Biomedical & ICT Convergence Market Outlook to 2024: Diagnostic & Research Will Be the Prime Application Area

DUBLIN, Dec. 16, 2019 /PRNewswire/ -- The "Biomedical and ICT Convergence Market by Technology, Solution and Region 2019 - 2024" report has been added to ResearchAndMarkets.com's offering.

Select Report Findings

• The biomedical ICT market is expected to exceed $45 billion USD by 2024
• North America will lead the biomedical ICT market during the forecasted period
• The hardware technology will represent over 50% of the biomedical ICT market by 2024
• Diagnostic and research will be the prime application area within biomedical ICT market
• Biomedical and ICT convergence is the foundation for the preponderance of biomedical tech

This report evaluates the market for convergence between the Information and Communications Technology (ICT) industry and biomedical science and technologies. The report evaluates the latter and analyzes the former in terms of ICT innovation such as connected medical devices. In addition to forecasts for IoT connected healthcare devices (standalone, wearable, and implantable), the report also assesses the outlook from 2019 to 2024 for various biomedical products, services, and solutions poised to benefit from various IT and telecom technologies.

The field of biomedicine is concerned with the application of various natural science disciplines for the development of knowledge, interventions, and/or technologies for use in healthcare. The Information and Communications Technology sector focuses on telecommunications, computing, and the integration of both. Related to ICT is the term TMT, which more broadly refers to Technology, Media, and Telecom. Both are related to the use of various digital technologies for communications, applications, commerce, and content. The convergence of biomedical and ICT represents a high opportunity area for both healthcare and ICT industries.

In addition to seeking cures to disease and ailment prevention, the convergence of biomedical and ICT technologies and solutions will lead to improved treatment efficacy as well as overall improvements in healthcare service delivery efficiency and effectiveness. With healthcare costs growing much faster than the general inflation rate, it is of the utmost importance to simultaneously seek improved treatment while continuously driving down business costs. These costs include ongoing operational expenditures as well as expensive R&D such as drug discovery and other pharmaceutical-related areas such as vaccine development that takes into account precision medicine practices.

Various ICT tools may be employed such as IoT enabled monitoring to determine the effectiveness of medical procedures, which can be especially important when administering new and unproven healthcare modalities. One specific example is the administration of vaccines, which is believed to potentially cause harm to a subset of the population based on epigenetics, which is the study of changes in organisms caused by modification of gene expression rather than alteration of the genetic code itself. This is believed to be an area in which a healthcare modality (in this example, vaccines) is designed with one intent (to inoculate one to prevent the onset of disease), actually may unintended consequences (potentially causing harm based on an individual's unique gene expression.

One of the fastest-growing areas for ICT in healthcare is the use of wireless access by IP-enabled, handheld digital devices. Wearables and implantable technology hold the promise of a level of monitoring and healthcare administration that is unprecedented in the history of health science. Ranging from treatment administration to clinical decision support, connected devices are a rapidly evolving tool for the advancement of healthcare practices. These same tools may be used for both reactive and proactive medical modalities such as insulin modification and vaccine optimization respectively. The convergence of ICT and biomedicine is therefore anticipated to lead to both improved economics (lower costs and improved revenues through the identification of new healthcare treatments) as well as improve overall public health.

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Key Topics Covered

1. Executive Summary

2. Introduction
2.1 Overview
2.2 Research Objectives
2.3 Select Findings

3. Introduction
3.1 Biomedical Technology
3.1.1 Biomedical Science
3.1.2 Biomedical Engineering
3.1.3 Biomedical Informatics
3.1.4 Biomedical Research and Development
3.2 Biomedical and ICT Convergence
3.3 Biotechnology vs. Biomedical Technology
3.4 Biomedicine
3.5 Market Trends

4. Biomedical and ICT Technologies and Solutions
4.1 Technology Analysis
4.1.1 Biomedical Diagnostics Devices
4.1.1.1 Electrochemical Test Strips
4.1.1.2 Integrated Cartridges
4.1.1.3 Lateral Flow Assays
4.1.1.4 Molecular Diagnostics
4.1.2 Bionanotechnology
4.1.3 Temperature Sensors
4.1.4 Refrigerators and Freezers
4.1.5 Metal Equipment
4.1.6 Software Technology and ICT Services
4.2 Biomedical and ICT Application Analysis
4.2.1 Diagnostics and Research Solution
4.2.2 Tissue Engineering and Regeneration
4.2.3 Fermentation
4.2.4 Cell-Based Assay
4.2.5 PCR Technology
4.2.6 Chromatography
4.2.7 Additive Metal Solution
4.3 Cloning and Somatic Cell Nuclear Transfer
4.4 Industry Specific Uses
4.4.1 Medical, Pharmaceutical, and Health
4.4.2 Food and Agriculture
4.4.3 Natural Resources and Environment
4.4.4 Industrial Processing
4.4.5 Bioinformatics
4.5 Cloud Deployment and IT Infrastructure Management

