Skip to main content

Digital Healthcare Advances via Remote Monitoring Apps

The Juniper Research digital healthcare ecosystem model highlights the flow of products and services from service providers to their patients and the flow of influence from the patients.

The dynamics of the ecosystem are changing with patients having more influence on how they are treated and providing information back to developers, vendors and healthcare service providers.

Digital Healthcare Market Development

New findings from Juniper Research reveal that wearables, including health trackers and remote patient monitoring devices, are set to become ‘must haves’ in delivering healthcare, with $20 billion forecast to be spent annually on these devices by 2023.

Meanwhile, assistive hearables, or connected hearing aids made available via healthcare providers, as well as directly to customers at varying price models, will mean this sector generates revenues of over $40 billion by 2022.

Their latest market study found that adoption of healthcare wearables will be driven by improvements in remote patient monitoring technology -- in addition to increased adoption by medical institutions.

Juniper forecasts that 5 million individuals will be remotely monitored by healthcare providers by 2023.

Juniper believes that the advanced ability of AI-enabled software analytics to proactively identify individuals at risk of their condition worsening will witness increased confidence among medical practitioners and regulators with regard to sensor accuracy.

As wearables become part of patients’ treatment plans, OEMs will seek to adjust their business models and generate revenues from devices being monitored.

For example, selling data produced by the devices to insurance providers. Juniper forecasts that service revenues of this nature will reach $855 million by 2023.

Outlook for Digital Healthcare Applications

However, data privacy and consent will continue to be a significant barrier. Improving healthcare systems, such as using AI-enabled software analytics, is contingent on patient data being anonymized. Some insurance providers are changing the dynamics. In order to be covered, they require a data feed from the policyholder’s device.

"It is vital that patients are made aware of how their personal data will be used. If not, making wearables a ‘must have’ to provide personalized care or receive medical insurance risks a backlash from patients and heightened regulatory scrutiny; stalling the effectiveness of remote monitoring," said Michael Larner, analyst at Juniper Research.

Popular posts from this blog

Demand for Quantum Computing as a Service

The enterprise demand for quantum computing is still in its early stages, growing slowly. As the technology becomes more usable, we may see demand evolve beyond scientific applications. The global quantum computing market is forecast to grow from $1.1 billion in 2022 to $7.6 billion in 2027, according to the latest worldwide market study by International Data Corporation (IDC). That's a five-year compound annual growth rate (CAGR) of 48.1 percent. The forecast includes base Quantum Computing as a Service, as well as enabling and adjacent Quantum Computing as a Service. However, this updated forecast is considerably lower than IDC's previous quantum computing forecast, which was published in 2021, due to lower demand globally. Quantum Computing Market Development In the interim, customer spend for quantum computing has been negatively impacted by several factors, including: slower than expected advances in quantum hardware development, which have delayed potential return on inve

AI Semiconductor Revenue will Reach $119.4B

The Chief Information Officer (CIO) and/or the Chief Technology Officer (CTO) will guide Generative AI initiatives within the large enterprise C-Suite. They may already have the technical expertise and experience to understand the capabilities and limitations of Gen AI. They also have the authority and budget to make the necessary investments in infrastructure and talent to support Gen AI initiatives. Enterprise AI infrastructure is proven to be expensive to build, operate and maintain. That's why public cloud service provider solutions are often used for new AI use cases. AI Semiconductor Market Development Semiconductors designed to execute Artificial Intelligence (AI) workloads will represent a $53.4 billion revenue opportunity for the global semiconductor industry in 2023, an increase of 20.9 percent from 2022, according to the latest worldwide market study by Gartner. "The developments in generative AI and the increasing use of a wide range AI-based applications in data c

Industrial Cloud Computing Apps Gain Momentum

In the manufacturing industry, cloud computing can help leaders improve their production efficiency by providing them with real-time data about their operations. This has gained the attention of the C-suite. Total forecast Industrial Cloud platform revenue in manufacturing will surpass $300 billion by 2033 with a CAGR of 22.57 percent, driven by solution providers enhancing platform interoperability while expanding partner ecosystems for application development. ABI Research found the cloud computing manufacturing market will grow over the next decade due to the adoption of new architectural frameworks that enhance data extraction and interoperability for manufacturers looking to maximize utility from their data. Industrial Cloud Computing Market Development "Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers. The large initial upfront cost of purchasing, setting up, and maintaining these servers is