INDUSTRY NEWS

Pharmaceutical Giant Johnson & Johnson Acquires Robotic-Surgery Firm Auris for $3.4 Billion

Published Date | 2019 February 15

Johnson & Johnson is bulking up on its surgical robotics presence by acquiring Auris Surgical Robotics for $3.4 billion is all set to push the growing Artificial Intelligence market in Healthcare.
Global: Johnson & Johnson is purchasing privately held surgical robotic technologies manufacturer Auris Health for about $3.4 billion in cash. Another $2.35 billion could be added to the deal in aggregate if the company will reach certain undisclosed milestones. Auris is currently focusing on lung cancer treatment and has developed robotic surgical scopes operated with a handheld device that is steered into patients’ lungs to identify cancerous tumors. Auris will now be a part of J&J’s medical-devices division. J&J, the world’s largest maker of health-care products, also has a robotic-surgery company called Verb Surgical Inc. that it formed with Verily Life Sciences, part of Google parent Alphabet Inc., in late 2015. Moll will also join J&J after the closing of this acquisition, which is expected by the end of the second quarter. He was the founder of Intuitive Surgical Inc., a pioneer in robotic laparoscopic surgery tools, now valued around $60 billion. Through this acquisition, in this new era of health care, it can help to simplify surgery, drive efficiency, reduce complications and improve outcomes for patients, ultimately making surgery safer. Artificial Intelligence in Healthcare MarketAccording to Analyst at BlueWeave Consulting, The introduction of Artificial Intelligence (AI) will boost the healthcare revolution. The growth of AI in the healthcare market is power by the ability of AI to improve patient outcomes, need to increase coordination between healthcare workforce & patients, increase in adoption of precision medicine, and rise in venture capital investments. In addition, the rise in importance of big data in healthcare is expected to fuel market. The market is expected to witness moderate growth during the forecast period, owing to the rise in adoption of AI systems. Furthermore, technological advancements in AI systems are anticipated to expand the market. The perspective of AI-based tools for elderly care and the untapped potential of emerging markets, such as China and India, are expected to present various opportunities for market expansion. The big-data approach towards disease detection and prevention is a unique attribute towards the healthcare sector which focuses on the different factors that will help to maintain a healthy approach towards life. The market has huge potential across various end users such as hospitals, healthcare payers, and pharmaceutical and, biotechnology companies. Increasingly large and complex data set available in the form of big data and growing need to reduce the increasing healthcare cost drive the growth of this market. Improving computing power and declining cost of hardware are other key factors driving the AI in healthcare market. The present healthcare system primarily focuses on giving solutions and treatments which help in the treatment for a large population with the same symptoms. It is basically done on the basis of data and evidence which are collected after medical tests. But soon this scene is going to change, with the help of genome sequencing and data generated by health sensors combined with the huge bulk of Big Data of the patients will create huge data with information that are valuable which will help in the tailored treatments. However, a single physician is not well equipped to analyze these data manually. So, with the help of AI healthcare sector is ready to conquer the sector, doctors and researchers can predict accurate treatment and prevention strategies for a particularly given disease Machine learning with AI helps to identify patterns with high volume genome set data. According to BlueWeave Consulting‘s upcoming report ,Titled-“ Global Artificial Intelligence in Healthcare Market, By Solution (Hardware and Software & Services), By Technology (Speech Recognition, Querying Method, Natural Language Processing, Machine Learning, and Context Aware Processing), By Application (Imaging & Diagnostics, Drug Discovery, Lifestyle Management & Monitoring, Emergency Room & Hospital Management, Insights & Risk Analytics, Wearables, Virtual Assistants, and Others), By End User (Hospitals, Pharmaceutical Organizations, Diagnostic Centers, and Clinics), By Region, Size and Forecast 2018- 2025”- The Artificial Intelligence In Healthcare Market is estimated to grow significantly over the upcoming years. The market has huge potential across various end users such as hospitals and providers, healthcare payers, and pharmaceutical and biotechnology companies. Increasingly large and complex data set available in the form of big data and growing need to reduce the increasing healthcare cost drive the growth of this market. Improving computing power and declining cost of hardware are other key factors driving the AI in the healthcare market.