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Growth Opportunities in Artificial Intelligence and Analytics in Surgery, 2020
Landscape and Opportunity Assessment in an Emerging Area
01-Jun-2020
North America
Market Research
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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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
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Siddharth Shah |
| Industries | Healthcare |
| WIP Number | K439-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9600-B1,9566-B1,9570-B1,9A47-B1,9A48-B1,9A4B-B1,9614-B1 |