Top Healthcare Trends Expected to Rule in 2023 and Beyond

Healthcare sector is evolving at rapid speed, significantly upgrading in the term of incorporating technologies. From the last few years, technologies are driving a number of innovations to help in the process of finding, preventing and cursing it.

The worldwide healthcare services market has surged to nearly $7.5 trillion in 2022 and is projected to sustain its upward trajectory, surpassing $9 trillion by 2026. (Source)

Today how healthcare is functioning is hard to imagine a few years back. These can’t be possible for healthcare to explore unleashed opportunities without the backbone of technologies. Digitalization of healthcare workflow that enables patients to get affordable services remotely.

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As we move forward toward new upcoming years, remaining mindful about the future trends in healthcare is common. Migrating from legacy systems & processes to modern infrastructure to transform its state-of-the-art care center. In this digital era, it has become paramount to integrate newer technologies to gain more productivity, efficiency and security without sacrificing reliability or accessibility.

Let’s see the upcoming healthcare trends that will dominate in 2023 and beyond.

Prominent 5 Healthcare Trends in 2023 and Beyond

Due to technological advancement, almost every industry is ongoing through some major transformation, healthcare is no exception. Healthcare processes integration to emerging technologies opens doors for innovations and breakthroughs. These innovations strengthen the healthcare service provider to achieve streamline and optimize processes.

Constant trends in the healthcare industry emerge as future projections. Healthcare service providers, even a clinic are actively procuring the new technologies based solutions such as AI, IoT and others. However, many more are waiting to bring something unexplored. 

Let’s focus on the healthcare trends that will rule for the upcoming many years.

Healthcare Trend #1: Artificial Intelligence

AI's healthcare breakthroughs in recent years and ongoing pioneering efforts continue to transform the industry, with capabilities that are not new but consistently innovative. "AI is a game-changer in healthcare," says Dr. Sarah Chen, a leading medical expert. "It has the potential to revolutionize how we diagnose, treat, and prevent diseases. The possibilities are limitless."

According to Precedence Research, the projected global market size of artificial intelligence in healthcare is expected to exceed USD 187.95 billion by 2030, with a compound annual growth rate (CAGR) of 37% during the forecast period of 2022-2030. (Source) 

Crucial Pointers to be Focus on

• AI-enabled solutions or applications help healthcare to improve diagnosis, personalized treatment and enhanced patient care.
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• AI analyzes vast medical data for faster and more accurate diagnoses, enables early interventions, and extends healthcare access.
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• AI-driven automation streamlines administrative tasks, enhances operational efficiency, and reduces errors.
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• Ethical considerations must be addressed for the responsible and ethical use of AI in healthcare.
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• Collaboration among healthcare professionals, technology experts, and policymakers is crucial for maximizing the potential of AI in healthcare.

Healthcare Trend #2: Telehealth and Telemedicine

Saying that telehealth and telemedicine are shaping the future of healthcare service delivery. Telehealth is a growing way of using telecommunication platforms to deliver healthcare services to a patient remotely. Hence, as it's offered convenience marking it as a revolution for the healthcare industry in the future.

With time, telehealth is unlocking plenty of possibilities. Here are some key ways telehealth and telemedicine are shaping the future of healthcare.

Since February 2020, telemedicine has been 38 times more popular than ever before, according to McKinsey and Co.

Key Roles of Telehealth in Future Healthcare Industry

• Expanded access to healthcare through virtual consultations, remote monitoring, and tele-pharmacy, overcoming barriers of distance through mobility solutions.
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• Enable personalized and patient-centric care through tailored healthcare services that empower patients to actively experience their healthcare management.
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• Enhanced care coordination among caregivers and settings through virtual communication and information sharing.
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• Cost-effective healthcare delivery models result in potential cost savings for patients, providers, and payers.
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• Continued technological advancements and integration, such as AI, VR, and wearable devices, drive the growth of telehealth and telemedicine.

Healthcare Trend #3: IoMT (Internet of Medical Things)

IoT has been one of the growing healthcare trends in the form of IoMT - Internet of Medical Things. An Internet of Medical Things benefits (IoMT) refers to an interconnected network of health-related devices that are connected to the internet, such as medical devices, wearables, sensors, etc.

The worldwide market for Internet of Medical Things (IoMT) is anticipated to experience robust growth, with projections indicating an increase from $30.79 billion in 2021 to $187.60 billion in 2028, at a compound annual growth rate (CAGR) of 29.5%. (Source)

Key Benefits of IoMT Offer to Healthcare Industry

• Healthcare providers can monitor patients' health conditions remotely, including vital signs, medication adherence, and other data, so they can better manage disease and reduce readmissions.
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• Personalized and proactive care can be provided by IoMT devices, such as wearable health trackers and smart medical devices, allowing early detection of health issues and timely interventions.

• It improves operational efficiency in healthcare facilities, lowers healthcare costs, and improves patient outcomes, among other benefits. Among healthcare trends, this one simplifies workflow, automates routine tasks, and optimizes resource allocation.

