mHealth will be top growth area in healthcare next year, says Frost
Mobile health (mHealth) will be a top area of growth in the healthcare market next year, according to a survey of 1,835 healthcare executives conducted by Frost & Sullivan.
The explosion in mobile technology and applications has spurred mHealth expansion, which has been supported by the widespread use of mobile devices, such as mobile phones, patient monitoring devices, personal digital assistants and other wireless devices.
Frost expects mHealth technologies to be used increasingly for wireless vital signs monitoring, location-aware telemonitoring systems and Bluetooth wireless technology-enabled health trackers. "It is an exciting area of opportunity for healthcare growth and will provide innovative solutions for stakeholders, both providers and patients alike, across the spectrum," explains Frost & Sullivan.
To accommodate this mHealth expansion, hospitals will need to invest in a "fully enterprise wireless solution" to accommodate the connectivity and security demands of these mobile devices and applications.
The mHealth market is forecast by Allied Market Research to increase at a 32.3 percent compound annual growth rate, reaching $58.8 billion by 2020.
Another area of healthcare market growth is informatics and cloud computing, according to the survey.
Frost expects that the adoption of healthcare informatics will improve the medical services delivery and operational efficiency while reducing costs, with cloud computing playing the role of key enabler.
"Implementing cloud computing technologies appropriately will help healthcare providers improve the quality of medical services and the efficiency of operations, share information across geographic locations and manage expenditures. The concept can be applied in a variety of ways, including data storage and data loss prevention, maintaining patient information records and authorized sharing of information," says the market research firm.
"The advantages that cloud computing provides can change the dynamics of the healthcare informatics industry over time. The need for efficient sharing of information across locations in a synchronised manner will be a key driver for cloud computing in healthcare," the report adds.