It is undeniable that healthcare is an essential industry. With the growing needs of the population and rising technology, there is a demand to innovate and improve the industry’s quality, accessibility, and outcome. To ensure such progress, the healthcare industry is transforming how it utilizes technology to enhance advanced care, prevention, and primary care.
From tracking patients’ vital data using wearables to updating the hospital administration, the last few years have seen the healthcare sector take drastic digital transformations to meet the current needs. Such changes have brought an increased scope of technology in healthcare solutions.
Burgeoning Digital Health
Digital health is gradually becoming commonplace in people’s lives. Including options for digital health has made many devices popular in 2022. Between 2021 and 2028, the market for wearable sensors is estimated to grow at a CAGR of 29.3%, from $660.89 million in 2020 to $5,208.05 million in 2028.
With the option of keeping track of patients’ every movement, such as sleep pattern, heart rate, calorie intake, or period of exercise using wearables or other smart equipment, caregivers get a clear picture of the status of the patients and modify the care plan accordingly. Combined with the IoT, digital medical devices enable patients to view their data on their devices.
The advent of wearable digital health devices has made way for a systematic advancement of personalized healthcare, and it remains a major tool in the medical device trends of 2023. As the digitization process picks up, patients can continue relying on real-time stats and reports to track their progress and contact their medical experts within a few taps of their fingers.
Forward with Predictive Analysis and Data Science
Data science is a rapidly growing industry, and it is not shocking that healthcare analytics forms a considerable part of this. It is expected to go from $3.74 billion in 2019 to $28.77 billion by 2027. Having an option or platform to compress the collected data from the patients, especially those with chronic conditions, can be a challenge to create but immensely beneficial.
The almost-instantaneous improvement in data science and predictive analysis has created this opportunity. Doctors now have better chances at accessing information like gathering information about ancestry and family history and detecting high-risk patients to diagnose problems effectively. The healthcare analytics industry makes it easy for medical professionals to access, monitor, intervene, and provide at the right time.
Artificial Intelligence Everywhere
AI technology has revolutionized the world, and the healthcare industry is no different. With the incorporation of artificial intelligence in the medical industry, there has been a remarkable improvement in diagnostic precision through automatic assistance in the workforce, clinical operation optimization, quantitative imaging, and so much more. The value of AI in the healthcare market might have been around $6.7 billion in 2020, and it is only expected to grow at a CAGR of 41.8% between 2021 and 2028.
When AI-based diagnostics are paired with VR solutions, patients are sure to receive precise treatments, especially for conditions such as speech disorder treatment, stroke, cerebral palsy, Parkinson’s, spinal cord injury, cancer, and MS. Such conditions need to be analyzed more closely to obtain an accurate diagnosis, progression of the condition, and distinct treatment.
Increasing the efficiency of the healthcare industry is in everyone’s best interest. By making way for on-demand healthcare storage, the implementation of cloud computing in healthcare significantly cuts down on expenses while increasing efficiency. With the help of cloud computing technology, it is easier to share medical records, automate backend operations, and even create and maintain telehealth apps.
Compared to the $28.1 billion in 2020, the cloud computing industry in healthcare is expected to reach $64.7 billion by 2025. With the high-powered analytics that cloud computing can support, there are more opportunities for customization in patient care plans, especially when the cloud expands the storage capabilities.
More with VR/AR
Virtual reality and augmented reality have significantly advanced healthcare technologies lately. Undoubtedly, AR and VR have a lot to offer in the healthcare industry and set numerous trends in motion. AR and VR in the global healthcare market are predicted to grow to $42.84 billion at a CAGR of 39.98% by 2028. This means that the technology for training and surgery simulation, patient treatment, and care will rise to newer heights.
VR can also support patients in vision therapy and the management of depression, autism, and cancer. With the data collected in real life and from VR, health experts can better understand the patient’s condition. VR has also proved useful in critical procedure simulations, patient awareness, stroke rehabilitation, motor and non-motor rehabilitation, pain relief, and anxiety reduction in a patient’s lifecycle.
Artificial intelligence, machine learning, virtual reality, augmented reality, and wearable technology has positively impacted healthcare. They will continue to become critical tools that healthcare providers and organizations use to perform more efficiently.