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Healthtech 2023: What are the Experts Predicting?

Healthtech 2023: What are the Experts Predicting?


Healthtech is one of the fastest growing verticals within Healthcare, experiencing an average growth of 5% in recent years. In the UK, there are more than 4,300 Healthtech companies employing 145,700+ people, with a combined turnover of £30bn. The growth of the Healthtech industry is anticipated to continue in 2023, and in this article, experts from across the industry have shared their predictions on the trends they’ll be expecting to see next year.
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Editor: PharmiWeb Editor Last Updated: 13-Dec-2022

Healthtech is one of the fastest-growing verticals within Healthcare, experiencing an average growth of 5% in recent years. In the UK, there are more than 4,300 Healthtech companies employing 145,700+ people, with a combined turnover of £30bn.

The growth of the Healthtech industry is anticipated to continue in 2023, and in this article, experts from across the industry have shared their predictions on the trends they’ll be expecting to see next year.

Adrian Sutherland, Senior Architect, Endava

Genomic analysis and quantum simulations will help fuel breakthroughs.

The data size, low cost to capture and clinical potential of genomic data means that the systems that can analyse these data sets efficiently will become more and more important. Opportunities will progress for use cases such as cancer diagnoses based on liquid biopsies, predicting cancer progression and improving gene editing tools potential (e.g. CRISPR). As this technology takes hold, we’ll see different data united such as genomic and facial features to create AI models that can predict generic disorders from facial features alone.

Quantum simulations also present numerous medical applications, from fast drug design (e.g. molecule/compound screening), real-time (or even faster) medical simulations (imagine “in silico” clinical trials with virtual humans) and super-fast whole genome sequencing and analytics. While 2023 is unlikely to be the breakthrough moment, ongoing research and applications in clinical simulations will push quantum simulations’ potential forwards in the real world.

Roland Harvey, Enterprise Account Executive, LogicMonitor

As we move into the new year, the NHS will become increasingly reliant on technology to deliver healthcare. Like many organisations, the NHS has suffered from legacy and outdated technology. It’s not helped by the fact that hospitals, GP clinics and other health services are not always connected and there can be a number of disparate systems that should be connected but aren’t. Reconciling systems can be a real challenge and a lack of intelligent IT management tools across the board can lead to teams missing important infrastructure degradation. In extreme cases, poorly managed systems can actually impact patient wellbeing—especially if test results and other crucial information are not accessible and communicated in an appropriate timeframe.

At the same time, if there’s an error in any part of the IT infrastructure that these clinical applications run on, it can be very hard and time-consuming to pinpoint and fix the issue. With so many applications and so many people adding solutions and products independently, it can become a sprawling mess. There needs to be a way to properly view applications and the associated IT infrastructure they rely on to understand exactly what is working and what isn’t. Performance must be visible and clear in real time, with the ability to see degradation ahead of outages to prompt teams to take action before it affects clinical applications and the patients.

The key then, is to implement unified observability. This could be in the form of a simple dashboard which monitors performance and issues, using a traffic light system to both highlight problems and let people know all is well. It’s especially critical that this be easy to understand for laypersons—administrators and directors at NHS trusts and other NHS operations may not actually be qualified IT professionals and will need simple, intuitive ways to understand performance. This can and should also be predictive as well as reactive.

Dr Simon Wallace, Chief Clinical Information Officer, Nuance

During the pandemic, the use of the NHS App exploded in popularity. In fact, it was the most downloaded free application in the UK in 2021 and hit over 22 million users at the beginning of this year. Whilst the primary reason for this was the public need to demonstrate vaccination status to visit restaurants and travel to certain countries, the ease and speed at which this modern piece of technology became an integral part of modern medical practice has provided an accelerated boost towards a key building block for the digital future of healthcare in the UK.

In 2023, it is likely that this person-focussed digital front door will open even wider, as hospitals and Integrated Care Systems across the country work with both the NHS and government to further develop and launch similar patient applications and portals. In theory, these new channels should improve the patient experience by ensuring that anyone with access to a smartphone or computer is able to access the health care they need, when they need it. This includes full access to their healthcare records.

This digital front door will also extend to health accessories and at-home monitoring. Wellness and fitness trackers, for example smart watches, have become a part of everyday life for many consumers. As we move into 2023, the next step will be to utilise these accessories to modernise at-home care and improve digital practices. The data these devices gather could enable healthcare organisations to deliver improved and even personalised experiences. In other words, if utilised effectively, they could help ensure that effective healthcare is easier to access than ever before.

Dr Jason Lee, The Open Group Healthcare Forum Director

When you listen to many discussions about the Fourth Industrial Revolution (4IR), digital transformation data can sound like a panacea. For everything from safety in manufacturing environments, to efficiency in financial services infrastructure, to improving time-to-market for fast-moving consumer goods, we hear that “more”, “bigger”, and “smarter” technologies are the answer to business advances.

To a large extent, this makes sense: many of the sophisticated, data-intensive technologies we loosely group under 4IR are having startling effects on how work is done, what services are delivered, and consumer expectations.

Ironically, tragically even, the industry that, arguably, affects people’s wellbeing most directly—healthcare— has amongst the lowest rates of adoption digital transformation and advancement of information technology.

The major reasons for this are the relative complexity of the data involved - with standardisation across intricate and nuanced detail often a remote possibility - and the reluctance of organisations to share the data they do have.

The health benefits of enhanced adoption of 4IR technologies, most notably sharing secured health information so it is available when and where it is needed, will carry the industry forward. In addition, from robotic surgery which accelerates recovery time to AI-guided diagnostics which personalise medication recommendations, 4IR technologies will improve healthcare systems at a time when funding and skills shortages imperil the delivery of quality care to populations.

I believe that in the coming year we will continue to see systemic pressures driving the need to adopt a more thorough-going approach which, rather than attempting piecemeal transformation, treats digitalisation as a holistic solution to a wide range of problems facing the healthcare industry. The process won’t be easy—and will benefit from drawing on the skills and knowledge of Enterprise Architects to bring clarity and enriched understanding to the complexity of healthcare delivery - but the prize will be worth it.

Tien Tzou, CEO and Founder, Zuora

Healthcare will be a next major industry in the subscription economy: In 2023, expect to see more opportunities emerge for companies to create and monetize direct relationships with patients through connected devices. This past year, we saw Amazon acquire One Medical, and leaders like Apple, Google and Microsoft all have direct-to-consumer offerings to support healthcare.

In 2023, we will see even more companies exploring healthcare-as-a-service to provide their subscribers with new offerings (think Amazon Prime for healthcare). Although access to healthcare data opens up possibilities to provide new services to subscribers, these companies must prioritize privacy and build trust over time.