What Will Dominate the MedTech World in 2023? Let's Dive!

July 20, 2023

Good day! The healthcare business is undergoing a revolutionary change as a result of ground-breaking technological developments, which will ultimately improve patient care. What are the emerging trends for 2023? We're about to dive into a friendly exploration of these amazing developments and their potential to transform healthcare, from the rising popularity of telemedicine to the remarkable impact of artificial intelligence (AI), the rise of medical robots, the buzz around digital therapeutics, and the fascinating world of virtual reality (VR) applications.

Telemedicine: Bringing Care Closer, One Click at a Time

The way we obtain healthcare is quickly evolving. Patients can now communicate with medical professionals from the convenience of their own homes thanks to the growing uptake of telemedicine.

Telehealth services are now more popular than ever thanks to the COVID-19 epidemic, which resulted in significant changes in consumer behavior.

Are you able to believe that only 11%1 of US customers used telehealth in 2019? Today, as a result of the epidemic, that percentage has soared to 46%. Therefore, it should come as no surprise that 76% of US customers are considering using telehealth in the future in addition to in-person doctor visits.

Artificial Intelligence: The Superpower Fueling Healthcare Innovation

Artificial intelligence (AI) is transforming healthcare, that comes with no surprise. Healthcare processes benefit from AI's assistance and are made more effective. AI is like a reliable companion2.

Healthcare AI funding totaled an astounding $3.7 billion across 232 agreements in Q3 20203!

There were just 64 AI/ML-based medical devices and algorithms with FDA approval in the beginning of 2020. Can you believe that number soared to over 500 by the middle of 2023? Robotics, personalized apps, data analysis, and virtual health aid are just a few of the healthcare applications where AI is making waves. Image recognition AI4 technology for medical diagnostics is also expected to be worth over $3 billion by 2030. Superpowers, people!

Medical Robots: Where Science Fiction Meets Surgical Marvels

By 2030, Verified Market Research projects that the market for medical robots would be worth a staggering $35.05 billion.

Surgical robots are the real healthcare superheroes among the many different types of medical robots. They add accuracy and grace to operations, helping doctors carry out difficult treatments with superhuman accuracy. Not to be overlooked is PROCEPT BioRobotics' AquaBeam, an ultrasound-guided surgical robot. One of the most notable developments in this area, it is astounding to observe how robots are changing the surgical scene.In fact, science fiction become reality!

Digital Therapeutics: Empowering Patients, One App at a Time

What's this? Digital therapeutics (DTx) is creating a brand-new field that will revolutionize patient care. These amazing computer applications provide therapeutic techniques that are supported by research for a variety of diseases. They have the ability to manage, treat, or even prevent behavioral, mental health, and physical issues.

Within the next ten years, DTx will have a significant impact on the industry5.

Knowing that 63% of MedTech leaders in aDeloitte survey think that digital therapies would revolutionize healthcare is empowering. Prepare for individualized and successful treatments, all because of technology!

VR Healthcare Applications: Unlocking a World of Possibilities

We're about to enter the immersive realm of virtual reality (VR) in healthcare, so hold on to your virtual goggles and remember that that ping pong table is not real! The degree of patient experiences is being raised through VR technology. The goal is to revolutionize medical education, patient care, medical marketing, and disease awareness, not only to provide amusement. With the use of VR simulations, healthcare worker scan hone their abilities in a true-to-life setting, enhancing the learning experience. Virtual reality (VR) can help patients manage their pain, unwind, and reduce their stress.

Did you know that in 2019, the VR healthcare market was estimated to be worth $2.14 billion? And be ready, because by 20276, it's expected to reach $33.72 billion!

Wow, what a beautiful tour into the world where technology and kind care coexist! Healthcare is undergoing a revolution as a result of the rise of telemedicine, the superhuman abilities of AI, the marvels of medical robots, the empowering digital therapies, and the immersive experiences of VR applications. So let's welcome these amazing advancements and anticipate a time when patients will receive better, more individualized care.

  1. https://www.mckinsey.com/industries/healthcare/our-insights/telehealth-a-quarter-trillion-dollar-post-covid-19-reality
  2. https://www.workitnow.pl/post/how-can-i-assist-you-optimize-your-workflow-using-rpa
  3. https://www.cbinsights.com/research/report/ai-trends-q1-2023/#:~:text=Funding%20to%20US%2Dbased%20AI,straight%20quarter%2C%20reaching%20just%20232.
  4. https://www.idtechex.com/en/research-report/ai-in-medical-diagnostics-2020-2030-image-recognition-players-clinical-applications-forecasts/766
  5. https://www2.deloitte.com/content/dam/insights/us/articles/6807_CHS_Life-sciences-CEO-survey-Medtech/DI_LS-survey-medtech.pdf
  6. https://www.prnewswire.com/news-releases/virtual-reality-in-healthcare-market-worth-33-72-billion-globally-by-2027-at-41-2-cagr-verified-market-research-301087574.html
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