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How Brexit will affect the UK healthcare market in 2020February 26, 2020After three-and-a-half years of long and often tedious negotiations, the UK finally left the EU on January 31. Despite the official exit date, a long road is ahead for all parties to come to agreement on the official terms of the exit, due by the end of this year, on Dec. 31. During this 11-month period, the UK will continue to follow all EU rules, and its trading relationship will remain the same. It is also during this time that many agreements likely to affect the healthcare market will be negotiated. The Healthcare Technology team at Omdia discusses what has happened over the last few years and what is likely to occur in the next few years.
How will Artificial Intelligence Impact Medical Imaging in 2020? RSNA 2019 Round-upJanuary 28, 2020The IHS Markit Healthcare Technology team recently attended the annual Radiological Society of North America (RSNA) 2019 meeting in Chicago in December. The general buzz around artificial intelligence (AI) was still very prominent at the show, with vendors showcasing AI integrated software algorithms that promise to reap the rewards to those that invest. This insight provides an overview of the core AI trends witnessed at show, and what 2020 has in store for AI in medical imaging.
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.
MEDICA 2018 Brief – A change is comingDecember 03, 2018IHS Markit recently attended the world’s largest medical trade fair in Dusseldorf, Germany. With an attendance of over 120,000 visitors, the buzz around all things medical was very clear. Attendees ranged from healthcare professionals with a vested interest in learning more about innovative technologies, to dealers looking to establish relationships with new manufacturers.
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.
Cyber security: Baby steps to ensure the healthcare industry NeverCriesMay 24, 2018As the clinical benefits of a digital healthcare system unfold and spread throughout the world, securing healthcare systems and patient information has never been more important, especially in the face of growing cyber-security threats and attacks.
ECR 2018 Brief: AI – what is it? Augmented, adaptive, or artificial?March 27, 2018There was heightened buzz around the topic of AI at the 24th European Congress of Radiology, with many vendors citing the integration of data through AI as the next big trend – but what’s new? AI has been discussed at the show for several years, and each year there is more and more uncertainty around its integration into medical devices.
The future of infusion pump software – can’t speak, won’t speakMarch 27, 2018Healthcare information is everywhere, but it is not always being used to its fullest capacity. There is still a long way to go for fully integrated healthcare across the care continuum. Despite many advances in the use of patient data, there are several medical devices that are behind in the development process.
Changes in ultrasound customer base are increasing demand for direct manufacturer interactionJuly 24, 2017With many trends influencing the growth of the ultrasound market, it is interesting to analyze the subsequent impact on the sales channels customers use to purchase equipment. As with most medical technology, the underlying factor of shrinking healthcare budgets is shaking up the ultrasound equipment product mix. The focus is on providing the best level of care and reducing high-cost procedures through prevention rather than cure; this is changing the way in which healthcare is provided. Not only are healthcare professionals seeking products that improve the return on investment, but also products that can be used in non-traditional applications; ultrasound equipment is now used by a greater variety of professionals than ever before. This is subsequently affecting the demand for user training and for receiving information directly from manufacturers.
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.
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.
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.
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.
Clinical care devices need to get smartFebruary 10, 2015The damage brought by avoidable adverse events in the hospital setting is placing increasing strain on the financial resources of health providers—so much so, that new legislation is being implemented to ensure that such events are correctly documented for future reference. In the U.S., reimbursement of treatment cost is withheld from the provider if the treatment is provided due to the occurrence of an adverse event. Providers, therefore, are increasingly aware of the necessity to collect patient data to make sure that hospitals are adhering to reimbursement and reporting requirements.
Focus growing to detect deterioration in patient status; continuous monitoring increasesFebruary 10, 2015With increasing focus to improve patient outcomes and reduce costs, the importance of continuously monitoring patients throughout their treatment pathway in the hospital is growing.
Surgery moving to 4K displays, but how quick will uptake be?February 10, 2015As product innovations such as 4K resolution drive increased clarity of images, there is uncertainty as to how quickly the medical displays market will change.