Category Archives: Healthcare And Medical Market Research

jsbThrowback Thusrday

Finance industries face most Cyber trouble, California powers FCV with 40 new hydrogen fuel stations and more news

The last week observed a few ups and downs in diverse global industries. JSB Market Research’s new ThrowbackThursday series a new weekly update for its readers. Now, get a closer view of the market every week! 

Subsea 7 gives a push to its new oil and gas projects 

Subsea 7 plans to continue its Engineering Conversion Program. The company invests in skilled engineers for building new careers in subsea oil and gas industry. The new project installation engineers will be given the responsibility for the delivery and execution of its upcoming ventures. 

California powers FCV with 40 new hydrogen fuel stations

Forty new Hydrogen Fuelling stations in California encourage fuel cell viability with its active presence. Fuel Cell Vehicles owners driving from San Diego to Lake Tahoe now will not lose out of hydrogen fuel as the new stations get them covered. It has encouraged other regions in the states to push forward hydrogen fuel stations sooner than later. 

Finance industries face most Cyber trouble 

Recent cybersecurity research reports found that there’s more threat of cybersecurity in the financial industries. For finance institutes, brokerage firms and other banking organizations, SQL injection attacks, Ransomware, and cross-site scripting are said to be the highest expected threats. 

US Trade War to affect medical device technologies market 

The medical devices market feels the heat on an international level due to the US trade war with China. Though the latest innovations in the technologies of medical devices such as 3D biopsies, improved CMR surgical has big promises, the trade war hampers its global growth. 

Saudi Arabia emerges as the largest outbound travel market

As per the recent Saudi Arabia outbound travel and tourism report, the residents of Saudi Arabia are the biggest spenders when it comes to traveling abroad. For Saudis, UAE, Bahrain, and Jordan are the top destinations for traveling. 

  – Written by Gauri Ludbe 

Business Writer

Data security in a healthcare organization

Is Cyber Security a real concern in the Healthcare Industry? Here’s Why

IMPACT OF DIGITALIZATION 

Digitalization has revolutionized the healthcare industry as much as any other. There has been a sharp increase in conversion of  business processes into digital form. These processes include the storage and processing of huge amount of data related to the consumer’s identity, personal information, medical history etc. 
Before technology took over, the healthcare industry was also supported by paper backed storage systems. But paper backs went out of use and was replaced by technology where information was stored in the form of bits.
Data security in a healthcare organization refers to the security measures taken to protect sensitive data available with the healthcare industry in the form of names, addresses, phone numbers, medical details etc. from cyber attacks. 

DATA SECURITY

With more and more use of technology backed business processes it became necessary to protect the information available in digital form. That is where data security comes into play. 
Data security refers to a set of standards and technologies that protect data privacy from intentional or accidental destruction, modification or disclosure. Data security can be applied using a range of measures and technologies, including administrative controls, physical security measures, logical controls, organizational standards, and other safeguarding measures that limit access to unauthorized or malicious users or processes.

Data Security Challenges in the healthcare industry

Securing data is not an easy task. A few challenges faced while ensuring healthcare data security are as follows:

Single layer protection Using single layer protection proves to be insufficient for protecting huge amount of data.

Difficult to keep up with demand Due to the creation of a large number of spontaneously  growing non-relational databases, security solutions are not able to keep up with the rapidly growing demand. 

Special care needed for large data When large data is involved additional security measures need to be taken to store and process the data safely

Insider leaks It becomes a difficult task to monitor insider leaks. In this case the executives who have access to the data misuse it to mine data

Mistaken Beliefs causing ineffectiveness There exist too many myths with regard to data security that weaken the effectiveness of security measures and makes data vulnerable to attacks. Some of these myths are – Maximum breaches are done by hackers, this is untrue, most of the breaches are done by insiders.

Complexity of data security systems The internet gives a platform to a complex computing environment where sensitive data faces many different types of security threats. The complexity of the system needs to be matched in the security measures also.
Healthcare data security challenges are complex and many in number. It requires up to date counter measures to keep in check.

Significance of data security in healthcare

Healthcare data security threats are the reason why data security holds such importance in the healthcare industry.  The potential consequences of data breaches are disastrous to the right to privacy of individual consumers. Identity theft is a common result of such breaches. There are other negative consequences including reselling of personal information in the stolen data black market. The identity may be stolen for various reasons like targeting sensitive medical information to influence individual’s probability to fall for internet frauds and schemes.

