SANTA CLARA, Calif., May 31, 2018 /PRNewswire/ -- Frost & Sullivan's recent analysis, Healthcare Innovations in Emerging Economies,
The analysis also offers a snapshot of the current industry scenario, covering market growth, top players, major drivers, and challenges faced by companies operating in emerging markets, especially India, China, and Taiwan. It also discusses game-changing technologies and research initiatives that drive business performance. Additionally, it takes an in-depth look at the areas transforming customer experience along the chain of care.
"Medtech giants with footprints in emerging markets can address the market leadership issue by decentralizing R&D programs," said Arjunvasan Ambigapathy, Research Analyst, TechVision. "Setting up regional innovation centers is critical to understanding the needs and behaviors of local customers during various stages of the product development cycle and to ensure new product development (NPD) projects consider the product lifecycle rather than focus only on product commercialization."
For further information on this analysis, please visit: http://frost.ly/2i7
Hospitals in emerging markets have made use of advanced cognitive computing techniques and solutions such as IBM Watson for the early detection and diagnosis of cancer and the added benefits of creating a customized treatment plan for patients. Meanwhile, the efforts to miniaturize sensors and electronics used to gather physiological data from patients have resulted in wearable digital health monitoring systems, which are becoming highly popular. Tools like wearable technologies that aid in the collection of personal health data, along with the implementation of Big Data analytics, cloud computing, and Internet of Things (IoT), will accelerate the shift toward more precise and personalized delivery models.
In addition to technology advancements, local medtech companies in emerging nations are taking strong initiatives to make the most of the tactical advantages they have over global majors. Some of these efforts and advantages include:
"While they enjoy a favorable investment and R&D climate, local players tend to source locally, and this often compromises the quality of their solutions," noted Ambigapathy. "They can eliminate this challenge to a great extent by adhering to a single supplier and collaborating periodically to improve the quality of materials sourced."
Healthcare Innovations in Emerging Economies is part of Frost & Sullivan's global Medical Devices & Imaging Growth Partnership Service program.
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SOURCE Frost & Sullivan
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