Healthcare

Growth Opportunities in Artificial Intelligence and Analytics in Surgery, 2020

Landscape and Opportunity Assessment in an Emerging Area

INDUSTRY
Healthcare

RELEASE DATE
01-Jun-2020
REGION
North America
DELIVERABLE TYPE
Market Research

RESEARCH CODE
K439-01-00-00-00
SKU
HC03292-GL-MR_24378
Yes
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Growth Opportunities in Artificial Intelligence and Analytics in Surgery, 2020
Published on: 01-Jun-2020 | SKU: HC03292-GL-MR_24378

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Artificial intelligence (AI) and analytics technologies are now being well accepted in healthcare, with bellwether clinical application areas (e.g., radiology), and operational application areas (e.g., revenue cycle management). One area of the hospital that perhaps needs the most attention, is the hospital operating room (OR). The OR is a hospital’s highest revenue generator but is also a high cost center. The OR is also ridden with inefficiencies and challenges that prevent hospitals from utilizing them to their fullest potential. On a clinical front as well, significant innovation leaps have eluded the surgery space. This has primarily been the result of mammoth manual efforts required to address those challenges. The advent of AI and analytics, however, is set to change the conventional OR and allied areas (e.g., endoscopy procedures).

AI and analytics have the ability to process large volumes of data and derive meaningful insights to guide the user toward efficiencies. Therefore, hospital OR managers who have hitherto been burdened with managing multiple challenges in running the OR, can now leverage on these technologies to the maximum potential. Surgeons also can leverage on the myriad applications of the technology to help at each stage of a surgery. On a broad scale, Frost & Sullivan segments this market in terms of application areas—clinical and operational. Clinical areas are further classified into surgery training solutions (for trainees and incumbent surgeons being trained on new devices or techniques), surgery preparation (pre-operative), surgery performance (intra-operative), surgery analysis, and surgery reporting (post-operative). The operational area seems majorly focused on scheduling accuracy and block utilization optimization solutions; however, there are a couple of solutions for surgical supply chain and case costing as well. Clinical solutions also depend on adjunct tools and technologies such as virtual reality (especially for training) and robotics. Although robotic surgery is another hot area with several developments, the lack of autonomy prevents it from being included in the scope of this study as an AI solution by itself.

Research Scope

This study covers the needs of the OR market, the current landscape of solutions across the two segments of clinical and operational offerings, the market forecast, regional analysis of the solutions, funding analysis for start-ups, the role of medtech and medical imaging equipment participants in terms of how they envision the ‘future of the OR’ and how start-ups could play a role in that vision, as well growth opportunities for the short and long terms.

Key Issues Addressed

  • Why is OR efficiency, both clinical and operational, important enough to target with AI and analytics solutions?
  • What kind of OR challenges are being addressed by AI and analytics solutions today and at what stage (pre-, intra- or post-surgery)?
  • Why are operational offerings likely to grow faster than clinical ones, despite being heavily outnumbered in the number of solutions available today?
  • What is the regional breakup of these solutions? Are there regional variations in the kind of solutions being developed and adopted?
  • How mature is the market, what are the growth opportunities, and how will larger incumbents in healthcare shape the future of this market?

Author: Siddharth Shah

Key Findings

Scope and Segmentation

Market Segmentation

Key Questions This Study Will Answer

AI and Analytics in the Surgery Landscape

Market Engineering Measurements

CEO’s Perspective

Key Companies to Watch

Executive Summary—3 Big Predictions

Background

Background (continued)

Operating Room—An Important Profit Center

Impact of OR Efficiency Improvement

Major Challenge Areas for Surgeries in Operating Rooms

Select Challenges Across Perioperative Stages of Surgical Care

Solution for OR Challenges—AI and Analytics

Market Segmentation

Definitions

Definitions (continued)

AI and Analytics in the Surgery Landscape

Merger, Acquisition, and Partnership Assessment

Market Drivers

Drivers Explained

Market Restraints

Restraints Explained

Market Engineering Measurements

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Revenue Forecast by Segments

Revenue Forecast by Segments Discussion

Regional Revenue Splits

Technology Revenue Splits

Surgery Stage Revenue Splits

Clinical Offerings Landscape

Clinical Offerings by Country

Revenue Split by Subsegment

Revenue Split by Subsegment Discussion

Innovative Solutions

Innovative Solutions (continued)

Operational Offerings Landscape

Operational Offerings by Country

Revenue Split by Subsegment

Revenue Split by Subsegment Discussion

Innovative Solutions

Start-up Funding Analysis

Start-up Funding Analysis (continued)

Start-up Funding Analysis Discussion

Sector-wise Focus Areas

Medtech Objectives in Surgery AI and Analytics

Medical Imaging and Informatics Objectives

Medtronic Initiatives for Surgical AI and Analytics

Select Medtech Participants’ Surgery AI and Analytics Initiatives

Select Medtech Participants’ Surgery AI and Analytics Initiatives (continued)

Future Direction for use of AI and Analytics in Surgery

Mergers and Acquisitions—The Way Forward

Savings Potential With AI and Analytics Solutions

Strategizing Opportunities

Growth Opportunity 1—New Clinical Offerings

Growth Opportunity 2—Hospital-wide Operational Offerings

Growth Opportunity 3—Holistic Efficiency Solutions

Growth Opportunity 4—Geographic Expansion

Growth Opportunity 5—Addressing Clinical Variation

Strategic Imperatives for Success and Growth

3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)


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