• Patient safety can be improved through IoMT devices and health monitoring in real-time, which will lead to a reduction in adverse events and medication errors.

• IoMT has the potential to extend healthcare services to remote or underserved areas. It allows patients to access healthcare remotely and receive timely medical and personalized care, bridging the gap between patients and healthcare providers.
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• Through IoMT, healthcare can generate vast amounts of health data, which can be analyzed and utilized for data-driven decision-making, personalized treatment plans, and population health management. Also leading to improved healthcare outcomes and patient experience and satisfaction.

Healthcare Trend #4: Augmented and Virtual Reality

The concept of augmented, virtual, and mixed reality are trending conversations in various industries including healthcare. These technologies hold a great deal of potential to improvise legacy systems and entire workflow from scratch. From contributing to the surgery process to aiding values to telehealth, AR/VR has unexplored possibilities to create a sustainable future for the healthcare sector.

As per the research, it has been expected that the role of AR and VR technologies in the healthcare industry will grow at a fast pace between 2018 and 2025.

Key Benefits Added by AR/VR Technologies in Healthcare Industry

• Telemedicine and Remote Patient Monitoring: Augmented and virtual reality technologies are being utilized to enable telemedicine and remote patient monitoring. Virtual reality (VR) can create immersive environments for remote consultations, allowing healthcare professionals and experts to conduct virtual examinations and assessments. This leads to a reduction in cost outline and saves time for both patients and doctors.

• Medical Training and Education: Augmented and virtual reality have capabilities to be used in the medical training and education process to provide realistic and interactive learning experiences to patients. Medical students can use VR and AR technologies to practice surgical procedures, simulate complex medical scenarios, and gain hands-on experience in a safe and controlled environment.

• Pain Management: Virtual reality is a platform to effectively manage pain and anxiety in patients. Experiences in virtual reality (VR) can help patients cope with pain, lessen their need for opioids, and relieve stress. VR is employed in a variety of contexts, including physical therapy sessions, childbirth, and dentistry treatments.

• Mental Health and Wellness: Augmented and virtual reality is being used to improve mental health and wellness. Virtual and augmented reality are being used to improve mental health. PTSD, anxiety disorders, phobias, and stress can all be treated with VR/AR experiences for relaxation, stress reduction, mindfulness, and exposure therapy.

• Surgical Planning and Navigation: Augmented reality can also be used in surgical planning and navigation to provide surgeons with real-time guidance during procedures. AR overlays digital images onto the surgeon's view of the patient, helping them visualize anatomical structures, locate tumors, and plan precise incisions.

Healthcare Trend #5: Healthcare's Cloud Shift

Healthcare service providers are embracing the benefits that come along with cloud solutions. And finding it an ideal way to transform the way they store, retrieve and manipulate data. Cloud-based solutions offer positive outcomes such as reduced cost, improve patient care, increase efficiency, and enhance data security.

According to a report by MarketsandMarkets, the global healthcare cloud computing market is expected to achieve a market size of $89.4 billion by 2027, with a projected Compound Annual Growth Rate (CAGR) of 17.8% during the forecast period, starting from an estimated market size of $39.4 billion in 2022. (Source)

Key Values Added by Cloud to Healthcare Sector

• Scalability: Cloud-based solutions offer the ability to easily scale IT infrastructure up or down according to the needs of healthcare organizations. Help them to provide flexibility to adapt to changing requirements without significant upfront investments.

• Cost-effectiveness: Cloud-based solutions empower healthcare organizations to optimize IT resources and attain cost savings- as it eliminates the need for large capital investments in hardware and software, reduces maintenance costs, and enables pay-as-you-go models, etc.

• Accessibility and Mobility: From all healthcare trends in 2023, this trend will enable healthcare providers to access data and applications from anywhere, at any time, and from any device with internet connectivity. Ultimately allowing seamless collaboration, remote work, and telehealth services, improving access to care and patient engagement.

• Interoperability and Data Exchange: Cloud incorporation facilitates data integration and interoperability. It allows healthcare for the seamless interexchange of patient information between different healthcare systems and providers. As a result, the healthcare industry can achieve more coordinated and personalized care and improved clinical decision-making.

• Disaster Recovery and Business Continuity: A well-known benefit of the cloud is it offers built-in data backup and disaster recovery capabilities. It has been designed in a manner to ensure data resilience and business continuity and sustainability in the event of system failures, natural disasters, or other disruptions. Moreover, ensure minimized downtime and uninterrupted access to critical healthcare services.

Conclusion: Future of Healthcare Trends & Technology

When looking at technology trends in healthcare from ten years ago, it's evident that some have transitioned from being "nice-to-have" to "must-have" solutions. For instance, AI system integration is no longer just a trend for 2023, but rather a necessity in today's healthcare landscape. If healthcare organizations haven't implemented it yet, now is the right time to do so.