IDC: Over Half of Healthcare and Life Sciences Organizations in Asia/Pacific* are Prioritizing Budgets for GenAI

Contact

• Miguel Carreon  Email: mcarreon@idc.com
• Michael De La Cruz  Email: mdelacruz@idc.com
• Manoj Vallikkat  Email: mvallikkat@idc.com

IDC expects the Healthcare and Life Sciences Sector Spending on GenAI to Exceed $1.5 Billion by 2027

SINGAPORE, 16 July 2024 – Over half of Healthcare and Life Sciences organizations in Asia/Pacific are planning to have dedicated budgets for GenAI projects for timely investments, according to a recent IDC report, GenAI in Healthcare and Life Sciences: Current Trends and Future Potential in Asia/Pacific . IDC expects Asia/Pacific to be the fastest-growing region in Healthcare and Life sciences GenAI spending.

This IDC report delves deeper into the current GenAI adoption trends, focus areas, organizational challenges, and preferred vendor attributes by Healthcare and Life Sciences organizations in Asia/Pacific. The report also provides a dashboard view of the use cases sourced from the IDC GenAI Taxonomy report and maps these use cases with specific case studies by major healthcare providers and life sciences organizations from the region.

The report also features tech providers covered in the case studies by detailing their unique GenAI capabilities and offerings.

Other highlights of the report include:

• 77% of healthcare and 53% of life sciences organizations in Asia/Pacific are focusing on proofs of concepts (POCs) and use case identification for GenAI projects
• Asia/Pacific will be the fastest growing region in healthcare GenAI spending, accounting for around 15% of the global spending by 2027
• Regulatory risks and higher infrastructure costs are the topmost limiting factors for GenAI adoption in healthcare organizations
• Robust data security capability and intuitive AI models are the topmost capabilities CIOs look for in a software provider to develop GenAI solutions

“GenAI adoption in healthcare and life sciences, though at its nascent stage, is set to have a significant impact on enhancing clinician efficiency, improving workflow productivity, and hyperpersonalization of patient experience. Currently, there is increased priority towards POCs as part of GenAI model deployments, this is set to transition to full-fledged deployments supported by matured clinical data sets, regulatory support, enhanced skill sets, and alignment of GenAI use cases with organizational priorities,” says Manoj Vallikkat, Senior Research Manager, Health Insights, Asia/Pacific.

For more information on this IDC document, please contact Manoj Vallikkat at mvallikkat@idc.com. For media inquiries, please contact Miguel Carreon at mcarreon@idc.com or Michael de la Cruz at mdelacruz@idc.com.

*Asia/Pacific including Japan

-Ends-

IDC Health Insights

IDC Health Insights assists health businesses and IT leaders, in making more effective technology decision by providing insightful fact-based research and consulting services. Our global research analyzes and advises on business and technology issues facing the payer, provider and life sciences industries. For more information, please visit www.idc.com/insights/health or email info@idc-hi.com .

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

Coverage