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Healthcare Technology Trends Shaping 2023 And Beyond
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Healthcare Technology Trends Shaping 2023 And Beyond

Healthcare and technology are two of the most powerful forces. And when they come together, they can potentially transform the lives of millions.

Introduction

Healthcare technology or Healthtech is a booming sector that is expected to touch the sky in the next few years. The global medical technology industry’s market size was valued at around 550 billion euros in 2021 and the COVID-19 pandemic has further accelerated the growth of the sector.

The medical technology statistics testify to the increasing need to integrate technology in the healthcare sector to counteract two key trouble spots: quality and efficiency. Today, a doctor sitting in the US can operate on a patient in the Philippines. Hospitals are deploying robots to assist healthcare workers and improve patient care. A few robots are even equipped with Artificial Intelligence to perform minimally invasive surgeries and help surgeons achieve speed and accuracy while performing complex operations.

That time isn’t far away when surgical robots will autonomously perform tasks while surgeons oversee procedures from a console. As innovation continues to see more influx of investment and technological developments continue to advance, we can expect to see some fascinating developments take over our lives and transform how we experience health care. Here are some of the most exciting trends in health tech that will shape 2023 and beyond.

Telemedicine: Telemedicine emerged as a new horizon in the field of healthcare that revolutionized the way health services were provided and received. It allowed medical practitioners to connect with patients through the Internet to provide consultation and diagnosis. It resolved the problem of accessibility of medical care and took healthcare services to underserved areas.

The technology in the patient care sector is getting better and better and is becoming an integral part of every hospital and medical practice. Its ability to jump over geographical constraints is making the trend a major hit among patients and healthcare providers. It has emerged as a huge opportunity for the healthcare industry which has long been suffering from a shortage of healthcare infrastructure and manpower. The industry is constantly expanding and innovating to improve the quality of services, decrease the burden on hospital emergency rooms, and provide a better patient experience.

  • The digital-first approach is giving telemedicine a competitive edge over traditional healthcare systems.
  • Several healthcare startups are entering the telemedicine sector with the aim to reduce the need for in-person visits and boosting the efficiency of the healthcare system.
  • Telemedicine has the potential to: reduce costs, make healthcare accessible, and convenient, and provide quicker access to care.

Artificial Intelligence: AI is dominating the talks in every industry and healthcare is no exception. AI is becoming an indispensable part of the healthcare system as it's helping to identify patterns in patient data and detect the stage or phase of disease at which they are. AI is also able to offer treatment recommendations and medical procedures based on the data collected, helping several patients mitigate expensive treatments and the risk of complications.

Moreover, with the complexity and the rise of data in healthcare, artificial intelligence (AI) will increasingly be used to support healthcare providers in their decision-making. Several types of AI are already mainstream and are set to grow in the coming years. The most common use cases of AI applications involve diagnosis and treatment recommendations, administrative support, and patient engagement and data analysis.

The future of AI in healthcare is limitless due to:

  • Explosion in the amount of health data
  • Rising costs of medical care
  • Increasing need for democratization of access to healthcare
  • Developments in drug discovery and personalized medicine
  • Complexity in administrative tasks, and
  • Need for uplifting patient experience and better healthcare outcomes.

Qentelli helped a healthcare company that addresses spinal pathologies improve precision and prediction during surgical procedures. We created a Machine Learning Framework that can compare the pre-op X-ray reports with post-op X-rays to identify the location of the discs and measure the differences in order to predict the discharge, rehabilitation, and possible readmissions.

Read the full case study here

Wearable Technology: The technology has been around for a few years and has shaken up the healthcare and fitness world. According to a survey, 30 per cent of Americans use wearable health devices. Moreover, smartwatch shipments worldwide are forecast to grow to over 253 million units by 2025. All this data signifies that the popularity of healthcare gadgets amongst the masses is high and the industry will continue to develop and increase investment.

