Big Data shines in Healthcare domain

big data in healthcareIn the recent genre, Big data is generating a lot of hype in the changing technological domain. Consequently, it is becoming a hot and trending topic of discussion. On the health care front, it continues to incorporate ideas and challenges the healthcare professions. Nevertheless, the opportunities are humongous and there is an improving patient reliability status with the advent of several cost-effective procedures.

Big data is continuously growing to provide the healthcare technology sector with volume, velocity, and variety. Additionally, it is leveraging itself to a wide range of healthcare operations.

Error in Medicine: When there are human errors account into medicine, it largely decreases the reputation and stability of many healthcare organizations. Occasional errors are quite common and that results in an occupational hazard to many people, including patients. Ending up with wrong medication is often a problem with patients who cannot undo the damage caused. This can lead to fatalities like death at times. Big data is planning to put forward its effective platform consisting of research and technology in these areas, thus enhancing the overall process.

Hospital Bills and Expenditures: Huge amount of money is lost while tackling diseases that require the implementation of technology. Even time that we lose during a waiting period is of utmost importance. Hospitals and healthcare institutions can reduce this by executing Big Data’s process of analysis. The term that is popular is the use of predictive analytics. Certain firms even provide online consultations in mobile as well as web portals, providing information about the cost and time one spends at a hospital. This can, in turn, prepare patients beforehand and reduce their precious time in getting adequate attention.

Patient outcomes and Expectations: The particular expectation of any customer on a daily basis is the number of hours he/she is sleeping, taking medicine and other processes in consideration. While a physician can track them largely, but at the same time, there are considerable human errors that make the patient restless. Big data can help in providing wearable track devices which can monitor asthma, blood pressure and even help patients stay independent, thus reducing the unnecessary doctor and pharmacy costs.

High-Risk patients: There are certain patients who need utmost care immediately. Human intervention often fails in identifying the patients and can make the overall situation worse. These patients often use the emergency department often and hence can create a chaos on the hospital staffs and patients. Big data can put predictive analytics and able to reduce the number of Emergency visits to hospitals. Subsequently, it will identify high-risk patients and offer them the centric need and customization they require immediately.

Market research in technology and healthcare are promoting Big Data for a variety of reasons. The coming decade will address if the reasons are worth a catch or not.

A wide view of Top Biotech giants.

Biotechnology companies are thriving all across the globe, they are emerging as current development in managing several biological modifications. Significant capital in biotech comes from pharmaceutical, medically performing devices and certain kind of diagnostics. Consequently, various companies are growing in number and enhancing these techniques throughout the globe. Let us have a look on Top biotechnology companies of the recent era.

top 10 biotech companies blog

Roche: Roche is in news since 1896. It grew simultaneously within the first few years and is one of the top 14 biopharma companies to look for. Additionally, Roche is in the front with cancer research and treatment, along with the creation of medicines to prevent unusual cancerous growth. It is a leader in tissue diagnostic cancer therapies, cites recent biotechnology market research reports. Certain researches are also aiming at ophthalmology and neuroscience. It is currently working from its base in Switzerland.

Merck: Merck & Co. is a worldwide conglomerate producing prescription medicines, vaccines, therapies on animal and human health care. The core functions include medications on diabetes, cancer, hepatitis, and certain metabolic diseases. As global pandemics is on the rise, Merc is managing and making contributions to deadly epidemics like Ebola. Biotechnology market research reports are even making the industries aware of certain diseases, with help of such biotech giants. Furthermore, Merck is on the news for a 43.2 billion dollars in recent market research reports, with asset counting of $98.3 billion. The company is running in New Jersey, since the year 1891.

