Artificial Intelligence remains one of the most widely discussed topics in many different fields. In particular, AI has managed to disrupt every industry under the sun and that includes the healthcare industry.
There are more than a few ways in which AI has transformed MedTech, leading to potential growth from $3.7 billion in 2019 to an estimated $67 billion by the year 2027. Here is how AI revolutionized MedTech.
Data is driving a lot of vehicles these days and for good reason. The more data that we have, the better we can understand an industry, a business, or a person. In the case of the medical industry, AI is making it possible to amplify big data.
It also works to help enhance data on patients to provide superior treatment. Drug discovery, genomics, and precision medicine are all proving this theory. Simply put, the more data that we have on a patient, the greater the possibilities for treatment are.
Wearable technology has come a long, long way in a short time. Not too long ago, being able to track heart rates, count steps, and monitor exercise habits was thought to be game-changing. But there have been incredible developments since then.
Wearable technology is making it possible to monitor things such as blood sugar levels and even oximeters that monitor how much oxygen is in the blood of respiratory patients. The more the technology develops, the more patients will be able to care for themselves or have a direct connection to physicians.
One of the biggest issues with seeing a doctor is actually seeing a doctor. Having to travel, to wait in a crowded waiting room, wait times extended. It’s frustrating and creates logjams within the healthcare system.
Telemedicine is changing that. Being able to check-in remotely and be seen by their doctor faster means patients can have more frequent visits. That, in turn, means potential for improved treatments whether it is regular health care or for a specific illness.