Earlier this year, consulting firm Frost & Sullivan predicted that in the next few years, artificial intelligence in the healthcare industry would have a “high-profile market growth†that is expected to reduce overall medical costs by half.
Frost & Sullivan analyst Harpreet Singh Buttar said, "By 2025, artificial intelligence systems will involve everything from population health management to answering specific patient inquiries."
We identified 32 companies that have used machine learning and predictive analytics to reduce drug development costs, provide virtual assistant services to patients, and diagnose diseases through medical imaging.
The 32 startups have raised more than $530 million.
This year, New York-based AiCure raised $12.3 million in Series A, and NSF-funded Cloud Pharmaceuticals received $350,000 from undisclosed investors. Babylon Health, a London-based health care startup, has invested $25 million in Series A, including Google's DeepMind Technologies and Hoxton Ventures. According to reports, this year, the company will launch a speech recognition interface similar to Siri.
Khosla Ventures has voted for five companies on the list: Ginger.io, Calif., a company focused on patients with depression and anxiety; Lumiate, a health analysis platform; MetaMind, California; and Zebra Medical Vision, Israel, both companies Apply artificial intelligence to medical imaging; and drug development company Atomwise.
The most-invested on the list is WellTok, a Colorado-based health optimization platform that has partnered with IBM Watson to provide personalized medical health guidance to consumers.
Patient monitoring startup, California-based Sense.ly developed a virtual care assistant, Molly, to follow up after the patient was discharged from the hospital. According to the company, Molly returned the clinicians 20% of the day. In drug discovery, such as Atomwise, Numerate, and twoXAR are using machine learning to reduce the time and money invested in discovering new therapies.
The following market profiles classify these companies by specific type.
Almost all startups are supported by VC, and a few are supported by accelerators or PEs.
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