Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
Time for a Digital Revolution in the Women’s Health Market
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Data-Enabled Growth Strategies Counterbalance Competitive Intensity
* Required Fields
Pay by invoice
With the advent of digitization in healthcare, all industry efforts are geared toward better leveraging this stream of digital data to achieve the goals of precision medicine and precision health. The amount of health data that is becoming available is increasing exponentially each year, with new sources, such as wearable devices and social determinants of health, making such data accessible for care delivery improvement. It is estimated that the healthcare industry generated over 2,000 exabytes (1 exabyte = 10,002 Terabytes) of data in 2020. The question is how can we monetize this data?For data monetization, healthcare is a unique industry due to two reasons. First, the issues of privacy are more complex in healthcare, governed by an increasingly complicated set of regulations. Second, the source of the data is almost always a patient, but where it is generated (care delivery location, a clinical trial, or academic research), who uses it (physicians, nurses, hospitals, payers, pharmaceutical companies, or MedTech companies), and for what use case (improving care delivery, personalizing medicine, drug/device R&D, or lowering costs) are completely different from other industries. In this study, we explain the difference between direct and indirect data monetization, how it applies to the healthcare industry and specifically the MedTech sector, provide a framework for MedTech companies to assess the data monetization potential for each of their products, and give examples of monetization for medical devices, surgical equipment, imaging equipment, prostheses and implants, and consumables, along with a final strategic decision-making checklist for MedTech companies to monetize their own data.
Key Issues Addressed
Author: Siddharth Shah
commercial aviation market
wound care market
digital signage market
smart grid market
wireless charging market
energy storage market
commercial uav market
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.