Essential Healthcare Technology Developments to Implement in 2024

The fast expanding technology has led to considerable transformation in the healthcare sector through innovations. New technology is always raising the bar for healthcare in all areas, whether it be user experience, administrative workflow efficiency, or healthcare quality.

Economically speaking, the worldwide market for healthcare technology produced $350 billion in revenue in 2022 and is projected to grow to $974.5 billion by 2027. This suggests that if healthcare organizations use technology in the proper way, there are a lot of opportunities ahead of them.

Healthcare technology innovations like as IoMT, Nanomedicine, and Generative Al are expected to take center stage in the healthcare industry by 2024. These patterns demonstrate the increasing focus on enhancing data security and administrative process optimization in order to raise the caliber of healthcare services. Let's examine these developments in healthcare technology in more detail.

1.Blockchain: The Future of Secure Data Management

A breach of medical data can have major repercussions, such as financial losses and invasions of user privacy. Using blockchain technology can be beneficial in this sense because it secures and decentralizes data storage. Consequently

Roughly 30% of healthcare suppliers use blockchain technology, and by 2025, that percentage is predicted to rise to 55%, according to Statista.

2.IoMT: Bridging Devices and Data in Healthcare

One of the major developments in healthcare technology to look out for in 2024 is loMT, since more than 50% of consumers are enthusiastic about utilizing wearable tech and mobile health apps. IoMT offers many advantages for remote health monitoring and telemedicine.

3.Wearable Tech: Personalized Health at Your Fingertips

Since the market for wearable technology is growing, the gap between consumer health wearables and medical devices is beginning to close. Due to their ability to continuously track vital signs and health parameters in real-time, these gadgets have become highly sought-after in the healthcare industry.

Over the next ten years, the wearable medical technology industry is expected to grow at a compound annual growth rate of 28.6%, reaching a valuation of $428.92 billion by 2030. The effectiveness of these gadgets is demonstrated by the rapid growth of the wearable medical technology business.

4.Secure and Scalable Data Management with Cloud

Cloud computing reduces the need for on-site infrastructure, resulting in significant cost savings, by processing and storing healthcare data on centralized remote servers. Cloud computing provides benefits in terms of cost as well as solutions.

According to a poll, cloud computing solutions are now being used by over 50% of healthcare providers; by 2025, that percentage is expected to rise to 90%.

5.Generative AI: The Future of Streamlined Healthcare

With all the possibilities that healthcare technology offers, al is one of the trends that will never go out of style. The introduction of Al will undoubtedly have an effect on the healthcare sector. Generative Al is anticipated to create a stir in 2024 due to its advantages for healthcare practitioners. It creates new content by streamlining the healthcare workflow with machine learning algorithms, such as individualized treatment plans.