Siddharth Shah - Analyst Profile

Industry Analyst
Frost & Sullivan

Recent items from Siddharth Shah

A Market Opportunity Assessment of Medical Imaging‘s Flourishing Contribution to Personalized Medicine Initiatives
The precision medicine paradigm has found its early roots in genetic profiling, as genomics have proven their potential in helping clinicians decide on the right treatment for the right patient at the right time. Not far behind is medical imaging, which is rapidly developing its own, image-based approaches to tailoring decisions and care pathways to individual patients. Indeed, as one of only four ways to phenotype a patient, – together with clinical history through physical examination, lab testing, and pathology – diagnostic imaging provides a fundamental source of information for personalized medicine. At every step of the medical imaging value chain, opportunities are developing for a personalized approach to imaging, away from a one-size fits-all model: from ordering and planning imaging studies, to imaging equipment advances and personalized image acquisitions, to precision reporting and image analysis with quantitative imaging biomarkers and radiomics, to image-based 3D printing and real-time image-guided interventions and therapies, to high-precision radiation therapy and molecular imaging of theranostic radiotracers, and with the overarching analytics layer that closed the loop on imaging's value, quality and outcomes. Precision imaging’s impact is expected across the key clinical application areas of oncology, metabolic diseases and neurological disorders, and the paradigm itself is expected to result from the convergence of several developments, including but not limited to integrated and structured big imaging datasets, multi-modal techniques in multidisciplinary care, and personalization under a consumerist paradigm. Every major economy has launched wide-scale precision medicine projects over the last few years, involving genetic profiling of millions of people. Medical imaging is now the next in line, as the interest in imaging biobanks and registries and the confidence in image-based cohort creation and therapy selection and planning are growing rapidly. While all of the major imaging companies have taken notice of the "precision imaging" opportunity, their respective approaches and proactive levels vary widely.
Published: Jan 09 2019 Other
Published: Sep 04 2018 Best Practices
Opportunities Lie in the Integration of Big Data, AI, Aging-in-Place, Disease Management, and Wellness to Optimize a Single Consumer Health Platform
Smart homes are no longer an emerging concept. Consumers are not only warming up to the idea but also buying home automation products. Smart speakers seem to be the favorite, with sales jumping from a meager 6 million units in 2016 to a whopping 33.2 million units in 2017. The developing ecosystem of home automation products that each of these current smart speakers provides is encouraging the sale of related lighting, energy and home security products. Growing alongside this trend is the potential for healthcare services to be provided in a smart home. In fact, several health services being can be integrated with existing smart home infrastructure: telehealth, remote patient monitoring, simple medication reminders, or answers to health information queries. But the true potential of a smart home that offers care lies in identifying the unique health needs of each individual residing in a home—from infants or the elderly—and serving those unique needs simultaneously. In the future, the true smart home (which will evolve from the current ‘connected home’), and the further evolved ‘intelligent homes’ will be able to do this with ease, and monitor the entire health and wellness of all residents enabling a proactive approach to care, instead of reactive. For now, the homes can serve the needs of aging-in-place, chronic disease management and post-acute care. Naturally, the current ecosystem is somewhat fragmented, operating in silos. However, a platform integration of multiple health-related services with other non-health, consumer related services will be the next step for most vendors serving this space; for example, motion sensors can automatically turn up the lights for senior grandmother in an aging-in-place scenario.