5. Company Analysis
5.1 Abbott
5.2 Amgen Inc.
5.3 Analog Devices
5.4 AstraZeneca
5.5 Biogen
5.6 Bio-Rad Laboratories
5.7 Biodirection
5.8 BioTelemetry
5.9 Carpenter Technology
5.10 Celgene Corporation
5.11 Dentsply Sirona
5.12 First Sensor
5.13 GE Healthcare
5.14 Gilead Sciences
5.15 Haier Biomedical
5.16 Helmer Scientific
5.17 Hoffman-La Roche Ltd.
5.18 Honeywell
5.19 Johnson & Johnson
5.20 Lonza Group
5.21 Medtronic
5.22 Merck & Co
5.23 Nonin Medical
5.24 Novartis AG
5.25 Novo Nordisk
5.26 NXP Semiconductor
5.27 Panasonic
5.28 Pfizer Inc.
5.29 Sanofi Aventis
5.30 Smiths Medical
5.31 STMicroelectronics
5.32 TE Connectivity
5.33 Texas Instruments
5.34 Thermo Fisher
5.35 Wright Medical Group
5.36 Zimmer Biomet

6. Biomedical ICT Market Analysis and Forecast 2019 - 2024
6.1 Global Biomedical ICT Market 2019 - 2024
6.1.1 Aggregate Market 2019 - 2024
6.1.2 Market by Technology 2019 - 2024
6.1.2.1 Market by Hardware 2019 - 2024
6.1.2.1.1 Market by Diagnostic Device 2019 - 2024
6.1.2.1.2 Market by Temperature Sensor 2019 - 2024
6.1.2.1.3 Market by Refrigerators and Freezers 2019 - 2024
6.1.2.1.4 Market by Metal Equipment 2019 - 2024
6.1.2.2 Market by Software 2019 - 2024
6.1.2.3 Market by Service 2019 - 2024
6.1.3 Market by Solution 2019 - 2024
6.1.3.1 Market by Diagnostics and Research Solution 2019 - 2024
6.1.3.2 Market by Biomedical Metal Solution 2019 - 2024
6.1.4 Market by Industry Vertical 2019 - 2024
6.1.5 Market by Cloud Deployment 2019 - 2024
6.2 Regional Biomedical ICT Market 2019 - 2024
6.2.1 Market by Region 2019 - 2024
6.2.2 North America Market Forecast 2019 - 2024
6.2.3 Europe Market Forecast 2019 - 2024
6.2.4 APAC Market Forecast 2019 - 2024
6.2.5 Latin America Market Forecast 2019 - 2024
6.2.6 Middle East and Africa Market Forecast 2019 - 2024

7. Conclusions and Recommendations
7.1 Advertisers and Media Companies
7.2 Artificial Intelligence Providers
7.3 Biomedical Device and Equipment Providers
7.4 Broadband Infrastructure Providers
7.5 Communication Service Providers
7.6 Computing Companies
7.7 Data Analytics Providers
7.8 Contract Research Organizations
7.9 Networking Equipment Providers
7.10 Networking Security Providers
7.11 Semiconductor Companies
7.12 IoT Suppliers and Service Providers
7.13 Software Providers
7.14 Pharmaceuticals and Hospitals
7.15 Enterprise and Government

8. Appendix: Connected Medical Device Market Analysis and Forecasts
8.1 Connected Medical Device Market Drivers
8.1.1 Connected Health and Telemedicine
8.1.2 Wearable Healthcare Devices
8.1.3 Specialized Healthcare Devices
8.2 Global Connected Medical Device Market Outlook
8.3 Connected Medical Device Market by Manufacturing Method 2019 - 2024
8.4 Connected Medical Device Market by Location/ Usage 2019 - 2024
8.5 Connected Medical Device Market by Delivery/Acquisition 2019 - 2024
8.6 Connected Medical Device Market by Risk Classification 2019 - 2024
8.7 Connected Medical Device Market by Industry Sub-sector 2019 - 2024
8.8 Connected Medical Device Market by Key Therapeutic Segments 2019 - 2024
8.9 Connected Medical Device Market by Connectivity Method
8.10 Connected Medical Device Markets by Region 2019 - 2024

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