Artificial Intelligence
Global Healthcare Artificial Intelligence Report 2020-2027: Market is Expected to Reach $35,323.5 Million – Escalation of AI as a Medical Device
Dublin, Jan. 08, 2021 (GLOBE NEWSWIRE) — The “Artificial intelligence in Healthcare Global Market – Forecast To 2027” report has been added to ResearchAndMarkets.com’s offering.
Artificial intelligence in healthcare global market is expected to reach $35,323.5 million by 2027 growing at an exponential CAGR from 2020 to 2027 due to the gradual transition from volume to value-based healthcare
The surging need to accelerate and increase the efficiency of drug discovery and clinical trial processes, advancement of precision medicines, escalation of AI as a medical device, increasing prevalence of chronic, communicable diseases and escalating geriatric population and the increasing trend of acquisitions, collaborations, investments in the AI in healthcare market.
Artificial intelligence (AI) is the collection of computer programs or algorithms or software to make machines smarter and enable them to simulate human intelligence and perform various higher-order value-based tasks like visual perception, translation between languages, decision making and speech recognition.
The rapidly evolving vast and complex healthcare industry is slowly deploying AI solutions into its mainstream workflows to increase the productivity of various healthcare services efficiently without burdening the healthcare personnel, to streamline and optimize the various healthcare-associated administrative workflows, to mitigate the physician deficit and burnout issues effectively, to democratize the value-based healthcare services across the globe and to efficiently accelerate the drug discovery and development process.
Artificial intelligence in healthcare global market is classified based on the application, end-user and geography.
Based on the application, the market is segmented into Medical diagnosis, drug discovery, precision medicines, clinical trials, Healthcare Documentation management and others consisting of AI guided robotic surgical procedures and AI-enhanced medical device and pharmaceutical manufacturing processes.
The AI-powered Healthcare documentation management solutions segment accounted for the largest revenue in 2020 and is expected to grow at an exponential CAGR from 2020 to 2027. AI-enhanced Drug Discovery solutions segment is the fastest emerging segment, growing at an exponential CAGR from 2020 to 2027.
The artificial intelligence in healthcare global end-users market is grouped into Hospitals and Diagnostic Laboratories, Pharmaceutical companies, Research institutes and other end-users consisting of health insurance companies, medical device and pharmaceutical manufacturers and patients or individuals in the home-care settings.
Among these end users, Hospitals and Diagnostic Laboratories segment accounted for the largest revenue in 2020 and is expected to grow at an exponential CAGR during the forecasted period. Pharmaceutical companies segment is the fastest-growing segment, growing at an exponential CAGR from 2020 to 2027.
The artificial intelligence in healthcare global market by geography is segmented into North America, Europe, Asia-Pacific and the Rest of the world (RoW). North American region dominated the global artificial intelligence in healthcare market in 2020 and is expected to grow at an exponential CAGR from 2020 to 2027. The Asia-Pacific region is the fastest-growing region, growing at an exponential CAGR from 2020 to 2027.
The artificial intelligence in healthcare market is consolidated with the top five players occupying majority of the market share and the remaining minority share of the market being occupied by other players.
Key Topics Covered:
