Healthcare Cloud Computing to Enhance Clinical Research Processes

22 September 2020: The global healthcare cloud computing market is expected to witness a considerable growth due to factors such as aging population, increase in prevalence of chronic diseases, and integrated information systems in hospitals. Cloud computing provides number of benefits and advantages in the healthcare industry. It helps in reducing operational costs for healthcare providers such as clinics and hospitals by on demand cloud computing and storage facilities.

Cloud can help support the data-heavy health IT technologies and also largely enhance clinical research with maximum support for clinical trial management and knowledge-sharing. Benefits of digital transformation along with IT has positively impacted the healthcare industry and helped healthcare providers make the best treatment decisions and reduce operational costs. 

High Demand for Various Applications Fuels Market Growth

Healthcare cloud computing industry is segmented into application, deployment model, pricing model, service model, and end use. Based on application, the non-clinical information system held a significant share of the market in 2018 due to higher penetration of cloud computing services. Various applications of cloud computing technology include supply chain management, revenue cycle management, fraud management, healthcare information exchange, financial management, accounts management, and billing.

The market witnessed lucrative growth opportunities for clinical information systems due to rising demand for applications such as electronic medical records, telehealth, laboratory information systems, etc. Increasing prevalence of chronic diseases is leading to an increased need for storage of a large amount of clinical information and data, which is resulting in high demand for clinical information systems by medical professionals.

The data collected by healthcare providers through radio images, electronic health records (EHRs), pharmacy sales, insurance claims, lab tests, prescriptions, IoT-enabled devices, and wearables is managed through the technology. The data helps companies generate meaningful insights and also helps in decreasing the cost associated with IT infrastructure in laboratories and hospitals. 

Market Insights

Growing investments by public organizations and several private entities in healthcare IT infrastructure is fueling the growth of healthcare cloud computing. One of the major factors impelling the healthcare cloud computing industry demand is advanced technology in healthcare infrastructure, especially the hospitals in developing countries. The healthcare cloud computing industry is fragmented due to companies incorporating various strategies such as collaborative agreements, mergers and acquisitions, regional expansion, and new product launches to gain competitive advantage. For instance, in November 2018, Ambra Health Declared a collaboration with Google Cloud for advance research on medical imaging data. 

Some of the major companies in the healthcare cloud computing market are CareCloud Corporation; Athenahealth; ClearData Networks, Inc.; Cerner Corporation; Epic Systems Corporation; NextGen Healthcare; Carestream Corporation; Dell, Inc.; DICOM Grid, Inc.; Merge Healthcare, Inc.; Sectra AB; INFINITT Healthcare; Siemens Healthineers; iTelagen, Inc.; NTT DATA Corporation; Ambra Health; and Nuance Communications. 

Technological Advancement in Healthcare Services Boost Healthcare IT Industry

19th May 2020: Healthcare IT includes the development, designing, maintenance, and use of numerous IT systems for the healthcare industry. The healthcare industry has examined a constant shift for value-based care model. This value-based care model is mainly focused on improving the quality of care with the support of meeting regulatory requirements, delivering personalized customer experience, and patient engagement.

Telemarket and Telehealth Sector Account for the Largest Share

The major application variants of the healthcare IT market include electronic prescribing systems, computerized provider order entry systems, lab information systems, electronic health records, PACS, telemedicine and telehealth, clinical information systems, etc. The telemarket and telehealth sector accounted for the largest share in the healthcare IT and is anticipated to expand at the fastest CAGR in the forthcoming period. The factors that are attributed to the growth include large share that comprise of benefits such as simple transfer of information through telecommunication technologies and high usage rates. In addition, changing preferences to evade hospital visits and the need for home healthcare facilities are the factors endorsing this sector’s development.

Electronic Health Records (EHR) segment is followed by telecommunication in terms of share of revenue and anticipated to reach high in the forecast period. As per the Healthcare Information and Management Systems Society, Electronic Health Records (EHR) are longitudinal records associated with the patient health data. 

These records are managed by medical institutes. The application of Electronic Health Records (EHR) is anticipated to reach at the highest CAGR in the forthcoming period on account of factors such as interoperability and user-friendliness. Furthermore, this system offers information, which assists in taking decision associated with the patient’s health in an emergency.  

