During the state conclave event in Lucknow, STPI released a knowledge report on “AI in the Healthcare Sector.” The paper addressed market trends, enablers and bottlenecks, regulatory and policy developments, etc. The report’s objectives are to raise awareness, improve understanding of the healthcare industry, and promote AI advancements.
This paper was created using the expertise of STPI’s CoEs for healthcare & AI, including Neuron (Mohali), Image (Hyderabad), MedTech (Lucknow), and AIC STPI (Bengaluru), as well as input from business and government.
The research states that the healthcare system in India has made significant advancements over the past ten years, increasing life expectancy and reducing the burden of disease being two examples. A growing number of in-hospital and out-of-hospital interventions are required due to an ageing population and the burden of obesity and diabetes. As a percentage of GDP, total healthcare spending has basically stagnated. However, the cost of healthcare has decreased with greater insurance coverage, largely due to the 800 M qualified beneficiaries of government-sponsored health insurance programmes.
Despite the fact that health and healthcare results have quickly improved over the previous five to ten years, there are still several difficulties. Artificial intelligence (AI) and digital technologies are working to overcome challenges with diagnostic issues and reach, human capital and skill resources, affordability, etc. According to the report, Vision AI,
Every link in the healthcare value chain uses conversational AI, sense AI, and decision AI.
The market for AI in healthcare is expected to reach US$ 188 billion globally by 2030, growing at a CAGR of 37%. With the use of AI in healthcare, the United States of America has been the top unicorn generator. One of the most popular uses of AI in China’s healthcare sector is medical imaging.
Despite being in its infancy, the Indian health technology market is anticipated to develop at a CAGR of 39% and reach US$ 5 billion by 2023. Additionally, the National Education Policy of 2020 in India places a strong emphasis on integrating AI into the classroom.
The federal and state governments have been actively developing new plans, programmes, and regulations for AI in healthcare. The paper urges the implementation of suitable governmental measures to control and lessen hazards related to AI and similar technologies. The report advises developing a policy in line with changing international frameworks for the use of AI in healthcare in order to increase adoption not only in India but also to have “made-in-India” AI solutions adopted in international markets.
