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Personalization Pushes the 'Quantified Self' Towards the 'Enhanced Self'June 06, 2019In 2018, personal health technologies exceeded $10 billion in global sales. For nearly a decade, the demand for personal health monitoring has been driven by a thriving health and wellness sector, rise in disease prevalence, and an ageing population. In a global context, ownership of health or fitness monitors has become a norm and there is a positive consumer sentiment in quantifying personal health as a basis for health improvement.
Ventilator manufacturers continue to focus on patient safety and workflow to help win dollarsMay 24, 2019With the growing trend to focus on the quality of care provided by healthcare institutions, the critical care ventilator market has seen several transitions over the last few years. The ventilator market in developed regions is largely saturated; additionally, with continued focus on reducing healthcare spending, these markets are becoming increasingly price sensitive.
Artificial intelligence: The apple of the monitor’s eye?May 09, 2019Artificial intelligence (AI) continues to be a conversation starter throughout the medical industry. Its utilization to improve healthcare provision and efficiency is welcomed with both excitement and anticipation. As monitoring products collect vital information on patient status, they are heavily involved in providing the data utilized to make informed choices through predictive analysis in the patient care pathway.
Sensors are here to stay: Impact on traditional patient monitorsJanuary 07, 2019Patient care is shifting from curative to preventative care, with investment heavily placed on limiting avoidable adverse events. Patient diagnosis is happening earlier to reduce the impact to the patient, and the subsequent cost to the provider. It is believed that by focusing on monitoring key health indicators, earlier diagnosis will ultimately reduce healthcare expenditure on non-communicable diseases (NCDs), which may have previously gone unnoticed until they required major and costly treatment. Patients are becoming much more involved in the decisions surrounding their own care paths.
Patient monitoring: Any signs of a pulse?December 03, 2018There has been a shift change in the patient monitor market, with innovation focused on improving cost efficiency, work-flow, and coverage of patient status. The continual push to monitor a patient status throughout the treatment pathway has increased demand for low-acuity monitoring. This has been further compounded by the increased throughput of patients, in addition to treatment in an ambulatory or outpatient setting. The new IHS Markit ‘Patient Monitors Report – 2018’ outlines the key technological trends in the market, and their subsequent impact on market growth and competitive environment.
In 2018, Analytics and AI in Healthcare Look to Take Center StageJanuary 04, 2018The 103rd Scientific Assembly and Annual Meeting of the Radiological Society of North America (RSNA) brought together over 50,000 attendees at Chicago’s McCormick Place from November 26th to December 1st, 2017. Companies of all sizes brought their A game to the exhibit floor with leading companies showcasing gargantuan booths filled with the latest and greatest medical imaging technologies.
Three global trends changing the landscape of the medical imaging equipment marketSeptember 20, 2017Growth for x-ray, ultrasound, MRI, and CT equipment will be driven by a variety of unique factors, but several trends will affect future revenues for the entire medical imaging equipment market. Three of these trends—the aging global population, the changing US healthcare culture, and the emergence of healthcare markets in developing nations—are highlighted below and followed by IHS Markit’s advice for capitalizing on these trends.
New medical device catalog to drive growth for domestic suppliers in ChinaSeptember 28, 2015In May 2014, the National Healthcare and Family Planning Commission (NHFPC) launched the ‘Excellent Domestic Medical Device Selection’ program. This is the first government approved open selection of domestic medical devices in China in order to form the ‘Excellent Domestic Medical Device’ catalog. In such a large potential medical electronics industry, fighting for more market share for local brands will always be a core focus of the Chinese government creating an increasingly challenging environment for multinational suppliers.
Apple extends Apple Watch retail presence with Best Buy dealJuly 29, 2015Allowing Best Buy to stock the Apple Watch could expand Apple’s footprint to over 1200 retail locations. Best Buy has over 1000 stores in the United States, which is more than Apple’s 267 shops.. The initial agreement however only includes 300 stores in 2015. As a highly personal product with many strap options, potential customers...
