The medical transformation department of the internationally renowned consulting firm Frost & Sullivan (Sullivan) recently released a report predicting that the global healthcare industry will continue to grow steadily in 2018, and the annual revenue of medical products will exceed the $1.85 trillion mark.
In 2017, digital medical investment exceeded $6.5 billion, a year-on-year increase of 109%. The report believes that digital healthcare investment will continue to grow in 2018 as innovative technologies and platform solutions continue to emerge, helping to improve quality of care, treatment outcomes and chronic disease management. In addition, high growth in emerging markets will change the paradigm of medical product development and geographic promotion.
The report counts the top 10 innovation trends in the global healthcare industry in 2018 as follows:
Trend 1: The “Service as a Product†solution will be a powerful tool for gaining a competitive edge in the medical field.Service +
This model will play a greater role as a new source of income for the sustainable development of the medical industry. In the next two to three years, 2% to 3% of the total revenue of major pharmaceutical companies and healthcare providers will come from the “service+†model.
As the business model shifts to “platform as a service†and “data as a serviceâ€, companies realize their business expectations through information technology, and then capital, expenditure and revenue will continue to change from capital expenditure to operating cost. “Let the data speak†will be a new source of innovation.
For medical insurance that pays for treatment results, smart solutions and services enable differentiated care. In the future, this business model of providing services to generate revenue will enable end users to understand the value of medical care.
Cloud
As medical data becomes more complex, the cloud will become the core platform. Medical data is flexible in the cloud and can reach all stakeholders. The global medical cloud computing market share is expected to exceed $5 billion in 2018 and is expected to grow by approximately 24% between 2017 and 2022.
In addition, the value-based medical needs are growing, and the concept of precision medicine is gaining popularity. It is imperative to deploy a scalable cloud platform. By integrating various medical data sets through a scalable cloud platform, healthcare organizations can collaborate to create new care models (such as telemedicine and home care) and develop practical analytical solutions.
Trend 3: Large technology companies will receive high returns.Technology company
In 2018, the FDA program, designed to quickly track digital therapeutics and health applications, will greatly facilitate the participation of non-traditional companies such as Apple, Verily (Google's life sciences company), Samsung and Fitbit in the medical market. competition.
In addition, the medical industry must truly conform to the development of the IT industry and the retail industry in order to truly implement the "patient first" and "brave innovation", and win through technology and the most effective business model.
Trend 4: Virtual testing and remote clinical trials continue to increase, and mobile healthcare has made “efficiency improvement†and “patient first†a medical focus.Mobile medical
The application and integration of wearable device and smartphone APP data has shown great advantages early in reducing test costs, streamlining test procedures and demonstrating real-world performance. About 20% of clinical trials worldwide will be implemented virtually, as mobile healthcare solutions will grow rapidly over the next year to a year and a half.
With the popularization of the "Bring Your Own Device" model, technologies such as mobile medical and wearable devices that were not valued in clinical research will not only gain vitality, but will quickly become the standard.
Trend 5: In-hospital robotic surgery and care will be popular.robot
The level of treatment and rehabilitation of elderly patients needs to be improved, and the shortage of nursing staff will increase the demand for global nursing assistance.
The medical automation and medical robotics market is expected to exceed $1.6 billion by 2018. As market competition intensifies, the right type of robot technology and appropriate cooperation are the key to gaining the top spot in the medical market. It is estimated that by 2025, 80% of the operations will be performed by robots.
Trend 6: Asia Pacific countries take the lead in implementing smart hospital projects.Smart hospital
Digital advances and market trends, including the concept of a smart city, are driving hospitals to become “smart.†It is estimated that South Korea, Australia, Singapore and Malaysia will have about 3,200 smart beds in 2018. However, interoperability and cybersecurity remain major obstacles to implementing smart hospital solutions.
Trend 7: Although medical stakeholders continue to increase their investment, the number of cyber attacks in the healthcare industry will double in 2018.cyber security
As the digitalization of information in the medical industry is becoming more and more high, the medical industry is increasingly becoming a frequent area for cybercrime. In the event of a cybersecurity attack, a company that operates medical technology or consumer devices can face millions of dollars in losses.
Therefore, the government, health departments and original manufacturers of medical devices must increase cooperation, establish long-term mechanisms for issuing guidelines and disclosure of manufacturer information, improve risk prevention awareness, and develop risk management solutions.
Trend 8: Incentive health insurance plans will be popularized.Health insurance
According to industry forecasts, about 52% of the world's laborers are overweight and 76% have health problems. However, only 9% of the world's workforce participates in health plans provided by companies or employers, and it is still hard to meet employers. Therefore, the forward-looking incentive mechanism featuring “seeing data and paying insurance†will become a standard model for policyholders and insurance companies to cooperate in 2018 to promote global health plans.
For example, Vitality and Prudential in South Asia (PrudenTIal, launched the new concept of “myDNA Nutritional Genetic Testingâ€), Discovery in Africa, UnitedHealth Group in the United States, and United Healthcare MoTIon in partnership with Qualcomm Life ) and commercial insurance companies such as Oscar will lead the global health insurance plan.
Trend 9: Artificial intelligence is about to become the mainstream of imaging diagnosis.Intelligent image
Artificial intelligence can automate processes, improve process efficiency, and improve diagnostic accuracy, which will play a major role in medical imaging. The artificial intelligence platform has a strong learning ability, which will increase the workload of radiologists and increase productivity by 10% to 15% after being applied to various processes of medical imaging diagnosis. At the same time, after using the artificial intelligence platform, the accuracy of the screening results is expected to increase in the next two or three years.
Trend 10: As the use case analyzes the early application of ROI, blockchain technology is put into practical use.Blockchain
Although the blockchain technology in the medical field is still relatively immature, the early attempts of B2B networks between enterprises can strongly explain the potential of blockchain technology. For example, in 2018, the first implementation of the blockchain solution will provide early predictions for insurance claims management, clearing houses, and revenue cycle management outsourcing supplier ecosystems. In addition, for the ICO (first coin issue) or token trading activities in the medical industry, 2018 is likely to become a year of breaking the medical industry routine and empowering consumers of medical products.
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