Government support encourages creation of interoperable standards and disruptive technologies, allowing for growth opportunities, finds Frost & Sullivan's TechVision team
LONDON, April 25, 2017 /PRNewswire/ -- The transformative potential of Big Data analytics (BDA) will be the key to unlocking opportunities in a variety of applications, including precision medicine, remote patient monitoring, drug development, and advanced cancer therapy. The technology has already set in motion changes across the value chain by enhancing health monitoring, personalised healthcare, and maintenance of electronic health records (EHRs).
"The rising pressure to curb healthcare costs and the prevalence of new technologies, such as the Cloud, have stoked growth opportunities for ICT and medical device companies in healthcare BDA," said Frost & Sullivan TechVision Research Analyst Mohammed Jawad. "Entrepreneurship encouragement by the government and ecosystem participants allows startup companies to occupy the role of demanding stakeholders."
Innovations in Big Data Analytics for Healthcare is part of Frost & Sullivan's TechVision (Information & Communication) Growth Partnership Service program. This research presents technology drivers and restraints, application scope, impact of convergence on healthcare and technology roadmap.
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The successful implementation of BDA depends on several external factors, including infrastructure setup costs, and security and privacy concerns. Even though BDA adoption is growing at a rapid pace, the technology is still out of reach for many sectors, with adoption from less than 12 percent of Fortune 500 companies.
In this scenario, government initiatives could prove a game changer. Federal bodies globally are rolling out the necessary tools and applications to assist patients, payers, physicians and other stakeholders in identifying new opportunities in the healthcare space. Government support will continue to catalyse market changes, such as the creation of interoperable standards, application of pattern recognition programs to diagnostics, and personalised care.
Frost & Sullivan's global TechVision practice is focused on innovation, disruption and convergence, and provides a variety of technology-based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision program, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision program is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth. View a summary of our TechVision program by clicking on the following link: http://ifrost.frost.com/TechVision_Demo.
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