Finding the right tech model for patient care management
As the number of diabetes patients grows, doctors will increasingly turn to technology to help manage care. This creates an opportunity for vendors to provide technology that can transform the industry to make care more effective, more personal and more convenient, writes Parks Associates' Harry Wang.
The number of diabetes patients and those with the potential for diabetes has grown substantially over the past decade and continues to expand. This trend creates a tremendous demand for innovative care solutions and service models. New service innovations will take advantage of the latest monitoring and communication technologies. As a result, the diabetic care service sector will experience a boom period with annual revenues topping US$1.9 billion in 2013 and growing at a five-year CAGR (compound annual growth rate) of 33 percent.
Technology will transform diabetic care management in the following ways:
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