Tag Archives: healthcare

AI and analytics partnership to accelerate healthcare innovation

SAS and the Maxwell Centre at the University of Cambridge has announced a partnership aimed at accelerating healthcare innovation through enhanced access to advanced analytics. It will embed SAS experts and SAS® Viya® data and AI platform capabilities into the University environment, enabling targeted collaboration with leading researchers and early-stage entrepreneurs, supporting them to “find the quickest way from a billion points of data to a point of view”. 

The unique SAS Advanced Analytics Hub will be established at the Maxwell Centre on the Cambridge West campus. It will have capacity to concurrently recruit and support several high-quality, high-impact academic research projects and promising early-stage startups in the health-tech space, providing their innovative ideas with extra momentum. 

The partners have already demonstrated the effectiveness of the collaboration in addressing an important healthcare challenge. A University of Cambridge-led project on kidney transplants, PITHIA, developed an AI-based decision support approach using SAS’s dynamic analytics platform. 

It is being used to automate the process of scoring biopsies for kidneys to better identify those organs that can be used for transplantation. The aim is to increase the number of transplants and improve the function of those kidneys used. This has the potential to save lives and transform the quality of life for more than 100 people each year who would otherwise require dialysis, as well as saving the NHS millions of pounds annually.

This collaboration was initiated and led by Dr Alex Samoshkin (Deputy Head, Office for Translational Research, School of Clinical Medicine) who facilitates interactions between clinicians and researchers from the Biomedical Campus with researchers in science and technology working with the Maxwell Centre. 

Dr Samoshkin said: “In 2018 I supported the PITHIA project led by Prof. Gavin Pettigrew, looking to optimise qualification of kidneys for transplantation, for which SAS turned out to be the perfect industrial partner. We demonstrated that synergy between the University and SAS was instrumental in accelerating the process of transitioning from ideas to the clinic.” 

This initial success paved the way for a more ambitious partnership between Cambridge and SAS. The Cambridge team visited the SAS headquarters at Cary, NC, USA in June 2023 to discuss collaboration opportunities with the SAS senior leadership team including Dr Jim Goodnight, co-founder and CEO. A year later, the vision has turned into reality as the SAS Advanced Analytics Hub at the Maxwell Centre begins building a pipeline of new collaborative projects with potential to improve health outcomes for millions of patients around the world. 

The Maxwell Centre Director, Dr Aga Iwasiewicz-Wabnig, commented: “We are excited to interface Cambridge’s world-class research and innovation with SAS’ leading expertise in advanced analytics and AI forming a partnership for societal good. We are starting with a strong focus on healthcare and will build momentum to support future interdisciplinary projects on sustainability and social equality.”

Roderick Crawford, Senior Vice President, SAS Northern Europe, commented: “There are many examples we’re seeing of how AI can have a truly transformational effect, not just on businesses, but in areas such as healthcare and society as a whole. We’re delighted to deepen our relationship with the University of Cambridge through this partnership, and there is enormous potential when you consider the additional expertise our partners, such as Microsoft, and customers, such as AstraZeneca, can provide.”

Health Tech Solutions Group revolutionises access to healthcare services across the UK

Health Tech Solutions Group (HTS Group), a pioneering healthcare provider, announces its official launch in the UK. The company offers complementary healthcare solutions, including mobile health services, telemedicine, and personalised patient care outside traditional hospital settings.  With three existing locations in Essex, Lancashire and London, HTS Group are raising £3 million investment to activate a further seven locations in the UK and Ireland by the end of 2025 with the capacity to service 100,000 patients per year.

Across three core services and committed to a 2-hour turnaround time, HTS Group will provide door-to-door transportation, convenient, cost-effective and secure mobility transportation services for the disabled, elderly, vulnerable people, and non-emergency patients; at-home healthcare services, a GP service in the home that includes pathology and accessible remote patient monitoring that includes smartwatch and AI/ML-enabled platforms, to increase patient engagement and care coordination and improve patient outcomes, personalise care, and reduce healthcare costs.

