January 16, 2017 — Frost & Sullivan has released a new report, “Vision 2025 – Future of Healthcare,” part of the company’s Advanced Medical Technologies, that identifies 18 technologies that will impact healthcare paradigms by 2025.
Technology-driven transformation in global healthcare demands that stakeholders identify influential technologies and re-strategize to ride the strongest growth currents. As healthcare moves to the anytime, anyplace, continuous and personalized care model, technological advances are unlocking values and previously inaccessible segments.
“Although these technologies are making waves within research, two aspects must be weighed to assess potential market impact,” noted Frost & Sullivan Transformational Health Research Analyst Siddharth Shah. “The first is the commercialization and maturity timelines for these technologies. The second is aligning the technologies with Healthcare 2025 trends and themes in order to successfully leverage growth opportunities.”
Some technologies set to create billion-dollar opportunities, according to the report, include: wearables, enhanced prosthetics, nanorobotics, electroceuticals, advanced materials, population health analytics, quantum computing, wellness gamification, regenerative medicine and precision medicine.
To be profitable, companies must identify the technologies that will impact their business and invest accordingly, according to Frost & Sullivan. For instance:
- Artificial intelligence (AI) is set to speed up the analysis of large volumes of data to efficiency levels that exceed human capability;
- Brain-computer interfaces can connect a “wired” brain directly with an external device for “neural bypass,” which will help paralyzed patients move or blind patients see;
- Digital avatars offer holographic projections of doctors to answer health queries, similar to voice assistants like Cortana and Siri; and
- Medical tricorders can record health vitals and parameters to diagnose a range of health conditions without a physician.
Frost & Sullivan’s analysis offers timeframes for commercialization and indicates when significant on-the-ground healthcare impact will be seen for each technology. Some of the frontrunners in the race for enabling healthcare technologies include IBM Watson Health with its AI for healthcare, Organovo for 3-D bioprinting, DeepStream VR for its virtual reality applications, and QualComm with its $10 million tricorderX inducement prize contest to develop medical tricorders.
For more information: www.frost.com