Market Insights: 

Top policies that are being started by these key companies comprise mergers, acquisitions, and collaborations. These support companies develop innovative and novel solutions to increase their overall presence. 

For instance, in January 2019, Change Healthcare and Experian Health declared partnership for offering identity management solution to evade duplication challenges. This partnership will enable the company to deliver an optimal consumer experience, thereby increasing its customer base.

Leading players operating in the healthcare IT market include Agfa Healthcare; Philips Healthcare; Hewlett-Packard; E-MDS Inc.; GE Healthcare; Athenahealth Inc.; Carestream Health Mckesson Corporation; and Carestream Health eClinicalWorks. 

mHealth Offers Advanced Healthcare Facilities Through Smartphones

24 March 2020: The mHealth market is expected to witness a rapid growth due to rising prevalence of chronic diseases, growing geriatric population, and increasing internet connections. mHealth is medical and public health practices supported by mobile devices. A major benefit of mHealth is its convenience as it enables users to track and manage health data in real time by connecting to wearable devices and other mobile technology. It enables users to connect with healthcare provider without having to be physically present in front of them. 

High Demand for Health Tracking Services to Boost the Market

Monitoring services accounted for the largest segment in terms of revenue in 2017 due to adoption of these services in hospitals. For instance, chronic disease management poses a financial burden and its prevention requires continuous monitoring. mHealth offers these tracking services using modern technologies with cost efficient delivery in healthcare. mHealth systems also help in curbing healthcare spending and in implementing medical diagnosis. This fuels demand for monitoring services boosting the growth of the market.

Diabetes is a prevalent chronic disease, which requires timely diagnosis and monitoring for keeping a check on the condition. Market players are inclined to develop innovative solutions to improve diabetes care and management process. Diagnosis services accounted for the second largest share in terms of revenue in 2017. The growth of the segment is due to research initiatives being undertaken for improving diagnostic practices using mHealth. For instance, in 2017, according to Xtelligent Healthcare Media, LLC, two researchers from the University of Illinois had developed advanced camera to improve diagnostic capabilities using smartphone. It also enabled users to conduct medical test on smartphones that were only possible in labs and clinics earlier.

Market Insights

Healthcare mobility solutions help in workflow management in hospitals, improve operational efficiency, and simplify complex business processes. These benefits along with increasing usage of social media in healthcare are anticipated to drive the industry growth over the forecast period. Factors such as lower adoption of the technology due to lack of technological awareness, ageing population, and uncertainty of government norms and regulations are restricting the market growth. 

Some of the key players of mHealth market are AllScripts Healthcare Solutions; Telefonica; Apple Inc.; Orange; AirStrip Technologies; Qualcomm Inc.; AT&T;Softserve; Samsung Electronics; Google Inc.; Vodafone Group; and mQure. 

Ophthalmology PACS Market Size Worth $170.96 Million By 2025

11th April 2019: Ophthalmology PACS can be referred to a system that can be used by medical professionals to get essential information related to patients with eye disorders. Such information can help these professionals with effective diagnosis and treatment of patients. Picture archiving and communication system (PACS) can be defined as system that can store, capture, and display medical images. These images can be transmitted digitally from one computer to another for convenience of healthcare professionals.  

   

Artificial Intelligence to Offer Improved Healthcare Solutions

Major product variants of ophthalmology PACS are integrated and standalone. Integrated segment is expected to hold significant market share during the forecast period. These systems can integrate clinical applications including functional integration, data integration, context integration, and presentation integration. Thereby, system can be used diagnostic devices to provide physicians with an ability to review diagnosis outcomes and patient reports from anywhere and anytime. Product developments and technological advancements are likely to propel segment’s growth in coming years. For instance, IBM and Anthem recently signed an agreement to work together and drive Anthem’s digital transformation. This transformation is likely to improve digital experience for consumers in coming years. Companies are expected to use artificial intelligence (AI) to provide improved healthcare solutions for consumers. In another instance, IBM Watson Health is expected to offer Merge Eye Care PACS system. This system can automatically import and integrate reports and images from multiple modalities into single review. In addition it can accommodate multiple user workflows to support quick diagnosis and improved healthcare.   

