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Digital Transformation Leads to New Growth Strategies for Stakeholders
02-Mar-2021
North America
Market Outlook
MFEA-01-00-00-00
HC03397-NA-MO_25277
The global COVID-19 pandemic and other geo-political events left many businesses facing an unprecedented state of uncertainty. Healthcare companies across the care continuum remain grappling with these new challenges, of which the extent and longevity remain unknown. Spurred by the year’s events, healthcare delivery has accelerated its transformation, and the concept of anytime-anywhere care has taken course to become mainstream. Digital health applications—especially telehealth and remote patient monitoring—saw tremendous demand as the only means to continue care delivery for many during the pandemic.
To align with the new normal, vendors will need to redefine their visions and strategies, ensuring they are ready to tackle 2021 and beyond. Use of artificial intelligence (AI) across the spectrum of applications, cloud computing, patient engagement solutions, and home monitoring represent strong opportunities for growth. The new vision for healthcare in 2021 will focus on access, quality, and affordability, in addition to strategies designed to overcome the losses sustained in 2020, while ensuring healthcare remains precise, preventive, and outcome-based in the promotion of social and financial inclusion.
Research Highlights
This study covers aspects of the global healthcare industry that develop and provide products, solutions, and/or services across the care spectrum for diagnosis, treatment, and prevention. Key sectors considered in the study scope are pharmaceuticals and biotechnology (pharma & biotech); in-vitro diagnostics (IVD); advanced medical technologies; medical imaging and informatics; and digital health. The study period is 2019 to 2025 using a base year of 2020.
The 2021 Outlook concludes with a discussion of five growth opportunities identified by Frost & Sullivan as the major areas where competitors in this space must take action.
Author: Chandni Mathur
Key Highlights of the Global Healthcare Industry
Challenges Faced by the Global Healthcare Industry in 2020
How Did We Fare? Pre-COVID-19 Predictions for 2020
How Did We Fare? Pre-COVID-19 Predictions for 2020 Explained
How Did We Fare? Pre-COVID-19 Predictions for 2020 Explained (continued)
How Did We Fare? Post-COVID-19 Predictions for 2020
How Did We Fare? Post-COVID-19 Predictions for 2020 Explained
Global Healthcare Industry Historic Sales and Forecast
Top Predictions for 2021
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Global Healthcare Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Research Scope
Market Segmentation
Key Macro-economic Factors Impacting Healthcare in 2021
COVID-19 Impact on World GDP Growth
COVID-19 Impact on Key Regions
COVID-19 Impact on Healthcare Sectors
Implication of Brexit on the Healthcare Industry
Implication of the Joe Biden Presidency in the United States
Global Healthcare Market Impact of Macro-economic Factors
Global Healthcare Industry Historic Sales and Forecast
Global Healthcare Industry Historic Sales and Forecast (continued)
Sector Performance—Historic Sales and Forecast
Sector Performance—Historic Sales and Forecast (continued)
Global Healthcare Revenue by Region in 2021
Top Predictions for 2021
Prediction 1—By the End 2021, Approximately 4.12 Billion COVID-19 Vaccine Doses will be Delivered Globally to Immunize Three Priority Get Groups
Vaccine Distribution and Uptake Determine Large-scale Immunization in Low- and Middle-income Countries
Comparison of Key COVID-19 Vaccine Candidates in Advanced Stage of Development
Key Advanced Stage COVID-19 Therapeutics Candidates
Prediction 2—Globally, Approximately 35% of Patient Interactions will Go Virtual as the Physician will No Longer be the Automatic First Touch Point
Prediction 3—Up to 75% of Hospitals’ Capital Equipment Budgets will be Diverted to Other Immediate Needs; Flexible Pricing Models Become the Norm
Prediction 4—US Hospital Margins will Improve from Q2’21 to 1–5% with New Revenue Innovation and Reimbursement Transformation
Prediction 5—Imaging IT will See Investments Worth $2 Billion in High-growth Areas as Enterprise IT, Imaging Workflow Efficiency, Interoperability, and Analytics Become Critical
Prediction 6—Multi-gene Panels and NGS Tests will Emerge as a New Testing Standard for NSCLC and Colorectal and Prostate Cancer Treatment Pathways, Projecting an Opportunity of About $1.7 Billion by End of 2021
