Global healthcare industry is worth $8 trillion. At over $10,000 per capita, US healthcare spending is 30% higher than the world’s second highest spender-Switzerland-and approximately 6.5 times higher than levels in China. Because of this higher spending, the implication is that the US healthcare sector is wasteful.
There has been a surge of interest in whether or not better technology might extract greater efficiency gains. Thus far, the global healthcare industry-especially the US healthcare industry-has been slow to modernize due to the fact that the industry is complex, risk averse, and highly regulated.
The Internet of Things (IoT) is transforming the healthcare industry. Organizations are utilizing IoT technologies to access real-time data and gain visibility into their operations throughout the manufacturing value chain. For hundreds of years, the key drivers of progress in healthcare were biology and chemistry. Now, they are data science and software.
The global IoT devices market in the healthcare sector is expected to grow at a Compound Annual Growth Rate (CAGR) of 47.3% from 2016 to 2020, to over $500M. One important market driver that is propelling the wider adoption of IoT in healthcare is the convergence of Big Data and IoT, which opens up significant opportunities for the industry overall. Big Healthcare is being gradually undermined by swelling networks of connected biosensors, ubiquitous mobile devices, and cloud-based healthcare apps. Collectively, these phenomena are grouped under the umbrella term, “The Internet of Healthcare Things”.
Six broad technology categories are set to transform the healthcare industry over the next two years: Genomics, Mobile Health, Health Information Technology (IT) Systems, Robotics, Virtual Reality, and 3D Printing. Unless major investment are carried out, in the long term the losers will be Big Pharma and Big Medical Equipment players. However, in the short term, the threat level for these companies is low.
The report "Healthtech - Thematic Research", is part of an ecosystem of thematic investment research reports.The report offers in-depth research intoHealthtech; identifying winners and losers based on technology leadership, market position and other factors.
Companies Mentioned: Qualcomm, Proteus Digital Health, Oxford, Nanopore, Medtronic, Illumina, iCarbonX, IBM Watson, Ginger.io, Fitbit, First Sensor, Enlitic, Cyberdyne, Cerner, Biovotion, BGI Shenzhen, AtomWise, Apple, Alphabet, AliveCor, Agendia, 23andMe
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DISRUPTIVE HEALTHCARE TECHNOLOGIES
- Mobile Health
- Health IT Systems
- Virtual and Augmented Reality
- 3D Printing
- Digital Health Highlights Across Major Therapy Areas in 2017
- Cardiovascular and Metabolic Disorders
- Infectious Diseases
- Public Companies
- Private Healthtech Companies
- First Sensor
- IBM Watson
- BGI Shenzhen
- Proteus Digital Health