Amid rising global trade tensions and sluggish global economic outlook for 2020, the global healthcare market is expected to cross the $2 trillion mark in 2020. Healthcare will be among the top two priorities for voters in the 2020 presidential election in the US. In the European region, looming BREXIT indecision is likely to have a strong impact on Europe's biggest digital health market (UK). Globally, 2020 will be a reality check for long-pending national healthcare policies and regulatory reforms that must re-invigorate future strategies. The new vision for healthcare for 2020 and beyond will not just focus on access, quality, and affordability but also on predictive, preventive, and outcome-based care models promoting social and financial inclusion.
Social Determinants of Health (SDOH) will emerge has a big theme across progressive health systems to proactively engage the right patients and improve health outcomes to help healthcare organizations meet quality standards. In 2020, consumer-driven models of healthcare will gain more market traction, as they stand to better bridge the gap of what consumers want and what healthcare can deliver. Continued steps will be taken by retail (Walmart, Costco, Amazon, Ali Health), and consumer tech (Google, Apple, Microsoft, and so on) companies globally; to make further headway (intrude) into vetted healthcare space. In 2020, the convergence of Artificial Intelligence (AI), Blockchain, and the Internet of Things (IoT) will further catalyze the space of innovation adoption and related applications in the healthcare realm. For example, while Blockchain will improve data liquidity to empower AI and analytics vendors/applications to digest a large amount of data, AI can manage Blockchain systems more efficiently than humans.
Every year, the team of futurists, analysts, and consultants at Frost & Sullivan's Transformational Healthcare Group come together to render a comprehensive analysis to predict the themes, technologies, and global forces that will define the next 12 to 18 months (future) for the healthcare industry.
As a part of this research deliverable, Frost & Sullivan provides bold perspectives and predictions for the global healthcare market in 2020. The sectors covered include pharmaceuticals and biotech, in-vitro diagnostics, medical technologies, medical imaging, and healthcare IT. The analysis captures sectoral and regional trends and provides predictions for the upcoming year. The study provides guidance on where to find the greatest opportunities for expansion.
Predictions for the global healthcare market in 2020 include:
- SDOH analytics platform gains traction in 2020
- AI both develops more use cases and faces more ethical challenges, beginning with radiology
- Annuity-based model catapults gene therapy commercialization
- Continued VC funding mega-rounds make 2020 a banner year for Digital Health Unicorn’s IPO exits
- Interoperability by pure-play solution vendors gain ground against standalone systems
- Telehealth gains mainstream adoption in the overall mix of healthcare services
- Precision medicine-led approaches pave the way for next-gen health data analytics solutions
- 2020 is a year of ‘Retailization’ for the healthcare industry, promoting ‘Comparison Shopping’ consumer mindset
- What are the top predictions for healthcare markets in 2020?
- What are the market revenues and growth rates expected for the global healthcare market?
- What are the key projections and growth opportunities for major healthcare market segments?
- What are the major macro and micro-regional/country-level trends specific to the healthcare market?
- What are the key technologies and growth opportunities to watch out for in 2020?
- What are the key companies to watch in 2020 in major healthcare market segments?