Market Insights

The global ophthalmology PACS market is anticipated to reach USD 170.96 million by 2025, according to a report by Grand View Research, Inc. Growing prevalence of eye diseases including macular degeneration, cataract, diabetic retinopathy, and glaucoma can augment market growth. Increasing use of teleophthalmology solutions owing to lack of optometrists and ophthalmologists can impel growth of market in coming years. Growing adoption of electronic medical records (EMR) and electronic health records (EHR) systems to get complete and accurate information regarding patients can stimulate market growth. Such information can help healthcare providers by reducing medical errors and improving medical diagnostic procedures. Hence, supportive government initiatives to promote use of HER and EMR can drive the market during the forecast period (2014 to 2025).  

Some of the leading companies operating in the market for ophthalmology PACS market are Carl Zeiss Meditec AG; Topcon Corp., Heidelberg Engineering GmbH, Visbion Ltd., and Sonomed Escalon.

E-Pharma: A Potential Game-changer for the Pharma Industry

An e-Pharma operates over the Internet and allows quick and easy access to health-related information and guidance from expert professionals. Individuals who seek advice on their health signs, treatment options, and medication dosage from experts or those who want to discuss the possible adverse-effects of a treatment can benefit from such pharmacies. Major advantages of e-Pharma include:

• Easy access to health-related information

• Quick treatment and advices from professionals

• Discreet services and efficient delivery

• Improved convenience

E-pharmacy is very popular in developed regions due to high adoption levels of e-commerce and is expected to expand in various developing regions as well over the next few years.

e-Pharma to Witness the Fastest Growth in Asia Pacific

North America led the regional segment in 2016 accounting for the largest share due to the presence of well-established pharmacies in the region. Other factors driving the regional expansion are a rise in online shoppers and growing elderly population. The Asia Pacific (APAC) region is anticipated to witness the fastest growth rate in the forthcoming years. This expansion is attributed to the presence of large pool of target population.

China and other emerging countries in the APAC region are likely to offer many opportunities for the region’s growth. In addition, changing regulations in this region along with a rise in the demand for consumer healthcare products due to changing lifestyles can further boost the regional development. Factors such as investments by international companies due to low labor costs, penetration of web-based technologies, and rising number of online shoppers can also spur business opportunities in near future.

Market Overview

According to a report by Grand View Research, Inc.; the global e-pharma market is anticipated to reach USD 109.2 billion by 2025 growing at a CAGR of 14.8% over the forecast period. Factors responsible for the market expansion include the rising number of internet users and better access to web-based services, improved healthcare infrastructure, and increased awareness regarding e-commerce among users across the globe. 

High number of online pharmacies and hefty investments in emerging regions is anticipated to propel the growth in demand for e-pharma over the forecast period. For example, RPG Ventures has invested USD 600, 000 in an e-pharma called MedsOnWay. According to the company, this investment is part of their plan to incubate and start new businesses.

OptumRx, Inc.; Wal-Mart Stores, Inc.; The Kroger Co.; Express Scripts Holding Co.; and The Walgreen Co. are the key companies in the global market.

In-depth research report on e-pharma market click the below link:

www.grandviewresearch.com/industry-analysis/epharmacies-market

Healthcare Electronic Data Interchange (EDI) For Better Healthcare Delivery

Healthcare electronic data interchange (EDI) is a standardized way of transaction that ensures reliable bi-directional flow of data. It can solve the complications related to integration, interoperability between healthcare providers, payers, pharmaceutical and medical device industries.

The healthcare industry processes enormous number of documents, health insurance settlements, patient medical records, and healthcare claims, among others. The electronic data interchange is better than traditional paper form as it creates rapid, accurate, secure and complete information. It also enables efficient information retrieval, thus, improving the quality of healthcare delivery and reducing healthcare expenditure.

