News | Information Technology | March 08, 2017

Frost & Sullivan Analysis Projects Transformative Year for Healthcare in 2017

Value-based care continues to transform industry, driving need for targeted therapies

Frost & Sullivan, Healthcare Industry Outlook 2017 analysis, information technology, healthcare IT

March 8, 2017 — Despite global political uncertainties and a sluggish economic outlook for 2017, the global healthcare industry is set for an invigorating year, according to a new analysis from Frost & Sullivan. This outlook is due to a partial realization of major healthcare policies and initiatives, technology advancements and value-based care driving the adoption and need for consumer-centric targeted therapies. Future drugs and medical devices will be more targeted to meet the unique needs of emerging markets (e.g. China, India, Brazil) which demonstrate high growth opportunities compared developed markets (e.g., the United States and Western Europe. Growing at a CAGR of 4.8 percent, the industry is likely to reach revenue of $1,731.8 billion.

Current predictions and trends from the analysis encouraging transformation include:

  • Growth in remote patient monitoring (RPM) will start to accelerate beyond previous projections based on a convergence of regulatory, technology and ergonomic factors;
  • A selective churn in the mobile health app space will differentiate the small number of vetted apps that will emerge as the best choice for serious health users;
  • Life sciences and device industries will experience an increase in collaboration as well as merger and acquisition activities as they design products to prevent the onset of chronic and degenerative diseases;
  • Artificial intelligence (AI) will play an important role in helping radiologists better interpret scans, reduce scan times, improve workflow efficiency and improve quality. AI will also make medical implants smarter as a way to intelligently regulate specific health conditions;
  • Alternate payment models will drive the demand for next-generation revenue cycle management solutions. The adoption of alternative payment models will drive the usage of robust and agile analytics software that automates reporting and visualization of patient-specific information;
  • Immunotherapy will become part of the toolbox for treatment of various types of cancers. Immuno-oncology will remain hot as leading pharmaceutical companies race to market the first chimeric antigen receptor T-cell (CAR-T) therapy in 2017; and
  • Decreasing cost of next-generation sequencing tests to below the $1,000 mark will shift the application focus from research to clinical use cases.

The new analysis, Healthcare Industry Outlook, 2017, which is part of Frost & Sullivan’s Advanced Medical Technologies Growth Partnership Service program, explores how the global healthcare landscape is expected to evolve in 2017. It identifies key trends impacting the industry from lifesciences, medical technologies, remote patient monitoring, healthcare information technologies, care delivery and business model perspectives.

“2017 will be a tipping point for mainstream adoption of popular digital health solutions (e.g., wearables, telehealth), and transition of noble technologies from research to actionable clinical applications (e.g. POCT Dx tools, AI, robotics, and image-guided therapies),” noted Frost & Sullivan Transformational Health Research Analyst Kamaljit Behera.

For more information: www.frost.com

Related Content

#COVID19 #Coronavirus #2019nCoV #Wuhanvirus #SARScov2

Getty Images

Feature | Coronavirus (COVID-19) | April 03, 2020 | By Melinda Taschetta-Millane and Dave Fornell
In an effort to keep the imaging field updated on the latest information being released on coronavirus (COVID-19), th
Varian received FDA clearance for its Ethos therapy in February 2020. It is an adaptive intelligence solution that uses onboard AI in the treatment system to take the cone beam CT imaging on the system, compare it to the treatment plan and deliver an entire adaptive treatment plan in a typical 15-minute treatment time slot, from patient setup through treatment delivery.

Varian received FDA clearance for its Ethos therapy in February 2020, shown here displayed for the first time at ASTRO 2019. It is an adaptive intelligence solution that uses onboard AI in the treatment system to take the cone beam CT imaging on the system, compare it to the treatment plan and deliver an entire adaptive treatment plan in a typical 15-minute treatment time slot, from patient setup through treatment delivery.

Feature | Treatment Planning | April 03, 2020 | Dave Fornell, Editor
The traditional treatment planning process takes days to create an optimized radiation therapy delivery plan, but new
Recommended best practices for nuclear imaging departments under the COVIF-19 pandemic have been issues by the ASNC and SNMMI. #COVID19 #ASNC #SNMMI #Coronavirus #SARScov2
News | Coronavirus (COVID-19) | April 03, 2020
April 3, 2020 — A new guidance document on best practices to maintain safety and minimize contamination in nuclear im
Jeannie Danker, M.D. #COVID19 #Coronavirus #2019nCoV #Wuhanvirus #SARScov2

Jeannie Danker, M.D. Photo courtesy of The Ohio State University Wexner Medical Center

News | Coronavirus (COVID-19) | April 03, 2020 | By Melinda Taschetta-Millane
April 3, 2020 — The radiology world has lost a dedicated leader due to...
An example of Philips’ TrueVue technology, which offers photo-realistic rendering and the ability to change the location of the lighting source on 3-D ultrasound images. In this example of two Amplazer transcatheter septal occluder devices in the heart, the operator demonstrating the product was able to push the lighting source behind the devices into the other chamber of the heart. This illuminated a hole that was still present that the occluders did not seal.

An example of Philips’ TrueVue technology, which offers photo-realistic rendering and the ability to change the location of the lighting source on 3-D ultrasound images. In this example of two Amplazer transcatheter septal occluder devices in the heart, the operator demonstrating the product was able to push the lighting source behind the devices into the other chamber of the heart. This illuminated a hole that was still present that the occluders did not seal. Photo by Dave Fornell

Feature | Radiology Imaging | April 02, 2020 | By Katie Caron
A new year — and decade — offers the opportunity to reflect on the advancements and challenges of years gone by and p
#COVID19 #Coronavirus #2019nCoV #Wuhanvirus

Getty Images

Feature | Coronavirus (COVID-19) | April 02, 2020 | Jilan Liu and HIMSS Greater China Team
Information technologies have played a pivotal role in China’s response to the novel coronavirus...
#COVID19 #Coronavirus #2019nCoV #Wuhanvirus #SARScov2 the company is now offering a suite of AI solutions Vuno Med-LungQuant and Vuno Med-Chest X-ray for COVID-19, encompassing both lung X-ray and computed tomography (CT) modalities respectively all at once
News | Artificial Intelligence | April 02, 2020
April 2, 2020 — In the face of the COVID-19 pand
Improvised PPE face mask worn by a radiology technologist during rounds atSen. Gerardo M. Roxas Memorial District Hospital in Iloilo City, Philippines. #COVID19 #Coronavirus #SARScov2

Improvised PPE face mask worn by a radiology technologist during rounds at Sen. Gerardo M. Roxas Memorial District Hospital in Iloilo City, Philippines.

Feature | Coronavirus (COVID-19) | April 02, 2020 | Dave Fornell, Editor
There has been an extraordinary demand for personal protective equipment (PPE) with the rapid spread of the novel ...