GMDC: Shifts in Health Care Creating Self Care and Increasing Shopper Trips
78.5 million consumers will be using home health care technology by 2020
COLORADO SPRINGS, Colo., Sept. 13, 2016 – The home is the new doctor’s office of choice for many consumers, according to new research released by the Global Market Development Center – a leading trade association that advances innovation in the marketplace. GMDC’s latest Health Beauty Wellness Best-Practices white paper, “Preparing for the Future of Retail Healthcare: Home Health,” explores the shift in care from the institutional settings to “wherever the patient is.”
Home health is being fueled by factors including a shortage of primary care physicians and access to better over-the-counter retail options. Already, eight in 10 consumers prefer using OTC self-treatments before visiting a health care professional.
“For retailers and manufacturers, the market potential in home health is significant, and it's being driven by the consumer taking ownership of their own health and wellness. This is just the tip of the iceberg -- there is downstream innovation on the horizon that will continue to drive market opportunities, and we’re working diligently to help our members capitalize,” said Patrick Spear, president and CEO of GMDC. “Nearly every household in the U.S. is engaged in self care in one way or another. From smart scales, to ingredient scanners, to brain activity monitors, retail is the primary pathway for the patient-consumer to better manage their own health. The home has become the place to address most chronic - and some acute – conditions, and the consumerism of health care is not just a trend, it’s the future.”
Dave Wendland, vice president of strategic relations for Hamacher Resource Group, Inc., describes a home health model that places patient empowerment at the center.
“Patient empowerment means putting the patients and those who may be helping to care for them in charge with the right tools and knowledge,” said Wendland. “In the health care continuum, the patient is surrounded by market trends such as the self care movement as a whole, transitions in care from the hospital to the home and – perhaps most impactful – advances in technology.”
Digital health care options, including telemedicine consultations and mobile health apps and trackers, allow consumers to become “ePatients.” Research predicts the number of consumers using home health technologies will increase from 14.3 million worldwide in 2014 to 78.5 million consumers by 2020.
GMDC’s white paper includes special insights on the new shape of retail health care from Jumpstart Foundry, a seed stage healthcare innovation fund dedicated to being the home of health care innovation, and helping entrepreneurs make something that truly makes a difference.
The research was sponsored by Crossmark, Navajo, Johnson & Johnson Consumer Inc., AmerisourceBergen, BigTime Products, Energizer, Unilever and Nielsen. Watch the archived infocasts, Home Health Part I & II presented by Hamacher Research Group, Inc., here.