Investing In Healthcare Technology and Innovation
Innovation across technology, including advances in the fields of robotics, machine intelligence, and life sciences, is poised to transform the healthcare landscape. Businesses set to benefit from these changes are those who can take advantage of technological advancements to deliver better healthcare less expensively.
Trends in the Growth of Healthcare
Despite healthcare's already well-established presence in the global market, spending in this industry continues to increase and is set to reach $18 trillion in global spending in the next 20 years. Several trends around the meteoric growth in spending the concerned rise in healthcare costs should drive change in the industry:
Preventative Care
Healthcare companies are beginning to recognize the value in preventing illness rather than treating it, meaning technologies such as remote patient monitoring, could benefit the healthcare field in the near future.
Automation
A focus on safety and productivity, combined with a lack of qualified physicians to meet demand, is leading to an uptick in the use of automation in healthcare.
Customization
Providing the same care in the same way to everyone regardless of their individual needs is not only less effective but also potentially dangerous for patients. Technologies that allow for more customized treatment, therefore, can benefit the entire medical community.
Digitization
Technology that advances lower costs and greater productivity for healthcare has the potential to improve the industry's overall success--And the success of its patients.
Technology-driven support for these trends includes robotics, early-diagnostic tools, telehealth, AI advancements, and more. Each of these technologies, and more, have the potential to disrupt the current healthcare field and improve the care and lower the costs that patients experience.
In addition, all of these innovations are still in their early stages, leaving exciting potential for growth, disruption, and improvement throughout healthcare, and creating promising opportunities for investors.
If you're interested in investing in the innovative healthcare industry, check out these funds.