Growth Prospects ofcybersecurity in Healthcare industry

For the cybersecurity industry, there is no looking back. The trends in the last decade show exponential growth in the cybersecurity industry.
Similarly Cyber security is growing in the healthcare industry by leaps and bounds. Moreover there is no slow down or stop being predicted in the next decade as well.  With technological advancement in the healthcare industry the relevance of data security will become of acute importance.

Measures that can be taken in preparation against cyber threats

There are several data security measures in healthcare that can be taken to increase preparedness by the healthcare organizations.Some basic but essential measures include:
Establish strong passwords to ensure it can’t be easily guessed,Set up a firewall,Think of antivirus protection as many latest antivirus softwares are available in the market,Updating is important to stay up to date with the most recent technology ,Secure every laptop,Secure mobile phones, Schedule backups  Monitor steadily, Be smart with emails and surfing the web,Educate your employees about Data Security and create awareness about the threats faced by sensitive data.

Latest News about data security in the healthcare sector

Data Breach in Missouri 

Lawsuit filed by patients against Missouri University Healthcare for data breach of 14 thousand patients.

Experts concerned over data security with AI Healthcare

UK boosts funding for AI in healthcare: Experts convey concerns about data security.Know more about the risks related to AI in our blog Automated Cybersecurity : AI has a long way to go!

JSB Market Research’s new ThrowbackThursday

New regulations for deep sea mining, Hyundai introduces car with solar panel roof and more news.

The last week observed a few ups and downs in diverse global industries. JSB Market Research’s new ThrowbackThursday series is a weekly update for its readers. Now, get a closer view of the market every week! 

Regulations to be set by 2020 for deep sea mining: 

Owing to the increasing demand for metals in batteries, the potential of opening deep-sea mining continues to thrive in a controversial market landscape. The last week received added criticism to the deep-sea mining industry. However, as per the recent research reports, the theoretical regulations for the international deep-sea mining will be taken seriously owing to the new technology from many terrestrial mines. 

“TYS” a new blockchain application in supply chain 

IBM soon to have a tie-up with Chainyard for a new product, TYS offering it to a prominent list of clients. The list will include Vodafone, GlaxoSmithKline, Cisco, and Anheuser-Busch InBev. The new blockchain application in the supply chain is expected to have a smooth and transparent verification network.

Hyundai introduces car with solar panel roof

Sonata Hybrid, Hyundai’s new launched car has solar panels to help charge its battery. Additionally, Tesla also expressed its interest in exploring solar panel roofing in vehicles. The last week was certainly for solar vehicles market at the global level. With this, the global solar vehicle industry is projected to have a healthy CAGR of more than 36% by 2026. 

Endoline Machinery and FANUC partner up for new projects: 

The paper printing Endoline Machinery has launched a sister company and formed a strategic partnership with FANUC.  To emphasize on the robotic palletising equipment, the duo sees a progressive period ahead with their new projects in the robotics in paper, printing industry. 

The demand for endoscopy visualization systems on rise 

Market research conducted in the last week observed massive growth potential in endoscopy visualization systems. Owing to the increasing demand for EVS, researchers project a better future for the global industry. 

  – Written by Gauri Ludbe 

Business Writer


throwback-thursday-market-research-reports

Healthcare market explores extended reality, ‘Cool’ smart coatings for roof technologies, and more news

The last week observed a few ups and downs in diverse global industries. JSB Market Research’s new ThrowbackThursday series is a weekly update for its readers. Now, get a closer view of the market every week! 

Spendings double up in the future global cloud service market:

As per technology market research, Australian organizations gain A$9bn in productivity benefits from the cloud. Technology market research suggests such The worldwide spending in the cloud professional services market is likely to double by 2023.

US encourages sports medicine through new centers: 

While New York Sports Medicine Institute announced comprehensive care for athletes, the US sports medicine market is observing an increase in the number of sports Medicine and Performance Centers, the latest being in Colorado. As per healthcare market research, this will encourage development projects in the global sports medicine industry. 

‘Cool’ smart coatings for roof technologies: 

As per chemical market research, new roof technologies use phase change material (PCM) and smart coatings and surfaces that will selectively reflect and absorb heat. Smart coatings market may see more such developments in the upcoming years that will boost the overall market growth. 

New improved treatment for IPF reduces suffering and costs:

A new clinical model is expected to address terminally ill idiopathic pulmonary fibrosis patients by decreasing suffering and costs, according to pharmaceutical market research. It is considered to be an emerging innovation in palliative care. 

Healthcare market explores extended reality

The extended reality, a single healthcare platform may show a combination of different technologies for providing specific health benefits. As per recent market research, AR and VR  will grow at a CAGR of 36.35% by 2025 and it will boost its application in the healthcare industry.