1 Executive Summary
2 Introduction
3 Market Analysis
3.1 Introduction
3.2 Market Segmentation
3.3 Factors Influencing Market
3.3.1 Drivers and Opportunities
3.3.1.1 Aiabetting the Transition from Volume Based to Value Based Healthcare
3.3.1.2 Acceleration and Increasing Efficiency of Drug Discovery and Clinical Trials
3.3.1.3 Escalation of Artificial Intelligence as a Medical Device
3.3.1.4 Advancement of Precision Medicines
3.3.1.5 Acquisitions, Investments and Collaborations to Open An Array of Opportunities for the Market to Flourish
3.3.1.6 Increasing Prevalence of Chronic, Communicable Diseases and Escalating Geriatric Population
3.3.2 Restraints and Threats
3.3.2.1 Data Privacy Issues
3.3.2.2 Reliability Issues and Black Box Reasoning Challenges
3.3.2.3 Ethical Issues and Increasing Concerns Over Human Workforce Replacement
3.3.2.4 Requirement of Huge Investment for the Deployment of AI Solutions
3.3.2.5 Lack of Interoperability Between AI Vendors
3.4 Regulatory Affairs
3.4.1 International Organization for Standardization
3.4.2 Astm International Standards
3.4.3 U.S.
3.4.4 Canada
3.4.5 Europe
3.4.6 Japan
3.4.7 China
3.4.8 India
3.5 Porter’s Five Force Analysis
3.6 Clinical Trials
3.7 Funding Scenario
3.8 Regional Analysis of AI Start-Ups
3.9 Artificial Intelligence in Healthcare FDA Approval Analysis
3.10 AI Leveraging Key Deal Analysis
3.11 AI Enhanced Healthcare Products Pipeline
3.12 Patent Trends
3.13 Market Share Analysis by Major Players
3.13.1 Artificial Intelligence in Healthcare Global Market Share Analysis
3.14 Artificial Intelligence in Healthcare Company Comparison Table by Application, Sub-Category, Product/Technology and End-User
4 Artificial Intelligence in Healthcare Global Market, by Application
4.1 Introduction
4.2 Medical Diagnosis
4.3 Drug Discovery
4.4 Clinical Trials
4.5 Precision Medicine
4.6 Healthcare Documentation Management
4.7 Other Application
5 Artificial Intelligence in Healthcare Global Market, by End-User
5.1 Introduction
5.2 Hospitals and Diagnostic Laboratories
5.3 Pharmaceutical Companies
5.4 Research Institutes
5.5 Other End-Users
6 Regional Analysis
7 Competitive Landscape
7.1 Introduction
7.2 Partnerships
7.3 Product Launch
7.4 Collaboration
7.5 Up-Gradation
7.6 Adoption
7.7 Product Approval
7.8 Acquisition
7.9 Others
8 Major Companies
8.1 Alphabet Inc. (Google Deepmind, Verily Lifesciences)
8.2 General Electric Company
8.3 Intel Corporation
8.4 International Business Machines Corporation (IBM Watson)
8.5 Koninklijke Philips N.V.
8.6 Medtronic Public Limited Company
8.7 Microsoft Corporation
8.8 Nuance Communications Inc.
8.9 Nvidia Corporation
8.10 Welltok Inc.
For more information about this report visit https://www.researchandmarkets.com/r/dxs2ch
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Artificial Intelligence
Clario awarded SAS Global Service Provider Partner of the Year
This award recognizes Clario’s commitment to delivering the levels of excellence and innovation required to ensure data integrity in clinical trials.
Clario receives award for its broad endpoint technology solutions and scientific expertise, which together enhance data integrity and regulatory compliance for its customers.Clario’s services, combined with SAS® analytics solutions, set a new benchmark in data management, underscoring the value Clario brings to its customers.Coupled with Clario’s support of 62% of last year’s FDA approvals and the two recent data security certifications, these accomplishments emphasize its significant contribution to healthcare research advancements.PHILADELPHIA, April 23, 2024 /PRNewswire/ — Clario, a healthcare research and technology company that delivers the leading endpoint technology solutions for clinical trials, today announced it has been awarded the 2024 SAS Global Service Provider Partner of the Year for delivering superior value to its customers. SAS, a leader in data and AI, celebrated the recipients of its annual partner awards at SAS Innovate, its flagship event for business leaders, technical users and SAS Partners. This award recognizes Clario’s commitment to excellence and innovation, which together ensure that the clinical trial data Clario delivers to its customers meets stringent data integrity standards and global regulatory compliance requirements.
