The advent of computers has left no field untouched. Computers are being increasingly used in the area of medicine where it could soon replace the normal physician or surgeon. While the tools aren’t leaving the operation theatre anytime soon, their company is going to change to 3D printers, VR or Virtual Reality Interfaces and nano-robots.
In a few years, it could be considered extremely mainstream to see patients being diagnosed with “wearable” electronics and electronic armbands barring any direct involvement of a physician. Devices which, once inserted into the human body, working as “sensors” to detect illness symptoms can turn into reality. Maybe diseases like Alzheimer’s, cancers could be detected early on. The possibilities remain endless.
Computerised medicine will accumulate Artificial Intelligence(AI) which can revolutionise the sector. The knowledge of AI is currently being harnessed effectively, and the forever rising field of health care is leveraging it to attain greater goods for humanity.
The projection for computer vision in healthcare can reach to USD 2550 million by 2027 from USD 210 million in 2018, standing at a CAGR of 31.9% during the forecast period. The growth of this market is mainly accelerated by the rising demand for computer vision systems in the healthcare industry, big data in medicine, initiatives by government to increase the adoption of AI-based technologies, and the use of computer vision in precision medicine.
Segments which are expected to grow at the highest CAGR in the computer vision in healthcare market are medical imaging and diagnostics. The key reasons to use computer vision for medical imaging & diagnostics, are increase in quality, accuracy, early detection and predictability of certain diseases. When it comes to end users, healthcare providers account for the largest in the healthcare market.
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Predictions are that registrations by healthcare providers would be the highest CAGR during the forecast period. Factors such as the growing adoption of computer vision solutions in hospitals and focus of companies on developing AI and computer vision tools to improve hospital operations are push growth in the end user segment.
Data as analysed by MarketsandMarkets.
The Indian pharmaceutical sector stood at a value of US$ 33 billion in 2017. Expansion at a CAGR of 22.4 per cent over 2015–20 to reach US$ 55 billion is expected.
Pharmaceutical exports were at US$ 17.27 billion in FY18 and have marked at US$ 19.14 billion in FY19. Pharmaceutical exports combine bulk drugs, formulations, intermediates, biologicals, Ayush & herbal products.
US generics market valued at US$ 70-80 million include 30% (by volume) and around 10% (value) by India.
The country’s biotechnology industry including bio-pharmaceuticals, bio-services, bio-agriculture, bio-industry and bioinformatics can grow at an average growth rate of around 30% a year and reach US$ 100 billion by 2025.
The global computerised medicine market is estimated to be worth USD 5.1 billion in 2019 and is expected to reach USD 6.6 billion by 2025, at a CAGR of 4.6% from 2019 to 2025. Strong growth in the next 6 years because of rising incidents of chronic diseases, implantable devices, rise in expenditure on healthcare across the world, and increase in elderly population.
Scope of Computerised Medicine
There is tremendous scope for computerised medicine as the sector keeps on growing. Medical tourism, chronic ailment treatments, discovery of new diseases, study of origination of diseases are some of the key driving factors.
Research involves collection of humongous amount of data. This data needs to be compiled, analyzed and interpreted. Application of certain statistical approaches Certain statistical is required. These can be time consuming therefore the use of AI would fasten the process of availability of data for further research.
Clinical laboratory aims to provide accurate results in short time. THIS includes blood chemistry, photometry, microbiology, etc. Results must match with the correct patient and should be accurate. Quick access to laboratory system contributes to efficient care for patients.
Computer Assisted Decision making (CMD)
An innovative interactive computer system can directly assists doctors on tough clinical decisions. It can support doctors, complementing their natural abilities to make judgment added with computer's vast memory, reliability and accuracy capabilities.
Care of critically ill patients
Optimization of chances of survival for critically ill patients includes various therapeutic treatments which requires frequent collection of variables to derive data. This data might lose significance if it isn’t presented in an accurate manner. In the intensive care unit it is now possible to computerise the total management of data recorded on the patients.
Computer assisted therapy Monitoring of dosages regimens of potentially toxic drugs is required. The physician can plan dosage regimens by selecting a target peak total body concentration of a drug.
The high importance of CT scan, MRI, ultrasound, and gamma cameras lead to the development of dedicated hardware/software. Three dimensional images of living human anatomy, regional physiology and biochemistry in health and diseases are in use.
Possible Innovation and Future Scope
Use of mixed reality
Surgeons can use AR to project life-saving information into their eyesight during operations, VR in psychiatry to treat phobias efficiently, and mixed reality is able to bring revolutionary novelties to medical education, or pre-operative surgical planning, among others.
Brain-computer interfaces for the paralyzed
Brain implants today are now equal to laser eye surgery decades ago, retinal chips for perfect eyesight, memory chip bestowing you with almost limitless memory are all innovations in line.
Neuroprosthetics have made their way into the market, implants for people with Parkinson’s disease send electrical pulses deep into the brain, activating some of the pathways involved in motor control.
3D printing of drugs
3D printing has grown manifolds, biotechnology industry is working on printing out living cells.
3D drugs will dissolve faster than traditional drugs. This will also help in giving drugs attractive shapes so that they can be consumed by children easily.
Immunotherapy has taken cancer treatment to a storm by leveraging the immune system to fight tumors. In particular, immune checkpoint inhibitors have demonstrate great potential in the treatment of solid-tumor types, such as melanoma and non-small cell lung cancer. Someday immunotherapy might eradicate cancer from the world.
The global digital health market was at $179.6 billion in 2016, as reported by Transparency Market Research (TMR). Rise at a CAGR of 13.4% between 2017 and 2025 is projected, reaching $536.6 billion by the end of 2025.
Medicine spending in India is expected to grow by 9-12 per cent over the next five years, leading India to become one of the top 10 countries in terms of medicine spending.
The computerised medicine industry is growing manifolds at strong rates. Improvement in accuracy and quality of treatments is the aim for addition of technology in the medical scenario. The possibilities are endless.