With a mission to bring primary and planned healthcare services directly to individuals’ doorsteps, HTS Group aims to bridge critical gaps in the healthcare industry, offering unique solutions tailored to the needs of the UK market. This unique healthcare model provides technology and services with end-to-end primary healthcare, mobility and remote patient monitoring services without owning a hospital, clinic, or heavy assets. This approach not only meets the needs of the UK market but aligns with the NHS’s NET ZERO mission of sustainable and zero-carbon healthcare services.

Established in 2010 in India by CEO Samit Biswas, an industry veteran with over twenty-eight years of healthcare expertise, HTS Group identifies and addresses critical challenges within healthcare logistics, medical transport, diagnostics, and healthcare management.

Founder and Chairperson Samit Biswas recognised the need for streamlined and efficient medical transport while observing the critical gaps in patient care during his extensive tenure working with major hospitals in India & since 2012 in the UK.

HTS Group’s commitment to providing 24/7 accessibility to healthcare services is underscored by its successful track record in Kolkata, where it has established a highly acclaimed ambulance service and training program. Additionally, the company has emerged as a leader in offering air and road ambulance services within North-East India, addressing a previously unmet need in the region.

“We aim to redefine healthcare accessibility by leveraging strategic partnerships and cutting-edge technology,” stated Founder Samit Biswas. “We are dedicated to ensuring that individuals across the UK have timely access to high-quality healthcare services, regardless of location or circumstances.”

“These door-to-door transportation services redefine mobility solutions, providing a convenient, cost-effective, and secure means for people who need transport due to a disability or assisting older and vulnerable people who don’t drive and non-emergency patients. It’s more than just transportation; it’s about ensuring everyone has equal access to quality healthcare and promptly.”

Services offered to patients include telephone consultation, doorstep telemedicine GP consultation, and Blood test services at the doorstep, starting from £99 or a video consultation starting at £49.

A monthly subscription-based (£19.99 per month) wellness and care model will allow patients to access the full range of healthcare management services—from free medical devices to half-yearly medical check-ups, discounts on diagnostic tests and healthcare insurance, and remote monitoring.

For more information about HTS Group and its suite of innovative healthcare solutions, please visit https://hts.group

Former rugby stars prove a big hit at Howorth Air Technology

Rugby league players are used to making big hits on the pitch – now former stars of the sport are proving a big hit off the field, helping Howorth Air Technology stay ahead of the game on employee welfare.

Howorth’s partnership with the charity Rugby League Cares sees ex-players draw on their personal experiences and specialist training to deliver mental fitness and wellbeing workshops to the company’s employees.

The latest coaching session at Howorth under the charity’s Offload programme was delivered by Bob Beswick, whose league career saw him make 433 senior appearances for clubs including Wigan, Widnes and Leigh, as well as 25 international caps for Ireland.

Howorth director John Hale said teaming up with Rugby League Cares has proved to be a great match.

“The positive impact of the Offload sessions delivered to our teams flows through to productivity and the bottom line. The partnership with Rugby League Cares is one of the many building blocks that has enabled our business growth and employee engagement over recent years,” he said.

The partnership also sees Howorth staff hold events at its sites in Bolton and Salford to raise funds for the charity.

Rugby League Cares, founded 10 years ago, is an independent charity which supports players at the end of their careers by providing education and training grants to equip them with the skills and qualifications they need for the next stage of their lives. It also provides practical and financial support to current and former players who have poor health or are enduring hardship.

In the communities where rugby league is played, the Offload programme has helped tens of thousands of people in businesses and organisations to better manage their own mental wellbeing and support those around them.

Many Howorth staff are avid RL fans and the company has won several awards for its commitment to the development, wellbeing and engagement of its employees.

John said: “We have a proud culture of valuing and empowering our people, providing a safe and enjoyable place to work and enabling them to receive the technical and wellbeing support they need to develop in their jobs and thrive in their lives as a whole.

“We know from the positive feedback we’ve received that the Offload sessions are of real tangible benefit to the individuals taking part, their family circles and friendships.

“People feel that they help them to build resilience and coping strategies. They’ve been motivated and empowered to look after themselves from a mental fitness and wellbeing perspective, and that in turn has had a beneficial impact on the business and employee engagement.

“We have six Offload workshops each year, which are well-attended, and we provide monthly drop-in sessions as part of the programme too. We also help the charity by raising funds, and we open our doors to RL players who are looking to transition from their career as a professional athlete, to help them to understand business and the 9-5 life.”