Johnson & Johnson: The pretty famous company also rules the list as one of the top biotech company. It is serving mainly as a multinational conglomerate with a base of medical devices, pharmaceutical, and consumer packaging products. Alone in the US, it operates with distributing 175 kinds of drugs with brand names like Tylenol, Mortin, and Sudafed. Additionally, it focuses on side segments of biotech areas like neuroscience, oncology, infectious, and immunology. Technology market research reports claim Johnson and Johnson’s popularity is looking for a wide reach beyond certain limits. Its headquarters is in New Brunswick, New Jersey.

Amgen: Amgen is trying to push limit by securing a spot in one of the Top biotechnology company. Market research reports are pretty sure about the company being the sought-out leader in coming years. It is performing researches on new medicines for human therapeutics, including cellular and molecular biology. Additionally, it even markets certain recombining protein therapeutics which can aid in cancer care and inflammatory diseases. The company is promising new elements of kidney diseases, rheumatoid, and serious bone diseases. Technology market research reports are widely promoting the advancements of Amgen, with its headquarters at California.

Consider any medicine which has its roots form biologically modified organisms, it falls to biotechnology. The industry is constantly shaping itself beyond limits to help the world contain biological threats. Ordinarily, these multinational conglomerates are providing enough grasp with help of market research reports ensuring the development processes of tackling deadly diseases are up to the mark.

 

 

Better healthcare facilities but a poor patient experience?

 

 

healthcareThe healthcare industry has progressed a long way to reduce mortality rates and provide innovative solutions to disease diagnostic and treatment-related challenges. However, there continues to be a sense of worry when patients approach the hospital setting. This is irrespective of whether it is a general OPD visit or an admission for surgical procedures. Why does this situation continue to prevail and what can technology do to improve it?

The context of “consumer experience” in the healthcare industry

Experience is everything. You cannot have a brand-new car with multiple new features and a bad road to drive it on. The comparison may not be a direct parallel, but the situation is pretty similar. Technology has indeed powered today’s healthcare facilities with abilities that were only a patient’s dream a few years back. But the road to avail that service is not friction-less yet.

Market research says that the healthcare sector, as an entirety, scores very low on the Net promoter score table, a score that measures the likelihood of a customer to return or recommend a particular company’s service to others. This is definitely not a good sign.

What does it lack? When a customer is taken in for an invasive procedure, he may be comforted by the auto-regulated room temperature and a decreased complexity of medical instruments. But after the whole process, billing and discharge from the hospital is a mess because the patient has an insurance policy that covers his expenses but this could never effectively be communicated to the concerned people.

So, the first point of trouble recognized is the siloed nature of interaction channels.

Next, most doctors, especially the experienced ones, do not agree that a patient must have complete access to their health data. They believe that the patient may make wrongs decisions devoid of their advice.

This creates a high dependency of the patient on the healthcare system even for minor decisions that can be resolved at the point of care.

This hinders the process of a patient learning his own body. Instead, there must be a system where patients can rather communicate with their doctors effectively even from a remote setting. Not only will this help a person in understanding his own body better, it will increase their responsiveness to any change in their health conditions.

Can technology improve patient experience?

The next frontier in health technology is to improve patient experience. The dysfunctional healthcare system can find its ray of hope in the various innovations of the current day that aim at revamping the system to a more integrated model. The approach is to build relations. Transactions will follow.

  • Telehealth
    The trial phase of this technology is nearing an end with most medical institutions adopting it as mainstream. People have adapted to it willingly. So much that there are companies that even provide telemedicine-based genetic counseling from the actionable information acquired through their genetic tests. This is particularly valuable for cancer patients. Individuals usually wait long queues for such sessions. The wait time is now cut-down significantly increasing patient satisfaction.
  • Wearables
    Wearables allow their users to track their vitals. And more, now pregnant mothers can even use wearable to track the vitals of her baby. The technology of wearables is constantly evolving a plethora of its utilities are now being tested. This allows a person to be actively involved in his own care process. He is not dependent on his doctor in all situations.Wearables combined with telehealth services can allow a doctor to keep constant track of his patients and advise them instantly when things are about to take a wrong turn. Health risk mitigation is thus made more effective.
  • Software that can compare the costs of various services
    There are now apps that people can use to compare costs of various insurance policies available for the same coverage amount required. It has been noted that only if a person finds the service worth the money spent will he recommend it to others.When a patient purchases a policy, information can quickly be relayed to his usual clinic. The communication between every person involved in the healthcare network is bettered and each entity is aware of the situation at every instant. This builds an integrated base for the healthcare facilities to function on.

