Published on : Nov 20, 2017
Albany, NY, Nov 20, 2017: The report studies every facet of the market to uncover its overall revenue, size, competitive dynamics, and growth prospects, going forward. It carefully examines the growth drivers and trends shaping the trajectory of the market. The aim is to help stakeholders gather a thorough understanding about the current trends and vulnerabilities of the market.
While the tech industry has often been blamed for creating costly cancer immunotherapy products and services meant for the wealthy, the cancer immunotherapy startups as well as big companies are now leveraging artificial intelligence (AI) algorithms which can be accessible to all. Cancer immunotherapy hospital artificial intelligence market was valued at US$7.4 bn in 2017. By 2023, it is forecasted to become worth US$49.4 bn.
Such artificial intelligence systems are an extremely specialized kind of care delivery and is expected to see increasing uptake since acutely ill patients in advanced stages of cancer can be successfully cured with immunotherapy. For example, automated cancer immunotherapies by IBM Watson are powered with artificial intelligence that examines samples of patients to uncover the genetic characteristics of the cancer and separate the immune particularities of the patient. The systems are capable of taking a multi-disciplinary integrated approach to scrutinize scans and imaging. Since analysis of patient records and finding out about the effectiveness of particular treatments can be a cumbersome task, artificial intelligence is being leveraged for that. It scans those to extract pertinent information and chart a personalized treatment plan. It is also capable of suggesting which treatments should not be pursued and provides relevant studies to back up its proposals.
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Further physician-scientists at the world famous Memorial Sloan Kettering are renowned for engineering novel immune therapies that are effective against various types of advanced cancer that were incurable before. They developed and tested the immunotherapy drugs called checkpoint inhibitors that uncork the brakes on the immune system.
Artificial intelligence can be particularly helpful for hospital care management since it can offer tailor-made information about individual patients thereby helping to personalize immunotherapy care delivery. Artificial intelligence helps providers address healthcare delivery by keeping a track of genetic specificity of individual patients.
The combination of artificial intelligence with healthcare presents a unique opportunity for the market. Companies are coming up with new strategies to usher in artificial intelligence to healthcare. To that end they are partnering with relevant institutes come up with cutting-edge solutions. In fact, artificial intelligence has the capability to revolutionize the entire healthcare operations and impact patients, doctors, hospitals, and clinical facilities.
The ability of cognitive computing to uncover useful insights from data without any human intervention can change the face of healthcare delivery system. It banks upon unsupervised and semisupervised machine learning techniques. Anomaly detection, segmentation, dimensionality reduction, and pattern recognition are supplanting supervised manual techniques for diagnosis and care.
Some of the key players operating in the global cancer immunotherapy with artificial market are General Electric, Quest Diagnostics, IBM, Alphabet/Google, Prognos, GlaxoSmithKline (GSK), Merck, Safeguard Scientifics, and Zebra.
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