Global wearables market to expand substantially by 2021
The GCC’s healthcare market is set grow by 78% and reach $71b by 2020.
Ahead of the upcoming GITEX Technology Week 2016, a number of market intelligence firms have highlighted the rapid expansion of the GCC's healthcare market, as well as advancement of several medical technologies.
These include a sharp increase in machine monitoring, patient record digitisation and wearables. In fact, according to a report produced by Ardent Advisory, the GCC is expected at least $2b in new patient-management technologies, while additionally overseeing the construction of 37 mega-hospitals worth $28b.
Similarly, Tractica has released its figures on healthcare wearables, which it concludes will see a substantial growth in shipments from 2.5 million units in 2016, to reach 97.6 million by 2021. Additionally, the market will likely see $18b in revenues.
Alpen Capital reports that the overall GCC healthcare market will likely grow by 78% from the $40b reported in 2015, to reach $71b in 2020.
During GITEX's Healthcare Monday, an industry vertical programme and conference part of the technology week, Dr Rafael Grossmann, the first surgeon to live-stream surgery on Google Glass, and Australia's first Chief Medical Information Officer Dr Monica Trujillo will speak on cutting-edge healthcare technology.
Commenting on such technologies, Dr. Trujilo shared: "In combating lifestyle diseases, the way that medical professionals use technology to manage and collect information can be as important as advances in medical science."
The doctor is responsible for the introduction of a clinician engagement strategy at St Stephen's Hospital in Queensland, Australia's first fully integrated digital hospital.
Part of the strategy includes the adoption of patient wristbands relaying critical information to the hospital's staff, which reportedly can be accessed both on premises and from their residences.
Additional speakers include Jessica Federer, Chief Digital Officer of global pharmaceutical company Bayer; Alan Boehme, Chief Technology Officer of The Coca-Cola Company; and Dr Timothy Low, Chief Executive Officer of Singapore's innovative Farrer Park Hospital.