Prediction 7—The Virtual Care Market Absorbs Telehealth as Solutions Expand to Offer Integrated Offerings Across the Care Continuum
Prediction 8—More than 25% of Interventional Medical Equipment Application Support Specialist Interactions with Hospital Surgical Teams will Happen Remotely; Hybrid Models of Interaction (In-person and Remote) will Become More Common
Prediction 9—Behavioral Health will Drive Increased Growth in the Digital Therapeutics Market by Three Times from 2021 to 2023
Prediction 10—Up to 50 New Deals will Lead to $2.0 Billion in Spending on Imaging Solutions Via Enterprise-Customer Partnership Models
Pharmaceuticals and Biotechnology—2021 Market Snapshot
Pharmaceuticals and Biotechnology—Key Growth Opportunities for 2021–2025
Pharmaceuticals and Biotechnology—Companies to Watch
In-vitro Diagnostics—2021 Market Snapshot
In-vitro Diagnostics—Key Growth Opportunities for 2021–2025
In-vitro Diagnostics—Companies to Watch
Advanced Medical Technologies—2021 Market Snapshot
Advanced Medical Technologies—Key Growth Opportunities for 2021–2025
Advanced Medical Technologies—Companies to Watch
Medical Imaging and Informatics—2021 Market Snapshot
Medical Imaging and Informatics—Key Growth Opportunities for 2021–2025
Medical Imaging and Informatics—Companies to Watch
Digital Health—2021 Market Snapshot
Digital Health—Key Growth Opportunities for 2021–2025
Digital Health—Companies to Watch
2021 Predictions—US
2021 Predictions—Latin America
2021 Predictions—Europe (Excluding the UK)
2021 Predictions—The UK
2021 Predictions—The Middle East
2021 Predictions—Africa
2021 Predictions—Japan
2021 Predictions—China
2021 Predictions—India
2021 Predictions—South Korea
2021 Predictions—Australia and New Zealand
Growth Opportunity 1: Real-world Data-supported Approaches for Increasing the Adoption of I-O Agents into Standard of Care, 2021
Growth Opportunity 1: Real-world Data-supported Approaches for Increasing the Adoption of I-O Agents into Standard of Care, 2021 (continued)
Growth Opportunity 2: Digital POCT Platforms for Infectious Disease Testing, 2021
Growth Opportunity 2: Digital POCT Platforms for Infectious Disease Testing, 2021 (continued)
Growth Opportunity 3: Virtual Platforms in High-acuity Care for Optimizing Workflow and Improving Clinical Outcomes, 2021
Growth Opportunity 3: Virtual Platforms in High-acuity Care for Optimizing Workflow and Improving Clinical Outcomes, 2021 (continued)
Growth Opportunity 4: AI in Imaging for Optimizing Workflow and Improving Clinical Outcomes, 2021
Growth Opportunity 4: AI in Imaging for Optimizing Workflow and Improving Clinical Outcomes, 2021 (continued)
Growth Opportunity 5: Telehealth Expansion of Services Towards Virtual Care Across the Care Continuum, 2021
Growth Opportunity 5: Telehealth Expansion of Services Towards Virtual Care Across the Care Continuum, 2021 (continued)
Key Concluding Thoughts
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
Market Definition—Pharmaceuticals and Biotechnology
Market Definition—In-vitro Diagnostics
Market Definition—Medical Technologies
Market Definition—Medical Technologies (continued)
Market Definition—Medical Imaging and Informatics
Market Definition—Healthcare IT
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Research Highlights
This study covers aspects of the global healthcare industry that develop and provide products, solutions, and/or services across the care spectrum for diagnosis, treatment, and prevention. Key sectors considered in the study scope are pharmaceuticals and biotechnology (pharma & biotech); in-vitro diagnostics (IVD); advanced medical technologies; medical imaging and informatics; and digital health. The study period is 2019 to 2025 using a base year of 2020.
The 2021 Outlook concludes with a discussion of five growth opportunities identified by Frost & Sullivan as the major areas where competitors in this space must take action.
Author: Chandni Mathur
| Deliverable Type | Market Outlook |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Chandni Mathur |
| Industries | Healthcare |
| WIP Number | MFEA-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9564-B1,9575-B1,9600-B1,9612-B1,9825-B1,9A51-B1,9A52-B1,9A53-B1,9A54-B1,9A56-B1,9A06-B1,9A55-B1,9562-B1,9566-B1,9570-B1,9571-B1,9573-B1,99BB-B1,99BC-B1,99BD-B1,99BF-B1,99C0-B1,99C1-B1,99C6-B1,99C9-B1,99CB-B1,99CC-B1,9A47-B1,9A48-B1,9A49-B1,9A4B-B1,99BE-B1 |
Developing Innovative ROI Streams and Patient-centric Virtual Care Approaches will Shape the Global Healthcare Industry, Outlook 2021
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