It has thus been established that functioning well with proficient doctors and administrative members isn’t sufficient. There need to be tools that can minimize the troubles a customer faces in the course of approaching and availing these services.

3D Bioprinting –Transforming the Healthcare Industry

Once a dream, 3D bioprinting market is a relatively new domain which is also known as medical 3D-printing. Time, investment and immense research has led it to a dream-turned-reality in the healthcare market. Today, 3D bio-printing is employed in various pharmaceutical and healthcare organizations for particular drugs, increasing the productivity of medical implants while changing the way of medical procedures by surgeons, doctors, and medical practitioners.

What does 3D bio-printer do?

3D bio-printers artificially build live tissues by applying living cells layer-upon-layer coating. This helps support the growth of out-and-out tissues and organs in a combination with biological material like collagen, gelatin, and fibrin.

Technological Evolution

In 3D bio-printing, the biological parts cling together and contain liquid-like characteristics. Dr. Gabor Forgacs happens to be the first person to discover this while experimenting with the bio-printing technique along with Charles Hull in 1996.

Initially, synthetic scaffolds were in use for bio-printing, which then were replaced by 3D printing in the technology market.The technique made it possible to print biological tissues within hardly a few seconds. With this, it is used for several applications such as dental implants, medication, drug testing, cosmetic surgery etc.

A recent market research shows a compound annual growth rate of 26% in the global 3D bio-printing market forecasted to be between 2k16–21. It is projected to reach USD 1,332.6 million by 2021.

Factors Driving Growth in the 3D Bioprinting Market

# The demand increase for 3D-bio-printed organs:

The demand for organ transplantation is growing with day after day. This has made a key factor to drive 3D bio-printing market and hence the increasing incidents of critical organ failure are one of the important reasons for organ transplantation.

Global Market Research Reports suggests, researchers are still working on the 3D -printed tissues for organ development. Whilst 3D-printed organs have not been used in human organ transplant as yet, its high demand is rising rapidly enough to drive remarkable investments in the research of 3D bio-printing.

# Incorporating 3D bioprinting in cosmetic segment:

The skin-care is another domain demanding for 3D bio-printing seeing its usage on a large scale. An automated procedure called bio-fabrication uses 3D printing agents to develop human organs and tissues. This technique is mainly used cosmetic methods like skin grafting and plastic surgery.

# Substituting animal drug testing:

Earlier, the drug discovery process would involve drug testing on animals which often used to be harmful to them. 3D-bio-printed tissues have shown the potential to substitute animals and nowadays, the same is used in pharmaceutical companies for drug testing. The cruelty-free process is not only cost-effective but also increases the productivity of the process of the discovered drug. Hence, many companies are demanding 3D bio-printing in order to stop the use of animals during drug discovery.

Since the healthcare industry is at the crossroads of transformation,  3D printing solutions are helping to strengthen the segments. Further, they are enhancing the potential of surgical training and its future for patients. Having seen the pace of this segment growth, 3D bio-printing is a revolution which is assuredly worthwhile.

 

 

 

Global Digital Pathology Market Industry Insights

The worldwide healthcare and biological industry is now noticing a stable growth, witnessing nothing less than what can be termed to as a ‘biological revolution’. Espousal of advanced technology and progression of the existing ones are rising at an alarming swiftness. Research on digital pathology market has revealed that the purchaser’s expectations are rapidly changing and therefore, better regulation towards precise diagnosis, trends favoring electronic medical records, growing customized medication and most importantly patient’s safety. Digital pathology involves the configuration of image based information through the use of PC (computer) technology.

