Top 3 Health Tech Trends for 2022

The health tech industry has been on the rise in recent years, especially since the pandemic hit in 2020. Technological companies had to fast-track their processes and allocate more funds for investment in research to keep up with the demand created by COVID-19.

In this article, I will examine the top 3 trends for 2022 that have significantly impacted the health sector.

Internet of Medical Things (IoMT)

The Internet of Medical Things is an extension of the Internet of Things (IoT), relating particularly to its application in healthcare. It merges medical devices and applications that connect to healthcare information technology systems using networking technologies. It also helps medical institutes with valuable patient information and better healthcare services. 

Daily, the healthcare sector generates data from patients that, in previous years, were likely discarded rather than being used to gain a better perspective of the patients. With the advent of the internet, there has been a gradual change in the landscape, and most of the data currently generated are from IoMT-enabled devices and products. Because the data is easily stored and retrievable, it can be utilised to ensure patients receive data-based care. Likewise, information about a patient can be easily accessed and applied to another patient having a similar challenge.

In a report by Mordor Intelligence that grouped the IoMT market based on product, device type, connectivity technology, end users, and region, the IoMT market is likely to experience a compound annual growth rate of 23.4% over the next five years. The Internet of Medical Things (IoMT) industry will be worth  $1319.08 billion by 2026.

Benefits of IoMT

• There is a lower risk of error with IoMT as it allows healthcare practitioners to make informed decisions based on real-time data rather than depending only on experience
• With the application of IoMT, healthcare professionals arrive at more accurate diagnoses, resulting in lowered services costs, as precise treatment rather than empirical treatment can be done in earnest
• It creates ease of transfer of patient information to the medical doctors, pharmacists, nurses and other healthcare professionals involved in their care. The ease it brings is essential in the management of chronic illnesses
• For patients in remote areas that are not easily accessible or with whom direct contact is not advisable, as in COVID-19, IoMT allows them to receive the best possible care available
• It provides a real-time understanding of patients’ health at every point once the product or device is in use

Some companies taking the lead in this healthcare revolution include Medtronic, Biotronic, Philips, Abbott, Cisco, Boston Scientific Corporation, GE Healthcare, Abbott, and IBM Corporation.

In IoMT, the common device types used are wearable devices, implantable devices, and stationary devices. It has found useful applications in cardiac conditions (hypertension), respiratory diseases, diabetes, Parkinson's disease and mental conditions such as depression.                                                                                   

Remote Patient Monitoring (RPM)/Telemedicine

Remote Patient Monitoring involves the medical personnel observing patients and observation of patient-specific data through medical devices from another location by medical personnel.

RPM can track the following common conditions, signs, and symptoms:

• Hypertension
• Weight Loss/Gain
• Chronic Obstructive Pulmonary Disease (COPD)
• Asthma
• Diabetes

With RPM/ Telehealth, ample time is spent with the patient to ensure information shared is to the understanding of the patient. Like every technological innovation, the customer needs to understand how it works and learn how to use it for themselves.

Patients also need to understand the overall goals that will be made possible with the data obtained, such as better management of medical conditions and the creation of a reliable database to help better understand diseases within a specific location. 

Benefits of Remote Patient Monitoring (RPM)/Telemedicine

• It provides medical personnel access to patients outside the window of their scheduled appointments, allowing for prompt and effective management of diseases in real-time
• RPM allows patients to better understand their conditions and the impact of therapies and puts them in a better position to offer worthwhile contributions to their care
• Data generated from RPM provides a basis for conversations between patients and healthcare professionals and makes intervention proceed more easily 
• The innovation allows for reduced costs of hospitalisations, as patients' hospital stays can be cut short, and they can go home readily alongside a suitable device
• With Telehealth, patients in inner cities and rural communications can have better overall health outcomes as the distance barrier is done away with
• There is a reduced risk of nosocomial infections as hospital stay is grossly reduced
• Once implemented, the data generated will help improve understanding of disease conditions and boost preventive management measures

Some of the top companies involved in RPM are Biofourmis, ResMed, Dexcom, Senseonics Holdings, Biotricity, and Vivify Health. 

Extended Reality (XR):

Extended Reality (XR) is an umbrella term that incorporates Augmented Reality (AR), Mixed Reality (MR) and Virtual Reality (VR). While VR is entirely composed of a virtual environment, AR and MR use a mixture of virtual and real images. They utilise machine learning and artificial intelligence to create solutions to many health problems.

One of the biggest success stories is the AccuVein device made using AR technology by overlaying virtual images of the inner vein structure on the skin for easy access. 

Locating the vein is crucial in administering Intravenous medications to patients, but it can be a burdensome experience. The advent of AccuVein makes the process of vein location seamless and convenient for both the medical professional and the patient. Alongside other innovations, courtesy of XR, the practice of medicine is redefined. 

Benefits of Extended Reality (XR)

• Virtual Reality (VR) has found relevance in training surgeons and doctors without having them be in direct contact with human bodies and possibly causing harm
• It is used as an alternative therapy in autism for developing coping skills
• It can be useful in diverting the attention of patients going through excruciating pain away from the symptoms, as in the case of cancer
• It is an avenue through which doctors and surgeons can practice before conducting the surgeries
• Extended Reality (XR) can be utilised in promptly diagnosing patients’ conditions, as seen in bone fractures. It can also be used to describe the processes involved in conducting the surgery on the patient

Some of the top companies involved in Extended Reality (XR) are Microsoft, FundamentalVR, ImmersiveTouch Inc, Layar, and Augmedix,   

Conclusion 

The use of technology in healthcare is here to stay. By applying technology from diagnosis to management of diseases, patients generally experience improved outcomes.

More investment is expected to go into healthcare in the coming years based on the trends, as reported by Deloitte. Moreso, more patients, healthcare professionals, and caregivers will embrace technology in healthcare, especially after learning of the impact and how it would make their life and work processes easier. 

Sources:

1. Internet of things (Iot) market worth $1319. 08 billion, globally, by 2026 at 25. 68% cagr: verified market research. Research VM.
2. Remote patient monitoring implementation playbook overview. American Medical Association.
3. Telehealth and remote patient monitoring | Telehealth.HHS.gov.
4. Internet of medical things market growth, size | 2022-27 | analysis. Mordor Intelligence
5. Trends in health tech investments. Deloitte Insights.
6. Virtual Reality Social Cognition Training for children with high functioning autism. Computers in Human Behavior. 2016;62:703-711.
7. Internet of medical things market | iomt industry statistics, segments analysis | forecast - 2027. Allied Market Research.