Top 5 Healthcare Technology Trends To Watch In 2023

Top 5 Healthcare Technology Trends To Watch In 2023 - Daily Healthcare Facts

The healthcare business is preparing to make additional investments in the next 4-5 years, with the goal of increasing the workforce and investing in digital healthcare technology trends. In the age of digitalization, we strive to make our lives easier and more efficient. Now is the time to showcase some of the best digital foundations that can revolutionize the healthcare system and how we used to see it.

Here are the top 5 healthcare technology trends to watch in 2023;

1. Digital Prescription And Electronic Health Records (EHR)

The use of electronic prescriptions is predicted to increase by 2023. Digital Prescription is transforming the healthcare landscape as practitioners focus on developing e-Rx using digital technologies, which benefits all stakeholders. The market for electronic health records is expected to reach USD 31.5 billion by 2030. EHR improves patient privacy and security, increases efficiency, reduces medical errors, and provides safer care, among other benefits. Data saved in the EHR system can also aid in the automation of processes and decision-making.

Top 5 Healthcare Technology Trends To Watch In 2023 - Daily Healthcare Facts

This is commonly used to keep a patient’s records, which include patient history, test results, any specific allergies, and so on. An electronic health record is designed in such a way that, in addition to storing all records digitally, it may also provide patients with access to evidence-based tools that allow their doctors to take appropriate action. This has already begun to be implemented as the healthcare technology trend, and the way people have responded to it has resulted in a market size of $37 billion, which is predicted to grow to $50 billion in the next four years.

Epic (34 percent market share), Cerner (23 percent market share), MEDITECH (14.6 percent market share), and others are among the industry’s titans. Furthermore, an electronic health record has the potential to lower operating costs while also increasing customer (patient) active engagement. The way IoMT is expanding, it will soon become a basic need for every individual, raising health awareness and preventing any unintentional occurrences.

2. Internet of Medical Things (IoMT)

You’ve probably heard of IoT, but IoMT is a slightly different concept that connects healthcare devices to the Internet as well as the applications that run on them. Previously, when pandemics made practically every sector difficult, IoMT entered the mainstream, assisting not only in monitoring patients infected with COVID, but also in making follow-ups for post-recovery patients on a vast scale. IoMT is a new healthcare technology trend to watch in 2023.

Top 5 Healthcare Technology Trends To Watch In 2023 - Daily Healthcare Facts

The IoMT design enables critical phases such as patient live monitoring, screening, remote monitoring, and telehealth treatment (the use of digital information and communication technologies, to remotely access healthcare services). Aside from that, the future is bright for IoMT, with the market currently valued at $50 billion and predicted to exceed $180 billion in the next 5-6 years (at a CAGR of 30 percent ). Thanks to the great innovators and companies who have worked relentlessly to make it run smoothly and with little or no error.

3. Virtual Reality (VR)

Virtual reality has been a popular healthcare technology trend for some time now, and it has shown to be a lifesaver by providing new life-saving procedures to aid in therapy. Although this profession is relatively new, it has had a significant positive impact on both patients and clinicians. Currently, a few businesses (Osso VR and Immersive Touch) are providing to train doctors/surgeons to brush up on their abilities and practice innovative techniques of treatment, and another report claimed that virtual reality has enabled a +200% increase in performance over traditional methods.

As a result, VR is capable of eliminating the margin of error and could be a valuable asset for learning healthcare technology trends. This is only one of the applications for VR; it can also be used for hosting conferences, treating patients in a novel way by providing them with VR-rich therapies, and so on. However, the market is accepting VR positively and has been steadily expanding, with the market expected to grow from USD $6 billion in 2020 to USD $21 billion in the next four years (2025).

4. Artificial Intelligence (AI)

In 2020, the global AI market in healthcare was estimated to be worth USD 6.7 billion. AI is an amazing healthcare technology trend to watch in 2023. Furthermore, it is predicted to grow at a CAGR of 41.8 percent between 2021 and 2028. AI provides an opportunity to transform the healthcare industry in order to better serve stakeholders. AI, Machine Learning (ML), Natural Language Processing (NLP), and robotics have significant potential in healthcare.

Without a doubt, AI-supported medical imaging analysis, AI-enabled medicine cost reduction, AI-based mental health treatment, and AI for cancer diagnosis, Machine Learning in Biopharma and Medtech, symptom checker chatbots, robotics to automate hospital workflows, and adoption of AI-backed technologies by healthcare hackers can do wonders for the HealthTech industry.

5. Smart Wearable Devices

We have seen how adversely the COVID-19 outburst has affected people over the last few years. When businesses were compelled to do their work remotely, people grew more health-conscious, which resulted in the instant whoop of smart healthcare wearable gadgets to keep themselves active to monitor on a daily basis. Apart from that, there has been a continual advancement in technology so that wearable devices may collect all useful data and keep track of all records (in real-time) to provide an evaluation.

Top 5 Healthcare Technology Trends To Watch In 2023 - Daily Healthcare Facts

Certain gadgets can monitor heart rate, blood pressure, blood oxygen, GPS, mobility, and other vital signs, allowing for the early discovery of any significant medical problem. The smart wearable device market is predicted to grow from USD $116 billion to USD $265 billion in the coming years (2021-2026). In the following years, we will most certainly witness how wearable gadgets might enable physiological monitoring during clinical trials (for example, in the event of novel drug development) and early detection of any irregularities.

Final Thoughts

The epidemic has clearly pushed the digitization of healthcare technology trends. Telemedicine, personalized medicine, genomics, and wearables will continue to rise, with organizers combining artificial intelligence (AI), cloud computing, extended reality (XR), and the internet of things (IoT) to develop and provide novel treatments and services.

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