Howorth, which has its headquarters in Farnworth, Bolton, and a facility at Raven Locks in Little Hulton, Salford, designs, manufactures and assembles ultra clean air equipment for use in operating theatres, and for the pharma, biotechnology and life science industries. The company, which turns over more than £20m a year, employs over 130 staff across its operations in the UK and the United States.

John was among the guests at a recent event at Speaker’s House in Westminster. Sir Lindsay Hoyle, the Speaker of the House of Commons and president of the Rugby Football League, hosted the event, which was held to showcase the work of Rugby League Cares and recognise the support of its partners.

Chris Rostron, chief executive of Rugby League Cares, said: “We were delighted that Howorth were able to join us at Speaker’s House as we celebrated both the important work the charity does in rugby league communities and the vision we share with our partners for enhancing the mental fitness of those closest to us.

“Howorth’s progressive and proactive approach to mental wellbeing is reflected in the company’s continued growth, and everyone at RL Cares is proud of the part we are playing in that success. Howorth’s managing director Jim Liptrot and his team are passionate advocates for our Offload programme and we would like to thank them for championing our work so enthusiastically within the corridors of power at Westminster.”

Human Data Sciences founder nominated for prestigious recognition award

HUMAN Data Sciences founder Professor Craig Currie has been shortlisted for the prestigious Data Saves Lives national award.

Sponsored by Health Data Research UK (HDRUK), the award recognises individuals for leveraging data to improve patient care, advance medical knowledge, and enhance health outcomes, highlighting the profound potential of data in saving and enhancing lives.

The Data Saves Lives award is part of Cambridge Spark’s Digital & AI Excellence Awards which celebrates critical digital transformation skills in the era of AI, and recognises the pioneers who have harnessed the power of digital and AI as catalysts for change. The winners recognised at a ceremony later this month (March).

The nomination is due to his innovative approach to healthcare analytics and in recognition of the significant impact of the groundbreaking healthcare analytical platform, Livingstone®.

Livingstone®, developed by Human Data Sciences, is a cutting-edge platform designed to empower users of real-world healthcare research by delivering instant analysis that would have otherwise taken months, or years, to deliver.

The platform utilises data science and artificial intelligence methods to analyse vast amounts of healthcare data, which then enables practitioners to make informed decisions, predict health trends, and provide proactive care.

This health analytics engine, being the first of its kind, has been instrumental in identifying at-risk populations, identifying optimised treatments, and ultimately, enhancing the quality of life and life expectancy for countless individuals.

Commenting on the recognition, Rhiannon Thomason, CEO of Human Data Sciences, said: “The nomination for the ‘Data Saves Lives’ award is a testament to the hard work, dedication, and innovative spirit of our talented team. Livingstone was born out of a commitment to revolutionise healthcare outcomes through the power of data. Being recognised on this platform underscores the impact our work has had and will continue to have in saving lives, and improving health outcomes.”

Professor Currie, Chief Scientific Officer of Human Data Sciences, added: “We are deeply committed to advancing healthcare through innovation. This nomination highlights the potential of data-driven solutions in addressing some of the most pressing challenges in healthcare today.

“Looking forward, Human Data Sciences remains dedicated to its mission of transforming healthcare through data science and technology. We look forward to sharing our achievements and future plans with peers, industry leaders, and the wider community at the award ceremony.”

Howorth Air Tech cleans up as awards flow in

A clean air technology business is celebrating another accolade after scooping an award for best company culture.

Howorth Air Technology’s latest honour was awarded by business coaching and mentoring organisation ActionCOACH Bolton.

Jim Liptrot, managing director of Howorth, received the accolade from ActionCOACH Bolton managing director Paul Limb.

It is the fourth award for the Howorth business in less than a year.

Last May, the company won the Best for Employee Engagement and Most Improved SME categories at the Greater Manchester Good Employment Awards, in recognition of its workplace culture that prioritises the growth and development of its employees.

In September, Howorth was named company of the year at the Bolton News Business Awards.

In addition, Jim was named 2023 Board Member of the Year by The Alternative Board Manchester.

The Alternative Board is a franchise network which provides peer advisory and coaching to business owners and leaders.

