The healthcare industry constantly evolves, with new technological advancements and innovations transforming healthcare delivery. In current years, there has been a significant elevation in the development and use of medical technology, also known as “MedTech.” As we move into 2024, several emerging trends have the potential to transform healthcare in new and exciting ways. From wearable devices to artificial intelligence (AI), these MedTech trends promise to improve patient outcomes, increase efficiency, and lower costs across the entire healthcare ecosystem. Here, we will explore ten MedTech trends worth watching in 2024.
Overview of The Medical Technology Industry
1. The global medical technology market was valued at $456.9 billion in 2020 and will grow to $800 billion by 2030.
2. The United States is the most extensive market for medical technology, accounting for approximately 40% of the global market.
3. The top five segments of the medical technology industry are cardiology, in vitro diagnostics, diagnostic imaging, orthopedics, and ophthalmology.
4. The adoption of telemedicine and digital health technology has been expedited by the COVID-19 pandemic, with the global telemedicine market expected to reach $191.7 billion by 2025.
5. Other emerging technologies in the medical technology industry include AI, robotics, blockchain, and virtual reality.
Ten MedTech Trends Worth Watching in 2024
1. Growing Consumer Adoption of Telemedicine
Telemedicine uses telecommunication and digital technology to remotely deliver healthcare services and clinical information. With the pandemic, the number of people using telemedicine has skyrocketed as people try to avoid getting the virus by getting virtual consultations. Telemedicine also gives people who might not be able to get medical care because of where they live or their budget the chance to do so.
As telemedicine continues to grow, Fusion CX can help healthcare providers and telemedicine companies in a big way by offering services like customer support, scheduling appointments, technical support, patient data management, and insurance verification. Using our knowledge and experience, healthcare providers and telemedicine companies can improve the patient experience, ensure services are delivered efficiently and give patients high-quality, easy-to-reach, and effective healthcare.
2. Artificial Intelligence Augments Healthcare Processes
AI can change how healthcare is given, from making patients healthier to making operations run more smoothly. For example, tools like predictive analytics, machine learning, and natural language processing that AI powers can help diagnose, plan treatments, and make new drugs. More AI-powered tools will be used in healthcare in 2024 to improve patient outcomes and lower costs.
As the use of AI in healthcare grows, we can help in significant ways by managing data, giving customer and technical support, and testing for quality assurance. Also, our knowledge can help healthcare providers and development teams ensure that AI tools are correct, reliable, and valuable. As a result, it will improve patient outcomes and lower healthcare costs.
3. Medical Robots Continue to Gain Traction
Medical robots, like surgical robots, are being used more and more in the healthcare field to improve the accuracy of surgery and lower the risk of complications. In 2024, we expect medical robots to improve and be used more in minimally invasive surgeries. In addition, artificial intelligence and machine learning will aid them in improving their abilities.
We can help their adoption and integration by offering technical support, training and education, data management, customer support, and quality assurance. In addition, it will ensure that medical robots are accurate, safe, and reliable, which will help patients and lower healthcare costs.
4. Use Of Biometric Devices And Wearables Is Growing
Wearable devices and biometric sensors are becoming increasingly popular in the healthcare industry because they give patients real-time information about their health and let doctors check on patients from a distance. As a result, we can expect wearables and biometric devices to grow and be used more by patients and healthcare providers in 2024.
Fusion CX can help device makers and healthcare providers with technical support, data management, customer service, quality assurance, analytics, reporting, and more. This support will make sure that wearable devices and biometric sensors work well, collect accurate and secure patient data, offer customer service, go through rigorous quality testing, and let people make decisions based on the data they have. So, healthcare providers and device makers can use the expertise and experience of their services to improve patient outcomes and lower healthcare costs.
5. Women’s Health and Privacy Concerns for Medical Technology
In the past, the healthcare industry paid less attention to women’s health, and research and funding for conditions that only affected women were limited. But by 2024, we expect more money to flow into research on women’s health and the development of technologies that cater to women’s health needs. Also, privacy concerns about the use of MedTech, especially regarding women’s health, will need to be addressed if patients are to trust and use it.
As the healthcare industry pays more attention to women’s health, it is crucial to address privacy concerns when using MedTech. We can help by offering secure data management solutions with advanced security measures, personalized communication solutions, and support for research and development in women’s health. We can also help patients trust and use medical technology by partnering with healthcare organizations. As a result, it improves women’s health and creates a more trustworthy healthcare environment.
