysis, wearables, cancer care, and healthcare data management, among other applications. The future of healthcare is AI-driven, with AI-powered solutions set to transform clinical practice, resource allocation, and patient care services.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationMedical Imaging And DiagnosticsDrug DiscoveryVirtual AssistantsOperations ManagementOthersComponentSoftwareHardwareServicesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Trainocate Wins Cisco Learning Partner of the Year – APJC for Second Consecutive Year

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — Trainocate Holdings, a leading global provider of technology and business training solutions, today announced that it has been awarded the Cisco Learning Partner of the Year 2024 for Asia Pacific, Japan, and China (APJC) for the second year in a row.

This prestigious award recognizes Trainocate’s outstanding performance, commitment to customer success, and dedication to delivering high-quality Cisco training programs across the region.

“To be recognized once was an honour beyond words, but to be bestowed this distinction again is truly humbling and a testament to the unwavering support and encouragement of those who have walked this journey with us,” said Takashi Ozawa, President & CEO of Trainocate Holdings. “We are deeply grateful for everyone who has been a part of our success. This award reflects our core values of collaboration, excellence, and customer centricity, and it inspires us to continue upholding them in everything we do.”

“Receiving the Cisco Learning Partner of the Year award for a second consecutive year is a true reflection of our team’s dedication and our unwavering pursuit of excellence,” said Khor Hee Soo, CTO of Trainocate Holdings, Managing Director for India, and Chairman for Sri Lanka and UAE. “This recognition not only celebrates the hard work of everyone at Trainocate but also reinforces our commitment to empowering individuals and organizations across the APJC region with transformative learning solutions. We are deeply grateful to Cisco for their partnership and look forward to continuing our journey of innovation and impact in the learning and development space.”

During the award ceremony held on 23 October 2024, Cisco highlighted Trainocate’s impressive achievements within the past year, including:

32% of Instructor-Led Training (ILT) seats sold in the APJC region.45% of Cisco U subscriptions sold in the APJC region.Exceptional learner satisfaction on score of 94%.

These accomplishments demonstrate Trainocate’s strong track record of delivering impactful and engaging learning experiences that help professionals achieve their career goals and organizations drive digital transformation.

As a Cisco Platinum Learning Partner, Trainocate offers a comprehensive portfolio of authorized Cisco training courses, certifications, and learning solutions. With over 29 years of experience, Trainocate is a trusted partner for organizations seeking to upskill their workforce and stay ahead of the curve in today’s rapidly evolving technology landscape.

About Trainocate Holdings

Trainocate Holdings is a leading provider of IT and professional training, offering a comprehensive range of courses and certifications across various domains.

Boasting a global presence in 22 countries (and counting!) and a commitment to excellence, Trainocate empowers individuals and organizations to achieve their full potential through continuous learning and development.

With 30+ authorized training partnerships and countless awards from leading technology vendors, you’re guaranteed learning from the industry’s elite when you #GetTrainocated.

For more information, visit Trainocate’s website www.trainocate.com.

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Can Independent Physicians Survive in 2025?

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Learn How at an Exclusive Webinar on Nov. 20th Hosted by Medical Economics and Specialdocs 

CHICAGO, Nov. 14, 2024 /PRNewswire/ — In healthcare change is inevitable, but for independent physicians already facing an uncertain economic forecast in 2025, the prospect of a new administration is sparking even more concern. To help decipher the implications of an ever-evolving regulatory and reimbursement landscape, Medical Economics has teamed up with Terry Bauer, CEO of concierge medicine pioneer Specialdocs Consultants, and Max Reiboldt, Chairman of leading healthcare advisory, Coker, to present an exclusive, informational webinar for physicians on November 20th. Bauer and Reiboldt bring insights gained collectively over more than a century advising physicians on career strategies, to address the headwinds that threaten to topple private medical practices, and explain why concierge medicine offers one of today’s most viable pathways to retaining independence. 

Prominent healthcare industry experts share how physicians can thrive in 2025: join our complimentary webinar on Nov. 20th.

