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How Digital is Accelerating Healthcare

• A digital wave has swept the world. Technology advancements have transformed every aspect of life and healthcare isn’t far behind.
• Digital healthcare aims to amplify the shortcomings of traditional healthcare systems.

The digitization of the entire healthcare ecosystem is underway. From telemedicine to wearables to the remote patient monitoring device, Integration of technology with healthcare helps in meeting the unfulfilled challenges in the healthcare industry.

Digital healthcare aims to amplify the shortcomings of traditional healthcare systems. Prevention, helping patients monitor and manage chronic conditions, lowering the cost of healthcare provision, and making medicine more tailored to individual needs – some of the areas where applying technology to healthcare can immensely help.

Healthtech or Digital Health is a thriving market. Global Digital Health Market value expected to surpass $504.4 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing demand for remote monitoring services due to rising incidences of chronic diseases worldwide is a major factor propelling the global market growth. This could be the reason why Tech giants are betting big on healthcare with almost all the big firms be it Google or Amazon are investing billions in healthcare. The most valuable company in the world – Apple updated its Health app, last year, to display medical records from 39 hospitals.  The firm also added a new Apple Watch feature called the electrocardiogram (EKG), a more advanced method of heart monitoring. Apple received an FDA clearance for this.

 Alphabet, Google’s parent company is also making a number of bets in healthcare and life sciences. Calico, focuses on health and well-being, in particular, the challenge of ageing and associated diseases. And Verily is developing tools to collect and organize health data, then creating interventions and platforms that put insights derived from that health data to use for more holistic care management. 

 WHO’s push for Digital Health

In the April 2019, the World Health Organization (WHO) released new recommendations on 10 ways countries can use digital health technology to improve people’s health and essential services. The guideline demonstrates that health systems need to respond to the increased visibility and availability of information. People also must be assured that their own data is safe and that they are not being put at risk because they have accessed information on sensitive health topics, such as sexual and reproductive health issues, a press release from the WHO states. It further adds that Health workers need adequate training to boost their motivation to transition to this new way of working and need to use technology easily.

The guideline stresses the importance of providing supportive environments for training, dealing with unstable infrastructure, as well as policies to protect the privacy of individuals, and governance and coordination to ensure these tools are not fragmented across the health system.

The guideline encourages policy-makers to review and adapt to these conditions if they want digital tools to drive tangible changes and provides guidance on taking privacy considerations on access to patient data.

WHO has issued a number of resources to strengthen digital health research and implementation, including the mHealth Assessment and Planning for Scale (MAPS) toolkit, a handbook for Monitoring and Evaluation of Digital Health, and mechanisms toharness digital health to end TB, eHealth Strategy Toolkit in collaboration with International Telecommunications Union (ITU) and the Digital Health Atlas, an online global repository where implementers can register their digital health activities

Digital Health in Asia

Digital Health is thriving in Asia. Last year, Investment in digital health was around $6.3 billion in Asia, confirming it as the 2nd largest HealthTech ecosystem in the world. Significantly exceeding 2017 in dollar size, and doubling 2016, the Asia ecosystem is fast catching the US, says a report by HealthTech Alpha, a Galen Growth Asia solution. The most number of news new announcements and investments came from China and India.

Some other important initiatives include:

• Big technology companies, such as Tencent and Alibaba, announced new healthcare ventures
• In collaboration with the Food and Drug Administration of the Philippines (FDA), mClinica introduced a new mobile app, Electronic Logbook, to digitize prescriptions using cutting edge image recognition and machine learning. With this, the Philippines became the first country in Asia to use a nationwide mobile app to disrupt the pharmacy prescription process
• WeDoctor and Ping An Good Doctor – the “AI doctors” are increasingly becoming popular in China
• BioTel CareTM(formally known as Telcare), a BioTelemetry company, has developed a next-generation wireless blood glucose monitor for diabetes management. It is the first FDA-cleared, cellular-enabled glucometer which supports real-time transmission and consolidation of patient data in an FDA-cleared cloud
• Japan-based Omron Healthcare has developed a continuous, noninvasive Beat By Beat®blood pressure monitoring technology. Omron says this is the first of its kind in the world, uses Omron’s proprietary pressure sensor to apply pressure in a way to partially flatten the radial artery, thus enabling measurement of blood pressure for each heartbeat simply by attaching the monitor unit on the wrist

Health tech is an unprecedented opportunity to solve Asia’s healthcare woes. New technologies like Artificial Intelligence (AI), cognitive computing, natural language processing, wearable technology, virtual reality and augmented reality are providing new opportunities to provide more personalized prevention, diagnostic, and treatment.