Flexible and Affordable Web and Cloud-based Delivery to Lead through 2025

Several delivery methods or approaches are used for delivering EDI services or solutions include web and cloud-based EDI, mobile EDI, secure file transfer protocol (SFTP), file transfer protocol over virtual private network (FTP/VPN), direct (Point-to-Point) EDI, and EDI value added network (VAN). The web and cloud-based EDI are flexible and affordable. Therefore this segment is expected to witness high demand from small and medium-sized healthcare providers. Advancements in web-based EDI have resolved many issues regarding confidentiality, authentication, and data integrity. In addition, improving web-based standards and extensive use of Extensible Markup Language (XML) may also support the growth.

Web and cloud based applications can be widely used for medical and dental patient database management and insurance and reimbursement data management. For instance, Zoeticx, Inc., a medical software provider has recently launched a cloud app called ProVizion Wellness exclusively for hospitals and other healthcare providers. This application can be used for streamlining data integration for annual wellness visits (AWV) covered by private insurers. This system improves management abilities to support tracking facility on population progress for AWVs. This application can be integrated with any deployed EHR system with negligible workflow impact.

Market Overview

According to the findings of Grand View Research, Inc.; the worldwide healthcare electronic data interchange (EDI) market is likely to attain nearly USD 5.9 billion by 2025. Increasing need for reducing healthcare expenses and strong government support for healthcare IT can propel the market over the forecast period (2014 to 2025).

North America is anticipated to dominate the market during the study period owing to high demand for innovative IT solutions to streamline workflows.

Some of the leading companies operating in the market are Experian Information Solutions, Inc.; Allscripts Healthcare Solutions Inc.; GE Healthcare; Optum, Inc.; and Siemens Healthineers.

Access full research report at:

www.grandviewresearch.com/industry-analysis/healthcare-electronic-data-interchange-edi-market

Veterinary reference laboratories (VRL) market is expected to reach USD 5.13 billion by 2025

The global veterinary reference laboratories (VRL) market is expected to reach USD 5.13 billion by 2025, according to a new report by Grand View Research, Inc. Increase in incidence of zoonotic diseases is a key driving factor for market growth. Increase in adoption of integrated diagnostic systems coupled with information ecosystems for veterinary diagnostics is anticipated to fuel development.

Rise in demand for advanced diagnostic tests and growing awareness amongst consumers are some of the factors expected to boostdemandover the coming years. Moreover, companies are investing in R&D for the advancement of test kits for cost-effective diagnosis & monitoring of animal health, which is expected to boost growth. Some of the advancements in this market include efficient information management systems used in animal diagnostic applications, vaccine banks, and mobile apps for continuous monitoring. High focus toward innovation in veterinary health is anticipated to fuel the demand for reference labs. For instance, Innovative Medicines Initiative (IMI) is a public-private partnership that supports pharmaceutical innovations in Europe.

In addition, MediLabSecure, a laboratory network project was established, which aims to identify emerging viruses& pathogens in 19 countries in the Mediterranean regions and 57 labs were involved. Furthermore, increase in the number of government initiatives to promote veterinary diagnostics products is presumed to drive the overall growth. 

Further Key Findings From the Study Suggest:

• The clinical chemistry analyzers segment held the dominant share of the market as of 2016 owing to growing demand for veterinary diagnostics products

• Increase ininstances of contamination in pet foods that causesevere illnesses and deaths amongst animalsis expected to boost the demand for toxicology testing services

• Production animals accounted for largest revenue share in 2016 owing to their highest consumption rate

• The market was dominated by North America and is expected to retain its position throughout the forecast period

• Presence of prominent industry players, advanced healthcare infrastructure, and high healthcare expenditure are some of the factors responsible for growth

• Companies offering reference laboratories are focusing on the development of cost-effective diagnostic solutions for animal health

• IDEXX Laboratories, Inc. held a dominant share owing to its presence across the globe and a wide product portfolio of advanced diagnostic tests

• Strategies such as regional expansion, new product developments, merger & acquisitions, and research collaborations are anticipated to propel growth

• For instance, inJanuary 2017, Mars, Inc. announced the agreement for acquiring VCA Inc. in a probe to capture higher share

