Transforming the MedTech Industry
August 2019 – Transforming the MedTech Industry – why is that the future?
According to a commissioned study of the United Nations, the world population will increase to 10 billion by 2050. 2 out of 5 people will be over 60 years old and 434 million over 80.
This combination of population growth and demographic change will accelerate the challenges for healthcare.
Advances in technology are inevitable. They will encompass the digitization of health and healthcare to social media, the Internet of Medical Things (IoMT), wearables, sensors, big data and artificial intelligence (AI), augmented reality (AR), nanotechnology, robotics and 3D printing . All of this will radically change society and health care, improve networking and break up the structures of health systems.
Future Healthcare IT
The following trends were expected to dominate Healthcare IT :
- Using IT to help achieve patient engagement and experience
- Rising efforts to achieve digital health
- Accelerating the use of AI and data visualization
- Rising importance of population health management
- Growing efforts by payers to provide total care management
- Pressing on toward interoperability
- Pushing to achieve EHR optimization
- Protecting health information and data security
- The rising tide for value-based care
- Growing the role of virtual care
The global Health Inforamtion Technology (HIT) market is estimated to grow from US$ 125 billion in 2015 to US$ 297 billion by 2022.
Internet of Medical Things (IoMT)
The driving innovations in MedTech are wireless technology, miniaturisation and computing power. This will lead to the development of an increasing number of connected medical devices that are able to generate, collect, analyze and transmit data. The data, along with the devices themselves, are creating the Internet of Medical Things (IoMT) – a connected infrastructure of medical devices, software applications and health systems and services.
The overall IoMT market is expected to grow from US$ 41 billion in 2017 to US$ 158 billion by 2022.
Breakthrough healthcare technologies in 2019
- Blood test to predict premature births
- Making it easier to screen for gut disease
- Personalised conacer vaccines
- EKG-enabled smartwatches
- Voice assistants in the clinic
If you have any Medical Devices that you would like to market in Europe, please contact us
The detailed report can be found here