Medical technology evolves at a rapid rate and, as such, trends come and go. Here we explore seven trends in the medtech field that appear to have true staying power.
Virtual reality is finding its way into many different industries and the healthcare industry is no exception. One of the biggest uses for VR has recently come from the world of physical therapy. Patients use VR headsets, hand grips and leg sensors to work their way through video games that help to build range of motion and strength for injured individuals.
Electronic Medical Records
“Electronic Medical Records are more than just having patients’ records available in digital format. Not only do they ensure that providers have all patient records immediately available to them, but the records in an electronic format open the door for providers across all systems of care to communicate and share that information. This ensures that whoever is treating the patient at any given moment has all of the patient’s medical history at their fingertips.”
There has been an increased focus on Cybersecurity in nearly every business, but it is of particular importance in the medical technology field. Not only is there a need to protect designs and innovations, many medical technology companies deal with a large volume of patient data as well. Ensuring the protection of proprietary information will be a major focus of medical technology companies in 2020.
Technology moves very quickly, which requires constant innovation. Many products have a short shelf life and are overtaken by more advanced products faster than in any other industry. This puts the onus on long-term innovation focused on filling a niche need in the medical industry. Rather than making something that is useful now, many medical technology companies will be focused on solving major health issues over the long-term.
Partnerships And Acquisitions
One trend that is sure to continue is the merging of large health related companies in the insurance, pharmaceutical, retail and medical technology fields. CVS acquiring Aetna is just the beginning. Medical technology companies looking to partner with health care providers and acquiring retail space to exclusively sell their products appears to be the next step.
Wearable technology is everywhere these days and many of the most popular products track and monitor activity levels and vital signs. The refinement and advancement of these types of technology will be at the forefront of the medical technology industry for many years to come. Accuracy, comfort and versatility will be what separates competing brands in the wearable tech space.
With the amount of data being collected through wearable devices, medical surveys and experimentation, big data is sure to become a major part of digital medical technology. Finding efficient ways of compiling and analyzing large amounts of data will help to spur new products and innovation. The use of big data will help to identify trends, risks as well as the wants of target consumers.