Health: market intelligence report

The report investigated the use of digital media and communications in healthcare. It aimed to look at the delivery of health services, including clinical, education and administrative services, through the processing, management or communication of information, including video, audio, graphics and signal data. The report described the future market opportunities, challenges, key drivers and the potential functional needs of the health sector.

The methodology consisted of: market intelligence workshops, attended by experienced individuals from industry and academia; face-to-face interviews with key organisations in the health sector; and desk research of secondary data from internationally recognised market analysts.

The report finds that digital media and communications comprise nearly five per cent of a large and expanding healthcare sector. Important trends in the healthcare sector include: increasing costs; lack of trained staff; ageing populations and unhealthy lifestyles; and increasing litigation against healthcare organisations. Market opportunities exist for companies to develop key elements of technology in both patient care and care setting, allowing rapid company growth followed by profitable returns. Demand for increased efficiency is likely to encourage increased adoption of new information management capabilities. However, adoption is likely to be a slow and extended process. A number of barriers exist to market entry for new technology providers, including: very distinct budget boundaries; difficulties in accessing the cost data required to develop robust Return on Investment (ROI) models; inadequate management decision support infrastructure; clinicians’ resistance to the introduction of new technologies; staff training costs and time to utilise new solutions; the importance of security and patient data privacy to new solutions; heavy regulation of healthcare, a lack of a well-developed information infrastructure; and lack of standards in key areas.

The report suggests that this market analysis should provide a base input for ITI Techmedia to select those functional needs with the strongest potential market ‘fit’ and the greatest potential to be a success when utilised within the identified target markets. These selected functional needs will be used to define potential technology platforms, which will be then used as input into the ITI Techmedia programme selection process.