Artificial Intelligence in Healthcare Sector
The knowledge report is published by STPI (Software Technology Parks of India), Ministry of Electronics & Information Technology in October, 2022 and has been prepared based on the guidance of STPIs CoEs like Neuron (Mohali), Image (Hyderabad), MedTech (Lucknow), and AIC STPI (Bengaluru) which focuses on delivering healthcare services through AI. The report is the result of in-depth market research and consultation conducted by Praxian Global Private Ltd who has been supported by the STPI. The report highlights the industry trends, enablers & inhibitors, policy & regulatory status and through these create a better understanding of the AI applications in healthcare and thereby encourage AI innovations.
AI in healthcare in India can be a game-changer in multiple ways. It can make healthcare services affordable and available at remotest areas and bring in more efficiency in areas where it already exists. Given this background, the report highlights some key points healthcare systems has improved a lot in the last decade and has become more affordable. Ageing population with increasing burden of obese and diabetic population is driving the need for greater number of in-hospital as well as out-of-hospital interventions. The greatest challenge that the Indian healthcare is facing is low doctor-patient ratio. The other challenges are skewed distribution of expertise, affordability, inadequately trained staff and delayed detection and diagnostic errors. However, AI can play an active role at every step of the health care value chain. Different types of AI such as vision AI, conversational AI, sense AI and decision AI can be used at various stages. Through AI, healthcare is actually becoming more accessible and cheaper.
The report also points out that the market size of AI in the global healthcare market is USD 15 billion 2022. The USA leads the countries in terms of AI funding in healthcare followed by China, UK, Israel and India. While, in China, medical imaging is one of the most common applications of AI in healthcare industry, in India the market is still at a nascent stage. However, realizing the importance of integrating AI into mainstream education, the government’s National Education Policy 2020 is a right step in that direction.
Relevance of the Report
At a time when the global market for AI in healthcare is rising, understanding the technologies that would create the maximum impact is essential. The report gives a holistic view about the industry trends along with the challenges being faced. The report also gives insights from government initiatives and how the STPI is offering a number of value-added services for start-ups.
- AI in healthcare is a rising trend in the Indian health-tech landscape
- In recent years, healthcare has become more affordable with increased coverage of insurance, mostly driven by government-sponsored healthcare schemes
- Triaging, detection and diagnostics are the high focus and high impact areas for AI in healthcare
- AI in healthcare has the ability to solve a lot of challenges such as low doctor-patient ratio, inadequately trained staff and diagnostic errors
- The start-up ecosystem in the healthcare space is being challenged by funding, data for training, validation of models and market access. To solve these, STPI has stepped in to offer multiple services in the form of an incubator
- Need to work on a policy in lines with the global framework to enable “Made-in-India” solutions get adopted in the global market