CMP - A new positive signal for local medical device suppliers in China?July 07, 2015The recently announced China Medical Device Procurement Public Service Platform (CMP) is set to transform the medical equipment market in China. Benjamin Niu (lead analyst for the Chinese medical device market at IHS) attended the 2015 Health Industry Summit (tHIS) in May this year. Opening to crowds of over 210,000 visitors from over 150 countries, tHIS is the largest healthcare show in Asia. And the CMP was a clear focus.
Growing focus on medical digitalization driving growth in the Chinese healthcare IT marketJuly 07, 2015At the recent 2015 Health Industry Summit (tHIS) one trend was evident. China is accelerating towards the golden age for medical digitalization. Benjamin Niu, medical electronics and healthcare IT analyst for IHS, forecasts that in 2016, the total investment on medical digitalization will come to 34 billion RMD fueling expansion and implementation of healthcare IT systems in China.
Hospital Overcrowding to Spur New Opportunities for Medical Technology Market in ChinaApril 15, 2015The rapid expansion of healthcare spending in China has led to improved healthcare facilities increased patient access. As a result, pressure on large metropolitan hospitals has intensified. Overcrowding is now increasingly common in large hospitals, putting at risk China’s target to achieve the 90% patient in-county-visit rate by 2020.
CMS to cover lung-cancer screening with low dose CTMarch 02, 2015The Centers for Medicare and Medicaid Services (CMS) has recently announced plans to provide immediate coverage for the use of low-dose computerized tomography (CT) for lung-cancer screening in the United States.
Apple risks new categories with iPhone 6 phablet and Apple WatchSeptember 09, 2014Apple launches its first wearable -- the Apple Watch -- as well as revitalizing its iPhone range and moving into mobile payments with Apple Pay. Apple's bold new products depend on the continued success of the iPhone to succeed, but with a 2015 availability data, Apple has many things still to do to finish its first generation smartwatch.
AT&T sees new mobile opportunities with Timex's Ironman cellular smartwatchAugust 07, 2014Timex has announced its first 3G-enabled smartwatch, the Ironman One GPS+, and it will work as a standalone device with cellular connectivity. It features four hardware buttons and a touch screen. The smartwatch features a 1.5-inch low power Mirasol colour display and runs on Qualcomm’s Brew platform. It has 4GB of in-built storage and Bluetooth connectivity. Timex claims...
Reduced reimbursement for COPD patient readmissionsJune 25, 2014Despite a number of recent measures to curb healthcare spending in the US, increased expenditure is continuing to rise in order to provide sufficient care to an increasing number of chronically-ill patients. One measure to tackle rising healthcare costs is to reduce reimbursement payments; with an increasing number of patients, payment rates cannot be maintained if healthcare spending is to be addressed.
China Remains High Growth Market Despite Shift in Product MixJune 03, 2014The impact of the Chinese government’s 2012 healthcare reform plan on the ultrasound market will be the largest growth driver for the Chinese market. Plans to construct a new network of Tier 2 county-based hospitals, paired with the replacement of ultrasound systems in metropolitan Tier 3 hospitals, will also figure in the robust growth equation, driving annual revenue expansion above 10 percent for the next four years.
Impact of GSK Corruption Case to Soften Chinese Medical Device Market in 2014February 26, 2014A swathe of anti-corruption government action stimulated by the GSK bribery case of 2013 has been launched. Here our Chinese specialist, Benjamin Niu, outlines the key impacts of this new regulation on the rapidly evolving and substantial Chinese medical devices market in 2014.
United States Health Information Exchange Adoption Lags Behind Despite Large InvestmentsFebruary 19, 2014The United States had the largest market for health information exchange (HIE) in the world in 2013. Stimulus dollars allocated toward the advancement of the US healthcare system through the HITECH Act and the governments meaningful use initiative have aided the development of the HIE market in the United States. However, the adoption rate of HIE in the United States continues to lag behind countries in Scandinavia and Oceania.
Obamacare Boosts U.S. Market for Sub-Acute COPD VentilatorsFebruary 13, 2014Spurred by cost-reduction efforts under the Affordable Care Act (ACA), U.S. shipments of ventilators used for hospital patients undergoing sub-acute treatment for chronic obstructive...