CLICK HERE to register for “2025 Forecast for Physicians: Financial Headwinds, Continued Burnout, and How Concierge Medicine May Be the Cure for What Ails You” at 7 pm CST/8 pm EST on Wednesday, November 20th.

“Now representing just 22% of all practices,1 the independent physician is in danger of disappearing altogether amid unrelenting financial, professional and personal pressures,” says Bauer. “Among other challenges, rising costs to operate a traditional practice and continual cuts to Medicare reimbursements have contributed to an overall 29% downward slide in Medicare compensation over the last two decades.”2

He continues: “Yet we know that a change to our membership medicine model can prove lifesaving, restoring practice sustainability and ushering in a new era of unparalleled career satisfaction. We’ve long championed this solution for physicians in private practice, who have been consistently unappreciated for the very real value they bring to their patients and the health system.” 

Adds Reiboldt: “Physicians in private practice are still a cornerstone of our healthcare system yet are facing challenges that threaten their existence. More and more physicians are affiliating with capital and/or strategic partners, which is not a bad thing but still threatens their independence and private structure.”

A number of crucial issues will be examined during the webinar. “We will approach these with sensitivity as all providers (physicians, health systems, private and public investors, et al) share in both the credit and the blame for our current state of affairs,” says Reiboldt.

Topics will include:

The new administration’s approach to lowering costs, reducing regulatory barriers to consolidation and expanding price transparency mandates for healthcare services.Future use of AI and other technologies to drive greater efficiencies, quality of care.The outlook for primary care providers and programs such as Medicare Advantage, risk-based reimbursement, quality incentives.How upcoming changes in reimbursement and regulations impact the financial viability of traditional practices.Strategies for maintaining or regaining independence as a practitioner; concierge medicine as a model offering sustainable financial security and work-life balance.

About Our Speakers

Terry Bauer is CEO of Specialdocs Consultants. With more than three decades of healthcare leadership experience, Terry has a reputation for bringing about positive change as a strategist, builder, and driver of successful, high-performance companies. Terry’s mission at Specialdocs: to elevate the profile and escalate the growth of this firm that has pioneered the transition from traditional to independent concierge medicine practices, with a focus on expanding the reach and portfolio of high-quality services provided to the company’s growing national network of exceptional physicians. Terry’s career includes a long tenure as co-founder, president, CEO, and director of Orion HealthCorp, a national physician services and management organization. He has served on the board of directors of Specialdocs since Shore Capital Partners invested in the firm in 2015, and became CEO of the company in 2016.

Max Reiboldt, CPA, is Chairman of Coker. His 45 years of work in business and industry, primarily involving healthcare providers, has given him invaluable experience. He handles strategic, tactical, financial, and management issues that health systems, physicians, and other healthcare entities and/or investors face in today’s evolving marketplace. Max understands the nuances of the healthcare industry in a dynamic age, and how healthcare organizations need to maintain viability in a highly competitive market. Whether a transitional provider or a more trailblazing healthcare entity, Max works to provide sound solutions to everyday and long-range challenges with a hands-on approach much valued by his clients. Max oversees Coker’s services as part of the Executive Committee, and maintains his passion for working with clients and organizations of all sizes.

Physician’s Advocacy Institute reportAMA 2024 Medicare Updates

Media Contact:
Mindy Kolof
mkolof@specialdocs.com 
8479213271

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Rokid Glasses: Where AI Meets AR, Rivaling Meta’s Ray-Ban in an Exclusive Unveiling at Rokid Jungle 2024

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REDWOOD CITY, Calif., Nov. 14, 2024 /PRNewswire/ — Rokid is poised to unveil its groundbreaking next-generation smart glasses, the Rokid Glasses, at the highly anticipated Rokid Jungle 2024 event, set to take place on 18 November in Hangzhou, China. Seamlessly integrating cutting-edge artificial intelligence with augmented reality, Rokid Glasses represent the pinnacle of innovation. As the most eagerly awaited event in the augmented reality calendar, Rokid Jungle 2024 is destined to be the largest and most consequential gathering of its kind on the global stage. With an impressive turnout expected of over 1,000 distinguished attendees, the event will serve as a landmark occasion, bringing together partners, visionaries, and industry leaders. The launch of the Rokid Glasses promises to elevate the smart daily experience to unprecedented heights, setting new standards in the realm of wearable technology.

