The healthcare sector is currently changing rapidly and goes beyond merely patient care. Nowadays, the focus is on the whole health and long-term well-being of patients, doctors, medical staff, and the general public. Instead of just treating illness, a focus on value-based care and preventive healthcare is becoming more prevalent. The future of healthcare is in digital transformation driven by technology. Disease prevention, early detection with cutting-edge instruments, and rigorous post-illness monitoring and care are all given significant weight. Using a holistic approach, healthcare now promotes patients’ physical, social, mental, and emotional well-being.
The epidemic and its aftermath have transformed the dynamics of healthcare. People are becoming increasingly aware of holistic health all around the world. Due to the epidemic, the general public is spending money on medical equipment to track their health and make plans for a healthy future. To meet people’s expanding needs, the healthcare sector’s organisations need a lot of updating.
The implementation of structural and technical innovations is accelerating the digitalization of the healthcare sector, which has the potential to benefit the entire population.
Businesses are prioritising and innovating in the following areas:
- Machine intelligence
- Analytics of Data
- Modernization of cyber security applications
- The Cloud Platforms
- Hyper-automation
And as 2023 slowly approaches, we have identified the key trends that will influence the healthcare software development and life sciences sectors going forward.
- Machine Intelligence
The market for artificial intelligence (AI) in healthcare is anticipated to expand at a CAGR of 45% between 2023 and 2033.
Computers that can learn, think, perform activities, and even make decisions are referred to as artificial intelligence (AI) systems.
The amount of information coming from wearables and electronic health records (EHR) is enormous. Companies in the life sciences and healthcare use AI to make use of this data. Together with assuring regulatory compliance, it can help with research development, patient treatment planning that is tailored to each individual, and drug efficacy enhancement.
- The development of remote care and telemedicine
Revenue from remote healthcare is anticipated to total USD 24.74 billion in 2029. To make it commonplace, health systems are prepared to accept telemedicine and remote care.
A mobile device or digital wearable that continuously tracks a patient’s health outside of a medical facility eases the burden on hospitals and their personnel, increases the effectiveness of treatment, and lets care providers keep tabs on daily patient medical updates.
- Increasing Cybersecurity Investment
The healthcare cybersecurity market is anticipated to reach $15.25 billion by 2028 and increase at a rate of 18.1% between 2022 and 2028.
Cybercriminals have been paying attention to medical data and confidential clinical software solutions. Electronic medical records, applications, wearables, lab tests, and prescriptions all produce large amounts of data, and this number is only going up. Enterprises must protect this data and make sure that its privacy is not jeopardised. As a result, businesses are working harder to safeguard the security of digital and health data.
- IoMT Adoption
In 2028, it is anticipated that the global market for the Internet of Medical Things (IoMT) will reach $187.60 billion.
Even if the IoMT was already popular in 2023, this industry will be broadening its scope in the years to come. The Internet of Medical Things is a network of wirelessly connected hardware, software, systems, and other technological advancements that gather, process, monitor, and analyse data in real time.
IoMT Applications Include:
- sensors and trackers for medical equipment
- Wearable technology
- hospital health monitoring devices
- smart pills for monitoring inside organs in real-time
- Hyper-Automation
According to a poll by Gartner, organisations would invest 34% more in hyper-automation technology in 2023 than they did in 2022 (25%).
Healthcare and life sciences organisations intend to use hyper-automation for quality control and regulatory compliance, according to industry reports. The COVID-19 crisis highlighted the challenges of a skills gap and operational issues in the healthcare sector. It can be chaotic and error-prone to meet the rising demands of gathering trustworthy data more quickly from multiple sources, analysing it, and providing health outcomes. Hyper-automation technologies make it easier to automate manual procedures, improve healthcare operations, and enhance the patient experience in order to meet these difficulties.