Innovative Trends that Will Transform Healthcare Industry In 2018
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The Indian healthcare industry in recent years has significantly transformed with the help of several technological innovations. Many new players in this sector are redesigning old techniques and treatments to bringing healthcare facilities in the country’s most distant corners. Recently, Deloitte Touche Tohmatsu India predicted that with increased digital adoption, the Indian healthcare market, which is worth around US$ 100 billion, will likely grow at a CAGR of 23 per cent to US$ 280 billion by 2020.
Entrepreneur India spoke to experts to know about few trends will change the healthcare industry in 2018:
Focus on Digital Health:
The fact that technology can enable people to live longer and healthier lives cannot be disputed. From surgical robots to ‘smart hospital’, technology is revolutionizing healthcare in a major way. According to Rekuram Varadharaj, Co-founder and COO, healthi.in, the year 2018 is expected to be no different.
"A key overarching theme around digital health and health tech will center on user empowerment and engagement. This theme of user empowerment intersects perfectly with an accelerating trend of Indians getting online, primarily through smartphones.The focus of digital health will be on transforming the “unused person” (Patient) into a smart and engaged user who understands her needs and actively seeks relevant help from qualified practitioners," explained Varadharaj.
Adopting Predictive Analytics in Healthcare :
Online pharmacies are increasing in number every year with more Indians catching up with the trend of buying medicines online.
"The online pharmacy segment where users can order medicines on the Internet has witnessed frenetic activity recently with estimates of as many as 50 online pharmacy start-ups in India and is another application where provider discovery and convenience come to the fore. The use of scientifically-validated predictive analytics and personalized engagement to inform and empower users to avoid chronic illnesses will take a lead," said Varadharaj adding that the Artificial Intelligence technology will continue to be a focus area of entrepreneurial and investment activity in Indian health tech in near future.
Internet of Things Changing The Healthcare Landscape:
According to Manish Sacheti, CFO, Ziqitza Healthcare Ltd., the few trends that will change the face of healthcare in 2018 are the rise of wearables, Internet of Things and Big Data.
"Technology has been developing at a fast pace and will be considered as a reliable tool for long-term health monitoring systems. The evolution of the internet of things (IOT) has a number of applications in healthcare, from distant monitoring to smart sensors and remedial device integration. This helps in keeping the patients safe and healthy while improving the physicians’ ability to deliver care. When used effectively, this can bring a lot of transformation in the healthcare sector through the use of advanced analytics and big data technologies," shared Sacheti.
Improving Outcomes via Technology:
Predictive analytics can help the healthcare industry meet current challenges and plan for future needs.
Sacheti believes predictive analytics to improve outcomes, real-time monitoring of patients, value-based patient-centric care, etc. are some trends which can be brought in this sector to increase the accuracy of the treatment while reducing the costs.
Digital Platforms Will Reshape India's Healthcare:
Currently, digital technology acceptance is gaining distinction in India’s medical industry, with backing from both the private and public sectors.
Amit Munjal, Founder and CEO, Doctor Insta said the industry has come up with mobile apps, telemedicine, devices, and set up innovation centers among other initiatives. Apart from that, the digital healthcare platforms will fundamentally reshape the delivery of India’s healthcare.
"New technologies like augmented reality, virtual medicine advances, biotech, and wearables will be integrated into the healthcare landscape to provide additional methods for the provision of care, patient monitoring, diagnosis, and treatment.Factors such as inclining demand from consumers for cheap & quality healthcare services along with the limited access to doctors in rural areas will lead the growth in demand for telemedicine services in India," he said.