Many technology companies have used their expertise to solve issues caused by the coronavirus pandemic over the last two years, with healthcare companies also shifting their focus to technology and its potential to change how products and services are delivered. The global pandemic has sped up the digitization of the healthcare industry, with data from HIMSS Future of Healthcare Report showing that more than 75% of healthcare providers plan to increase their investment in digital solutions and technology over the next five years.
This means that we will see growth in many areas, including wearables, genomics, personalized medicine and telemedicine, with organizers using cloud computing, artificial intelligence (“AI”), the internet of things (“IoT”) and extender reality to deliver and develop new services and treatments.
Below is a forecast of some of the major trends that will influence the healthcare industry this year.
Extended reality for treatment
Extended reality encompasses mixed reality, augmented reality and virtual reality, which all involve headsets or lenses used to alter an individual’s perception of the world. Extended reality has the potential to transform various applications in the healthcare sector. For instance, virtual reality can be used as part of therapy to train autistic children in coping and social skills. It can also be used to facilitate cognitive behavioral therapy to assist with anxiety and chronic pain.
Telemedicine and remote healthcare
Data shows that remote healthcare consultations conducted during the first months of the coronavirus pandemic rose to about 43%, with analysts expecting this number to continue increasing. The use of remote healthcare can expand access to medical treatment, especially in remote places and regions where there are shortages of doctors or in areas where populations don’t have access to essential services. Companies such as RYAH Group Inc. (CSE: RYAH) are coming up with innovative products and technologies that could accelerate the rate at which the uptake of telemedicine takes place.
Machine learning and AI
AI is expected to significantly improve data capture and analysis in the healthcare sector, as well as free up physicians’ time for more valuable work through the automation of initial patient contact and triage, among other applications.
Genomics and personalized medicine
For the longest time, treatments and medications have been developed to treat individuals on a one-size-fits-all basis. However, the use of modern technology, including AI and genomics, allows a personalized approach to be used in drug development, which gives rise to treatments that can be tailored to an individual.
For instance, Novo Nordisk, a drug-development company, is collaborating with Glooko, a digital health entity, to develop personalized monitoring tools for diabetes that offer recommendations to an individual for exercise, diet and disease management based on factors specific to the individual.
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