Digital Health Trends
The use of online means to deliver personalized, efficient, accessible, and preventive healthcare is set to drive the digital healthcare field's market share to $206 billion by the end of the year. This article by CES examines some of the biggest digital medical trends in 2020.
Big Data
The ability to collect and analyze large amounts of data is called big data. Its use in medicine can provide valuable insights in the healthcare field. Some of the most practical medical applications of big data include the following:
- Electronic healthcare records that digitally connect with patients for improved patient care
- Improve healthcare staffing based on data that allows for the educated and efficient dispersal of staff.
Artificial Intelligence
Artificial intelligence, driven by cloud computing, is overtaking the healthcare industry. When it comes to AI, there are a number of practical implications, including the following:
- Diagnosis of diseases
- Drug creation and implementation
- Analysis of big data
- Healthcare collaboration
- Deep learning that allows for the identification of disease patterns
Internet of Medical Things (IoMT)
The rise of connected devices that can support patient health is expected to grow to more than $136 billion by 2021. IoMT consists primarily of wearable devices that assist with the monitoring of health concerns.
The use of wearables should grow over the next few years as their ability to accurately and cost-effectively communicate vital information to doctors and cut down on costly doctor visits continues to improve. The IoMT also has promising applications in geriatrics, where patients can benefit from appointment reminders, cost-effective support, and check-ins from providers.
Telemedicine
Today, virtual provider appointments have the potential to provide patients with accurate, convenient healthcare and to open up healthcare access to remote areas. The key is for technological connections and insurance reimbursement laws to continue to improve. Telemedicine includes everything from virtual appointments to remote medical monitoring and data storage as providers use virtual means to remotely manage their patients' care.
VR and AR in Healthcare
In the healthcare industry, virtual and augmented reality provide a way for providers to diagnose illnesses and for surgeons to interact with data or conduct dry runs of critical procedures. VR and AR may also be used more broadly to alleviate pain, ease psychological distress, and manage mental health problems in patients.
Blockchain
The blockchain, originally used in crypto currency, is finding its place in healthcare. One of its major applications is in simplifying the sharing of critical patient data across healthcare providers without violating privacy regulations. The blockchain can also benefit the field of clinical research in order to more effectively communicate the results of this research to interested parties and to create a more transparent drug supply chain.
The future is promising for digital health, and for those who choose to invest in it. Tech businesses such as Google, for example, are beginning to expand their influence in the healthcare realm, opening up new possibilities for digital health, while AI and big data promise huge leaps in healthcare.
Check out our ideas for investing in various healthcare themes.