Jim’s award was based on his achievements during the year, the help he gave to fellow board members, and the quality of his contribution and advice. It was the second time he has won the honour since becoming a member in 2018.

Howorth, which has its headquarters in Farnworth, Bolton, and a facility at Raven Locks in Little Hulton, Salford, designs, manufactures and assembles ultra clean air equipment for use in operating theatres, and for the pharma, biotechnology and life science industries.

The company designs, assembles and supplies containment equipment for the pharma industry, such as isolators and downflow booths, to create pure air working environments for the safe handling and processing of active pharmaceutical ingredients.

Howorth turns over more than £20m a year and employs more than 130 staff across its operations in the UK and the United States.

Paul Limb said: “Our annual client awards celebrate and reward their efforts and achievements across a range of categories, recognising success in all of the building blocks which make a great business even better.

“I cannot think of a more worthy winner of our Best Company Culture Award than Howorth Air Tech. Its core values of integrity, collaboration and excellence are exhibited in the behaviours of its employees across the business and make up what is called ‘The Howorth Way’.

“It has shown that people are at the very centre of a company’s performance and having a fantastic culture can lead to fantastic results.”

Paul Winterbottom, owner of The Alternative Board Manchester, said: “Jim is passionate about Howorth’s purpose of changing lives for the better, which not only relates to the ultimate beneficiaries of the medical and pharma products, but also the whole team at the company.

“He is passionate about people development and provides wise counsel to the other Board members about ‘all things people’. His recognition is really well deserved, he’s a fantastic member.”

Jim said: “Winning these awards is a massive recognition of the success that can be achieved by creating, developing and embedding a culture of good employment right across the company.

“Everyone at Howorth knows how important their role is, how much their contribution is valued, and how important everyone who walks through the doors is.

“Howorth has a phenomenal purpose and a team of great people who are all aligned behind the values of ‘The Howorth Way’.”

Decentralized Clinical Trials (DCTs) Market valued at US$ 8.8 billion in 2021 and is expected to grow at a CAGR of 10% to reach ~US$ 14.2 billion by 2026

Decentralized clinical trials (DCT) employ a method of conducting clinical trials where parts or all of the trial happen outside a traditional physical clinic or trial site. Telemedicine, local/mobile healthcare providers, and digital/mobile technology are used to perform clinical trial studies.

The Global Decentralized Clinical Trials (DCTs) Market valued at US$ 8.8 billion (2021) is set to witness a healthy growth rate of 10% to reach ~US$ 14.2 billion by 2026.

Some of the main factors propelling the global decentralized clinical trials (DCTs) market include the advantages of DCTs, Covid-19, growing adoption by pharmaceutical, medical device companies, and research organizations (CROs), formation of industry stakeholder groups like the Decentralized Trials & Research Alliance (DTRA) to facilitate collaboration and research, favourable funding & regulatory outlook, and surge in M&A activities. However, concerns around patient data privacy are likely to hamper the growth of the decentralized clinical trials (DCTs) market.

Covid-19 Spurs Adoption of Decentralized Clinical Trials (DCTs) Market

Internationally, Covid-19 had a negative influence on health care, and the clinical industry was not an exception. The challenges of doing clinical research during the Covid-19 pandemic resulted to the termination of more than 2000 trials that were registered on ClinicalTrials.gov. Covid-19 harmfully impacted participant recruitment, retention, the safety of trial subjects, protocol compliance, and highlighted the need for safe, reliable, and secure remote capabilities, which in turn led to a renewed focus on digitization.

Decentralized clinical trials (DCT) have become a vital tool in the wake of the Covid-19 pandemic, providing for the remote recruitment of patients, physician visits/patient consent can take place via telemedicine, and mobile technology can be used for remote data collection.

“The Covid-19 pandemic compelled several sponsors to incorporate virtual elements such as telemedicine, remote electronic medical record access for monitors, and virtual monitoring of data & study documentation into their trials.” – Senior Director, Leading DCT Solution Provider, United States

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Regulatory Hurdles Likely to Hamper Adoption of Decentralized Clinical Trials (DCTs) Market

The digital tools utilized for decentralized trials have not kept up with the market’s clinical trial regulations.  For instance, for wearable devices, there is a need to create an ecosystem where data from different devices and technologies are standardized, validated, and exchanged without data integrity issues.

