Healthcare, without a doubt, is an industry that affects each and every one of us. As the world grows with technology, we expect to witness health care technology trends and breakthroughs making their way into the spotlight in 2024.
If we let the numbers talk, the health tech market size hit $200 billion in 2022, and it’s expected to soar to a staggering $1069.13 billion by 2032. Based on this forecast, the CAGR is set to grow by 18.30% from 2023 to 2032.
What does this mean for the future of healthcare organizations? It means that we’re in for a treat for years to come. If you’re waiting for the perfect time to develop your healthcare app, the time is now.
To give you ideas on which healthcare technology is worth your investment, let’s see the top ten healthcare tech trends making waves this 2024!
Key Takeaways:
- Massive AI adoption to provide automated data management, improved diagnostics through medical image analysis, and advancements in drug discovery.
- Extended reality (AR, VR, and mixed reality) brings innovation by enabling remote rehabilitation and providing specific treatments like VR therapy for PTSD.
- Telemedicine solutions are becoming mainstream, with virtual conversations with healthcare professionals becoming increasingly common.
- Medical institutions increase investments in data security to enforce stricter regulatory measures.
- Healthcare procurement is undergoing significant sustainability transformation with a focus on green practices, digital solutions, and expanding access to sustainable healthcare models.
AI Adoption in the Healthcare Industry
Healthcare is catching up with the Artificial Intelligence (AI) trend faster than a heartbeat (no pun intended). In 2024, we’ll witness its massive integration into the industry!
Speaking of hearts, AI has its sights set on them, particularly regarding cardiac ultrasound. It does a complete 3D quantification and modeling of the heart, even handling automated measurements. This way, sonographers can get and analyze images correctly, while clinicians can deliver superior and more efficient cardiac care.
AI also plays a significant role in improving the overall efficiency of how our healthcare professionals work. Here are some aspects in which AI is set to be implemented in 2024:
Automating data management
AI systems address healthcare challenges with automated data management, including document processing, electronic health records (EHRs), and medical imaging, among many others.
Using AI algorithms, analyzing EHR data can uncover patterns and trends, which can help healthcare providers streamline workflows, improve documentation accuracy, and make smarter clinical decisions. For instance, Epic EHR, one of the top Electronic Health Records software systems, has integrated AI into its software using Microsoft’s Azure OpenAI service.
Moreover, healthcare leaders recognize the potential of generative AI in alleviating administrative burdens on staff and improving operational efficiencies, as revealed by a survey conducted by Bain & Company. Exciting applications, such as automated documentation and summarization of patient visits, can liberate physicians’ time to concentrate on more valuable tasks.
Diagnostics
Diagnostics are getting better, all thanks to AI! It has the power to analyze medical images like X-rays, CT scans, and pathology slides, leading to more accurate diagnoses. Even projects use artificial intelligence to detect cancer through Whole Slide Image Analysis.
Using AI for scan processing is a huge achievement. Take COVID-19 imaging, for example. It’s a deep learning model that automatically detects COVID-19 patterns on CT scans. Then, there’s the Microsoft-backed InnerEye research project, which shows great promise for computed tomography scan processing.
Since healthcare relies on critical decisions, many advanced healthcare organizations use AI as a supplementary tool, complementing existing diagnoses and enhancing research data collected through traditional means.
Discovering new drugs
Discovering new drugs is also something the industry will be exploring with the help of artificial intelligence. By keeping up with technology trends in healthcare, they aim to make significant advancements by 2024.
One incredible breakthrough in this field is AlphaFold2 by DeepMind. It has achieved an impressive level of accuracy and is now openly available via Google Colab. The latest version of AlphaFold uses a machine learning approach that combines physical and biological knowledge about protein structure.
Another example is DeepAffinity, a semi-supervised model that combines recurrent and convolutional neural networks to predict the binding affinity between a drug and target sequences. The model utilizes labeled and unlabeled data to encode molecular representations based on structurally annotated protein sequences.
Innovations in Mental Health Technology
It’s remarkable how accessible mental health support has become on electronic devices, revolutionizing the way we seek help compared to previous decades. Well, in 2024, we’ll witness one of the top healthcare technology trends, particularly in the realm of mental health care.
Finding the right balance between care quality, clinical science, and tech entrepreneurship can be quite a challenge. However, telepsychiatry has shown great potential for growth and improvement. In fact, a review from 2016 found that both clients and medical professionals reported high levels of satisfaction with telepsychiatry.
Plus, some patients feel more comfortable opening up from the coziness of their own home.
Mental health services also extend to apps these days. Breathhh is one of them—it’s an AI-driven Chrome extension that automatically gives you mental health exercises based on your web activity and online behaviors. It’s like having a personal guide that knows exactly when you need stress-relieving practices and strategies.