Read more at:
http://www.grandviewresearch.com/industry-analysis/veterinary-reference-laboratory-vrl-market

eCOA Solutions: A Cost-Effective Tool for Drug Development

Prevalence of chronic diseases has led to the need for accurate data in clinical trials. Electronic Clinical Outcome Assessment (eCOA) solutions can provide efficient and astute data. This information about patient response can speed up drug & vaccine administration.

eCOA Solutions for Medical Data Collection

Electronic clinical outcome assessment (eCOA) solutions can collect error-free patient data. These methods employ electronic devices such as tablets, personal computers, and smartphones for data collection. They can increase the efficiency of clinical trial data and can speed up drug approval of the regulatory agencies. The eCOA solutions can also predict possibility of future health issues. In addition, they can reduce the reliance on paper and overheads.

Digital Rating Scales

Recently, Bracket Global, a company specializing in clinical research technologies, has signed a pact with the International Parkinson and Movement Disorder Society (MDS). They aim to develop digital versions of rating scales that can monitor progression of Parkinson’s disease (PD). They plan to utilize Unified Dyskinesia Rating Scale (UDysRS) and MDS-Unified Parkinson's Disease Rating Scale (MDS-UPDRS) to obtain accurate data.

Wearable Kits

In 2017, Cognition Kit partnered with Takeda Pharmaceuticals to test capacity of wearables to store clinical data. Their cloud platform, Cambridge Neuropsychological Test Automated Battery (CANTAB), can assist researchers to assess mental & physical health as well as other variables for diverse cognitive assessments.

Market Overview

According to Grand View Research, Inc.; the worldwide electronic clinical outcome assessment (eCOA) solutions market is anticipated to attain USD 2.16 billion by 2025. High adoption by healthcare professionals can impel the market during the forecast period (2014 to 2025). Demand for centralized data storage systems for drug development research and clinical studies can further support market expansion over the years to come.

Web-hosted mode led the overall market on account of revenue share in 2016. Cloud-based mode on the other hand, is expected to gain impressive market shares in the forthcoming years. Its capacity to minimize data theft can propel the adoption. Contract research organizations (CROs) are anticipated to reign as the biggest end-user till 2025. Strong incoming demand from pharmaceutical companies can boost the expansion. Prominent players operating in the global eCOA market are Merge Healthcare Incorporated, CRF Health, BioClinica, and Oracle Corporation.

Read more at:
http://www.grandviewresearch.com/industry-analysis/electronic-clinical-outcome-assessment-ecoa-solutions-market

Dental Practice Management Software - Better Products, Innovative Administration!

Dentistry has evolved considerably over the last few years. While running dental practices, offering patients the best care & staying up-to-date with the latest technological innovations can be a bit challenging, but is very important.

Cloud Technology 

The advent of cloud technology has brought many advantages to different businesses, including dentistry. Dentists now use revolutionary software & apps for modern & effective practices. Other benefits of cloud-based dental software include access to records anywhere & anytime, such as through mobile devices; easy updates of software; and enhanced care.

High-Tech Products

There are several companies in the dental practice management software market. The Software of Excellence, part of the Henry Schein Group, is one such global leader that provides the most advanced practice management software. 

•   OASiS V11 Dental Practice Management Software

It is an affordable & flexible software for dental practices. This software improves the productivity & workflow.

•   EXACT Practice Management

It is an intelligent & powerful software that improves business performance. The software computerizes many routine, but vital, management tasks that jointly determine the success of a dental practice. It provides wide-range of patient database along with scheduling tools & smart financial package that enables better time management.

Market - Overview

The global dental practice management software market is anticipated to grow healthily at over 6.8% CAGR during the forecast period (2016 to 2024). It should reach around USD 1.5 billion by 2024. This growth can be ascribed to the rising elderly population and regulatory initiatives in oral healthcare. 

Some key companies operating in the worldwide market are Henry Schein Inc.; DentiMax LLC; Patterson Companies, Inc.; and NextGen Healthcare Information Systems, LLC. These industry giants present various solutions with tailored modules for different clinics. Few companies resort to mergers & acquisitions and technological advancements to gain considerable share of the market.

In-depth report on dental practice management software market by Grand View Research:
http://www.grandviewresearch.com/industry-analysis/dental-practice-management-software-market