Published: Jun 27 2018 Market Research
Concept Definition, Application, and Growth Opportunities
The entire industry has probably heard the term of ‘Smart Hospitals’ or the ‘Intelligent Hospitals’. However, only a few truly understand the concept, as there is plenty of ambiguity around the term, with each stakeholder defining it in a way that relates to themselves and their services. Some even confuse a digital hospital to a smart hospital. However, an all-encompassing approach, which defines every element of the concept is lacking. Application of the concept is also a challenge – very few hospitals have the financial resources to implement all the smart solutions necessary to become a smart hospital. However, there are strategies that can enable implementation of smart solutions in a piecemeal approach to become smart. Indeed, a majority of existing global hospitals already have or are likely to implement smart solutions. A few smart hospital projects do exist already and are spread across the globe. Additionally, a majority of the new hospital projects (brownfield and greenfield ventures) in the hotspot areas of Canada, Nordic regions, and Australia are likely to be full-scale smart hospital projects. Without a doubt, smart hospitals will have a major impact on global healthcare systems. Hospital expenditures account for the largest share of healthcare expenditures, and as global economies struggle to reduce overall expenditures on health, smart hospitals will prove to be an effective tool to achieve that target. Additionally, smart hospital approaches enable better quality of care with personalized approaches and reduced medical errors to achieve better patient outcomes. To cater to the trend of consumerization in healthcare, smart hospitals employ a patient-centric approach to ensure patient experience is optimal, allowing for better revenue generation. This study covers the market imperative for moving toward smart solutions and hospitals, the very definition of a smart hospital along with its framework, the difference between a digital hospital and a smart hospital, profiles of select smart hospitals across the world, and the three areas a smart hospital must cover, such as operational efficiency, clinical excellence, and patient centricity. Additionally, it offers key takeaways for the industries serving smart hospitals – medical devices, pharmaceuticals and life sciences, health IT, internal logistics, and even facilities management and also provides select growth opportunities for vendors to capitalize on. It also highlights the challenges faced in achieving the smart hospital vision, while providing some strategic insight into how these could be alleviated.
Published: Nov 29 2017 Market Research
Internet of Medical Things is a space we recently covered and has led to several other areas that we are now looking at - smart hospitals, smart healthcare in smart cities and more. Part of the Visionary Healthcare program's job is to not only look at how emerging technologies are impacting the industry today, but also to look at how they will evol...
10 Sep 2017 Blog post
Is Healthcare becoming a Data Science Driven by Clinicians?
Undoubtedly the current model of sick care is unsustainable due to a number of compelling reasons. The aging population burden tops the list. The United Nations’ World Population Aging Report paints a grim picture for the future (see Figure 1) – from 2025 and beyond, the share of the elderly population
Published: Jun 27 2017 Market Insights
Growth Opportunities, Challenges, and Future Perspectives in Healthcare
Healthcare is one of the industries facing disruption by technological advances in the Internet of Things (IoT) space, and yet it is only partially aware of the advances, potential, and benefits. Almost 60% of healthcare organizations have already adopted healthcare IoT or Internet of Medical Things (IoMT), and realized cost savings, improved their profitability, visibility and customer experience. Indeed, IoMT serves the financial interests of healthcare industry stakeholders including investors, manufacturers, providers and physicians. It is well-suited to meet the needs of the transforming healthcare industry, by supporting the transition from disjointed care to coordinated care and reactive to proactive care-delivery approaches, for example. An estimated 4.5 billion IoMT devices existed in 2015, accounting for 30.3% of all IoT devices globally; this number is expected to grow to 20-30 billion IoMT devices by 2020. Capitalizing on this trend with the right applications for the right customers with the right partners and relevant business models is crucial for healthcare stakeholders to survive the fierce competition, which is supported by start-up companies and technology giants alike. With IoMT, a connected ecosystem of sensors and devices on and around the individual serve to capture and measure, identify, stratify risks, inform, make decisions and take actions. With that underlying principle, the IoMT market has five application areas. The On Body area covers wearable devices such as smart devices, peripherals, and even implants. The In Home environment includes digital/virtual assistants, activity monitors, and home medical devices. Within the Community segment, automated kiosks, emergency response intelligence and mobility are application areas. In the Clinic segment, handheld medical devices and care-coordination technologies as well as administrative support tools are areas where IoMT is making its mark. The In Hospital area benefits from IoMT use for real-time location services, patient/personnel flow tools and smart, connected equipment for better inventory management and resource utilization. This study covers the landscape of the Internet of Medical Things by application areas—on body, in home, community, in clinic, and in hospital. For each application area, IoT use cases, vendor landscape of over 100 IoMT stakeholders, potential opportunities and challenges have been covered. Additionally, analysis on business model considerations for IoMT stakeholders, case studies, and future perspectives has also been provided. Key questions that this study will answer: • What does the current IoMT market landscape look like? Which areas are being served, and by whom? • What are the segment-specific challenges and opportunities for IoMT market incumbents and those considering entering the market? • What strategies for success can be employed by stakeholders? • What are the important business model considerations for IoMT stakeholders and new entrants? • What are the future perspectives that IoMT industry stakeholders and new entrants should be aware of?
