The healthcare industry continues to be a hotbed of innovation, with activity driven by telemedicine, real-time diagnostics, smart hospitals and access to digital therapies, as well as the growing importance of technologies such as artificial intelligence (AI), the Internet of Things (IoT), augmented reality (AR), robotics and data management practices. In the last three years alone, there have been over 106,000 patents filed and granted in the healthcare industry, according to GlobalData’s report on Artificial Intelligence in Healthcare: AI-assisted medical reporting.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
200+ innovations will shape the healthcare industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the healthcare industry using innovation intensity models built on over 443,000 patents, there are 200+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, drug delivery device security, microscopic image analysis models, and cellular imaging techniques are disruptive technologies that are in the early stages of application and should be tracked closely. Smart balloon catheters, automated immunoassay analysers, and AI-assisted MRI are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are smart fitness training system and non-invasive physiological monitoring, which are now well established in the industry.
Innovation S-curve for artificial intelligence in the healthcare industry
AI-assisted medical reporting is a key innovation area in artificial intelligence
Artificial Intelligence (AI) in medical records can be used to spot trends and make a prognosis about outcomes. The information can then be utilised to individually tailor therapies that are best suited to meet a patient's needs and goals.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 10+ companies, spanning technology vendors, established healthcare companies, and up-and-coming start-ups engaged in the development and application of AI-assisted medical reporting.
Key players in AI-assisted medical reporting – a disruptive innovation in the healthcare industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to AI-assisted medical reporting
|Company||Total patents (2010 - 2021)||Premium intelligence on the world's largest companies|
|People.ai||142||Unlock company profile|
|Enlitic||57||Unlock company profile|
|Koninklijke Philips||51||Unlock company profile|
|International Business Machines||33||Unlock company profile|
|SymphonyAI Group||11||Unlock company profile|
|Medtronic||10||Unlock company profile|
|Canon||9||Unlock company profile|
|Twin Health||8||Unlock company profile|
|Petuum||8||Unlock company profile|
|Teladoc Health||8||Unlock company profile|
|Beijing Electronics Holding||7||Unlock company profile|
|Siemens||7||Unlock company profile|
|Clarify Health Solutions||6||Unlock company profile|
|Oracle||6||Unlock company profile|
|Modernizing Medicine||6||Unlock company profile|
|Terumo||6||Unlock company profile|
|UnitedHealth Group||5||Unlock company profile|
Source: GlobalData Patent Analytics
People.ai is the leading patent filer in the AI-assisted medical reporting market. Some other leading patent filers include Enlitic and Koninklijke Philips.
In terms of application diversity, People.ai leads the pack, followed by Enlitic and Petuum. With regards to geographic reach, United Health Group leads, followed by Koninklijke Philips and Medtronic.
The adoption and integration of AI in medical records help in the identification of patterns and prediction of results in healthcare. It enhances accuracy and aids physicians in making good clinical decisions and evaluating care management plans.
To further understand how artificial intelligence is disrupting the healthcare industry, access GlobalData’s latest thematic research report on Artificial Intelligence (AI) in Healthcare.