6. The Growing Importance of Data Privacy and Security
Data privacy and security are increasingly important, with more digital technology gaining traction in healthcare. As long as data privacy and security are essential in healthcare in 2024, Fusion CX can make custom solutions to help healthcare organizations manage and protect data.
With our advanced security measures, compliance solutions, staff training, and disaster recovery plans, we can ensure that patient data stays private and safe, stolen or accessed by people who shouldn’t be. By working with healthcare providers, we can also increase patients’ trust and confidence in using digital technology in healthcare, leading to better patient outcomes and care.
7. Virtual Reality (VR) in Healthcare
Virtual Reality (VR) is a rapidly developing technology that has the potential to transform healthcare delivery by providing immersive and interactive experiences for patients and healthcare providers. So, VR will become more prevalent in healthcare, especially in areas like pain management, physical therapy, and mental health care. For example, VR can give patients a safe, controlled space to overcome their fears, lower their anxiety, and deal with pain. VR can also help train, plan, and simulate surgeries for doctors and nurses. In addition, it makes learning more authentic and hands-on.
As the use of virtual reality (VR) in healthcare continues to grow, we can offer technical support and maintenance, data management and analytics solutions, and telemedicine and virtual consultation services by 2024. In addition, partnering with healthcare providers may assist in altering care delivery, enhancing patient outcomes, and enhancing training and simulation experiences for healthcare professionals.
8. 3D Printing in Medical Applications
3D printing is a technology that has existed there for decades but has recently gained traction in the healthcare industry. Complex medical devices, prosthetics, implants, and surgical models can be made with 3D printing, giving patients personalized and custom solutions. In 2024, 3D printing will be used in medicine more often, especially in orthopedics, dentistry, and maxillofacial surgery. By making custom-fit implants and surgical models, 3D printing can reduce surgery time, improve surgical accuracy, and improve patient outcomes. Also, 3D printing can make it easier and cheaper to make medical devices, which can lower healthcare costs and make them more accessible for more people to get.
Fusion CX services can help 3D printing become more popular by offering customized design, printing, tech support, data management, and communication solutions. In addition, by partnering with healthcare providers, Fusion CX services can help make healthcare more accessible and affordable for more people, promoting better patient outcomes and improving overall healthcare delivery.
9. Hospital-to-Home Care
The COVID-19 pandemic has revealed how important it is to provide care outside hospitals, especially for weak people. As a result, we expect hospital-to-home care programs to grow in 2024. These programs will use digital technology to allow remote monitoring and virtual consultations.
As hospital-to-home care programs become more important by 2023, Fusion CX can help healthcare providers give good care outside hospitals with digital solutions. For example, we allow patients to talk to doctors from their homes through remote monitoring, telemedicine, and virtual consultations. We can also help with data management, analytics, and technical support so that digital health technology is always available and works well. Overall, Fusion CX can help healthcare providers improve the health of their patients, lower costs, and improve how they provide care by using digital technology.
10. Internet of Medical Things (IoMT)
The Internet of Medical Things (IoMT) directs to the interconnected network of medical devices and applications that collect and transmit data for healthcare purposes. We expect the IoMT to keep growing in 2024, with more people using connected medical devices and data analytics to give them more personalized care. Integrating blockchain technology into the IoMT will also increase data security and privacy.
When the IoMT grows in 2024, Fusion CX can help healthcare providers manage and analyze the vast amounts of data that medical devices produce. So, we can ensure that patient data is sent and stored safely and efficiently and also give healthcare providers important information about patient health and outcomes. Also, we can offer technical support for IoMT devices, ensuring they stay connected and work and that patients and providers have access to real-time health data. Finally, we can help healthcare providers use the power of connected medical devices to improve patient outcomes and healthcare quality. They do this by offering end-to-end solutions for IoMT integration.
Conclusion
In 2024, the MedTech industry will likely grow and change significantly, thanks to new technologies that promise to change healthcare delivery methods in exciting ways. From using telemedicine to AI, robots, wearables, and biometric sensors, these trends could improve patient outcomes, increase efficiency, and lower costs across the entire healthcare ecosystem. As the industry evolves and changes, we can help healthcare providers and MedTech companies navigate the complex landscape by offering our expertise, support, and innovative solutions to drive progress and innovation in healthcare. With continued investment and teamwork, the MedTech sector has the potential to transform global healthcare and benefit people.