As digital health improves, it will, in turn, strengthen health systems, enable universal health coverage, and improve health and well-being for all.

Source: https://www.biospectrumasia.com/analysis/46/14108/how-digital-is-accelerating-healthcare.html

SPONSOR: CardioComm Solutions (EKG: TSX-V) – The heartbeat of cardiovascular medicine and telemedicine. Patented systems enable medical professionals, patients, and other healthcare professionals, clinics, hospitals and call centres to access and manage patient information in a secure and reliable environment.

The use of mobile devices in healthcare

• The past decade has seen mobile devices become ubiquitous across a range of professions, and the world of medicine is no exception to this.
• In fact, the emergence of Mobile Health (usually shortened to mHealth) technology has enabled medical professionals around the world to deliver a better standard of care to their patients.

What is mHealth?

The World Health Organisation (WHO) defines mHealth as “medical and public health practice supported by mobile devices, such as mobile phones, patient monitoring devices, personal digital assistances and other wireless devices.” This technology leverages many smartphone functionalities such as SMS messaging, applications, web browsing, and Bluetooth connectivity to deliver a diverse range of services. 

The Rapid Rise of mHealth Technologies

The mHealth industry has shown impressive growth over the past few years. Constant innovation and increasing global connectivity have contributed to the widespread adaptation of this technology among medical professionals and patients alike. In fact, experts predict that this market will reach a global value of $60 billion by the year 2020.

How Are Healthcare Professionals Using Mobile Technology?

80% of healthcare professionals say that they employ mobile devices daily as part of their work and 93% of these state that access to health apps allows them to provide a better quality of care to their patients. There are many ways that this technology could be used as part of healthcare delivery; some examples of tasks that can be aided by mHealth tech include patient monitoring, clinical decision-making, and training.

Source: https://azbigmedia.com/business/mobile/the-use-of-mobile-devices-in-healthcare/

SPONSOR: CardioComm Solutions (EKG: TSX-V) – The heartbeat of cardiovascular medicine and telemedicine. Patented systems enable medical professionals, patients, and other healthcare professionals, clinics, hospitals and call centres to access and manage patient information in a secure and reliable environment.

Market Report on Global Smart Healthcare Market is to Witness Highest Growth in near future Forecast

• Smart healthcare market is poised to grow at an exponential rate owing to the rapid technological advancements in the healthcare IT, such as development of EHR, mhealth, and telemedicine

Here we have an in-depth study of the Global “Smart Healthcare Market”, which analyzes past as well as recent Smart Healthcare Market values along with detailed market information to capture many factors such as market trends, anticipated future market conditions, challenges, risk and various opportunities during the forecast period from 2018 to the upcoming year 2023. It is precisely stated that data about the Smart Healthcare market will certainly help stakeholders and other business vendors to get a significant understanding of the handling of the Smart Healthcare market globally. All over the world. The report provides a detailed overview of the Smart Healthcare Industry and is then segmented on the basis of product type, key manufacturers, applications and regions.

The global smart healthcare market is projected to grow at a CAGR of 9.2% over the forecast period (2018 – 2023). This report provides information about the leading players in the market and a corresponding detailed analysis of the top vendors in the smart healthcare market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.

The smart healthcare market is poised to grow at an exponential rate owing to the rapid technological advancements in the healthcare IT, such as development of EHR, mhealth, and telemedicine. Also, wearable healthcare devices that are used in tracking and monitoring of health conditions, body temperature, remote cardiac, calories burnt, and sleep statistics are witnessing huge growth. Introduction of technologies such as big data analytics within this sector will drive the prospects for the growth of the healthcare market.

