Emerging Technologies in Healthcare

Medical innovations have seen some notable milestones over the decades, with innovations like the vaccine for smallpox in the 18th century and the invention of antibiotics in the 1920s. Innovations today in the 21st century have been seeing greater progress driven by technological advancements. Technology providers are leveraging the opportunity to innovate in healthcare, spending more than $20 billion per year on research and development, based on a publication by IRIS (Intelligent Retinal Imaging Systems).

New healthcare technologies encompass tools, systems, and devices that enhance health services' efficiency, quality, and delivery, including telemedicine platforms, AI-driven predictive analytics, and wearable health devices. Healthcare providers embracing digital transformation are improving patient outcomes, reducing costs, and increasing their capabilities despite staffing challenges.

Healthcare technology is also making services more accessible, efficient, and cost-effective, enhancing patient care and safety. This, in turn, supports SDG Goal 3: Good Health and Well-being, which aims to ensure healthy lives and promote well-being, aiding global health efforts.

5 advancements in healthcare technology

We’ve rounded up some emerging technologies in healthcare to give you a look at the current innovation landscape:

1. Telemedicine

Telemedicine enables remote diagnosis, monitoring, and treatment through digital technologies like video conferencing, mobile apps, and wearable devices. During the COVID-19 pandemic, telemedicine usage surged as a safe way to provide care while limiting in-person contact and has been adopted widely ever since. Data published by the U.S. Centers for Disease Control and Prevention revealed that 95% of health centers in the U.S. offer telehealth services during the pandemic compared to 43% in 2019. Key benefits include improved access to care, reduced costs, and enhanced patient convenience and comfort.

The next wave of innovation in telehealth focuses on tech that can combat the long-term management of chronic health conditions through more personalized care. This personalization involves transformations in telehealth across the spectrum of remote diagnosis to healthcare professional visitations. As Forbes stated in an article, the combination of telehealth and wearable devices can help deliver more medical services remotely, giving rise to telemedicine 2.0. Virtual hospitals became a popular aspect of telemedicine in 2024, and we're likely to see more innovations.

2. Artificial Intelligence (AI) technologies in healthcare

AI algorithms can analyze vast amounts of data to diagnose, predict disease risk, and optimize treatment plans. A Statista report stated that the AI healthcare market was valued at $11 billion in 2021 and is expected to reach $187 billion by 2030. Machine learning is being used to develop personalized medicine and accelerate drug discovery. For instance, IBM's Watson uses AI to analyze vast amounts of medical literature and patient data, assisting healthcare providers in making evidence-based treatment decisions. It has been used in oncology to recommend personalized treatment options for cancer patients.

Generative AI is expected to be a powerful driver of advancements in the space with applications like improvements in data interpretation, personalized care plans, and the creation of synthetic data to train AI models without any privacy concerns. AI-powered chatbots and virtual nursing assistants will also be crucial to help triage patients and provide 24/7 support. As per McKinsey, GenAI is projected to unlock an industry improvement potential of $1 trillion. 

3. Wearable technology healthcare

Smart patches, drug delivery devices, continuous glucose monitoring (CGM), and biomarker measurement devices are key technologies in the wearable health industry. These devices empower patients to take a more active role in managing their health and provide clinicians with valuable data for preventive care.

As stated in a Capgemini report, medical wearable technology is estimated to grow globally at a CAGR of 14.6% by 2030; a primary driver of this growth is biowearables, a biosensor worn on the arm that measures biomarkers in the body's fluids. This emerging category is a device usually used to help monitor and manage diabetes. 

CGM is a type of biowearable that has witnessed the greatest innovation in recent years, according to the analysis by Capgemini Invent India's Life Sciences team. The device has seen improvements like shorter patient monitoring times, smaller sensors, and better user convenience. For instance, Dexcom G7  was one of the most accurate CGM systems launched, with a 60% smaller all-in-one sensor and 75% quicker than older versions. 

4. Robotics in surgery

According to Grand View Research, the global surgical robots market was estimated at approximately $4 billion in 2023 and is projected to grow at a CAGR of 9.5% from 2024 to 2030.

This growth is fueled by the increasing demand for minimally invasive surgeries and the need for enhanced surgical precision. Robotic surgery, also known as robot-assisted surgery, enables doctors to perform complex procedures with improved accuracy, flexibility, and control compared to traditional methods. Typically, it involves tiny incisions, though surgeons can also use it in open surgeries. A robotic surgery system usually includes a camera arm and mechanical arms with attached surgical instruments, all controlled by the surgeon from a console near the operating table. The surgeon has a magnified, high-definition, 3D view of the surgical site and leads a team assisting during the operation.

Advanced systems like the da Vinci Surgical System have become widely adopted in the healthcare industry. They offer surgeons better skill and precision and reduce invasiveness in procedures. Other systems, such as the Versius Surgical Robotic System, provide various laparoscopic surgery assistance. 

5. Digital twins

Integrating multimodal data from patients and the environment in real time is advancing personalized medicine. Digital twins in healthcare are virtual models of a patient or a particular organ that collect real-time data and offer deep predictive insights that can be highly beneficial during emergencies and for preventive care efforts. The data to create the twin is gathered from sources like electronic health records (EHRs), omics data like genomic and bionic data, and demographic information. A complete patient model is not always necessary; a twin with targeted data like genomic data and digital personal health data can be integrated with AI models to offer personalized medical treatments to patients. 

According to a Markets and Markets report, digital twins in healthcare could be a $21.1 billion industry by 2028. These data-rich digital models will transform lifestyle, wellness, and disease management over the next few years. Apart from health monitoring, these models will also increasingly become crucial for training, research, and education.

What is the future of healthcare technology?

Anticipating healthcare technology trends, it is seen that data is fueling the growth of better AI-enabled health solutions to help create proactive personal and preventive health care. Better and larger volumes of data help improve AI technologies in healthcare through diagnostic accuracy, better care delivery, efficient medical devices, and enhanced services. The Internet of Medical Things (IoMT) and wearable devices will also continue to transform preventive healthcare, with the IoMT market expected to surge to $960.2 billion by 2030, according to Precedence Research. Other exciting emerging technologies for health include virtual and augmented reality, which are revolutionizing medical training and surgical precision. The future will also see broader adoption of blockchain and web 3.0 technology, driving the decentralization of patient data.

These advancements set the stage for a more efficient, personalized, and accessible healthcare system.

Implementing healthcare technology comes with several challenges. Data privacy and security are paramount concerns, especially with the increasing use of AI, machine learning, and blockchain technology. Protecting sensitive patient data while maintaining transparency and accessibility is a delicate balance. Health institutes, tech startups, regulators, and the government must address challenges such as data privacy, integration costs, regulatory hurdles, and resistance to change to ensure the successful adoption of these technologies.

If you want to drive technology-driven solutions in healthcare, you can collaborate with us at Futurize to spearhead innovation and entrepreneurship programs that generate groundbreaking ideas and businesses for a sustainable future. Contact us at hello@futurize.studio.

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