How is digitalization revolutionizing healthcare?
Advances in healthtech are enabling doctors and researchers to extend our lifespans, and to manage the issues and complexity associated with longevity. For instance, new bioengineering techniques are being developed to “treat ageing” and increase our healthspan, which is the period in which we are free of major chronic diseases.
Less radical yet no less life-changing are innovations such as smartwatches that measure blood pressure, continuous glucose monitors and mobile electrocardiogram devices. The data generated by these technologies empowers patients to independently manage their health and improve their quality of life. This data can also be linked with digital medical records, ensuring doctors have access to accurate, up-to-date information.
Key areas of growth in healthtech
Demand for smart devices and digital healthcare solutions is expected to increase, not least due to ageing populations worldwide and the soaring cost of providing healthcare.
Digital healthcare solutions are accessible, cost-effective, customizable and preventative. So it’s not surprising that the healthtech industry has shown considerable growth in recent years. According to Uwe Neumann, Senior Equity Analyst at Credit Suisse, the four key areas worth watching are diagnostics (for example modern imaging and genetic analysis), therapeutic health technology, care delivery at distance and support functions which are transforming electronic healthcare records into more relevant, useful and transferrable tools, artificial intelligence playing an essential role in these technological advances.
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