6 Healthcare technology trends in 2023
Feb 22, 2023
The healthcare industry has always been at the forefront of technological advancements, and this trend is set to continue in 2023. Statista reports that the Medical Technology market is estimated to reach a revenue of US$612.50 billion in 2023 and expected to demonstrate an annual growth rate (CAGR 2023–2027) of 4.91%.
Revenue in the Medical Technology market, in bn US$, 2016–2027. Resource: https://www.statista.com/outlook/hmo/medical-technology/worldwide
We have compiled a list of some of the key healthcare technology trends that are expected to shape the industry in the years ahead:
Telemedicine. With the rise of remote work and virtual consultations, telemedicine has become an essential tool for healthcare providers. This trend is expected to continue in 2023, with more patients opting for telemedicine consultations and remote monitoring.
Artificial Intelligence (AI). One of the significant trends in digital health is the rapid advancement of AI and ML. According to Residence Research, the global AI-in-healthcare market is expected to reach $20.65 billion in 2023, with an annual growth rate of 37% from 2022 to 2030. This growth is being driven by the top use cases for AI in healthcare, including drug discovery, medical image analysis, diseases diagnostics, prediction of patient outcomes and preventive medicine.
Wearable technology. Wearables like fitness trackers and smartwatches have become increasingly popular in recent years. In the next few years, wearable technology is expected to take on a more significant role in healthcare, with the potential to monitor vital signs, track medication adherence, and even detect early signs of disease.
Blockchain technology is gaining traction in the healthcare industry, with the potential to improve data security and interoperability. In 2023, we can expect to see more healthcare organizations adopt blockchain technology to securely store and share patient data.
Virtual communities are set to become a vital component of patient care, enabling patients to connect with healthcare professionals and fellow patients to exchange health information through online platforms. As traditional healthcare channels become increasingly challenging to access, virtual communities will emerge as an essential means of providing comprehensive care for patients, in the coming years.
3D printing has already made a significant impact in the medical industry, with the ability to create custom prosthetics, implants, and even human tissue. In 2023, there will be further advancements in 3D printing technology, which could potentially revolutionize the field of regenerative medicine.
These are just a few of the health technology trends that are expected to shape the industry in coming years. As technology continues to evolve, we can expect to see more innovative solutions that improve patient care, increase efficiency, and reduce costs for healthcare providers.
CMO (Chief Marketing Officer)