Study of Connected Healthcare Industry

Connected health, also known as technology-enabled care (TEC), involves the convergence of health technology, digital media, and mobile devices. It enables patients, carers, and healthcare professionals (HCPs) to access data and information more easily and improve the quality and outcomes of both health and social care.

TEC is capable of providing cost-effective solutions at a time when the demands on health and social care services continue to increase due to the UK’s growing and aging population, the rising costs of advanced medical treatments, and severely constrained health and social care budgets. Indeed, the wide-scale adoption of TEC will be essential for sustaining the future health and social care system.

Opportunities for using mobile technology have improved in the last few years with the growing population of smartphone and tablet users in the UK, even among older age groups, supported by a proliferation of health apps, although only a few are currently being used extensively. Other notable developments are the availability of healthcare ‘biosensing’ wearables, such as digital blood pressure monitors and glucose sensors, and patient and provider access to real-time healthcare data and information. Additionally, smartphones are incorporating a growing range of sensors that monitor changes in physiology.

A further problem is that TEC solutions have been technology-driven, often without the involvement of the people they are aimed at. HCPs are often reluctant to engage with technology, partly due to the scale and pace of changes, and partly through lack of education and training, and concerns over liability and funding.

Technology has the power to improve access to healthcare services, especially for people with mobility problems. This is recognized by the UK government, but there are concerns about the inequality of access to technology due to the cost and differences in broadband speeds. There are also challenges due to the lack of interoperable patient records.

Technology has the power to improve access to healthcare services, especially for people with mobility problems. This is recognized by the UK government, but there are concerns about the inequality of access to technology due to the cost and differences in broadband speeds.

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There are also challenges due to the lack of interoperable patient records.

Mobile technology can empower patients and carers by giving them more control over their health and making them less dependent on HCPs for health information. They can use digital technology to research information online, share experiences, and identify treatment options. Its use in providing access to information and education is an important driver of patient engagement. The most widely available health apps have been fitness, medical reference, and wellness apps. While these apps provide information, many currently lack the functionality to do more in relation to health.

Accelerate The Growth

Factors such as compact and accurate diagnosis medical devices, high end and energy-efficient connected healthcare; devices for treatment applications and rising spending on research and development activities to manufacture cost-effective and efficient medical devices is expected to accelerate the growth of connected healthcare market.

On the other hand, increasing consumer awareness towards the treatment of multiple disorders and increasing spending on healthcare on account of favorable reimbursement policies is expected to push the hospitals and clinics to adopt a connected healthcare market to provide better diagnosis and treatment facilities to the patients.

Moreover, the growing demand for app-based services in developing nations on the basis of factors such as changing lifestyle of the population, internet penetration, and rising personal disposable income in developing nations further boost the demand for connected healthcare.

Challenges To Overcome

•The rural population of the world is more than half of the total population (52%), whereas 48% population are living in urban areas.

•Lack of awareness towards medical devices & treatments in rural regions is hindering the growth of the connected healthcare market at a large scale.

•Due to the unavailability of medical services & facilities in many underdeveloped regions, hence deprived the population to experience the treatment facilities with sophisticated technology-based medical devices

•The absence of convenience of healthcare facilities & less disposable income in rural regions across the globe are restraining the demand for the connected healthcare market.

  • Population living below the poverty line across the globe are deprived of home healthcare facilities and unable to opt expensive services for treatments & cure.

Opportunities To Consider

•mHealth devices such as blood glucose meters, BP monitors, pulse oximetry, neurological monitoring device, apnea, and sleep monitors have the future scope in the connected healthcare market

•Diagnosis services, monitoring services, prevention and treatment and wellness, and healthcare system strengthening solutions mHealth services seem to acquire the largest portion of the connected healthcare market.

•In application, cardiovascular diseases would be the largest revenue-generating segment by 2024 followed by diabetes, neurological, and respiratory diseases market.

  • APAC with an increasing adoption rate of connected healthcare tends to create opportunities for the major players in the connected healthcare market.
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