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Infusion pumps hacking: what is the risk?August 24, 2015Infusion pumps are among the most frequently recalled medical devices by the food and drug administration (FDA), often in response to design or manufacturing product defects that could cause significant risk to patients. More recently, the FDA has been monitoring cybersecurity risks just as rigorously as hardware product defects.
Cone-Beam CT dental units to drive growth in global dental X-ray marketAugust 17, 2015Rising demand for implant dentistry, maxillofacial surgery and orthodontics are the major factors driving strong market demand for cone-beam computed tomography (CBCT). Globally CBCT units are forecast to grow at a compound-annual growth rate (CAGR) of 10.8% from 2014 to 2019, generating almost $800 million in annual revenue by 2019. This is far above the growth of other dental X-ray segments (intraoral and extraoral), and outpaces almost all other medical imaging modalities in terms of unit growth globally.
IBM acquisition of Merge Healthcare will spur new era of radiologyAugust 13, 2015Last week IBM announced the acquisition of Merge Healthcare, one of the largest suppliers of medical imaging IT and vendor neutral archiving (VNA) globally. IBM’s new and significant investment play into healthcare (following acquisition of Phytel Inc. and Explorys Inc. in the last year), is based on expanding the capability of IBM’s artificial intelligence (AI) platform ”Watson” to drive new diagnostic software for medical applications.
UK trial of wireless vital signs monitoring – new gimmick, or cost-cutting lifesaver?August 13, 2015With greater buzz around cost containment and clinical efficiency, technology that promises to improve both is gaining traction in the healthcare industry. Significant investment is being made to revolutionise the way in which vital patient data is collected during the patient’s treatment process. With high risks associated with a delay in detecting patient deterioration, focus to ensure that a patient is continuously monitored throughout treatment is increasing.
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...
Five Key Trends Driving Medical Talent Management IT MarketJuly 22, 2015Compared to other medical human capital management (HCM) submarkets, like payroll or time and attendance, talent management is viewed by most vendors as an underpenetrated market. Growth in this sector will depend on a variety of factors, including the shift from single talent management applications toward integrated talent management suites, Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) surveys, an increasing focus on population health and the global shortage of medical talent. IHS expects that hospitals and other care facilities will continue to seek ways to integrate such systems within a larger HCM platform. Based on feedback from vendors and providers, the following additional trends will be key through 2020.
Continued acquisition activity in respiratory care market reaching beyond portfolio expansionJuly 16, 2015The last three years have seen a number of acquisitions in the respiratory care space, particularly in the ventilator market. These acquisitions have typically been like for like businesses; however, there have been a growing number of partnerships and acquisitions in the respiratory care space between device manufacturers and IT solution providers.
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.
Barclaycard’s UK wearable payment plans will struggle to compete with Apple PayJuly 01, 2015Barclaycard, the UK card issuer of the Barclays banking group, is relaunching its bPay contactless payments system in July with three new NFC devices: an updated wristband, key fobs and stickers. The service allows users from any bank with a UK-registered Visa or Master debit or credit card to add money to a pre-paid account online, from its mobile app, or set up auto top-up. At launch, payments will be limited to £20 but will rise to £30 in September when UK limits are raised.
Wearable Market White PapersDownload our latest white papersJune 16, 2015Wearable technology is nothing short of a revolution, with new devices disrupting established markets and creating entirely new fields. In the rapidly expanding wearables universe, the most successful devices will be those that draw the shortest line from investment to return. For now, medical applications would appear to have the inside track.
IHS has been tracking the wearables revolution since the technology's inception and leveraging ongoing research by experts in the fields of consumer electronics, medical technology, telecommunications, industrial automation, and power and energy, has developed the most comprehensive market intelligence to guide companies in this rapidly expanding landscape.
EE's new 4GEE Action Cam will only appeal to a niche marketJune 12, 2015EE is not the first company to try and market a camera as an accessory to a mobile consumer. HTC launched its Re camera last year, Sony had its attachable QX series lenses, and GoPro has been making action cameras since 2009. EE is looking to ride the buzz that live streaming apps Periscope and Meerkat have generated. However, the lack of public broadcasting...
Product and technology developments key themes at the EuroAnaesthesia 2015 conferenceJune 08, 2015It was another busy year at the annual EuroAnaesthesia event with attendees enjoying a symposia programme focused on the innovations and technologies within the field of anaesthesia. The lively exhibition hall was teaming with suppliers of anaesthesia machines and other anaesthesia products. There were a number of themes present throughout the show, including patient safety, cost effectiveness through long-term cost savings, and the impact of healthcare IT on anaesthesia product choice. Yet, the topic that seemed to stand out the most as an overarching theme was product and technology development to improve patient care and patient outcomes, whilst providing cost savings to healthcare organisations.Subscribers Only
Digitalization of data & images driving demand for larger screensJune 02, 2015There is no doubt that healthcare IT solutions are a key talking point amongst healthcare providers and physicians alike. In the awakening of the economic decline and the increasing financial burden of healthcare expenditure, purchasers are seeking innovative technology to drive down costs. As the industry shifts towards preventative care, the use of healthcare information technology to aid diagnosis and to improve workflow is increasing.
Standardisation in the clinical medical devices marketMay 20, 2015Cost containment continues to underpin purchasing decisions in the medical device industry, and is increasingly shaping medical device procurement. Manufacturers are developing sales strategies to maximise this opportunity by offering bundling of products to increase cost-effectiveness. This, in turn, further drives market penetration, by allowing the sale of equipment that a healthcare provider may not previously have purchased from them.
Computed Radiography revenues drop by 25% from 2013 to 2014May 19, 2015Computed radiography (CR) X-ray equipment revenues declined by almost 25% from 2013 to 2014, driven by stronger uptake in retrofit and new flat panel detector (FPD) systems. The proportion of multi-plate CR to single-plate CR significantly changed, with multi-plate declining much more rapidly due to its higher cost compared to single-plate.
High-acuity IT systems gaining priority to provide integrated careMay 12, 2015Healthcare providers are increasingly focusing on smarter ways to provide advanced healthcare while remaining cost efficient. With healthcare budgets highly scrutinized amidst the repercussions of the global economic recession, resources for new product acquisitions are limited, and products today need to show they provide both clinical and cost benefits to purchase. For their part, purchasers are seeking products that enable them to not only remain profitable, but also to make significant cost savings further down the line. As a consequence, there is increasing interest to implement IT software that will streamline the patient pathway and improve financial outcomes.
Increasing home treatment driving technical demands on non-invasive ventilationMay 12, 2015Respiratory disease prevalence is growing globally, increasing the strain on healthcare providers. This is driving a shift to cost-effective treatment outside of the clinical setting, namely in the home. In turn, this has increased uptake of non-invasive ventilation, which is preferred because its lower cost and the reduced risk of infection often associated with the more complex invasive intubation.
Anaesthesia purchasing decisions: short-term cost or long-term savings?May 07, 2015As strain on global healthcare budgets intensifies, purchasers of anaesthesia devices are being more considered in their purchasing decisions, prioritizing return on investment. Two factors are being assessed: the initial cost of the equipment, and the overall running costs. In attempt to meet demand, a number of modern anaesthesia machines now contain technologies, such as low-flow anaesthesia, that promise long-term cost savings; however, these technologies often come at a high initial cost.
Apple Watch apps extend rather than replace iPhone experienceMay 01, 2015IHS analysis of the top performing US iPhone apps shows that Health & Fitness services have been quickest to market with Apple Watch apps. Overall an average of one in five of the top performing free, paid, and grossing iPhone apps are Apple Watch compatible.