Artificial Intelligence (AI) and Analytics have been buzz-words in the medical field for several years now. Despite initial hesitancy from physicians, their use to guide and assist in healthcare practice has increased pace with the growing acceptance of their place in the medical world. Signify Research recently assessed the use of analytics and AI-based applications in the high acuity and perinatal care segments, providing both a quantitative assessment on market size, and a review of the core vendors active within the space.
Use of AI and Analytics in HAC and Perinatal IT
Signify Research defines the use of AI and Analytics in clinical care as an analytic dashboard, or AI-based clinical application, using real to near real-time analysis to provide predictive tools to help support clinical decisions in the high-acuity and/or perinatal care settings. Analytics are
targeted to improve operational workflow and clinical outcomes. Signify’s assessment includes only paid-for applications or modules that are not included in the wider high acuity and perinatal information system solutions.
The use of data analytics and software tools that can help support the physician to make clinical decisions has increased significantly in the last few years. The pandemic further prompted a flurry of development of COVID-19-specific algorithms to help alert care givers to patient deterioration, specifically in ventilated patients in the ICU. Subsequently, the pandemic has ‘softened’ opinion toward artificial intelligence, with many physicians now seeking solutions that will aid their workflow and not add to it. Although these may prove beneficial in the short-term, COVID algorithms are likely to be commoditized and be offered as part of IT software solutions that address multiple acute or chronic conditions.
The pandemic has also highlighted the need for tools to help care for patients in resource restricted environments; more recently, several new products have been launched specifically in the ICU setting. Signify Research projects that the global market for Analytics and AI-based Applications used in High Acuity and Perinatal care settings is projected to increase from just over $70 million in 2020 to just under $180 million by 2025.
Vendors with analytics and AI-based applications for high acuity and perinatal settings
Brazilian-based Epimed’s ICU monitor is used at more than 1000 intensive care units; the Epimed Monitor ICU Database compiles data from over 2.5 million patients, providing benchmarking with other ICUs (in real-time) for comparison of performance indicators, resource use and outcomes. Epimed Monitor Performance system predicts the ICU Length of Stay (LOS) and the risk for prolonged ICU stay according to diagnostic groups.
Etiometry is focused on predictive analytics and clinical decision support. Etiometry’s Risk Analytics Engine uses model-based algorithms and patient-specific data to help clinicians identify stages of clinical deterioration and improve the management and health of individual patients.
Google Health’s DeepMind Streams solution encourages collaboration amongst clinicians and supports them to visualize patient health trends, curate patient lists, spot signs of deterioration earlier, and receive notifications about preventable conditions like acute kidney injury (AKI).
Ambient Clinical Analytics provides software solutions that focus on acute care settings and emergency departments. Its range of solutions provide smart notifications to improve critical timeliness of care and elimination of errors.
VigiLanz offers solutions varying from pharmacy and safety surveillance to infection prevention. VigiLanz can provide rules, reports, and real-time alerts tailored to the hospital’s specific requirements for infection control.
DECISIOInsight proactively identifies risks and reduces the time to intervention using real-time clinical surveillance with data visualization to improve the quality and cost of care. It consists of clinical and analytic dashboards.
The AlertWatch platform provides a more complete picture of a patient and attempts to eliminate the alarm fatigue that is commonplace with competitive monitoring and surveillance solutions. The AlertWatch solution utilizes real-time data to provide an integrated patient monitor software.
Clew Med is an Israeli start-up that is focused on developing an AI-based analytics tool for use in the ICU, with development for other care settings.
AiiIntense is a French start-up that is focused on developing AI-based clinical decision support and analytics. The AiiNTENSE solution works in conjunction with Epimed Solutions, which has 800 references in ICU – which it is using as a benchmark in the ICU in North America, Latin America and more recently in Europe.
Where to next?
Although it will remain the smallest segment within the high acuity and perinatal IT market, the market for analytics and AI-based applications is projected with the fastest average annual revenue growth from 2020 to 2025. Despite the fast growth projected, significant investment is required to meet stringent regulatory requirements in many of the mature regions and this will slow new product introductions. Countries with lower regulatory controls are seeking solutions earlier and represent good targets for initial product launches. A significant uplift in the number of solutions specifically targeted toward the ICU was seen in 2020, with regulatory approved products already gaining traction in 2021. It is also expected that analytics and AI-based apps will be required to deal with patient backlogs in routine surgery, opening-up further opportunity within the high acuity market. With increasing progression toward value-based care, the benefits that analytics and AI-based applications offer to monitor care provision and improve patient safety will result in faster uptake. The perinatal IT market is also a segment that has become more open to the use of predictive analytics to help reduce infant mortality during childbirth.
About the Report
“High Acuity and Perinatal IT Report – World – 2021” provides a data-centric and global outlook of the high acuity and perinatal clinical information systems markets. The report blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market.
About Signify Research
Signify Research is an independent supplier of market intelligence and consultancy to the global healthcare technology industry. Our major coverage areas are Healthcare IT, Medical Imaging and Digital Health. Our clients include technology vendors, healthcare providers and payers, management consultants and investors. Signify Research is headquartered in Cranfield, UK. To find out more: firstname.lastname@example.org, T: +44 (0) 1234 436 150, www.signifyresearch.net