Published: Jun 06 2017 Other
Innovations to Disrupt Diabetes Wellness, Diagnosis, Monitoring, and Therapy
Diabetes management is on the verge of being disrupted by innovative technologies such as artificial pancreas, non-invasive glucose monitoring sensors, wearables, apps, and inhalable insulin. This research study captures all the innovative developments across the segments of wellness, diagnosis, monitoring, and therapy of the diabetes care continuum, covering the global market. Diabetes remains one of the top causes of mortality, and health expenditure on the disorder and its complications is set to rise 19% annually until 2040, to reach $802 billion. • Beyond the traditional focus and high-interest areas of monitoring and therapy, rising diabetes prevalence and costs are resulting in the focus gradually shifting to preventing diabetes, and on the overall wellbeing of diabetics and pre-diabetics, resulting in the highest double-digit growth of the wellness segment. • Diagnosis, however, remains a neglected aspect of diabetes and novel approaches may be necessary to improve screening and diagnosing patients earlier to save on long-term costs. • Monitoring developments that help improve the quality of life of diabetics include blood glucose monitoring tech advances (traditional glucometers and also semi-invasive, implants, and non-invasive continuous glucose monitoring systems), data analytics support, care delivery support, and overall diabetes management support in the form of apps, telehealth, and insulin dosing calculation support. • Therapy, the largest segment, is also seeing several improvements in terms of better drugs, combination drugs, better insulin forms, and better delivery mechanisms. Of course, the main development in this segment is that of artificial pancreas—there is one commercially available system and several being developed with varying approaches and features. The other notable “permanent cure” approach is cell therapy involving regenerative medicine techniques with variations in the approaches for transplantation. The study provides an exhaustive coverage of the overall diabetes ecosystem, with strong focus on startups, apart from the existing stakeholders. It also analyzes the role that technology giants such as Alphabet (née Google) and IBM are playing in the diabetes space. An overview of several innovative diabetes care delivery models from across the world is also included. The study would be valuable for diabetes stakeholders to chart out their strategies for future collaborations and partnerships, while keeping a watchful eye on the competition. Key questions this study will answer: • How is the diabetes burden evolving across the globe? • How are market forces and trends shaping the diabetes market and the segments of wellness, diagnosis, monitoring, and therapy? • What gaps in diabetic care need to be filled to address the unmet needs of diabetics? • What are the technological developments in the industry that attempt to address such unmet needs? • How have some care models perfected diabetes management, catering to local needs? What are some future perspectives for the industry?
Published: Mar 31 2017 Market Research
Published: Jan 13 2017 Best Practices
Digital Solutions to Address Challenges in Patient Engagement and Support
The annual global cost of mental illnesses is set to rise to a whopping $6 trillion in 2030, from $2.5 trillion in 2010. Furthermore, the global treatment gap in 2004 for disorders such as depression and anxiety was more than 50% (half of the patients went untreated). Unfortunately, the situation has still not changed significantly. A growing body of evidence suggests that mental and physical health are fundamentally linked, indicating the need for holistic treatment approaches to include behavioral health for better patient outcomes. This research service analyzes the behavioral health market, its drivers such as the emergence of digital health technologies and gradually improving awareness, as well as restraints such as reimbursement issues and cultural stigma which prevent its growth. New focus areas in the care continuum are prevention (recognizing early symptoms and preventing worsening of the disease) and recovery (ensuring treated patients become productive members of the society). This study also assesses how treating the patients’ physical as well as behavioral health issues together will become the new model of integrated care delivery.
Published: Jan 12 2017 Market Research
Projecting Market Transformations and Growth Opportunities
Global healthcare trends of aging populations, rising chronic disease prevalence, and urbanization are bound to further strain healthcare systems already grappling with issues of healthcare access, quality, and cost. New treatment paradigms are required that integrate elements of prediction, prevention, and automation to make care more affordable and efficient. This study explores how the healthcare landscape is expected to evolve, outlines new paradigms, highlights the key areas of growth within each sector, and focuses on challenges that regions will experience in achieving better healthcare futures. Key Focus Areas: • How and to what degree will certain aspects of the healthcare industry transform by 2025? • What role will emerging technologies play in disrupting current market paradigms? • What types of new business models will arise due to impending industry shifts? • What are the key sector-specific growth areas within healthcare? • What impact will unique regional dynamics have on market development across the globe?
Published: Nov 04 2016 Market Research

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