Technology boom expected to transform healthcare market by 2021 — 5 thoughts

Eric Oliver -   Print  |

With rapid technological advances expanding the healthcare market drastically to date, the next five years could completely transform it, according to Thompson Reuters Zawya. 

The report predicts that the healthcare market will grow from $40 billion in 2015 to $71 billion by 2020. Here are five thoughts.

 

1. The GCC region is investing at least $2 billion in new patient-management technologies and is constructing 37 mega-hospitals worth an estimated $28 billion.

 

2. The healthcare wearables sector is going to transform the industry increasing its market share from $2.5 million units in 2016 to an estimated $97.6 million by 2021, with $18 billion in expected revenue.

 

3. Chief Medical Information Office at Australia's UnitingCare Health Monica Trujilo, MD, said when combating lifestyle diseases the way healthcare professionals use technology will be as important as new advances in medical science.

 

4. Startups are beginning to drive the market in terms of innovation. GITEX Tech Week is set to connect more than 400 entrepreneurs from more than 40 countries with 250 global investors. The entire thing will showcase healthcare solutions that can connect and personalize the healthcare market.

 

5. Established tech companies are also going to be on display at GITEX. HP, Microsoft and SAP are lining up resources as they attempt to "enhance patient care and healthcare provider operations," through a variety of different technologies.

 

More news related to patient management:
1. Rush University Medical Center Orthopedic program 4th in the US, top in Illinois: 3 thoughts
2. 5 things to know about the Access Health Care break-in; patient information may be compromised
3. How one orthopedic group developed physician-owned bundled payments — And scaled their model

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