HONG KONG, Jan 13, 2025 - (ACN Newswire via SeaPRwire.com) – As the wave of digital and intelligent transformation sweeps the world, Artificial Intelligence (AI) technology, as a core driving force behind the new round of technological innovation, is gradually becoming the focus of the healthcare industry.Recently, Microware Group Limited ("Microware", HKEX: 1985.HK,) and GAREA TECH announced the establishment of a strategic partnership. Both parties will work together, leverage their extensive expertise in healthcare and technology to advance the application of AI in medical practice. Together, they are committed to elevating the precision and quality of healthcare services to new heights, benefiting patients worldwide.As one of the leaders in Hong Kong's IT industry, Microware has been established for 40 years, serving 2,000 + clients per annum; 60% of the top 100 listed companies in Hong Kong; and providing services to 80 government units. In recent years, Microware has continuously increased its investment in AI solutions and infrastructure research and development. It has independently developed a new generation of enterprise AI productivity platform, dedicating itself to the deep integration of AI, 5G, big data and Internet of Things technologies, and innovatively applying to smart education, smart medical care, smart government and smart manufacturing.GAREA TECH, on the other hand, is a global leader in providing comprehensive digital healthcare solutions, dedicated to the digital transformation of primary healthcare and the innovation of smart health services. The company has launched the first intelligent general practitioner equipment and has promoted the "Primary Healthcare Service System" in multiple countries and regions worldwide. The collaboration between the two parties will focus on achieving the deep integration of AI and healthcare, offering an integrated smart healthcare solution for the Hong Kong medical market. This solution includes an all-in-one general practitioner workstation, case translation, multilingual real-time speech transcription, multilingual real-time translation, medical record generation, personalized medical databases, and efficient AI consultation tools. In the future, these products will be fully implemented in multiple hospitals and clinics in Hong Kong. Through this collaboration, Microware and GAREA TECH will leverage their cutting-edge technology resources and innovation capabilities to provide more convenient, efficient, and personalized medical services, jointly building a new AI healthcare ecosystem in Hong Kong.AI + Healthcare: Collaborative Innovation to Meet the Urgent Needs of Healthcare Service ReformHong Kong's healthcare system enjoys a global reputation for high efficiency. The average life expectancy of its residents ranks among the highest in the world - 80 years old for men and 86 years old for women. In terms of economic investment, Hong Kong allocates about 6% of its GDP in healthcare, which is relatively low by global standard. Despite this, it can maintain a high level of healthcare service quality and residents' health indicators, showing the efficiency and cost-effectiveness of its medical system.However, in-depth analysis shows that with the acceleration of population aging and the surge in the number of patients with chronic diseases, Hong Kong's current medical system is facing unprecedented challenges. According to the data of the Census and Statistics Department of the Hong Kong SAR Government, the population aged 65 and above accounts for 20.8% of the total population in 2022, and it is expected to rise to 31% by 2039. In 2020/21, the population suffering from chronic diseases will be 31%, about 2.2 million, of which the population aged 65 and above accounts for 47%. The changes in population structure have prompted Hong Kong's primary healthcare system to accelerate the reform of medical service models to meet the increasingly high demand for medical services.Confronted with numerous challenges within Hong Kong's healthcare system, the imperative for the integration and innovative deployment of AI technology has become exceedingly pressing. The AI solutions of Microware can cover more than 20 physical examination projects and complete the detection of more than 100 health indicators. Its self-developed new generation enterprise AI productivity platform, Microcraft, provides out-of-the-box AI applications including knowledge center, multilingual real-time speech transcription, multilingual real-time speech translation, complex document analysis and translation, and AI question and answering. It can not only significantly improve the quality and accessibility of medical services, but can also provide patients with more personalized and precise treatment plans. By utilizing advanced AI algorithms and big data analysis capabilities, it aims to improve overall healthcare efficiency and patient experience. In addition, relying on the significant advantages of GAREA TECH in communication technology, integrated application fields, etc., this cooperation will significantly accelerate the innovative transformation of Hong Kong's primary healthcare service model, and promote its entry