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AI Predicted to Propel Medical Devices Industry to $1.2 Billion by 2027, Indicates GlobalData Report

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News on Health 10th Nov 2023 ArdorComm Media Group AI Predicted to Propel Medical Devices Industry to $1.2 Billion by 2027, Indicates GlobalData Report

According to a report from GlobalData, a leading data and analytics company, the medical devices industry is anticipated to reach $1.2 billion by 2027, primarily fueled by the healthcare sector’s need to streamline processes, cut costs, and enhance accuracy in diagnosing an increasing number of patients with intricate medical profiles. Brian Hicks, Senior Analyst of Medical Devices at GlobalData, highlighted the widespread use of AI in healthcare, particularly in diagnostic settings, where AI algorithms expedite the identification of challenging image abnormalities that might be overlooked by the human eye. This advancement allows for a more comprehensive review of patient profiles while minimizing the risk of misdiagnoses. The report emphasizes that the driving force behind this surge is the adoption of computer vision technology, which finds applications in diagnostics across various medical specialties. Notably, AI’s contribution to reducing error rates in cancer detection has been well-documented, with studies indicating a significant decrease in pathologists’ error rates, from 3.4% to 0.5%, when AI was incorporated in identifying cancer-positive lymph nodes as far back as 2016. Hicks emphasized the accelerated pace at which AI can identify potential positive cases, allowing for a more rapid review of numerous patient profiles without compromising accuracy. The research reveals a notable concentration of AI-related investments in the medical imaging and diagnostic sectors, with many companies specializing in leveraging deep learning technology. Traditional MedTech companies, primarily focused on hardware and surgical instruments, have limited opportunities to integrate such advanced technologies into their products. Hicks underscored the critical role of AI in early detection, asserting that its ability to analyze challenging tissue abnormalities, symptoms, and intricate patient profiles will lead to earlier interventions and improved patient outcomes.

Indian Scientists Pioneer Innovative Nanoparticles for Detecting and Destroying Cancer Cells

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9abf0f5c 4235 43b7 aa19 af82577362f1 ArdorComm Media Group Indian Scientists Pioneer Innovative Nanoparticles for Detecting and Destroying Cancer Cells

Indian scientists from the Indian Institute of Science (IISc) have achieved a major breakthrough in cancer research with a novel approach for both detecting and eliminating cancer cells. Their innovation involves the creation of hybrid nanoparticles made from a combination of gold and copper sulphide. These nanoparticles have the unique ability to eradicate cancer cells by generating heat when exposed to light and also facilitate their identification through sound waves. These hybrid nanoparticles possess three key properties: photothermal capabilities, oxidative stress induction, and photoacoustic characteristics. When these particles come into contact with light, they absorb it and produce heat, effectively destroying cancer cells. Furthermore, they generate harmful singlet oxygen atoms that contribute to the cancer cell’s demise. In addition to their therapeutic potential, these nanoparticles also have diagnostic applications. They can absorb light and produce ultrasound waves, making it possible to detect cancer cells with high precision. This diagnostic capability could enhance the accuracy of cancer diagnosis because sound waves scatter less than light when passing through tissues, providing clearer images and more precise measurements of oxygen levels in tumors. One notable aspect of this innovation is its ability to overcome a limitation of previously developed nanoparticles: their size. Through a unique reduction technique, the IISc researchers managed to deposit tiny gold seeds onto the surface of copper sulphide, resulting in hybrid nanoparticles measuring less than 8 nm. These minuscule particles have the potential to navigate through tissues effectively, reach tumors, and exit the human body naturally without accumulating. These nanoparticles have undergone testing in laboratory settings using lung and cervical cancer cell lines. The next phase for the IISc team is to translate these promising results into clinical development, marking a significant advancement in the battle against cancer.