Regulatory agencies follow a variety of approaches to DCTs, but currently, there is no international standard. The DCT regulatory landscape is continuously changing, and hence clinical-trial sponsors need to align their studies with the most up-to-date guidelines. For multi-regional clinical trials, there is a need to recognize the increased regulations and limited possibilities for variation in research methods. A customized strategy and consideration for complexity in the clinical trial design are required for all global clinical trials that implement decentralization.

Growing Adoption and Financial Backing of DCTs by Pharmaceutical, Medical Device Companies, and Contract Research Organizations (CROs)

Due to Covid-19, pharmaceutical, medical device companies and contract research organizations (CROs) have all increased their usage of the DCT model in recent years:

  • To reduce contact, improve the patient experience and keep studies on track during the Covid-19 pandemic
  • Due to the growing trend toward more patient-centric trials
  • The formation of industry stakeholder groups to facilitate collaboration and research
  • The possibility of reducing trial time and costs. Cost savings arising from diverse sources, including fewer sites (i.e., less investigator fees and costs for patient visits, and other site costs), less patient travel costs, and less site monitoring and management fees

Additionally, funding from large pharmaceutical companies to specialists in virtual clinical trials is probably going to expand the market.

For instance,

  • In August 2020, Science 37, an American clinical research company that specializes in decentralized clinical trials, secured $40 million in funding from Novartis, Amgen, Sanofi, PPD, and Google’s VC arm.

The decentralized clinical trials (DCTs) market is a booming market that is expected to gain further momentum in the coming years due to its ability to harness technological developments to improve the efficiency, participant experience, and generalizability of clinical studies.

Competitive Landscape Analysis of Decentralized Clinical Trials (DCTs) Market

The global decentralized clinical trials (DCTs) market is marked by the presence of players such as ICON, Parexel, IQVIA, Covance, Thermo Fisher, LEO Innovation Lab, Huma, Medidata (part of Dassault), Oracle, CRF Health, Medable, Signant Health, and Clinical Ink, among others.

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Dental Consumables Market is expected to grow at a CAGR of ~6% to reach ~25 billion by 2026

Dental consumables are products that dental professionals or dentists use on patients to treat and/or perform procedures associated with preventive, restorative, diagnostic, and emergency oral health issues. Dental implants, crowns, bridges, dental biomaterial, orthodontics, endodontics, and periodontics are the main components of dental consumables.

The Dental Consumables Market is expected to grow at a rate of ~6% to reach ~25 billion by 2026. The global dental consumables market is primarily driven by factors such as the increasing geriatric population, the rising demand for cosmetic dentistry, the growth of dental tourism in countries, and the rising awareness of the value of oral health.

The Advent of CAD/CAM Technology in Cosmetic Dentistry Drives the Dental Consumables Market

A relatively new technology called dental CAD/CAM can improve the patient experience during dental treatment. Software used in CAD/CAM dentistry enables dentists to do complex restorations more quickly, effectively, and sometimes even more accurately. Both dental practices and laboratories use CAD/CAM technology to construct restorations like crowns, inlays, onlays, veneers, bridges, dentures, and implant-supported restorations from high-strength ceramic.

The widespread use of dental consumables in the treatment of dental impairments, gingival tissue difficulties, and tooth restoration is anticipated to further boost market growth.

For Instance,

  • In December 2021, Dentsply Sirona entered into a partnership with 3Shape, to enhance the technique of capturing dental impressions by integrating 3Shape’s software
  • In February 2021, Align Technology, Inc. announced the launch of the iTero Element® Plus Series, intending to expand the company’s portfolio of iTero Element scanners and imaging systems to include new solutions that serve a broader range of the dental market

Growing Opportunities in Dental Tourism Fuels the Dental Consumables Market

Dental tourism has risen in popularity alongside the medical tourism industry as more patients travel overseas for dental treatment. The high cost of dental care services, lack of insurance coverage, and dissatisfaction with available services in home countries have motivated people to seek affordable, speedy, and better quality dental care in foreign countries. The dental tourism market has seen exponential growth in recent years, with countries like Turkey, Mexico, Hungary, Poland, and India emerging as destinations.

