September 20, 2023

Weekly Business Insights 09/20/2023

Reliable connectivity is a prerequisite for powering solutions. Medical Supplies Market worth $163.5 billion by 2027. Health systems ramping up AI expertise


Reliable connectivity is a prerequisite for powering solutions

When considering where AI can deliver value, it is advisable for hospital and health system leaders to start in two areas. The first is in high-volume activities that could benefit from advanced decision support and potentially automation. Introducing AI to those workflows can alleviate redundant activities and free staff to focus on the more human-centric aspects of care delivery. Looking into areas of greatest risk is another area organizations may focus on to leverage AI. “These may include areas that could jeopardize patient outcomes, create financial problems or have a negative impact on the workforce,” Dr. Gall said. “Look for ways that AI could alleviate those pain points.”

Many of the ”low-hanging-fruit” AI opportunities in healthcare relate to operational and administrative tasks. “The stakes aren’t as high for these types of tasks as they are for things like patient diagnosis or patient management,” Dr. Akhtar said. “AI tools for operational and administrative work can be deployed relatively quickly to reduce inefficiencies and generate cost savings.”


Medical Supplies Market worth $163.5billion by 2027

As per the recently published report by Markets and Markets™, The report "Medical Supplies Market Size, Growth by Type (Diagnostic supplies, Dialysis Consumables, Disinfectants, Catheters, Radiology Consumables), Application (Urology, Cardiology, Radiology, IVD), End-User (Hospitals, Clinics & Physician Offices) - Global Forecast to 2027", is projected to reach USD 163.5 billion by 2027, at a CAGR of3.4%.

Someof the prominent key players are: Medtronic plc (Ireland), Cardinal Health(US), BD (US), Johnson & Johnson, Inc. (US), B. Braun MelsungenAG (Germany), Boston Scientific Corporation (US), Thermo FisherScientific, Inc. (US), and many more.

Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Medical Supplies Market.

Sample Request - Medical SuppliesMarket Revenue Trends and Growth Drivers | MarketsandMarkets

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