Thanks to the rapid technological evolution, the digital healthcare revolution has made the industry unfold at an unfathomable pace. Statista reveals that the digital health market should reach nearly 660 billion dollars by 2025. The pandemic has made the world realize the need to capitalize on technology for revamping the healthcare segment even more. Technological advancements that can accelerate patients’ experiences, clinical efficiency, and virtual care are far more critical than ever. Like every other industry, the digital-first mindset is set to transform the health industry radically. This blog explores the hot technology trends and healthcare transformations that have taken center stage in 2022.
The global IoMT market is expected to swell to a $158 billion valuation in 2022. Wearables, sensor-enabled devices, and trackers have become a crucial part of healthcare for their game-changing advantages. IoMT is burgeoning as it can improve mHealth, real-time and remote patient monitoring, patient engagement, clinician workflows, drug management, health outcomes, remote medical assistance, adherence to physician’s orders, and more.
Mixed reality has become a new trend in healthcare in 2022. Empowering healthcare stakeholders can reimagine the industry by improving diagnosis, personalization, and outcomes. It has massive potential as it facilitates interaction with real and digital objects. Mixed reality looks promising in reimagining healthcare as it mixes the elements of VR with the human vision that can empower care teams and enhance the patient experience. VR and AR are poised to take HealthTech to new horizons in 2022.
DTx market size to reach USD 13.80 billion by 2027 at a CAGR of 20.5%. Healthcare providers leverage DTx to deliver medical care and evidence-based therapeutics to patients. It enables healthcare stakeholders with smart tools for addressing various conditions through data-driven interventions. Combining technology and evidence-based medicine can revolutionize personalized patient care and help clinicians in helping patients adhere to treatment regimens, which can eventually improve patient outcomes. It looks promising in mental health and substance abuse, diabetes, obesity, cardiovascular disease, central nervous system disease, respiratory disease, smoking cessation, gastrointestinal disorder, and many others.
Global AI's size in the healthcare market was valued at USD 6.7 billion in 2020. Moreover, it is expected to expand at a CAGR of 41.8% from 2021 to 2028. AI presents an opportunity to evolve the healthcare industry to serve the stakeholders better. The potential for AI, Machine Learning (ML), Natural Language Processing (NLP), and robotics in healthcare is enormous. Undoubtedly, AI-supported medical imaging analysis, AI-enabled medicine cost reduction, AI-based mental health treatment, and AI for diagnosing cancer, Machine Learning in Biopharma and Medtech, symptom checker chatbots, robotics to automate hospital workflows, and adoption of AI-backed technologies by hackers targeting healthcare can do wonders in the HealthTech.
The year 2022 is expected to see an upsurge in the use of electronic prescriptions. Digital Prescription is revolutionizing the healthcare landscape as the practitioners focus on creating e-Rx using digital software, which is beneficial for all the stakeholders. Electronic health records market to hit USD 31.5 Bn by 2030. EHR provides accurate and shareable information, improves privacy and security of patients, enhances efficiency, decreases medical errors, gives safer care, etc. The data stored in the EHR system can further help in automating processes and decision-making. A HealthITAnswers article had the most powerful insights from the critical personas on HealthTech in 2022. Here are some.
Clinical trial sponsors will increasingly rely on radiomics, the science of advanced imaging analytics, to enrich and inform clinical trials strategies, leading to deeper insights into patient populations. Using AI and machine learning to extract new types of data from traditional images such as CT and PET scans, radiomics enables researchers to develop more quantitative and robust inclusion and exclusion criteria and predict patient outcomes. Additionally, radiomics offers tools to objectively quantify the features of tumors and lesions predictive of future biological behavior, enabling an earlier understanding of a disease’s likely path of progression.
Looking ahead to 2022, we expect that the continuation of both a tight labor market and cost containment measures will make intelligent process automation and leveraged staff augmentation key alternatives for the provider community. More hospitals and health systems dealing with severe staff shortages will look to automate previously manual services to cut costs and remain competitive. Additionally, workforce performance management, gamification, and other non-traditional tools will play a larger role in managing remote workforces that are not physically connected to the organization. This will be incredibly impactful for administrative positions at hospitals, such as in the IT and revenue cycle departments.
Pharma and the life sciences will continue to seek artificial intelligence (AI) and machine learning (ML) technologies that help them solve data challenges from bench to bedside more quickly. Look for organizations to embrace new cloud-based approaches for tools like natural language processing (NLP) that can be easily plugged into data scientists’ existing workflows without requiring implementing an enterprise solution. Companies require agile tools that can be built into existing processes to find the answers they need—and don’t have months or years to implement potentially cumbersome enterprise software. With a cloud-first strategy, AI and ML technologies escalate drug discovery and development because data scientists can rapidly find answers for specific tasks or multiple issues across the organization.
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