“The rapid development of digital dentistry technologies over the past several decades has enabled clinicians to improve patient care by significantly reducing the time necessary for the restorative phase of treatment. Advancements in intra-oral scanning and computer-aided design and manufacturing (CAD/CAM) will further boost the market in the coming years.” – President, Dental Consumables Company, United States

Explore Premium Report on Dental Consumables Market @ https://meditechinsights.com/dental-consumables-market/

Key Challenges/ Constraints: Dental Consumables Market

Some of the main factors limiting the growth of the dental consumables market is the high costs associated with dental procedures, the limited reimbursement policies for dental implants and periodontal surgeries, and the high risk and complications associated with dental bridges and orthodontic treatments.

Companies Adopting Inorganic Growth Strategies to Increase their Market Share

Players operating in the dental consumables market are accepting organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to garner market share.

For instance,

  • In February 2022, Young Innovation announced the acquisition of Medical Purchasing Solutions (MPS), which is a leading supplier of pharmaceuticals and other surgical supplies that meet the needs of the growing oral pain management, oral surgery, and dental implant markets.

The dental consumables market is a growing market that is expected to gain further momentum in the coming years due to technological advancements, new product launches, increasing investments from private equity, capital ventures, and aggressive organic and inorganic growth strategies followed by the players.

Competitive Landscape Analysis of Dental Consumables Market

Some of the key players operating in the global dental consumables market include Straumann Holding AG, Dentsply Sirona Inc., 3M Company, Zimmer Biomet Holdings Inc., Henry Schein Inc., and Young Innovations Inc., among others.

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About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

Contact:

Ruta Halde

Associate, Medi-Tech Insights

+32 498 86 80 79

info@meditechinsights.com

Digital Behavioral/Mental Health Market is projected to grow at a CAGR of 25% by 2026

In recent years, the healthcare industry has observed the foray of several providers that offer software for behavioral and mental health practices: EHR, teletherapy, scheduling, client engagement, billing, and digital therapeutics to prevent, manage and treat medical disorders.

The Global Digital Behavioral/Mental Health Market is set to witness an exponential growth rate of 25% in the next 5 years. Some of the key factors influencing the global digital behavioral/mental health market include Covid-19, the rising burden of mental disorders worldwide, the penetration of personal digital devices, a favorable funding environment, and growing healthcare IT infrastructure in developed and developing. However, concerns related to patient privacy and the shortage of HCIT professionals are likely to hamper the growth of the market.

Demand for Digital Behavioral/Mental Health Market Solutions Surge Amid Covid-19

With lockdowns implemented, social distancing mandated, and widespread apprehension; as a result, Covid-19 dramatically increased the burden of managed healthcare, particularly for the treatment of neurological and psychiatric diseases.

The widespread use of personal digital devices like smartphones, fitness trackers, tablets, and the launch of digital solutions ensured that the digital mental health tools were accessed more frequently and by a wider demographic of patients. Benefits such as therapeutic approaches to support positive behavioral change on a large scale, anywhere, anytime accessibility, on-demand help without waiting lines, convenience, and ease of use were the key factors that fueled its demand.

Digital Behavioral/Mental Health Tools for Children and Teens Set to Open New Growth Avenues

The mental well-being of children and teenagers has been an area of concern given there are few pediatric mental health specialists in both developed and developing economies Long wait times for care and an increasing number of children being sent to the emergency room during mental health crisis situations has been a long-standing issue. Several digital health companies have entered the market to address these worries.

For instance,

  • In March 2022, Brightline, a leader in virtual behavioral health care for children, adolescents, and families, secured a $105M Series C funding. Brightline offers a digital on-demand platform, Connect, along with its coaching programs and clinical services including behavioral therapy, evaluation, medication support, and speech therapy

“A limited number of paediatric mental health specialists has been a persistent issue in the United States. Virtual health care exploded during the Covid-19 pandemic and this further exacerbated the mental health crisis situation among the children and youth. As a result, several companies are now targeting the behavioral health needs of children and teenagers.”– Senior Director, Virtual Behavioral Health Care Provider, United States

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Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in Digital Behavioral/Mental Health Market

The global digital behavioral/mental health market is a developing but competitive market marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and acquisitions to garner market share.