into the forefront of digital and intelligent healthcare development.Policy Directive: Harnessing AI to Forge a Pioneering Healthcare Ecosystem in Hong KongMarket growth driven by social needs, coupled with the proactive guidance of policies, has created a powerful synergy that has jointly promoting the popularization and rapid development of AI in the medical industry. In the "2022-2027 Strategic Plan" released by the Hong Kong Hospital Authority, it is clearly proposed that smart medical care should be one of the core directions of future medical development. As the country continues to deepen "smart medical care", AI has become an important driving force for innovation in the medical industry.Additionally, the recently issued "Primary Healthcare Blueprint" by the Hong Kong SAR marks a significant step forward towards smart healthcare. The plan outlines the goals for strengthening Hong Kong's primary healthcare system, focusing on five key areas: building a robust primary healthcare framework, enhancing healthcare management at the grassroots level, integrating resources, strengthening the training of primary healthcare workers, and improving data exchange and health monitoring systems. This initiative aims to address the challenges posed by the aging population and the increasing incidence of chronic diseases.The launch of this policy not only underscores Hong Kong's commitment to improving public health and quality of life, but also provides a strong policy foundation for the development and application of AI technology in the healthcare sector.In this critical period when artificial intelligence is profoundly transforming the healthcare industry, the collaboration between Microware and GAREA TECH comes at an opportune moment. It not only represents a proactive response to these policies but also signals the arrival of a new era of comprehensive smart healthcare development in Hong Kong’s primary healthcare system.The Prospects of The Smart Healthcare Industry are Vast: A Powerful Partnership Deepening Market ExpansionWith the continuous maturity of AI technology and strong support from the policy level, the market of China's smart healthcare industry has shown a rapid growth trend. The latest "2022-2027 China smart healthcare industry development trend and investment risk research report" released by ASKCI Institute shows that with the advancement of science and technology and the improvement of people's health awareness, smart medical care is gradually becoming an important part of the medical system.In the past few years, China's smart healthcare industry has experienced unprecedented rapid growth. In 2023, the market size has reached an astonishing CNY 6.29 billion, showing a strong upward momentum. From 2019 to 2023, the average annual compound growth rate is as high as 53.37%, which fully reflects the vigorous development trend of China's smart medical industry. According to the forecast, by 2024, China's smart medical industry market will further grow to CNY 11.14 billion. This expectation not only reveals the urgent expectation of the current medical industry for digital transformation, but also shows its huge development potential and market prospects.Simultaneously, deep investment in technology research and development is pivotal to sustaining a competitive edge within the industry. With its breakthrough progress in multilingual real-time speech recognition and translation technology, Microware can support the real-time transcription and translation of Cantonese, Mandarin and English, and the analysis and translation of complex documents, which greatly meets the needs of patients in Hong Kong and other multilingual environments. At present, Microware’s equipment has been deployed by 130 clinics, with the goal of covering 3,000 clinics. This not only provides unprecedented convenience for primary healthcare services in Hong Kong, but also promotes the group's long-term strategic planning and layout in the medical field, injecting new impetus into the sustainable development of the industry.Moreover, as the collaboration between both parties deepens, the development of AI technology in the healthcare sector is bound to drive the collaborative growth of the related industry chain, including areas such as medical device manufacturing, software development, and data analysis. The penetration of these technologies will undoubtedly bring innovative opportunities to the healthcare industry, opening new avenues for business value.Guided by the light of technology, the collaboration between Microware and GAREA TECH marks not only an important milestone in the application of AI in Hong Kong's primary healthcare sector but also a bold exploration of the intelligent transformation of the healthcare industry. Looking ahead, both parties will integrate their multifaceted resources to jointly promote the development of smart healthcare. Through the construction of an intelligent development framework, they will provide a new paradigm for the innovation of healthcare service models in Hong Kong and around the world, leading us into a new era of more intelligent and efficient healthcare services. Copyright 2025 ACN Newswire via SeaPRwire.com.
