The development of the health tech industry
What is one of the most dynamic market fields which are top of the priority right now? Of course, it is HealthTech. Health, in general, is now something the most important in our lives, all over the world. We all try to work on it to make better results in less time due to our health conditions. But what HealthTech exactly is and how it is improved? Let’s find out and learn more about it.
HealthTech is also called as a digital health or healthcare technology. It is a vertical market (sometimes also called industry vertical) in the healthcare sector. HealthTech is the use of technology to improve the quality of different aspects of care like payment or delivery. The main purpose of it is to increase the commercialization and development of care and medical products. By using technology healthcare can provide patients faster and with lower costs. Their care services can be also more accessible and many more people can use the help. HealthTech includes all healthcare services and products which are delivered outside the hospitals, clinics, or doctors’ offices using new technologies.
There is another term that can be easily mistaken with digital health. It is a MedTech. So, what are the differences between these two concepts? MedTech is focusing on medical devices and therapeutic technologies that treat already existing medical problems. This term is also used for detecting health conditions during in-hospital care. While HealthTech is more focused on improving personal and preventative care.
There can be specified three ways of how technology is transforming digital healthcare. The first one is Artificial intelligence (AI) which is one of the most expansive parts of new technology now – it is almost everywhere. It is broadly used to collect data and make some operations on them like for example planning budgets. It is said that in the future when AI technology will be more developed it could be used to better and quicker diagnoses such diseases like stroke, skin cancer, as well as health or eye problems.
The second way how technology is transforming HealthTech is 3D printing. This method has a big history and it is improved a long time now. Due to healthcare 3D printing can be used for example to make prototypes much faster and with no restrictions. It can be personalized prosthetics as well as polypills. It could be also used to organ transplantation and to produce realistic skin for burn victims.
The third one is Virtual Reality (VR). It sounds a little bit crazy because normally we associate that with pure entertainment. The multi-sensory experience provided by VR can be helpful not only for patients but also for health workers. For this first, it can be helpful for therapy and rehabilitation for example for anxiety disorders. For the second group, it can be used to train surgeons and make low-risk simulated environments.
Traditional, provided-based healthcare is not enough nowadays. This is a field which – especially in such hard times like the world pandemic – should be highly developed. Innovation in HealthTech can be very useful for people around the world and make healthcare more accessible, faster, and better.