  – Written by Gauri Ludbe 

Business Writer

Interim budget 2019 India

Throwback Thursday: Interim budget 2019 of India

Image Credit:TechGig.com 

India’s interim budget was announced last week and each sector peeks into the policies to see what’s ‘in’ for them. This is a #ThrowbackThursday to India’s Interim budget that fairly focused on the agricultural and rural sector, infrastructure, education, job creation, digital economy among others. 

Agriculture Sector: 

Despite criticism received for inadequate allocation to the agricultural sector, the new government managed to view 2.9 % annual growth rate during 2018-19. The 2019-20 interim budget encouraged women participation in the sector while it puts forward the agri-schemes. The Agri sector Rs 1,30,485 crore and fertilizer subsidy is Rs 79,996 crore for the year 2019-20 through initiatives such as PM-Kisan scheme, Pradhan Mantri Krishi Sinchai Yojana, etc. 

Finance sector: 

High-rated pooled assets of BFCs amounting to a total of one lakh crore during the financial year. Government’s new schemes are expected to boost confidence in the finance industry and help it tide over liquidity issues 

Startups: 

The budget 2019 was in talks for its pro-startups approach. Apart from the government’s TV program dedicated to startups, the governments’ budget talks a lot more than the trend. It primarily proposes to help 20 tech businesses set up resources business incubators and 20 tech business incubators by next year. The government estimates it to benefit more than 70,000 skilled startup creators. Governments’ other startup initiatives encourage Foreign Direct Investments and aim to streamline the process for business newbies. 

Healthcare:

Government plays it safe for the healthcare sector as it hikes finance allocation for the section. However, there has not been any new scheme or initiative dedicated to boosting certain crucial healthcare market segments. 

Industries: 

With a great boost to the infrastructure sector, the government plans to support industries such as cement, chemical and other sectors. Despite which, the infrastructure sector may face challenges in overcoming commercial drawbacks. The revisions done in the duties of diverse industrial sectors remained mostly positive. 

Government plans to boost commercial development of India through technological advancements, export competitiveness in various industries. It will be interesting to see how the year turns out to be for the Indian economy ahead of execution. 

  – Written by Gauri Ludbe 

Business Writer

Ai in Cannabis Industry.

Is the big leap here yet? Genetic libraries and AI speaks for the cannabis industry.

The basics of cannabis are fairly simple. A couple of genetic libraries in Canada are conducting advanced research while there are also a few startups coming up with AI integration in the industry. The next big thing for the cannabis industry is here.  

Read More

AI in healthcare

How is AI helping thrive every sector? Watch out the projected trends in 2018

Market leaders invest in the AI and machine learning research to offer better than the best to their customers. What will the new tech trends bring to business industries? 

Artificial Intelligence is gradually getting into every sector of the industry. Be it farming or architecture AI advancements are growing rapidly. You may not feel its presence but AI technology and machine learning are the two trends which are subtly becoming a major part of our everyday life

Speaking of businesses, this technology is becoming the open secret of every leading firm’s next move in the industry. Research reports have shown a significant number of market players are investing in the AI research and development, healthcare and communication being the some of the top AI-driven industries.

HealthCare:

Google’s parent company Alphabet has shifted its AI emphasization to the healthcare sector apart from its ‘other bets’ investments. The tech-hub has begun applying Artificial Intelligence in the healthcare solutions while partnering with some of the renowned insurance companies. They are venturing into gadgets that can manage and detect patients risks.

Another AI development booming this year is the robot-assisted surgery. The first such surgery has already taken place in March this year in Kazakhstan. The da Vinci technique has made several complex methods easy to perform offering greater flexibility and precision to surgeons. A couple of virtually assisted nursing AI tools have also been introduced to the market attracting the healthcare technology trend.

Agriculture:

Niti Ayog, the think tank of Indian economy has partnered with a tech giant to employ AI technology driven agri-assistance for the farmers of India. The company will use satellite and sensor images, real-time weather data and machine learning to offer the advisory assistant.

Robotic harvesting tools and yield-boosting algorithms are some more AI advancements of the year making a big hit in the agriculture sector. Taking it further, the technology is creating chatbots specially designed for farmers. Using this technology, farmers can communicate in their regional language and solve their doubts through virtual assistants. These chatbots will have advanced voice modulation data to understand the local language of farmers.

Education:

Education is rapidly getting integrated with Artificial Intelligence creating advanced academic solutions for students which complement their classroom learning. The advancements are making the education more interesting and interactive with personalized doubts solving and question answering. Although technology cannot replace the conventional teacher-student education, it is certainly adding a methodological application to make the learning easier and better.

