A look at the tech disrupting the healthcare industry
Revolutionizing Healthcare-Technology has touched every single aspect of our life, making a lot of things faster and more simple. From transportation to the food industry, and e-commerce to the manufacturing industry, technology has provided numerous solutions.
When it comes to the global healthcare industry, technological innovation has unlocked a lot of interesting possibilities to give healthy and disease-free life to everyone. Looking at the data and reports, the global healthcare industry has grasped a growth rate of 4.82 percent, according to researchandmarkets.com.
Using digital technologies like robotics, artificial intelligence, VR/AR, robotics, and blockchain, the healthcare industry builds a better healthcare ecosystem for the future.
Moving ahead, let’s talk about the seven powerful technologies that are advancing healthcare. In fact, these technologies have the power to reshape the entire industry.
- Artificial Intelligence
The first technology on the list is Artificial Intelligence. This high-end technology allows patients to get some special diagnostic tests from a distant location. You can find a lot of technologically advanced healthcare providers who perform surgeries with AI assistance.
Yes, you read it right, many healthcare service providers perform surgery via AI, which is a growing trend providing affordable access to surgical specialists. Moreover, AI also helps in giving training to new doctors concerning surgical methods and other procedures, eradicating the need for risking human patients.
Considering the total public and private sector investment in healthcare AI, it is expected toreach $6.6 billion by 2021. Another prediction by Accenture says that some of the top AI apps may result in savings of $150 billion by 2026 annually. In short, such benefits will accumulate incrementally from precision surgery to automated operations and protective medical intervention. Within a decade, the technology will reshape the healthcare industry as we know it.
Another technology reshaping healthcare is blockchain. It is one of the most powerful and disruptive technologies in the world. There are many industries that are adopting this technology in order to transform the way they function and perform tasks.
Along with other industries, healthcare is looking to adopt the blockchain in order to streamline the medical records and share in a secure way. One of the main characteristics of blockchain technology is security, which makes it easier to trace the paths of drugs.
Every single transaction that is added in the block is immutable and timestamped, making it easier for hospitals and health service providers to track a product and ensure the information can’t be altered.
The IBM Institute for Business Value blockchain studies more than 200 healthcare executives, including both payers and buyers in 16 countries. Sixteen percent of surveyed healthcare executives are experimenting with blockchain.
- 3D Printing
3D printing is another technology affecting healthcare because of its ability to allow customization which decreases surgery time and medical expenses. Some of the most significant include 3D-printed scaffolds or prosthetics and medical devices such as hearing aids and dental implants.
However, the true game-changing solutions provided by 3D printing will be in human tissue printing, including printed livers, hands, eyes, hearts, and ears, or building the smallest functional units of tissues. Moreover, it also can be used as surgical grafts in order to overhaul or replace injured tissues and organs.
3D printers are already being relied on to manufacture medical equipment and surgical devices, which can match a patient’s unique body type or anatomical requirements. The specialized surgical equipment is helping doctors to treat the unique requirements of the patients more efficiently.