For instance,

  • In April 2022, Talkspace, the leading provider of virtual behavioral health services, launched new product suite – Talkspace Self-Guided, a suite of offerings for employers designed to help executives, managers, and teams prioritize and build emotional intelligence (EQ) and mental wellness in and out of the workplace
  • In Jan 2022, CloudMD Software & Services Inc. acquired MindBeacon Holdings Inc., one of North America’s leading providers of digital mental health care.

The digital behavioral/mental health market is a booming market that is anticipated to gain further momentum in the coming years due to the growing occurrence & awareness levels of mental health disorders, conducive funding environment, improving healthcare IT infrastructure, and aggressive organic and inorganic growth strategies followed by players.

Competitive Landscape Analysis of Digital Behavioral/Mental Health Market

The global digital behavioral/mental health market is marked by the presence of key players such as Akili, Pear Therapeutics, Advanced Data Systems, AdvancedMD, Credible, Lyra Health, Spring Health, Brightline, Little Otter, among others.

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About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

 

Women’s Health Market was valued at ~$38 billion in 2021 and is likely to raise at a CAGR of ~4.5% to cross $47 billion by 2026

Women’s Health is a branch of medicine that focuses on the prevention and diagnosis of diseases that have an impact on a woman’s physical and emotional well-being. It includes a wide range of treatments, drugs, and surgical products for diseases related to women.

The Women’s Health Market was valued at ~$38 billion in 2021 and is expected to grow at a CAGR of over ~4.5% to cross $47 billion by 2026. This growth will be fueled by the rising prevalence of women-centric diseases (such as endometriosis, osteoporosis, breast cancer, menopause), the introduction of innovative new products for women’s health, government initiatives to curb population growth, and growing demand for contraceptives to avoid unwanted pregnancies.

Emerging Opportunities in Women’s Health Market

One of the main factors influencing the women’s health market is the increased incidence of infectious and chronic diseases among a significant portion of the female population. Recent advances in genomics, tissue engineering, artificial intelligence, and cell and gene therapy have synergized a new wave of healthcare innovations that may be used to develop products and treatments specific to the diseases that affect women.

For example, researchers are studying transcriptomics (the study of RNA molecules in a cell) for treating elusive conditions such as preeclampsia or preterm birth. Another area of research that can assist researchers in achieving the potential of personalized medicine is genomics. There has been extraordinary growth in terms of technology from predictive AI solutions to modeling unique DNA profiles. An environment that is favorable to research activities is anticipated to fuel more growth opportunities in this market.

“Women’s health is not a niche market; it includes much more than just maternal or reproductive care. Indeed, women’s healthcare presents enormous opportunities for value creation and for improving the lives and livelihoods of women, with positive effects that redound across society.”– Executive Vice President, Global Operations and Supply Chain, Women’s Health Company, United States

Key Challenges/ Constraints: Women’s Health Market

The high cost associated with clinical care in some countries and side effects associated with the usage of few women’s health drugs (such as night sweats, headache, nausea, and difficulty sleeping) is likely to restrain the growth of the women’s health market.

North America: The Largest Women’s Health Market

North America has the major women’s health market, followed by Europe and APAC. The large share of North America can be attributed to the strong economies of the US and Canada, established reimbursement policies, early approval & commercialization of products, and the presence of key market players in this region. APAC holds a minor share in the global market.

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Key Market Trends: Women’s Health Market

The women’s health market is a quite stable but competitive market noticeable by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as collaborations and acquisitions to garner market share.

For instance,

  • In March 2022, Carlyle Group Inc. and PAI Partners announced the acquisitions of women’s health business Theramex from private equity firm CVC Capital Partners.
  • In November 2021, Organon announced the acquisition of Forendo Pharma, a clinical-stage drug development company focused on novel treatments for women’s health.

During the forecast period, inorganic developments like acquisitions and collaborations are anticipated to drive the women’s health market.

The growth prospects of the market look promising given strategic collaborations & acquisitions, favorable regulatory landscape, and rise in investments from private equity, venture capitalists, and government globally, new product launches, and advances in R&D to build a robust product pipeline by players.

