Globalization and the Digital Healthcare Industry: Opportunities and Challenges

Globalization and the Digital Healthcare Industry: Opportunities and Challenges

Copyright: © 2024 |Pages: 33
DOI: 10.4018/979-8-3693-0928-5.ch007
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Abstract

Globalization has changed digital healthcare by removing geographical barriers. Telemedicine and virtual platforms can democratize healthcare for marginalized people. Global healthcare data exchange allows research, data-driven decisions, and personalized medicine. Data security, patient privacy, and regulatory harmonization remain issues. Finding a balance between innovation and patient safety is crucial. Globalization is transforming digital healthcare in many ways. This book chapter endeavors to undertake a thorough critical analysis, delving into the profound implications of globalization on the digital healthcare industry. Its overarching goal is to illuminate the multifaceted spectrum of opportunities and challenges that this dynamic interplay brings forth, with far-reaching implications for healthcare providers, policymakers, and stakeholders on a global scale.
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Defining Globalization

What is Globalization?

Globalization, as a fundamental concept, is a dynamic process that extends beyond the limitations of individual nations and fosters a complex web of interdependence and interconnectedness among governments through the exchange of goods, services, information, and ideas on a global scale (Gondwe & Kavinya, 2008). The phenomenon of globalization, characterized by its intricate and multifaceted nature, has significantly influenced the global arena during the past few decades. From an economic standpoint, globalization has been crucial in facilitating the expansion and progress of global trade and investment. However, it is important to acknowledge that globalization encompasses more than just economic aspects. It also encompasses cultural shifts, as the dissemination and dissemination of ideas, practices, and values occurs globally.

Globalization exerts a profound influence on diverse sectors, with healthcare being one of the domains significantly impacted. The interconnectedness of multiple elements has led to the necessity for international collaboration and coordination in resolving public health emergencies, hence influencing the development of health policies and practices. Globalization has shown potential positive impacts by minimizing the gaps in health inequalities between rich and poor people by improving healthcare for all. However, there are also downsides to global health, such as the spread of infectious diseases such as HIV/AIDS, SARS, and Ebola due to rapid mobility, which is emerging as the greatest threat to all (Runnels et al., 2014). This indicates that the effects of globalization on health are multifaceted, stemming from alterations in social stratification, varying exposure levels, health system dynamics, and disparate consequences. These transformations result from the influence of globalization on key determinants such as power dynamics, resource distribution, labor markets, policy frameworks, trade patterns, financial flows, water and sanitation practices, food security, and accessibility to essential medicines. (Runnels et al., 2014).

Further, the progress in communication technology and transportation has played a pivotal role in the phenomenon of globalization, facilitating easier travel, communication, and information sharing across different corners of the globe (Tomlinson, 1999) while also impacting healthcare. In the healthcare sector, the integration of technology, often referred to as digital healthcare or eHealth, has seized the opportunities presented by globalization to revolutionize healthcare globally. Technological advancements have been instrumental in driving globalization by breaking down barriers to information flow and enabling real-time connectivity, significantly streamlining the process of establishing connections and engaging with individuals across diverse locations, creating the potential for events, activities, and decisions in one geographical area to exert considerable influence on others. This compound effect of globalization and technology has led to the emergence of Digital Health Care as a transformative force, reshaping the delivery, access, and management of medical services on a global scale.

As we have understood globalization beyond economic development, such as institutional, sociocultural, and environmental transitions, this would be the right time to value its understanding of healthcare impacts.

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