Technology has already profoundly changed medical care. The technological revolution will go much further, especially outside the walls of the hospital.
Key points
- Technology has already profoundly changed medical care. The technological revolution will go much further, especially outside the walls of the hospital.
- Medical technology, the advent of 5G networks and medical devices equipped with the "Internet Of Things" will improve the quality and accessibility of care.
- The medical technology subsector is expected to experience an average annual growth rate of 5% until 2030. Around €440m is spent annually on medical equipment in the Netherlands.
- In addition to the imaging diagnostic equipment market, there will be more personal medical devices in particular, which will find their applications in the patient's home. These devices will become increasingly sophisticated and cheaper, Medical Consumer Electronics
Technology revolution has already radically changed healthcare
Technological developments have taken off in healthcare over the past 50 years. MRI scans, X-ray machines, kidney dialysis, endoscopes, lab equipment and surgical robots have become the most normal thing in the world and can no longer be ignored in healthcare delivery. Yet it was only about 30 years ago that the first MRI scan was introduced in the Netherlands. In a relatively short time, a technological revolution in healthcare has taken place.
Healthcare is on the brink of a new technological revolution
And the possibilities of technological innovation in healthcare are far from exhausted. There is increasing use of internet technology and mobile network technology with IOT devices that will be connected to 5G networks. Forms of traditional care can thereby integrate with new digital forms such as image calling, home automation and e-health applications. The patient is increasingly part of a physical and digital network in which different healthcare providers work together. If developments continue at the current pace, internet care will soon be as common as internet banking.
...leading to new opportunities in medical devices.
Due to technological revolution, medical equipment does not only consist of hardware but software becomes at least as important. Medical equipment in general is becoming more sophisticated, precise, powerful and therefore more effective. Think of 3D imaging, robotic and nanotechnology, molecular imaging and so-called 'cell repair' machines. Miniaturisation of medical equipment means it is getting more applications. More and more basic healthcare equipment is equipped with intelligent chips. Think of glucose meters that monitor blood sugar levels as well as other blood values. By making the devices IOT, the data are easy to share for research. In the high-end market, the operation of devices becomes more complex with the increase in capabilities. Medical device manufacturers are training hospital staff in this and even taking over the operating task in complex operations. In the low-end market, operation is becoming simpler and the nurse or patient can perform more tasks themselves, for example via 'hand held' applications. The use of medical equipment is shifting from 'operate when it is too late' to preventive use.
Substantial growth of medical technology
The medical technology subsector is expected to experience an average annual growth rate of 5% until 2030. Digitisation and the surge in available data, including through smartphones and 'wearables', are increasing the quality and accessibility of care and can reduce wasteful healthcare spending. Innovation power is essential for the healthcare sector to face competition from technology companies, for example. By combining data, products and services, medical technology producers can offer complete solutions to healthcare providers. Through acquisitions and strategic partnerships, medical technology producers will claim a bigger role in the healthcare sector in the coming years.
Development of personal medical devices
Current "Care@Home technology" is not yet very advanced. Holter ECGs, for example, are, however, becoming easier and simpler to use at home. Apart from convenience and easy operation, it is mainly about safety and reliability. After all, the doctor remains liable for the care, even if it is delivered at home. However, developments are moving fast. Personal medical devices to be used at home are set to boom. With the latest Apple Watch, it will be possible to take cardiac ultrasounds and then view them with a smartphone. The next Apple Watch will have a glucose meter especially suitable for diabetics.
Medical Technology will still grow tremendously.
Medical technology in hospitals, in ORs and for diagnostics will continue to develop. In addition, a consumer market will emerge for "personal medical devices". Call it e-health, call it home automation. What it does is enable care outside the walls of the hospital, close to the patient, preferably at home. Chronic patients in particular will benefit, but so will the elderly and patients who have just undergone surgery who can go home earlier with proper monitoring. Ultimately, everyone will benefit from this development. With these "personal health devices", it will be possible to adjust your lifestyle to your health and thereby prevent you from getting certain diseases of affluence in the first place. Your personal health coach on your wrist or in your phone. An effective way of prevention.
