If there is an industry evolving tremendously, it’s healthcare. It is also now one of the largest sectors in India with excellent revenue and employment generation. Thanks to technology and professional IT experts who go beyond their way to ensure businesses run without any technical issues or breakdowns.
The healthcare sector outlook 2019 has an agenda that offers a transformation of technology used for care delivery, patient-centricity, compliance and sustainability. This is to shape the future of healthcare and exponentially bring advances to innovated technology of the health industry. According to the 2019 outlook, the global healthcare industry a redefinition to the sector is urgently required. The agenda aims to create financial sustainability in the economy of the healthcare industry, and to improve the care delivery system to make it more accessible and affordable. The global healthcare market size saw a considerable growth rate of 4.82% last year and the number is only going upwards. The healthcare industry growth we’ve seen in 2018 is certainly paves the path to bring a change in the global healthcare industry growth rate in 2019.
1. Increase in Internet of Things Healthcare Devices Installation: 2019 is only the beginning of a huge breakthrough of the IoT Healthcare Market that is soon to be seen in 2022. It is expected that the market is going to be over $158 Billion (USD). IoT is a integral part of the healthcare industry, and the trend is rising in 2019.
IoT helps in turning data into action, and this helps patients to have a better health condition. It promotes preventive care, and enhances the level of satisfaction of the patients and doctors in the same way.
2. Augmented Reality and Virtual Reality to Take Over: Augmented Reality and Virtual Reality now has a market of over $20 Billion and by 2025 the healthcare industry would have spent close to $5 Billion on VR and AR.
Doctors are more confident during surgeries with the help of VR and AR. This also helps patients to get expert treatments and there are chances of less to no cases of trauma.
3. Asia to be a Hub for Global Drug and have OEMs for Healthcare Devices: If we check the global healthcare industry statistics for last year we see the usage rate of AR and VR rising greatly. IoT has given wings to OEMs in Asia, and there are new healthcare IT products being launched regularly now.
It is estimated that by 2019 a huge investment would be to develop emerging markets in Asia. The global healthcare industry overview shows a rise in start-ups and direct investment from foreign investors for the development of healthcare services.
4. Big Data to Play an Integral Role in Healthcare Development: Big data is all set to keep on growing from it’s already excellent position in the IT industry. By the year 2022, it is going to be over $34 Billion.
5. The Medicare Advantage Plans to be the First Choice: In 2018 the traditional medicare coverage was almost ignored because of more appealing medicare advantage plans being offered at minimum investment. The plans are only going to be more favorable in 2019 as well.
The CMS (Centers for Medicare & Medicaid Services) has announced a ruling, however, the announcement was made too late. However, despite the late announcement there are certainly more medicare advantage plans to be introduced to increase the innovative supplemental benefits.
6. The Rise of Voice Apps is Expected to be Dominant: There are targeted voice technologies introduced by companies such as Apple, Amazon and Google that well suited for the healthcare industry. 2019 is expected to see a range of HIPAA-compliant apps that would promise prominence of advance technology in the industry.
Voice technology is specially for the elderly, the visually impaired and patients in chronic conditions with the need to feel better faster. Vetted clinical use can take advantage of voice apps to improve the quality of medical treatment and for patients with smarter health conditions.
7. Blockchain to Generate ROI: It is anticipated that by the end of 2019, Blockchain apps will move from pilot stage to limited commercial availability. The healthcare sector requires the technology to be more accessible. 2019 is showing great progress in making this happen.
Blockchain is going to demonstrate initial ROIs across B2B focused enterprises. It is expected that up to 10% of the blockchain apps would be commercially available before the beginning of 2020.
8. Cloud Technology to have a Huge Impact on the Healthcare Industry: The Healthcare market has moved far beyond being limited to on-premises servers and just being an enterprise. Cloud technology is fairly new to the industry, however, it is growing tremendously and there are cloud-based apps that are more secure and reliable, and they are being used by people across the globe.
SaaS(Software as a Service): With SaaS the healthcare industry is equipped with a range of on-demand hosted services.
PaaS(Platform as a Service): An online platform can help in developing apps and tools to help an organization, an entity, healthcare centers and others to be up-to-date and stay secured.
IaaS(Infrastructure as a Service): When you need cloud solutions for on-demand computing, it is IaaS that comes in the picture. Medical facilities require storage systems to be handy, secure and easy to access, the cloud solutions are going to be a step ahead in 2019
9. Artificial Intelligence(AI) is the Way Forward: Artificial intelligence is changing the way we go about with our regular chores day to day. The IT app market is expected to cross $1.7 billion (USD) by the end of 2019. Over the next two to three years the productivity improvement seen in business is remarkable. Machine learning is taking over the IT market.
By 2021 it is said that the artificial intelligence health market is going to be over $6 Billion(USD) and this is proof that the healthcare industry this year is going to grow tremendously well.
10.Predictive Analytics Technology to Gain Form in 2019: The work of risk estimation, geo-mapping, and so much more can be made better, and predictive analysis is to be used for simulations and to resolve problems that might arrive in the future.
It is expected that by the end of 2019, around 50% of the healthcare centers are going to use predictive analysis for smooth processing of the treatment processes. Accessing, sharing and analyzing data in the future would depend upon the strategies used today.
At Dreamstel, we offer certain IT services and Salesforce Healthcloud services to healthcare centers and pharmaceutical companies with the need of the latest enhancements in advanced technology.