Rokid Glasses: Transforming AI and AR into an Essential Daily Gadget for All
Rokid Glasses combine style, comfort, and lightweight design with intuitive, AI-powered features. Integrated with Alibaba’s Tongyi Qianwen AI, Rokid Glasses offer a range of capabilities, including object recognition, text translation, and even solving complex math problems. It can calculate the calorie content of food or provide real-time language translation, making it an indispensable tool for travelers.

Empowered by Zhi Xiaobao, Alibaba’s AI assistant, Rokid Glasses allow users to take full control of their world with simple voice commands, whether booking a ride or ordering a coffee. The advanced voiceprint recognition technology also facilitates secure payments via Alipay, ensuring a seamless and trusted connection to the user’s phone. Alipay’s cutting-edge AI audio detection technology guarantees top-tier security and fraud prevention during transactions.

A standout feature of Rokid Glasses is the ability to view message notifications directly through the glasses, effectively replacing the need for a phone screen. This functionality hints at a future where Rokid Glasses may evolve into a central hub of daily life, potentially replacing smartphones altogether as an essential tech gadget. “We’ve crafted our new glasses to redefine the user experience, bringing the world’s first AI+AR glasses to daily life,” says Misa Zhu, Founder and CEO of Rokid. “Our mission is to make high-quality AI+AR glasses accessible to everyone, and this launch marks a bold step in that direction.” True to Rokid’s ethos of Leave Nobody Behind, the Rokid Glasses bridge gaps in accessibility, usability, and comfort, ensuring that everyone can experience the transformative power of innovation.

Rokid’s Role to Impact Global Tech Arena and Its Commitments for leading AR Industry
Rokid is making significant strides in transforming the museum experience using augmented reality (AR) technology to enhance visitor engagement. By providing immersive, interactive experiences, Rokid brings historical artifacts and exhibitions to life in exciting new ways. With over 2.5 million users benefiting from its AR glasses and more than 300,000 of these users have made actual purchases and are actively engaged with the devices. Even more striking is the fact that Rokid users spend an average of 2 hours and 45 minutes daily with Rokid glasses—this not only underscores the strong appeal of Rokid’s products but also reflects the growing consumer interest in and adoption of augmented reality technology.

Rokid’s ecosystem continues to flourish, with over 6,200 registered developers, highlighting the company’s significant progress in cultivating an open and thriving ecosystem. As the race in augmented reality heats up, major players are competing for dominance in this rapidly evolving space. With AR technology expanding its global footprint, the question remains: who will emerge as the true leader in the AR industry? While the collaboration between Ray-Ban and Meta has brought new energy to the smart glasses market, Meta continues to face challenges. Despite a decade of investment in XR, VR, and AR, Meta has made strides with VR hardware like the Meta Quest but still struggles with slow user adoption and limited AR functionality.

Rokid Jungle 2024: A Decade of Breaking Boundaries in Augmented Reality
Rokid Jungle 2024 commemorates a significant milestone: Rokid’s 10th anniversary and the beginning of the next decade of AR innovation. From its founding in 2014, Rokid has maintained a relentless focus on human-computer interaction, driving the evolution of AR technology through unwavering dedication to innovation. From setting industry standards with the original Rokid Glass to the highly regarded consumer product Rokid Air, and now with the trendsetting AR Studio and AR Lite, Rokid has played a key role in propelling the AR industry forward.

With the launch of the latest Rokid Glasses, the company reaffirms its leadership in the new wave of AR technological innovation. To mark this remarkable milestone, Rokid is delighted to offer a $20 benefit on all purchases made via the official website, using the code ROKID10 at checkout. Looking ahead, Rokid is thrilled to showcase its innovations at CES 2025, where will continue to lead the charge in AR technology. Rokid looks forward to seeing you there and sharing the next chapter of this exciting journey.

Email: pr@rokid.com
Rokid Official Website https://global.rokid.com/

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