Showing posts with label Blog. Show all posts
Showing posts with label Blog. Show all posts

Wednesday, 22 November 2017

How are Augmented Reality and Virtual Reality Changing the Face of Healthcare Market? by @marketsmarkets


Healthcare being one of the most crucial sectors globally has seen immense transformation over the years. The use of modern day technologies in healthcare has made it possible for the physicians to deliver accurate diagnosis along with proper treatment. Virtual reality (VR) and augmented reality (AR) technologies are fast gaining prominence among various sectors, especially the healthcare sector. Over the past two decades, AR and VR have come a long way, with 2016 being a breakthrough year for both. They have revolutionized the healthcare industry with their rapid adoption in various areas of healthcare. It is now possible for the surgeons to see the virtual condition of a patient’s body parts and accordingly conduct minimally invasive surgery that have greater benefits in comparison to the traditional surgeries and treatments. The use of AR/VR modeling and 3D visualization is found to be helpful in the healthcare sector.


Market overview

The global augmented and virtual reality in healthcare market was valued at USD 769.2 Million in 2017, and is estimated to be worth USD 4,997.9 Million by 2023, growing at a CAGR of 36.6% between 2017 and 2023.

Based on type of devices, the head-mounted displays are expected to take up the majority of the market share, and also grow at a high rate over the forecast period. This growth can be majorly contributed to the increased use of HMDs in various applications such as pharmacy management, patient care management, and medical training and education. Also, the use of AR smart glass is further estimated to witness a high growth, thereby boosting the growth of the overall market.

Among applications, the patient care management application is projected to be the leading market, mainly due to the growing use of AR and VR technology in therapies and rehabilitation. However, the surgery application is predicted to grow at the highest rate over the forecast period, owing to the advantages of the AR and VR technologies used in operations and other procedures.

How is the market progressing, geographically?

Among regions, North America held the largest market share in 2016, and is also predicted to be the leading market for augmented reality and virtual reality in healthcare, owing to the cutting-edge technologies used in display devices due to its technologically advanced and developed nature. Moreover, the presence of a number of global companies involved in the AR and VR space for the healthcare applications in the U.S. market is also boosting the growth of this market. However, the market for augmented and virtual reality in healthcare in Asia-Pacific is expected to grow at the highest CAGR by 2023. 

This growth can be attributed to the increase in R&D and the rising acceptance of newer technologies in this region.

What is driving and restraining the market growth?

The growth of the worldwide market for augmented reality and virtual reality in healthcare is majorly being influenced by the following factors:

  • Need for reducing healthcare costs
  • Growing penetration of connected devices in the healthcare sector
  • Increasing investments in healthcare AR and VR

Apart from these, growing demand for AR and VR in emerging economies and usage in fitness management is further expected to create an array of opportunities for the growth of this market.

On the flip side, lack of expertise and knowledge among medical practitioners for the adoption of new technologies and incompetence in deployment of AR and VR solutions are the major factors likely to hinder the growth of this market. Moreover, concerns related to privacy of data, social challenges, and lack of compatibility and interoperability between vendors providing AR and VR solutions are the major challenges to be tackled by the players involved in this market.

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Major players and strategies adopted for sustenance

Google (US), Microsoft (US), DAQRI (US), Psious (Spain), Mindmaze (Switzerland), Firsthand Technology (US), Medical Realities (UK), Atheer (US), Augmedix (US), and Oculus VR (US) are some of the major players involved in the global augmented and virtual reality in healthcare market. These companies are increasingly adopting strategies such as major investments in AR and VR in healthcare and new product launches and developments in order to witness sustained growth as well as maintain their market position. Moreover, various other healthcare IT-enabled companies are venturing in this market in order to gain advantage of the high potential growth that this market has to offer.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Monday, 16 October 2017

A collection of Potential Usecases for #Blockchain in Healthcare


Every once in a while a new technology finds its way in the Gartner Hype Cycle for Technologies (in Healthcare) and its effectiveness and usability is applied to the management and interoperability of Healthcare Records. For instance, access to the Healthcare records by various stakeholders in the care continuum: care providers and patients. 




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Monday, 9 October 2017

Cybersecurity Trends in 2017


Cybersecurity is in the news almost daily and Investment in cybersecurity, by established corporations or venture capital is rising. The stature and business significance of cybersecurity operations within organisations continues its rise to a strategic management issue in every organisation. A dearth of skills shortage continues to impede the progress of a successful cyber defense strategy that can be put in place, this is driving most organizations to increasingly look for outside help be entering into consulting and managed security services contracts.

Rapid Increase in the Investment in Cybersecurity
  • According to Gartner, worldwide spending on cybersecurity increased by 7% as compared to last year and will reach $86.4 billion in 2017.
  • Spending on both cybersecurity services and products is expected to keep growing into 2018, reaching $93 billion by the end of the year.
  • An Enterprise Strategy Group (ESG) survey found that for 39% of organizations, improving cybersecurity is the most important business initiative driving IT spending in 2017 and that 69% of organizations are increasing their cybersecurity budgets in this year alone. 
  • 81% of cybersecurity professionals agree that improving security analytics and operations is a high priority at their organizations.
  • Cybersecurity startup funding hit an all-time quarterly high in terms of number of deals in the first quarter of 2017, up 26% from the previous quarterly high. The trend held through the second quarter, which saw just one fewer deal (145 total) compared to the previous quarter. 
  • The amount of disclosed equity funding to cybersecurity companies has also recently broken records, reaching an all-time quarterly high of $1.6 billion in the second quarter of 2017, according to CB Insights.

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Friday, 29 September 2017

Build #MVP to gather customer intelligence!! by @tejasvdeshmukh #health2con


Over the years working in Healthcare, witnessed endless innovation across the technology landscape over last few years. This is only due to the aspiring moguls who understand the crux of business and would like to capitalize on specific problems using new approaches.
Innovation is everywhere, be it harnessing the data power for population health or using advanced technology to enhance digital health. From Outcome Health, Livongo... toPriorAuthNow, each one of them have addressed a specific healthcare challenge in a unique way. Enhancing clinical outcomes, access to care, and improved operational efficiencies.
We are now living in the era of innovation!!

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Sunday, 24 September 2017

The Return of the Wearables, in a New Avatar by @msharmas


IDC: Smartwatches accelerate in the second quarter, Device shipments grew 10.3% year over year to hit 26.3 million units during the second quarter of 2017; smartwatches grew 60.9%.

We are seeing the transformation of the wearables market with the total shipment volumes expected to maintain their forward momentum. According to the International Data Corporation's (IDC) Worldwide Quarterly Wearable Device Tracker, vendors will ship a total of 125.5 million wearable devices this year, marking a 20.4% increase from the 104.3 million units shipped in 2016From there, the wearables market will nearly double before reaching a total of 240.1 million units shipped in 2021, resulting in a five-year CAGR of 18.2%. [1]

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Monday, 18 September 2017

#AI in Healthcare by @deveshrajadhyax



There are some subjects that invoke sharp and contrasting emotions in the society. In present day India, the GST tops the list of such things that are considered boon by some and curse by others. New technology usually does this to people. The steam engine, the telephone and the computer all have been greeted both as the savior and the nemesis of the mankind. 

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Monday, 11 September 2017

Four ways in which #AI can help humankind @deveshrajadhyax



Artificial Intelligence is receiving more than its fair share of public attention. On one side there are promises of miracles, while on the other side there are warnings of doomsday. What is probably missing is a simple listing of clear benefits. This is article is an attempt to create such a list.

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