Global Healthcare Market to Skyrocket to Nearly $2T in 2018

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Frost & Sullivan’s new analysis, Global Healthcare Industry Outlook, 2018, explores how the global healthcare landscape is expected to evolve in 2018. Even though the given political concerns and rising pressures to decrease healthcare costs, this industry will register globally a stable growth rate of 4.82% during this year.

Key predictions for 2018 growth opportunities in the global healthcare market include;

• X-as-a-Service model will create new revenue streams driving future sustainability for the healthcare industry,
• Cloud will emerge as a core platform since all stakeholders need to expand storage flexibility,
• A major technology company will attain success in FDA's fast-track program on digital therapeutics and health apps,
• Virtual and Remote Clinical Trials adoption will increase and focus on efficiency and patient-centricity,
• Robotics for surgery and care assistance within hospitals will attain high penetration,
• The ongoing digital transformation and the smart city concept will push the need for hospitals to become ‘Smart Hospitals’, Asia-pacific countries will take the lead in this project,
• Despite increased investments by healthcare stakeholders cyber-attacks on the industry are expected to double during 2018, and
• Incentive-based wellness programs will gain more popularity globally and data insight-driven incentives impacting premiums will become standard for payer-corporate partnerships.

“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 (AI), Internet of Medical Things (IoMT), big data analytics, and robotics,” said Frost & Sullivan Transformational Health industry 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.”

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