The future of intelligent innovations
The penetration of digital tools and technology over the past few years has set the healthcare industry on a transformational journey. Globally, organisations continue to innovate solutions and support for patients and healthcare professionals as digitization and automation of products and services offer tremendous potential. With this, the medtech industry is ever-growing.
India too has acquired the status of the fastest-growing medical devices market among the emerging ones. The country’s National Medical Devices Policy aims to take the industry from $11 billion currently to $50 billion in the next five years. It is built around the public health objectives of access, affordability, quality, preventative and promotive health, research, and innovation.
The adoption of AI in the healthcare industry is already underway. From generative AI to surgical robots, the healthcare industry now wants technology to play a much bigger role. AI and digitalization can also impact the entire value chain, reaching the underserved communities and providing equitable access to healthcare products and services.
Tech complimenting health: Rapid technological advances in healthcare will continue to enhance both the physical and mental health aspects. Artificial intelligence (AI) and machine learning (ML) algorithms can analyse large volumes of medical data to optimize manufacturing processes, predict equipment failures, and improve the overall quality of medical devices. Generative AI has the potential to bring transformational changes to healthcare delivery by enhancing diagnostics, personalising treatment, streamlining operations, and improving patient outcomes.
Nanotechnology can offer breakthroughs in areas such as drug delivery, biomaterial, and diagnostics. Nano-sized material and devices can interact with biological systems at the cellular and molecular levels, leading to innovative medical solutions.
Digital therapeutics can address conditions like mental health using interactive platforms. AI-powered platforms such as conversational agents can identify signs of depression or distress. With their integration into smartphones or virtual assistants, providing instant support and finding human therapists could become easier and efficient.
Immersive learning environments can leverage augmented reality/virtual reality (AR/VR), transporting healthcare professionals into simulated scenarios for hyper-realistic medical training. AI-driven coaching can provide personalized feedback in real-time, ensuring continuous improvement.
Meet at home: Technology is enabling alternative healthcare models that meet consumers where they are. There’s an increasing momentum around wearables and at-home smart medical devices. Over time, more consumers will opt for wearables and companion apps to track their health and fitness in real-time, instead of waiting for care as and when its required.
The growing demand for wearables and at-home medical devices will also lead to consumer-friendly and affordable incentives. For example, health insurance companies may offer subsidized plans to increase the sales of these devices, enabling further data collection necessary for improving health outcomes. This will be complemented by sophisticated telemedicine platforms, allowing patients to connect with healthcare providers from the comfort of their homes. Virtual hospital wards, based on AR/VR and Internet of Medical Things (IoMT), will facilitate continuous monitoring of patients through wearable technology, without having to visit the hospitals in-person. With physical movement being restricted in the past few years, telehealth created a parallel and innovative way of seeking medical advice. Today, telehealth can not only offer virtual consultations but also remote diagnostics.
The responsibility beyond: Sustainability, without a doubt, is fundamental to every business today. The increasing use of AI and data analytics in healthcare requires significant computational power, leading to higher energy consumption. Medtech companies must invest in energy-efficient technologies and data centres powered by renewable energy to mitigate their carbon footprint.
With their widespread adoption, AI systems should become transparent and explainable, allowing healthcare providers and patients to better understand decision-making. Accountability is essential when AI systems are involved in clinical decisions with regards to adverse events and errors, which could possibly happen and how they need to be addressed.
Innovations in healthcare technology will boost patient autonomy, empowering them to manage their own care and treatment. The tech evolution marks a significant shift towards patient-centric care and uplifts healthcare professionals as more confident, intuitive, and efficient responders.
The author is VP, Global Health Medical Practice & IoT, Capgemini Engineering, India