Pharmaceuticals and biotechnology, IVD, advanced medical technologies, medical imaging and  informatics, and digital health expected to hit over $2.6 trillion by 2025

Santa Clara, Calif. –April 12, 2021– Frost & Sullivan’s recent analysis finds that the emergence of  the anytime-anywhere care concept with the COVID-19 outbreak has transformed the healthcare sector  worldwide, resulting in a surge in demand for digital health applications—especially telehealth and remote  patient monitoring. Vendors’ need to redefine their visions and strategies to align with the new normal will  be a key factor that will define the global healthcare market in the coming years. In an optimistic scenario,  the total healthcare market—pharmaceuticals and biotechnology, in-vitro diagnostics, advanced medical  technologies, medical imaging and informatics, and digital health—is estimated to hit over $2.6 trillion by  2025, growing at a compound annual growth rate of 6.3%. 

For further information on this analysis, please mail Srihari Daivanayagam at  srihari.daivanayagam@frost.com. 

“The new vision for healthcare in 2021 will focus on using digital means to ensure access, quality, and  affordability, in addition to strategies designed to overcome the losses sustained in 2020. At the same time,  it is important to ensure healthcare remains precise, preventive, and outcome-based in the promotion of  social and financial inclusion,” said Chandni Mathur, Healthcare & Life Sciences Senior Industry Analyst at  Frost & Sullivan. “Between 2021 and 2023, innovative business models are expected to emerge. These will  be targeted at developing innovative return on investment (ROI) streams to regain lost revenues while  ensuring patient centricity.” 

Mathur added: “With interoperability and data security being high-stake issues, the healthcare sector will  experience a transformation in business, novel models of delivery, and the emergence of new businesses in  the next five years. Additionally, non-traditional healthcare players, such as Amazon, Apple, and Microsoft,  will play a key role in this transformation with high penetration in the virtual care space.” 

As patients grow accustomed to digital healthcare, service providers will focus on building efficiencies and  managing scalability issues for the following growth opportunities: 

∙ Real-world, data-supported approaches to increase the adoption of immuno-oncology (I-O) agents  into the standard of care. 

∙ Digital point-of-care testing (POCT) platforms for infectious disease testing. 

∙ Artificial intelligence in imaging and virtual platforms in high-acuity care to optimize workflow and  improve clinical outcomes. 

∙ Expansion of telehealth services toward virtual care across the care continuum. 

Developing Innovative ROI Streams and Patient-centric Virtual Care Approaches will Shape the Global  Healthcare Industry, Outlook 2021 is the latest addition to Frost & Sullivan’s Healthcare & Life 

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