Clario has consistently demonstrated its expertise in developing and integrating advanced technological solutions to meet the evolving clinical trial needs of its customers. Clario’s services, combined with SAS technology, standardize clinical data for regulatory compliance purposes. This standardization streamlines the regulatory review process, ensures data integrity, and facilitates compliance with regulatory standards set by entities such as the Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
“We are honored to be recognized as the SAS Global Service Provider Partner of the Year. This award reaffirms our commitment to leading the way in innovative technological solutions for high-quality and more consistent clinical trials for our customers around the world,” said Jay Ferro, Chief Information, Technology and Product Officer at Clario. “Having supported 62% of the FDA approvals last year, along with our recent data security milestones ISO 27001:2022 certification and SOC2 Type II attestation, Clario is powering the advancement of healthcare research, ensuring we meet the highest standards in data management.”
Clario’s broadest endpoint technological solutions and its partnership with SAS address the challenges of data management in healthcare research. This collaboration not only ensures data integrity and streamlines regulatory processes but also underscores the value it brings to its customers.
For more information on Clario and its clinical trial data management platform, please visit Clario.com.
About Clario
Clario is a leading healthcare research and technology company that generates the highest quality clinical evidence for our pharmaceutical, biotech, and medical device partners. We offer comprehensive evidence-generation solutions that combine eCOA, cardiac safety, medical imaging, precision motion, and respiratory endpoints.
Clario’s science, technology, and operational experts have helped deliver over 26,000 trials and contributed to over 800 regulatory approvals in more than 100 countries. For more than 50 years, we have provided deep scientific expertise and the broadest endpoint technologies to help transform lives around the world.
Clario Media Contact:Alexis NavratilCommunications [email protected]
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Artificial Intelligence
Clarivate Acquires Global QMS, Inc., Expanding Life Sciences & Healthcare Segment into New Markets
Acquisition supports critical client workflow and reporting needs with proprietary SaaS platform, automating regulatory report authoring and compliance across manufacturing operations, supply chain and quality management
LONDON, April 23, 2024 /PRNewswire/ — Clarivate Plc (NYSE:CLVT) a leading global provider of transformative intelligence, today announced that it has acquired Global QMS, Inc., known as Global Q, a provider of cloud-based solutions that enable life sciences clients to automate regulatory reporting and compliance management. Financial terms of the transaction were not disclosed.
Global Q supports leading pharma, medtech and biotech companies by providing comprehensive access to linked and standardized workflow-ready data via its SaaS platform, Optiqs360 Digital™. The platform includes MediGPT – WorkCenter™ and MediGPT – IntelliWriter™, solutions that provide clients with interconnected data visibility and common user interfaces, across internal and external sources of record. The tools support the complex workflows and reporting needs of clinical, regulatory, product lifecycle and quality management professionals, significantly streamlining annual product reviews, medical device reports and supply chain insights.
Clarivate brings together connected data, deep expertise and intelligence solutions to empower life sciences and healthcare companies to deliver safe, effective and commercially successful treatments to patients faster. The acquisition of Global Q bolsters a robust integrated platform of life science intelligence solutions from pre-clinical and clinical offerings and further expands Clarivate capabilities in manufacturing and supply chain management to include regulatory report authoring and compliance management. The workflow and reporting capabilities of Global Q complement the Clarivate Cortellis Generics Intelligence solution for Active Pharmaceutical Ingredient (API) tracking. The addition of these cloud-based solutions will serve to embed Clarivate into critical client workflows and enable the expansion of Clarivate services into new markets.
Henry Levy, President, Life Sciences & Healthcare, Clarivate, said: “Clarivate continues to explore, develop and integrate next-generation workflow automation software that streamlines and digitizes manual workflows. The acquisition of Global Q builds on our strategy to deliver solutions that empower our clients to advance treatments that improve patient lives. The combined expertise, data and technologies of Clarivate and Global Q will help to address the client need for connected data to support complex analyses and evidence-based decisions in the life sciences.”
Mitch Hayes, Founder & Chief Executive Officer, Global QMS, Inc., said: “The acquisition of Global Q by Clarivate reinforces our joint missions to help global organizations obtain profound insights and efficiencies in bringing life-saving therapies to their patients worldwide. The combined business will further the vision of putting contextually aware intelligence directly into our customers’ workflows and facilitating their daily tasks in ways never before possible.”
