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From Thailand to Singapore, an Increased Appetite for High-Tech Healthcare Solutions

Monday, February 7th, 2011

hitech healthcare
The healthcare, IT and technology sectors all across Asia are preparing for a dramatic rebound; the persistent softness of the global economy notwithstanding.

The strong growth of the sector began to be noticed in 2009. As discussed by Healthcare IT News, Frost & Sullivan published a report saying that although the healthcare IT IT market only accounted for 2.1percent of the total healthcare market in the region, that share could however double or even triple between 2009 to 2019. A major driver in this growth is expected to be the increasing presence of healthcare IT IT in the various aspects of healthcare delivery systems, as well as the increasing capacity for innovation in the region.

As discussed in the article, the importance of IT IT in healthcare is due to the fact that healthcare-IT solutions can help decrease the uncertainty that can exist in care delivery through by providing controls to help meet acceptable care standards. Many variables exist, both internal and external, that can significantly affect the quality of healthcare. Foremost among these is the fact that traditional healthcare solutions rely greatly on human cognitive functions and judgment that may not be up to par where standards are concerned. Healthcare-IT IT solutions can help deal with these variables to ensure that quality is delivered at a consistently high level.

In another, more recent, report released in June 2010 concerning the medical-devices market, Frost & Sullivan also found that the market is making a consistent comeback from the depths of the recession. The firm foresees that the market will experience a compound annual growth rate (CAGR ) of 10.2percent from 2009-2012. The market is beginning to transition towards a perspective whose focus is patient monitoring, in which higher accuracy, safety, efficiency and cost-effectiveness are paramount. The incorporation of healthcare-IT solutions into healthcare procedures and practices can help achieve these higher-quality targets.

Another factor driving the increased adoption of such solutions is seen to be increased technological convergence between devices that perform monitoring, diagnostic and treatment functions. Said convergence is seen to aid in the accurate delivery of specific drug doses while also being able to help properly diagnose conditions and diseases and effectively monitor patients. This combined with the aforementioned factors is to spur manufacturers of medical devices to boost their R&D budget in order to craft better solutions more capable of meeting patients’ needs and the industry’s higher standards.

Many companies are beginning to jump on the bandwagon. For instance, as reported by Thaindian News in May 2010, tech company Cisco and Apollo Hospitals, the largest healthcare provider in Asia, are collaborating to revolutionize the healthcare delivery in places such as rural India via the provision of cutting-edge ICT solutions.

In addition, a 2009 report by Telecom Tiger states that the all-powerful mobile sector has also begun to impact healthcare. Popular applications include remote access to mobile healthcare information, remote patient monitoring via mobile networks and devices, medical records access, and the like. This formidable yet still-growing segment is estimated to reach up to US $1 billion in value by the end of 2010.

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