With its potential to provide granular data, wearable devices are empowering patients and healthcare providers with better decision-making capabilities. The actionable insights are helping people make lifestyle changes and manage a variety of health conditions, well in time. Wearable technology in healthcare has enabled patients to take control of their health and render reports to their doctors, health providers, insurers and other relevant parties whenever required. Wearable devices like fitness trackers, smart watches, ECG monitors, blood pressure monitors and biosensors are increasingly becoming a part of the healthcare ecosystem.

These portable, fist-size devices are advancing in design and technology and attracting patients, caregivers, and investors alike. With its growing demand and adoption, life science companies are constantly innovating and working on new solutions to make products more effective and user-friendly.

Recently developed gadgets have scope for improvement in terms of the accuracy and reliability of the data they produce. 2023 will be a very exciting year for this with tech scientists and healthcare tech companies developing new ways of monitoring and achieving better results in medical appliances. The healthcare wearable gadgets market is set to grow due to increased interest and demand from end-users. And in the near future, we’ll see new and enhanced wearables that target people from all walks of life.

Blockchain: Blockchain is an emerging technology that has been hailed as the most promising solution to the problem of data integrity. Blockchain technology is playing a pivotal role in logging, storing, and exchanging patient data through hospitals, laboratories, pharmacy firms, and medical practitioners. Blockchain networks are enabling the creation of a digital ledger of transactions that have improved the performance, security, and transparency of recording and sharing medical data in the healthcare system. For a long time, the healthcare sector has been plagued by data and information management challenges. Here, blockchain has been a game-changer in improving data efficiency and handling deception in clinical trials. The technology is mitigating the fear of data manipulation and supports a unique data storage pattern at the highest level of security. It provides versatility, interconnection, accountability, and authentication for data access. Data privacy and security are major concerns in the healthcare sector as patient health records and reports are highly sensitive and confidential. 2023 will see a significant rise in blockchain technology implementation for the decentralised protection of data in healthcare.

Cloud Computing: The healthcare sector is drawing the benefits of the technology to make better use of its data and provide better care to patients. The stunning features of Cloud computing like collaboration, reachability, efficiency, availability, and security have made it the go-to technology in the healthcare industry. For a long time, the industry has been struggling with the problem of storage and scalability. The rise of Big Data in healthcare has further complicated the issue. Now, with Cloud Computing at its disposal, healthcare organizations can store and manage data in a secure and cost-effective manner which has opened up a host of opportunities for life science and healthcare companies. As per Global Markets Insights Inc., the healthcare cloud computing market will be worth $55 billion by 2025. The growth is expected to be driven by on-demand availability, reliability, and internet-based services. With a multitude of benefits of Cloud Computing in healthcare, the industry is experiencing a paradigm shift in its operations and processes.

3D Printing: The technology has been in the healthcare sector for a while now and has been used to create tissues and organoids, surgical tools, patient-specific surgical models and custom-made prosthetics. New tools and advancements in technology are bringing doctors and researchers closer to their goal of developing customized devices, unique to the needs of each patient, for improved patient care. With the rise in personalized, precision medicine, 2023 and beyond will see advances in medical 3D printing technology and the use of these technologies for improving the accuracy and efficiency of surgeries.

Closing thoughts...

Overall, with the growing demand for accessible, affordable and effective healthcare, technological innovations in the healthcare system will be at the forefront of the changing landscape. 2023 and beyond will see growth in personalized services and integrated health information systems which will be powered by AI and a mix of emerging technologies. These trends will continue to catch on and become more mainstream. Technology will also be a key enabler in patient privacy, data security, drug research, and medical device innovation.

The trends will play a significant role in improving the quality of patient care, reducing the cost of healthcare, and improving patient experience. The observers of the future of health tech are keeping a close watch on these trends and how they are playing out. Their performance will be critical in achieving cost-efficient, high-quality patient care and building scalable healthcare technology.

Get In Touch

If you are interested in learning more about health tech innovations, Qentelli can help. For more information, please drop an email at info@qentelli.com. We look forward to connecting with you.