A lot has been spoken about the major transformation of the healthcare industry. While digitization has brought about a major overhaul to the automotive and banking sector, to the consumer goods industry, why should the healthcare industry lag behind? Digital health trends are gradually navigating the way of technology.
It goes without mentioning that the pace of advancement in the healthcare sector will be much slower than in the consumer technology industry. As upgrades to phone models or other electronic gadgets don’t have consequences like life and death, experiments can be done at a rapid pace. Yet the change brought about in the healthcare industry is gradually pushing respective companies to keep up with the speed.
As per data from Statista, the market growth in the digital health industry is anticipated to hit a staggering $670 million by the end of 2025 and there will be a predicted CAGR of 28% between 2020 and 2025! Let’s check out a few identifiable trends in the health care industry.
. Automated data processing via patient-centric LIMS
An LIMS system that is entirely patient-centric is used to automate the processing and operations of data within a laboratory and aggravate its combination with the other connected systems. Thanks to the Laboratory Information Management System (LIMS system), the efficiency of reporting data is improved. It also helps in the future analysis of the data while retaining its high-quality level. This software also assists most laboratories to abide by the several security and quality regulations that come from the ISO (International Organization of Standardization) and the FDA (Food and Drug Administration).
. New business models are being welcomed in the healthcare industry
This is certainly one of the most crucial times for healthcare companies since the ecosystem that had forever refused to digitize, is now opening up and facilitating the move of the industry to accept digital solutions. VBC or Value-based care customized medicine and reimbursement models have the potential to remodel medicine infrastructure and patient care. However, as of now, they need data to give worthy results. The all-inclusive patient data that they produce are crucial for supporting this kind of trend.
. Artificial Intelligence (AI) redesigns healthcare
It is strongly believed that AI or Artificial Intelligence has the ability to revamp the healthcare industry totally. With the help of their algorithms, it is possible to curate treatment plans, extract medical records and make drugs much faster than any medical professional working in the current system. Google’s DeepMind recently designed an AI for the analysis of breast cancer. The AI’s algorithms outshone all combined efforts of human radiologists to recognize breast cancer.
. VR is altering the lives of doctors and patients alike
Virtual Reality (VR) is modifying the lives of doctors and patients at the same time. Within a few years, you may be able to view operations as if you handled the scalpel or you could travel home or to Iceland while you lay on the bed of the hospital. As per a recent report by the Harvard Business Review Study, surgeons trained by Virtual Reality could show a 240% boost in their entire performance as against their old-school counterparts. This technology has also been advantageous for patients and has been effective in the management of pain. Women can arm themselves with VR headsets and view soothing landscapes to bear the labor pain.
. Medical tricorder as the one-stop device for all diseases
As long as gadgets and pressing solutions are concerned, every healthcare professional has a dream of owning that omnipotent or almighty device that could detect every possible disease. What was once seen in Star Trek can now be available in reality, thanks to the aggressive change in healthcare technology. In fact, there is a device called Viatom CheckMe Pro that can measure oxygen saturation, heart rate, ECG, blood pressure, temperature, and much more.
Hence, it goes without mentioning that presently we live in revolutionary times for the healthcare industry with VR, AI, big data, and the LIMS system ruling the horizon. It is our goal to spread information on the recent developments in the healthcare and medicine industry.