Telemedicine Solutions to Become Mainstream
Having virtual conversations with healthcare professionals is set to become increasingly common in 2024 and beyond. While telehealth visits have decreased since the height of the pandemic, Fortune Business Insights predicts that the telemedicine market will reach $185.6 billion by 2026.
Virtual healthcare services, telemedicine software, and remote patient monitoring (RPM) bring a bunch of perks for patients and doctors alike:
- Improved access to healthcare for patients
- Convenience and flexibility in receiving medical care
- Reduced healthcare costs
- Efficient and timely communication between patients and physicians
- Enhanced patient engagement and empowerment
Patients crave the same level of convenience in healthcare as they do in every other aspect of their lives. With mobile-enabled RPM, patients receive timely notifications to share how they’re feeling through a simple mobile app.
This groundbreaking technology further enhances communication between patients and healthcare providers. It’s nothing short of a game-changer for individuals battling chronic conditions like heart disease, diabetes, Multiple Sclerosis, Cystic Fibrosis, Asthma, and more.
Extended Reality as a Tool for Efficient Procedures
When it comes to healthcare tech trends in 2024, extended reality takes the spotlight like something out of a sci-fi flick. Extended reality, which covers augmented reality (AR), virtual reality (VR), and mixed reality, is set to bring innovation and benefits to the industry.
While these gadgets seem to be for entertainment, they’re making patient recovery time and hospital management better than ever.
Here’s how:
Medical training
AR and VR have proven to be game-changing medical technologies for training practitioners. It creates immersive simulations, allowing doctors and students to practice surgeries in a safe and realistic environment. This not only enhances their skills but also prepares them for real-life procedures.
With the help of AR-enabled devices, healthcare professionals can virtually hold patients’ hands through actions or procedures, offering remote support and expertise.
Remote rehabilitation and physical therapy
These cutting-edge technologies also assist healthcare specialists in delivering remote rehabilitation and physical therapy. Through augmented reality, they can craft interactive and captivating exercises.
By overlaying digital elements onto real-world environments, AR has the remarkable potential to inspire and guide patients on their rehabilitation journey, enhancing their engagement and ultimately improving their outcomes.
Specific treatments
Healthcare institutions are maximizing virtual reality technology to provide interventions for certain treatments. At the University of Central Florida, they’re using VR therapy to assist individuals with PTSD. They create simulated hospital room images and have patients recount their traumatic experiences while their therapist is present.
In Connecticut, Maplewood Senior Living has this VR therapy program for the elderly. It’s meant to help unlock memories and make them feel better emotionally.
Wearable Medical Devices for Accurate Monitoring
Consumer health wearables and mobile devices are becoming increasingly intertwined. And in 2024, this healthcare tech trend will keep expanding, pushing us to be healthier.
The demand for wearable devices like Fitbits and smartwatches continues to rise this year, along with the numerous healthcare and wellness mobile apps available on platforms like Google Play and the Apple App Store.
In terms of numbers, the wearable medical tech market is expected to reach $428.92 billion by 2030, growing at a CAGR of 28.6%.
It’s pretty clear that both patients and healthcare providers find it valuable to be able to keep an eye on a patient’s status remotely throughout the day using wearables or let patients track their own health.
And get this: 3 out of 10 working-age internet users actually have a “smart wrist” device like a fitness tracker or smartwatch. It just proves how much people love these gadgets!
Predictive Analytics to Forecast Risks and Outcomes
Predictive analytics is shaping up to be a really promising trend in healthcare technology for 2024. It’s gaining momentum as more and more institutions are recognizing its value and investing in it.
According to the Philips Future Health Index 2023 report, they found that 39% of healthcare leaders are planning to invest in AI for predicting outcomes, which is a significant increase from 30% in 2021.
By using real-time and historical data, predictive analytics can help healthcare providers gain valuable insights and take proactive measures for better treatment decisions. These capabilities have been crucial in times of crisis and are now an integral part of data-driven hospital operations.
Predictive analytics also supports remote patient monitoring, ensuring continuous care. For instance, one study demonstrated its potential in predicting life-threatening ventricular arrhythmias. By detecting risks early, predictive analytics facilitates a shift from reactive to preventative care, leading to better patient outcomes.
But it’s not just about patient health.
Predictive analytics can also come to the rescue by flagging potential maintenance or replacement needs for hardware parts. This can be done through continuous monitoring of medical equipment like MR scanners. It helps resolve 30% of service cases before equipment downtime occurs, saving healthcare operations from avoidable disruptions.
Robust Data Security
Postmeds, also known as Truepill, unfortunately experienced a significant data breach in 2023, impacting 2,364,359 individuals. They are just one of the many healthcare organizations that have been victims of cyberattacks and data breaches recently.