Not only students but also the teachers are getting benefited from the advancements in Edtech AI domain. One such development helps instructors to determine the weak areas of a student to help them focus more on that area eventually raising the overall learning bar of a student.

Communication:

AI has been majorly revolutionized in the field of corporate communication making it more efficient and easier. Artificial Intelligence is contributing to establishing the trust determining factors of consumers. If your consumer does not trust the answers received, the credibility of your firm can be lost. AI technology is using advanced techniques to offer personalized yet accurate information to the customers and build a trustworthy communication with them.

Identity-based communication is also an emerging advancement in the field of corporate communication which will help understand the customer requirement through data fetched and will be able to guide consumers to get their needs fulfilled. In the same manner, AI and machine learning are improving the internal communication of companies to ensure smooth flow of work. It will make faster and precise response to the queries raised and may lead to greater conversions as well.

Automobile:

Already in the trends, the automobile industry has started thriving even more after the automated technology came in. Along with big automobile undertakings like Tesla, BMW and Volvo the AI technology in this industry has also attracted the E-commerce giant Alibaba.

There are certain drawbacks in the development, although, 2018 may become the year to overcome all shortcomings of self-driving cars heating up trends in the next few months.

Artificial Intelligence will be here to stay and will continue astonishing us with its marvelous contribution to every sector. The journey, however, is so astoundingly rapid that people are getting accustomed to interacting with technology in their everyday life.

Healthcare

Healthcare communication research begs a behavior change

We depend on market research to give us the necessary industry insight so that healthcare brands can get a competitive advantage by creating marketing campaigns and interventions that are more targeted to create certain type of behavior.

Gone are the days of traditional research methods. They are not adequate enough to provide brands, the boost they want.

The challenge is set. Thankfully, we have in-depth information regarding what makes people tick and a point of view that can be applied to an entire program of market research to prompt the desired behavioral outcome- like for e.g. brand loyalty, change, compliance and uptake etc.

Whatever the necessary behavioral shift may be, we can apply a simple model, framework and checklists to enhance the utility of insight and effect of the advised actions on outcomes.

Optimizing Research Design

Behavior shift principles are important at the first step. How market researchers unpick a business issue or a brand challenge needs to put attention on the goal behavioral outcome.

Three questions that need to be asked are – what are particular behavior we are hoping to create or change? What are the present, principal behavioral biases at play? Which behavioral biases could we leverage?

Model for behavior change

Behavioral outcomes – To guarantee actions can be significant you need to start here and work backwards.

Mental processing –  To determine current obstacles and drivers of behavior, market research report needs to discover why individuals behave as they do today – which of the 6 crucial biases are at play?

Default – We follow habits and have ingrained behavior pattern

Self-Efficacy: We need to believe we can do something to do it

Loss Aversion: People favor evading losses to obtaining equivalent gains

Affect: Our feelings influences how we think and make decisions

Effort: We are inherently lazy and want to expend minimal energy if we can.

Decision frame

We can afterwards discover what can be done to vanquish or leverage the crucial biases to influence the desired behavioral result.

Once the information is collected, applying a focused behavior change analysis framework  [along with traditional measured as apt] is the crucial point. There is no “one size fits all’ method.

The framework is an indication and grounded on customer success criteria took during the research itself. Looking at current behaviors of user’s vs/ non-users can assist to recognize the behavioral prejudices you need to vanquish or those you can more easily leverage.

Focused outputs and interventions

The behavior switch model guides the growth of the most apt [ & most focused] intervention. This process, again is bespoke and grounded upon biases in landscape, play and initiatives scope. A few best tips to keep in mind at this point along with to the analysis output are –

  • Re-ascertain the desired behavior you are hoping to change- what is the objective of your intervention?
  • Be particular- think about who, what, when, where, why and how?
  • Keep your eye on the contextual factors, social norms – when possible use these factors to advantage.

A minutely designed campaign/ intervention can be inadequate if the implementation is not carefully lined up with the design strategy. A huge part of this is appealing all main internal stakeholders so that the route to brand success is mutual with those involved, especially at the coalface.

With tightening budget consideration, we need to be careful not to miss the value of a more targeted approach to communications research. Although taking more investment- especially in terms of time, this has the power to bring greater success in both long and short term goals.

Impact of Healthcare Automation on Healthcare Market Research

Impact of healthcare automation on healthcare market research

One of the market research industry trends, that everyone in the industry is excited about, is ‘Automation’ given the range of benefits it has brought across diverse industry platforms. In fact, the global Healthcare automation market is predicted to have a fast CAGR [ Compound Annual Growth Rate] in the coming years. Therefore, a lot of speculation has been made as to what automation implies and should be applied to healthcare market research.