Competitive Landscape Analysis of Women’s Health Market

Some of the key players operating in the global women’s health market are AbbVie Inc, Eli Lilly, Pfizer Inc., Merck & Co., Ferring Pharmaceuticals, LUPIN, Bayer AG, AstraZeneca, Novartis AG, Mithra Pharmaceuticals, Allergan, among others.

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About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

 

Hospital Capacity Management Solutions Market Booming With Cerner, McKesson, HealthStream, Stanley Healthcare, Infosys

Hospital capacity management includes software and services provided by players that empower hospital executives, administrators and clinical staff with real-time hospital capacity planning and asset tracking.

The Global Hospital Capacity Management Solutions Market is set to witness a healthy growth rate of 18% in the next 5 years. Some of the main factors propelling the global hospital capacity management solutions market include the rising burden of diseases, a corresponding rise in patient volumes, the need for better capacity management in hospitals, increasing adoption fueled by benefits offered by hospital capacity management solutions, the introduction of IoT-enabled devices and technologically advanced hospital capacity management solutions, Covid-19, and need to reduce escalating healthcare costs. However, concerns related to data security and privacy is likely to hamper the growth of the hospital capacity management solutions market.

Covid-19 Triggers Increase in Demand for Hospital Capacity Management Solutions Market

Globally, the Covid-19 pandemic had an adverse impact on health services and requires major and quick changes in patient care. A major capacity planning challenge was caring for patients with Covid-19 alongside patients with other conditions. The global medical community faced an unparalleled strain on its facilities and its resources in the wake of overcrowded hospitals, lack of oxygen cylinders, dearth of hospital beds, difficulty maintaining adequate staffing and supporting staff, extended waits for test results, shortages of critical supplies, materials, and logistic support and an expanding black market for drugs. The situation lead to increase in costs for hospitals, decreased revenues and posed as a threat to their financial viability. To address these concerns, hospitals involved hospital capacity management solutions that assisted hospitals to better monitor patient services and make optimum use of its resources to generate more revenue.

IoT-based Healthcare Capacity Management Solutions Opens New Growth Prospects

Hospitals are increasingly relying on data about equipment assets, bed availability, workflows, patient/staff interactions, and safety compliance for making decisions about long-term planning, facility performance, and patient care & satisfaction. Emergence of various IoT-enabled devices and real-time location systems (RTLS) has automated data collection on medical equipment location, usage and staff and patient interactions within all healthcare environments. This has helped facilities enhance compliance reporting, staff safety and shortage, workflow, hand hygiene and patient throughput by gathering meaningful data.

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Hospital Capacity Management Solutions Benefits Fuels the Hospital Capacity Management Solutions Market Demand

Hospital capacity management software provides a number of advantages due to technological and interoperability developments, which is boosting its adoption.

  • The software automates patient room and staff assignments, which in turn reduces waiting time and crowding in the hospital
  • The software increases bed turnover capabilities by communicating bed status automatically, allowing another patient to be treated quickly
  • It decreases waiting times and time spent in the hospital which in turn lowers the risk of patient developing hospital acquired infection
  • It helps in appropriate resource allotment by integrating real-time patient flows with business analytics

“Hospital capacity management solutions follows a proactive approach for accurate demand forecasting. Bed management solutions, asset management solutions and patient care solutions allow hospitals to monitor patient services, makes optimum utilization of its resources and promotes better hospital risk management.” – Director, Leading Hospital Capacity Management Software Provider, United States

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in Hospital Capacity Management Solutions Market

The hospital capacity management solutions market is noticeable by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and partnerships to garner market share.

For instance,

  • In October 2021, GE Healthcare partnered with Apprise Health Insights to launch nation’s first automated statewide hospital bed management solution in Oregon. Oregon is the first state in the U.S. to launch a new statewide command center software solution for hospital capacity and critical resource management developed by GE Healthcare

The hospital capacity management solutions market is a booming market that is anticipated to gain further momentum in the coming years due to growing prominence of digitalization, automation tools and data-driven solutions that utilize predictive analytics, AI, and ML.

Competitive Landscape Analysis of Hospital Capacity Management Solutions Market

The hospital capacity management solutions market is marked by the presence of players such as Cerner, McKesson, HealthStream, Stanley Healthcare, Infosys, Teletracking Technologies, WellSky, Simul8 Corporation, among others.

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