Rapid Technological Advancements are Driving Market Growth

The key factors driving the global smart healthcare market are the rapid technological advancements in the healthcare industry. The development of smart healthcare devices such as smart syringes, smart pills, and smart bandages that are capable of monitoring patient’s healing procedure remotely and minimize the risks involved during the usage of syringes are expected to drive the market growth over the forecast period. However, lack of awareness and constraints related to budget are the factors restraining the growth of the market.

mHealth is Expected to Grow Exponentially over the Forecast Period

The mHealth segment is expected to witness a high growth rate owing to key elements that are leading to its fast development, such as its ability to provide information about the factors that are leading to a disease and reduce overall health risks, rising frequencies of unending infections, for example, tumor, heart diseases, and diabetes. Also, swift advancement and expanding buying power of consumers has brought about proliferation of PDAs, alongside 3G and 4G systems, which is expected to be an essential achievement factor for the development of the worldwide mHealth market.

North America is the Major Contributor for the Market.

The North American market is the highest contributor to smart healthcare owing to the presence of developed IT and healthcare infrastructure and high expenditure on healthcare. The US is the major contributor to the North American market, because of early adoption and huge investment. The Asia-Pacific market is the fastest growing smart healthcare market and is expected to grow at a faster pace during the forecast period as compared to other regions.

Key Developments in the Market

• November 2017 – Cisco and INTERPOL agreed to share threat intelligence as a first step in fighting cybercrimes jointly. This alliance is expected to witness two organizations develop a coordinated and focused approach towards sharing data.
• November 2017 – IBM acquired Vivant Digital Business to address the growing needs of clients seeking transformation though Digital Reinvention.

Source: https://ourcryptojournal.com/new-market-report-on-global-smart-healthcare-market-is-to-witness-highest-growth-in-near-future-forecast-2019-2023/646877/

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mhealth Solutions Market to witness major growth in coming years

• mhealth Solutions Market size is projected to experience significant growth from 2019 to 2025.
• Growing prevalence of chronic diseases such as blood pressure and cardiac diseases will drive cardiac health related mobile devices growth in the coming years.
• mHealth technology is viewed as the solution to improve healthcare cost-efficiency as healthcare providers seek to maximize their patient outreach while minimizing costs, thus leading to industry growth.

Increasing penetration of tablet and smart phones users and growing need for remote patient monitoring services will boost mHealth solutions market growth in the future. Increasing demand for healthcare information systems and launch of new applications of mHealth technologies are the factors driving the growth of mHealth solutions market.

Favorable government initiatives will boost mHealth solutions industry in the upcoming years. For instance, in Europe, European commission had launched a public consultation project to gain input from various participant of digital health industry to promote digital health innovations and care for European citizens. Such government initiatives should propel industry growth over the forecast timeframe.

However, lack of lack of favorable reimbursement policies may restrict growth of mHealth solutions market. Highly fragmented mHealth solutions market can hamper revenue generation and company growth in the future.

Glucose meter market will show tremendous growth during the forecast period. Rising incidence of Type-1 and Type-2 diabetes across the globe, increasing usage of homecare devices and growing significance of remote blood glucose monitoring will boost business growth. Moreover, risk of diabetes among the obese individuals and increasing popularity of less invasive glucose monitoring devices has led to rise in demand for digital glucose meters.

Fitness apps market will witness remarkable growth over the forecast period and similar trend is expected in the future. Fitness apps permits consumers to keep a track and monitor on their fitness levels and sports related activities by using smartphones. These apps also help users to keep track on their heart rate and the number of calories lost during workout thus having positive impact on segmental growth.

U.S. will dominate North America mHealth solutions market in the forecast period. U.S. is in forefront for technology adoption. The country is working towards developing smart manufacturing infrastructure that will help operators to make real time use of big data. The implementation of HITECH Act and HIPAA Act are promoting the use of mHealth solution in the country, thus propelling business growth in U.S. during projected timeframe.

Source: http://reportsgo.com/mhealth-solutions-market-to-witness-major-growth-in-coming-years