According to  market research, the pathology industry has for the greatest time relied on glass slides through which comprehensive examination of cells and tissues were performed. With the arrival of digital pathology the glass slides are now converted into digital slides which are then inspected, analyzed and examined by means of highly specialized software, which advertently allows the creation, interpretation and sharing of data more efficiently. In the diagnostics market, pathologies play a vital role wherein digital pathology guarantees accurate diagnosis through the procedure of digitization of information and the subsequent pathology information. Plenty of vendors now provide scanning products that allow the digitization of the entire glass slides which are also called as digital slides, virtual slides, and whole slide images.

Digital Pathology market is gaining momentum:

Product and applications are particularly two main categories of the digital pathology market. The product sector includes scanners, storage, analytics that includes image analysis, visualization software, platforms, and digital pathology information systems; and communication services that include web and cloud based services.  The application category is further divided on the basis of animal and human pathology. The end users of the pathology market can be furthermore segregated into pharmaceutical research, educational institutes, and clinical firms. The pharmaceutical research sector provides the largest revenue and is estimated to dominate the pathology market worldwide, at a very high CAGR of 16.9% approximately. This increase in the revenue can be attributed to the surge in use of DPS for drug discovery and development, as per the healthcare industry report.  Some of the key elements that are driving

The market of digital pathology is driving due some key elements such as reduced laboratory expenses and improvement in operational efficiency. It is also gaining momentum globally given its time and price efficiency matrices, and is already cataloging astounding growth rates. Through proper government regulations in place and plod refinement of the technology, this market has the opportunity to rise by leaps and bounds in the upcoming years.

Global Dermatology sector to witness extensive growth in following years

dermatology-marketThe international dermatology market is expected to grow speedily and extensively in the future ten years as per industry experts.

More businesses are entering into the dermatology sector by extending the indications of existing products into dermatology. Research reports have revealed that big pharmaceutical companies that have retained their dermatology business are treating the same as a separate business or company.

The dermatology sector contains prescription drugs used for management of skin conditions/ diseases. As per the Healthcare Market Report, skin conditions are among the most common health issues among most regional populations. This problem is collectively greater in numbers than that of hypertension, obesity and cancer.

The Skin Disease Treatment Market

The market for skin disease care had globally reached up to $17.1 billion in 2015 and is expected to reach up to $20.4 in 2020, showcasing 3.6% CAGR in the next five years. Revenue wise, the international Dermatology market is estimated to increase from $31.6 billion in 2016 to $83.2 billion in 2026. The largest Dermatology Drugs Markets in 2016 include areas such as acne which is worth $3.89 billion, skin infections worth $6.59 billion and skin cancer worth $5.60 billion.

The U.S market, which is the biggest market for skin disease had reached $7.5 billion in 2015 and is expected to rise to $8.6 billion in 2020, displaying a CAGR of 2.6%.

BRIC region which includes Brazil, Russia, India and China, are the speediest growing markets regionally displaying a growth rate of 6% and are expected to grow up to $4.6 billion by 2020.

Reasons influencing and restricting growth

The above growth is attributed to the entrance of new drugs in the emerging markets, robust sales in the western markets and the rising prevalence of diseases of skin.

Other factors such as reducing cost measures in countries like the UK and other European regions are expected to threaten the revenues of this sector. As well as factor like generic version in emerging markets, especially in China and India.

Emerging markets condition

The emerging markets such as the BRIC have a lot of untapped potential. Experts agree that as these countries had increasingly spent significant resources through different healthcare spectrum, the health care expenditure per capita had exponentially increased in the above mentioned countries from 2006 to 2012.

According to several Market Research Reports, many industry experts comment that in future, drug sectors regarding skin cancer, skin infections and acnes will remain leading and contribute significantly to the global dermatology market in the coming ten years.