Frost & Sullivan — a consulting firm involved in market research, analysis and growth strategy — released a report detailing their predictions for the global healthcare industry in 2018.
The report, titled Global Healthcare Industry Outlook, 2018, explores how the healthcare landscape will evolve in 2018.
Here are six key predictions, according to Frost & Sullivan.
1. The global healthcare market will grow in 2018. Despite political uncertainty and public pressure to decrease healthcare costs, the healthcare market will grow by approximately 4.82 percent this year.
2. Cloud technology will emerge as a core platform, due to a market need to expand storage flexibility.
3. A major technology company will achieve success in the FDA's pre-certification program. In September 2017, the FDA selected nine digital health companies, including Apple and FitBit, for participation in its pre-certification pilot program. The program will streamline FDA approvals for digital health technologies by reviewing developers rather than their individual products. The fast-track program focuses on digital therapeutics and health apps.
4. Cyberattacks on the healthcare industry will double in 2018, despite an industry-wide push to increase cybersecurity.
5. The number of virtual and remote clinical trials will increase. The demand for efficient and patient-focused care is driving the demand for remote clinical trials.
6. Incentive-based wellness programs will gain traction and popularity.
"Even though 2017 was a year full of spectacular advancements in healthcare, 2018 will be the year of digital health technologies such as artificial intelligence and internet of medical things," said Frost & Sullivan analyst Kamaljit Behera. "Non-healthcare companies will continue to collaborate with healthcare industry players to transform these technologies into actionable applications that will drive growth opportunities across the globe."
To read the full report, click here.