Just as necessity is the mother of invention, the recent rush of digital advancement across the Healthcare and Medical Technology sector these past few years can be traced back to the COVID-19 pandemic.
When traditional in-office visits were no longer advisable, or even possible, telehealth solutions leveraging internet-based devices provided a way for doctors to still be able to track their patients’ health. The use of telehealth solutions more than doubled as a result.
The growing prevalence of chronic diseases and the growing number of patients managing their own healthcare have both further accelerated digital advancement.
Portable wearable devices are enabling physicians to remotely monitor a patient’s blood pressure, heart rate, blood sugar levels, oxygen saturation, and other parameters related to their specific medical condition.
New diagnostic applications that leverage the power of artificial intelligence (AI) and machine learning (ML) are creating new opportunities and advancement in the Medical Technology space, attracting a new generation of entrepreneurs. Collectively, these events have propelled digital health utilization to new heights, creating both challenges and opportunities throughout the industry with the expectation of lasting impact.
The rapid and ongoing digitization in Medtech, Life Sciences, and Healthcare will drive significant advancements across virtually all aspects of healthcare, creating the potential for the industry to deliver better health outcomes more often, for more people, more efficiently. But realizing such benefits will require equally widespread transformation, particularly to enable and improve operational agility and to embrace the critical and pivotal role data now holds.
In this paper, we will provide insights that will shed light on the future of increasingly digitized healthcare in areas such as medical software development, digital health platforms, healthcare information exchanges (HIEs), internet of medical things (IoMT) and smart healthcare systems, telehealth, and health data intelligence and diagnostics (HDID).