The last major evolution period in healthcare was heavily driven by the fact that in the early 1900s, significant road systems were constructed and put into place. This had a large impact on how healthcare was practiced, as these better enabled doctors to reach patients and vice versa. The resulting clinical systems became very good at dealing with critical care; reactive healthcare issues, eliminating hosts of diseases; and extending life expectancy to points never before possible.
Currently, we see ourselves in a second evolution in healthcare. Again, it is all about new roads; however, at this stage the roads are digital. Now, preventative (rather than reactive) healthcare issues, such as obesity, are some of the most prevalent issues we face. Fortunately, new digital roads are allowing healthcare providers and patients to connect in new and exciting ways to make significant strides in addressing the current preventative healthcare crisis. Innovative health IT solutions promise to improve patient safety and reduce many of the financial and operational inefficiencies that have plagued the system for many years.
While the expanding use of health IT is expected to continue to provide diverse and robust opportunities for many market participants, continued success is not a given—even for well-established vendors. As health IT use grows, so too does customer sophistication and market competition. Continually connecting solutions and services to customers’ needs is crucial, particularly during the near-term, when many customer challenges will be most pronounced. The Frost & Sullivan perspective on Connected Health helps you better understand buyer-seller dynamics as the healthcare system transitions to digital information. Our research and insights help you make informed strategic decisions around how best to navigate this complex market.
Influence on Your Customers
The Frost & Sullivan perspective on the Connected Health industry helps you better understand buyer-seller dynamics as the healthcare system transitions to digital information. Our research and insights help you make informed strategic decisions around how best to navigate this complex market.
Value of Connected Health GPS to Technology Vendors
- Health IT, telehealth, and OEM vendors gain a comprehensive and unbiased overview of the state of the market, including key trends in technology adoption, market share analysis, and market revenue forecasts to help guide internal planning, sales, and marketing. This includes critical insight on convergence factors and dynamics driving IT as a cornerstone behind healthcare transformation in the future.
- Vendors can benchmark and compare internally derived market assessments, models, forecasts, and strategic imperatives with broader market views.
Value of Connected Health GPS to Life Sciences Companies
- Pharmaceutical and biotech companies gain valuable perspectives on how connected health is transforming the way providers and consumers interact with information and how this will ultimately change the practice of medicine.
- The use of health IT presents challenges and risks to the traditional business models for many pharmaceutical and biotech companies, particularly around the growing use of decision support, medication compliance, and computerized provider order entry, social networking, and e-detailing.
- The large number of vendors, products, and services that comprise the connected health market landscape, the complexity of the various categories of products, and the dynamic business and financial nature of this area requires external perspectives and insights from industry specialists.
Value of Connected Health GPS to Medical Device Manufacturers
- TThe integration of data derived from a variety of medical devices with health IT systems, including electronic health records, personal health records, decision support systems, and other tools, is a growing trend that will have significant impact on device manufacturers.
- Growth and innovation opportunities between connected health vendors and device manufacturers will be a key strategy for success in the future, necessitating a comprehensive understanding of health IT business models, trends, and market participants.
Value of Advanced Medical Technologies GPS to Other Adjacent Market Participants
- The connected health landscape presents numerous specialty and niche opportunities for middleware, content, communications, regulatory, and services providers requiring the need to closely track the primary product and services markets to understand where the windows of opportunity lie.
- Winning strategies for peripheral market participants hinges on an in-depth understanding of overall market trends, challenges and restraints, as well as key competitors and emerging technologies.