Health and med tech trends 2023

As technology continues to advance, so does health tech and digital health, MedTech and PharmaTech. Here are some of the key trends to expect in 2023 and beyond.

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1) The increasing importance of data

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The use of data in health tech is becoming more and more essential as the healthcare industry continues to move towards a more digital-first approach.

As new types of data are collected they then become increasingly important in decision-making and care delivery. Indeed it has been said that 2023 will be the year that care systems use data to move from insights into actions.

This means that data must be collected, analysed, and leveraged in ways that improve patient outcomes, while being compliant with regulations.

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2) The increasing importance of cybersecurity

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As healthcare continues to become increasingly digital, cyber threats are becoming a bigger issue. With the growing number of medical devices, patient data, and other information systems connected to the internet, the risk of cyberattacks is ever-present. As such, cybersecurity is becoming an increasingly important factor within health tech.

Good cybersecurity can provide a competitive edge for health tech startups, as it protects them from malicious attacks, while also helping them to meet regulatory compliance requirements.

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3) The rise of digital therapeutics

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Digital therapeutics are becoming more and more popular in healthcare as companies increasingly recognise the benefits of using technology to improve health outcomes.

Digital therapeutics (a subset of digital health) are evidence-based therapeutic interventions driven by high quality software programs to prevent, manage, or treat a medical disorder or disease.

Some examples include apps that provide step-by-step guidance for managing chronic conditions such as diabetes or high blood pressure, virtual reality-based systems for physical rehabilitation, and telehealth solutions for remote patient monitoring.

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4) The growth of medtech

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The pandemic encouraged faster and more frictionless adoption of technology. The move has been supported by healthcare professionals who recognise that technology can bridge the gap between increased medical demand and limited budgets.

There is a good reason why healthcare services have traditionally been slow to adopt new treatments and standards of care - because changes need to demonstrably deliver better clinical outcomes to be adopted. This can be hard to prove and takes time to demonstrate.

However, as the pace of evolution within the medtech industry quickens, treatments can demonstrate real patient benefit far more quickly. Medtech solutions can speed up healing and recovery and several have adapted or modified medical techniques in new formats and applications. This trend is only set to grow.

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5) Patients to use medtech at home

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As the inevitable pressure on healthcare services intensifies in the short-term, expect to see increased use of medtech that enables patients to monitor, and in some cases to treat their own conditions more effectively at home.

This approach will reduce the need for hospital or clinic visits, and help healthcare professionals to monitor, identify, and treat patients to ensure they get the care they need, when they need it, but without wasting limited resources.

In a world where millions experience delays in surgery, this will become an increasingly important part of helping and supporting patients while they wait for treatment.
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