Keeping patients’ data safe has always been one of the key challenges in healthcare, especially as more technological advancements are integrated. It’s no wonder that the industry is increasingly investing in data security in 2024, so we can expect even stricter regulatory measures to be enforced.
Data breach prevention starts with compliance. Ensuring HIPAA compliance is crucial to avoid costly breaches. For instance, if you are serving international patients, consider the General Data Protection Regulation (GDPR) in the European Union.
If you are in the medical business of providing a platform for telehealth, compliant video conferencing software is available. However, it is recommended that a tailored solution may be necessary if the existing data infrastructure doesn’t seamlessly integrate.
Despite these efforts, there’s no guarantee that the third-party program can fully protect patient data. Plus, keeping information secure during remote consultations with your doctor can be quite challenging.
Nanotechnology to Revolutionalize Medicine
Nanotechnology is on the brink of a medical revolution with the emergence of tiny self-replicating robots called xenobots. In 2024, nanomedicine will be making waves, offering endless possibilities and opportunities for savvy early investors.
Nanomedicine is all about using tiny materials and objects, like biocompatible nanoparticles, nanoelectronic devices, or nanorobots, for medical stuff like diagnosing or treating living organisms. One example is the “smart” pill that has sensors to detect diseases way before you even notice any symptoms.
This technology is set to tackle genetic, oncologic, or auto-immune diseases at a cellular level, like tumors, arthritis, and more (or even be the ultimate solution). For instance, it can be used as a potential hunter for cancer cells or viruses, where a bunch of nanorobots are injected into a person’s blood vessels.
Just imagine—in 2024, you might be able to pop a nanobot pill instead of dealing with surgery or other invasive procedures! And that’s just scratching the surface of what nanotechnology has in store for us in the medical field.
Sustainable Procurement of Healthcare Supply
To address the urgent need for decarbonization in healthcare, health technology companies, healthcare systems, and other stakeholders are adopting sustainable practices throughout the entire healthcare value chain—operations, innovation, service, and delivery. So, we can expect procurement to undergo a significant sustainability transformation in 2024.
With ESG disclosure requirements on the rise, green procurement is set to revolutionize the healthcare supply landscape. As billions lack access to essential health services and disparities persist, the need for equitable and sustainable healthcare has never been more pressing.
One solution that the healthcare industry is looking at is digital solutions. They are highly scalable and can support broader prevention, improved triaging, and lower care costs. This enables a shift from resource-intensive clinical settings to more affordable settings like the home.
And for the 3.5 billion people worldwide who currently lack access to healthcare, digital healthcare technology can expand access to much-needed sustainable healthcare models.
Moving forward, in 2024 and beyond, we’re witnessing more collaborations between health tech companies, healthcare systems, suppliers, and other stakeholders. Together, we’re in the direction that will reduce the environmental impact of healthcare IT and pave the way for a sustainable future.
Regenerative Medicine with 3D Bioprinting
By 2024, 3D printing of bio-compatible implants will be even more reliable and accessible for medical facilities. With new materials and advanced prosthetic techniques, it’s catching the eye of scientists and researchers for its ability to create natural tissue-like structures in three dimensions.
This technology has become affordable and accessible, with some individuals even creating their own limbs. The global community of volunteers known as e-NABLE has produced over 8,000 prosthetic hands and arms for people worldwide.
Also, patients now have a wide range of choices when it comes to cardiovascular and neurological implants. It’s even possible to develop human organ and tissue structures for research purposes. By combining these structures with biocompatible microfluidics, healthcare facilities can create detailed models that mimic the functions of real human organs.
Neural implants
Neuro-implants, efficient brain-computer implants, are anticipated to be one of the most advanced medical devices entering the market in 2024.
Multiple companies, organizations, projects, and startups are poised to offer these implants for various medical needs, such as restoring functional independence in patients with paralysis or blindness.
For instance, as of 2021, scientists have actually put a tiny implant (about the size of a penny) into the visual cortex of a blind person. This incredible technology enabled her to recognize different letters and shapes.
We still have a long way to go, but the potential of brain implants to help with disabilities is truly mind-blowing!
Let’s Build Your Healthcare App Today!
Healthcare technology will continue to evolve and revolutionize the medical field in 2024. The possibilities are endless, and it’s an exciting time to be a part of this ever-growing industry.
If you’re looking to enter the healthcare market, StarTechUP can help you in building your very own healthcare app. With these digital health trends, there are endless opportunities to create innovative solutions that can improve lives!
We’ve partnered with wellness and healthcare providers, medical professionals, and tech experts to develop top-notch healthcare apps.
So why wait? Contact us today, and let’s create the future of healthcare together!