Automation has been a boon for various sectors, saving time and thus increasing productivity and efficiency. They say that what can be automated, will be automated sooner or later, but what does it mean for healthcare market research reports?

Here are the foremost four market research features that need to be speculated bearing in mind the automated solutions-

Survey information

One of the reason, the traditional surveys take weeks to assemble and report the enormous amount of time and human resources used of sifting and cleaning info sets. New survey technology applications handle this issue head on by authenticating responses as they come in.

By another name, it is called ‘real time’ data quality assurance and it utilizes software to clean data sets as soon as surveys close or during fielding to offer high standard quality, real-time survey information. With large number of healthcare market research companies adopting this approach, the survey technology providers are advancing the art of survey data analysis.

Sampling

With physicians busier than ever, getting them to offer high-quality response while occupied is a puzzle. Meanwhile, how do you fill a survey with the correct respondents and how can it be done quickly?

Besides, market research healthcare reports note that 1/3rd of respondents are already using automated sampling and out of them, many were concerned regarding the impact of this automation on information quality. Advanced sampling algorithms however let you optimize speed and answer quality, today.

The better sampling automation used a methodology that goes out to smaller respondent subsets at a time in order to decrease the number clicking through only to find out that the survey has closed. Such methodology means an improved survey experience for physicians, which results in faster responses and growth in rates of participation all in the facility of advanced info quality.

Translation and Transcription

Application program interfaces [API], that allow different software programs to be interconnected, have experienced boom in utilization in the recent years. For instance, looking up local hotels in Yelp by using google maps, while staying in Yelp the entire time, is done through APIs which assures seamless user experience. Similar is in qualitative and quantitative interviews where translation and transcription are required. Therefore, the API creates an interconnected network of services which does everything from collecting survey data, to uploading files on a third party transcription or a translation service supplier, and receiving the material translated, all through a singular user interface.

Tracking studies

Market research applications are applying a similar algorithm that to of a social media time line [ algorithms to automate shares, tags and tweets] for tracking study. Automation can take the arduous task out of the monotonous fielding of aggregate responses, tracking surveys and offering visual contrasts of several waves. In simpler terms, automation can do the repetitive tedious work so that market research teams can use their time to analyze KPIs and make quick/ smart decisions with that information.

The Ace Factors For Growth in Global Diabetes Drug Therapy Industry 2015

DiabetesThe world has seen a surge in diabetic population past many years, and combined with R&D activities, technological innovations, the global diabetes drug therapy market has registered a 5.9% CAGR for 2013 to 2019. The industry medications coupled with relevant devices can grow to US$83.0 billion by 2019. The medication possibilities are segmented as oral anti-diabetes, non-insulin injectable drugs, and insulin. These derivatives involve premixed rapid/short acting/long acting and intermediate acting insulin.

In 2012, long insulin acting varieties had a major share of 42.77%, and expected to scale the highest CAGR until 2019. In oral diabetes drug industry comprises of Sulphonylureas, Meglitinides, Biguanides, Thiazolidinediones, Alpha-glucosidase inhibitors, SGLT-2 inhibitors, and DPP-4 inhibitors. The SGLT-2 inhibitors are leading at 76.8% CAGR from 2013 to 2019 with promises of fastest growing segment. The GLP-1 analogs from non-insulin injectable drugs may also catch up a strong wind in the forecasted period.

Who are taking over the Diabetes Drugs Industry?

The key regions that concentrate on anti-diabetes medicines are Asia Pacific, North America, Europe and Rest of the world. North America is in the forefront while Asia Pacific is rapidly expanding in matters of anti diabetes medicines, as per the industry research reports. The market driving aspects are increased awareness about the health condition, ease of self management of the disorder, healthcare technology, and rise in medical expenditure. The competitive landscape is overseen by several key players.

Some of the major competitors for both medicines and devices are Bayer HealthCare AG, AstraZeneca plc, Johnson & Johnson, Novo Nordisk A/S, DexCom, Inc., GlaxoSmithKline plc, Medtronic, Inc., F. Hoffmann-La Roche Ltd., Takeda Pharmaceutical Company Limited, Merck & Co., Inc., Becton, Ingelheim GmbH, Dickinson & Company, Lupin Limited, Abbott Laboratories, Inc., Eli Lilly and Company, Boehringer Novartis International AG, Sanofi, and B. Braun Melsungen AG.