As the healthcare industry continues to evolve, technologies like Artificial Intelligence and Machine Learning become more prominent. These two technologies are being widely implemented across all the major spectrums of the healthcare sector, such as managing patient’s records, carrying out research work, conducting critical surgeries and others.
Taking this forward, here in this context, we will discuss the use case of AI in the healthcare sector, so let’s begin!
How big is the Healthcare sector?
There is no surprising fact that the Compound Annual Growth Rate (CAGR) of the global healthcare market is 7.3% since 2014, making it worth $8,452 billion in 2018. Further, it has been estimated that the global healthcare market, will grow further with CAGR of 8.9%, making it grow to $11,908.9 billion by the year 2022.
Similarly, if we take the case of AI, then the AI sector was worth $600 million in 2014 and is estimated to reach $150 billion by 2026, making it one of the world's highest-growth industries. So, one thing is pretty sure, the merge-up of AI and Healthcare can surely make it the biggest industry of all times. (Source: Healthcare Global Market Opportunities And Strategies To 2022 Report )
How can AI refine the Healthcare Industry?
Next, we move to the discussion on how AI can refine the Healthcare industry! So, here are some of the important points that make it the best union:-
One of AI's biggest benefits is to help people track their day-to-day patterns and understand their health. Thereby, promoting health awareness among the people, mitigating their need to visit doctor quite often.
AI-driven technology apps, wearables, and medical devices make it possible to detect diseases at early-stage. Thereby, enabling medical professionals to monitor and provide treatment to the patients at treatable stages.
Improves clinical decision-making
AI helps in identifying the patients who are at risk, using pattern recognition, health data, and predictive analytics. Thereby, make wise clinical decisions, along with prioritizing administrative tasks.
Beyond identifying the diseases at the early stages, AI helps in treating them in a more effective manner. There are surgical robots, which are driven on the principles of AI technology, which are usually employed to aid a human surgeon to carry out complicated surgeries.
All in all, AI empowers healthcare professionals, who strive to understand the day-to-day patterns and needs of the people. It lets them manage health data, identify the patients who are at risk, make timely decisions and provide better guidance, feedback, and support for staying healthy.