Artificial Intelligence Set To Dominate Operating Rooms By 2024 -- Frost & Sullivan

A study from Frost & Sullivan claims that by 2024, the artificial intelligence (AI) market for surgery will reach $225.4 million up from $69.1 million in 2019. The use of AI and analytics in conventional operating rooms will help hospitals address inefficiencies and clinical challenges physicians face when performing surgery, according to this new study.

Siddharth Shah, Transformational Health Program Manager at Frost & Sullivan, said that patients would be end-beneficiaries of these solutions that better help the surgeons perform their job.

"Some of these solutions can help determine the risk of complications even before a patient is wheeled into the operating room so that doctors can preempt those, and ensure smoother surgeries, and faster recovery," said Shah. "Having an AI or analytics solution supporting surgeons only enhances their skill set further, meaning patients have improved outcomes."

Shah adds that benefits, such as fewer complications, re-admissions, or need for corrective surgeries and earlier recoveries, also mean healthcare costs go down. "In effect, these achieve the quadruple aim of healthcare: enhanced patient experience, increased provider satisfaction, improved outcomes, and lower costs," said Shah.

However, the study also indicated that due to Covid-19, the adoption of AI and analytics solutions would be slower in 2020. According to a press release, the study revealed that operational solutions that help hospitals manage their strained resources could still see higher adoption once the crisis subsides.

COVID-19 notwithstanding, the study found that there will be significant mergers and acquisitions in the start-up market by 2025, with Medtech and medical imaging companies augmenting existing offerings. In addition, augmented reality, virtual reality, and robotics will augment AI and analytics in the surgery market to build clinical offerings targeting new areas that aren’t currently being served.