This study predicts the ways that artificial intelligence, care coordination cybersecurity, data analytics, digital therapeutics, and telehealth will drive the digital health market in 2020. The report presents 9 predictions that are likely to prevail by 2020. Frost & Sullivan defines digital health as the application of data to the delivery of healthcare, using computational and telecommunications technologies, to support business process workflow, clinical workflow, and patient data management. The goal of digital health is to achieve better patient outcomes while improving efficiency and containing costs. Digital health is multidisciplinary, but primarily focuses on three domains: health process automation, patient engagement, and mobility.
The study reflects on progress by innovative digital health solutions to leverage cloud-based IT to capitalize on the vast new resources of clinical, financial, socioeconomic, and other data generated across the health ecosystem. Patient information is captured by electronic health records (EHRs), connected medical devices, and smartphones. The predictions are important to all healthcare providers, payers, patients, caregivers, and investors because they provide a view of the ways that robust data sets can be used to develop new insights that can improve the quality and efficiency of healthcare and enable new, innovative IT solutions, to engage consumers. Frost & Sullivan is confident that digital health solutions offer great promise for new care delivery models, expanded access, improved outcomes and efficiency, and, ultimately, greater value to all stakeholders.
The predictions apply to global healthcare markets. Frost & Sullivan’s team of expert analysts predict that healthcare will evolve from an IT market that was composed primarily of revenue associated with EHR and billing systems and services to a market that is increasingly incorporating advanced technologies such as analytics, cybersecurity, telemedicine, and other specialty areas such as femtech and IT-enabled employee health management.
Predictions include expected breakthroughs in AI, cybersecurity, digital therapeutics, remote patient monitoring, femtech, Big Data, IT-enabled employee health management, telehealth, and data analytics. For example, this outlook emphasizes the importance of cybersecurity to protect solutions across the global healthcare market.
The research was based on the findings of an expert team of analysts that noted several recurring themes visible across all global markets. These include an aging population, a rising prevalence of chronic diseases, anticipated medical staff shortages, long wait times (both to get appointments and in crowded offices), universal concerns about quality of care, and the need for a common technical platform.Evolving technologies that are covered include facial recognition, blockchains, cloud computing services, natural language processing, interactive virtual assistants, AI, and 5G wireless networks.
The report concludes that digital health is a growing, but complex market. This space will enjoy overall 5-year compound annual growth rate of 12% (2018-2023).
Author: Victor Camlek
Digital Health Predictions
Research Scope
Digital Health—Technology Applications That Will Drive Growth
Digital Health—Technology Applications That Will Drive Growth (continued)
Digital Health—Technology Applications That Will Drive Growth (continued)
Digital Health—Technology Applications That Will Drive Growth (continued)
Definition
Digital Health Priorities
2019–2020 Global Perspective?Developed Markets
2019–2020 Global Perspective?Emerging Markets
US Healthcare—Demographic Indicators
US Healthcare—Important Indicators
China Healthcare—Demographic Indicators
China Healthcare—Important Indicators
Japan Healthcare—Demographic Indicators
Japan Healthcare—Important Indicators
India Healthcare—Demographic Indicators
India Healthcare—Important Indicators
United Arab Emirates Healthcare—Demographic Indicators
UAE Healthcare—Important Indicators
United Kingdom—Demographic Indicators
UK Healthcare—Important Indicators
Global Digital Health Market Dashboard
Prediction—In the digital health space, AI spend will decrease by 50% to prioritize real-world applications.
Prediction—Commercialization of clinical-grade AI solutions will be in full swing.
Developments That Will Drive These Predictions
Prediction—Demand for digital health managed cybersecurity services will increase.
Prediction—Managed services will accelerate solid cybersecurity strategies.
Developments That Will Drive These Predictions
Prediction—Digital therapeutics will steer ICT leaders into the digital health space, creating opportunities that they will be eager to pursue.
Prediction—Bits and bytes will compete with molecules in the next generation of healthcare.
Successful Developments That Will Drive These Predictions
Prediction—Digital health opportunities will expand as RPM begins to attract interest beyond just chronic condition management.
Prediction—Medical-grade RPM solutions will become widely available.
Successful Developments That Will Drive These Predictions
Prediction—Femtech will become a critical component of women’s healthcare and be among the top 5 investment areas in digital health.
Prediction—Digital solutions will target all women’s health issues.
Successful Developments That Will Drive These Predictions
Prediction—The dependence on Big Data architectures in digital health will increase.
Prediction—ICT firms will step up efforts to offer cost-effective platforms specifically for healthcare.
Successful Developments That Will Drive These Predictions
Prediction—Digital health-enabled employee health and wellness management will be worth $1.46 billion globally.
Prediction—Adoption of healthcare data analytics will be aided by payers and providers.
Successful Developments That Will Drive These Predictions
Prediction—Digital health convergence will accelerate as telehealth segments blend for an end-to-end solution.
Prediction—Telehealth will overcome traditional limitations in service because of where a patient is located.
Successful Developments That Will Drive These Predictions
Prediction—Data analytics in digital health will mature with more than a 65% penetration globally.
Prediction—Payers and providers will propel the growth of healthcare data analytics.
Successful Developments That Will Drive These Predictions
Evolving Digital Health Technologies
Evolving Digital Health Technologies (continued)
Evolving Digital Health Technologies (continued)
Evolving Digital Health Technologies (continued)
Evolving Digital Health Technologies (continued)
Evolving Digital Health Technologies (continued)
Digital Health Market—Key Growth Opportunities
Digital Health Market—Key Growth Opportunities (continued)
Digital Health Market—Key Growth Opportunities (continued)
Digital Health Market—Key Growth Opportunities (continued)
Conclusion
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| Deliverable Type | Market Outlook |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Victor Camlek |
| Industries | Healthcare |
| WIP Number | K389-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9600-B1,9612-B1 |
Global Digital Health Outlook, 2020
Artificial Intelligence, Care Coordination, Cybersecurity, Data Analytics, Digital Therapeutics, and Telehealth Will Drive the Market
23-Aug-2019
Global
Market Outlook