Life sciences professionals responsible for new product development, manufacturing and regulatory compliance are looking to connect the dots across multiple data points to accelerate their treatment and prevention efforts and realize better patient health outcomes. Harmonized and connected data sources can address the industry need for content authoring automation spanning multiple systems and workflows. The acquisition of Global Q enables Clarivate to seamlessly tap into the digital thread market, allowing for proprietary data and insights gleaned from Clarivate solutions to frictionlessly be integrated into customer workflows.
Following the successful acquisition and integration of companies, including Decision Resources Group (DRG), Bioinfogate, Patient Connect, Dialog (part of ProQuest) and IP from MotionHall, the acquisition of Global Q further demonstrates the continuing investment by Clarivate in high-value data, analytics and innovative technology paired with deep subject matter and technical expertise within its Life Sciences and Healthcare segment.
As a trusted partner in shaping the future of healthcare, Clarivate proactively addresses industry demands through intelligence platforms that connect data and use AI and advanced analytics to revolutionize patient engagement, overcome access barriers and fulfill unmet needs. The complementary solutions of Clarivate and Global Q will better position the company in a market that favors innovative tech-enabled providers with end-to-end capabilities and unique market-leading data sets.
Forward-Looking Statements This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also impair our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
About Global QMS, Inc.Global QMS, Inc., known as Global Q, is a provider of a cloud-based intelligent workflow platform that gives our customers an interconnected workspace that allows them to have a composite view of all their product data (“digital threads”), including internal R&D, post market, regulatory, manufacturing, and others, as well as external feeds and real-world data.
Media Contact: Catherine Daniel, Director, External Communications [email protected]
Investor Relations Contact Mark Donohue, Head of Investor Relations [email protected]
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Artificial Intelligence
9fin grows leadership team with VP Content promotion
9fin has bolstered its senior leadership team with an internal promotion for a newly created VP Content positionThe promotion demonstrates the strong bench of leadership talent at 9fin and will ensure the company’s content offering continues to be best in classThe company continues to expand with open roles in its US and UK officesNEW YORK, April 23, 2024 /PRNewswire/ — 9fin (https://9fin.com/), a news and analytics platform for debt capital markets, has announced the promotion of Will Caiger-Smith to VP Content, as the business continues to scale rapidly across Europe and the US.
Will was previously 9fin’s US Managing Editor. In his new VP Content role, he joins Jen Speirs, who was promoted to VP Operations last year, in the company’s growing leadership team.
Both VP positions have global mandates and demonstrate 9fin’s continued investment in people and its commitment to rapidly progressing talented leaders within the business.
As VP Content, Will directs all news and analytics across the editorial, credit, legal and ESG teams. The promotion comes as 9fin has expanded from its core leveraged finance coverage into private credit, distressed debt, and structured credit (CLOs) across Europe and the US. These new verticals further the company’s mission to be the #1 provider of data, news and analytics globally across debt capital markets.
Will continues to report directly to 9fin’s CEO and co-founder Steven Hunter.
Will Caiger-Smith commented:
“I joined 9fin because I believed the company and its founders had the vision and technology to build the comprehensive debt intelligence platform the market needs,” said Will. “In my two and a half years at this company, that belief has only intensified. I’m delighted to be driving forward the content side of the business.”
Steven Hunter, CEO and co-founder of 9fin, said:
“I’ve been incredibly impressed by Will’s contributions to scaling 9fin in just a couple of years. He opened and scaled our US office from scratch and has built a world-class team. I am delighted to see him promoted into a new expanded role and join Jen as part of our VP level leadership. I am excited to work with them both to take 9fin to the next level”
About 9fin
9fin is the faster, smarter way to find intelligence on leveraged credit. Our AI-powered data and analytics platform centralises everything that’s needed to analyse a credit or win a mandate in one place, helping subscribers win business, outperform their peers, and save time. 9fin is trusted by the largest asset managers in the world, leading law firms and advisers in debt capital markets, and nine of the top 10 investment banks.
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