Wearable devices have made our lives so much easier. From tracking footsteps to monitoring heart rate, everything seems convenient with the help of a wearable device. But, have you ever realized the massive impact wearables are creating in the healthcare industry? With the advancement of technology, healthcare now has greater access to data than ever before. The healthcare industry has seen significant changes as a result of wearable devices. Sensors, automated gadgets, and FDA-approved devices like Fitbit have revolutionized the diagnosis and treatment process while also allowing people to maintain their health.
What are wearable devices?
Wearable devices are electronic devices that are worn on the body to collect data about one’s health. These gadgets are simple to operate and can be worn as accessories or implanted a few times. Wearable devices have the potential to transform the healthcare sector, as it not only provides real-time patient data to the medical experts for effective treatment but also increase health awareness among individual. It provides accurate information about a patient’s health condition to suggest a diagnosis. The ability to collect and manage huge data over time and transmit it via wireless data transfers such as Bluetooth and Wi-Fi at a low cost is a primary reason for its popularity and one of the key drivers of digital transformation in the healthcare sector.
5 Wearable device trends that will digitise the Healthcare sector
According to a report by Global data, the wearable market is expected to become a $54B industry by 2023. The key trends in wearable technology will likely improve and revolutionise the areas of healthcare over the next few years. These key trends in wearable are discussed below in details.
1. Rise of personalised healthcare
Healthcare is transitioning from traditional medicine and diagnosis to a patient-centric, consumer-oriented model where the patient can seek medical help anytime. Wearable generate data and use it to enhance patient monitoring and diagnosis for caregivers without raising the consultation costs. This way of collaboration is opening new avenues for patients as well as partners and innovators. With the effective use of wearable devices, people will be motivated to lead a healthy life, followed by diagnostic and therapeutic capabilities guided by the user at the point of treatment.
2. Interoperability of devices
The rapidly growing demand for intelligent medical devices among customers calls for effective management of coordinated and complementary operations. Modern wearable devices promise to offer diverse quality sets for clinical decisions. Advancements in technology such as software enablement and hardware downsizing, wearable devices are becoming more interactive.
3. Smart hearing devices
Hearing devices are among the first wearable technologies developed to aid hearing loss. With the enablement of modern techniques, these hearing aids are getting a complete makeover with the implementation of attributes like entertainment resulting in the inception of smart hearing devices. While the features are new, smart wearable devices offer infinite possibilities in healthcare and fitness. Wearable devices today are laced with several attractive features such as heart rate measurements, sleep monitoring, counting steps and calorie tracking. Advanced technologies like virtual assistants, weather updates, language translators indicate a promising future for hearing aid device manufacturers.
4. Integrating Artificial intelligence and Machine learning in wearables
Artificial intelligence is becoming more prevalent in connected devices. It allows surgeons to use AR and VR during surgical procedures and training exercises to execute robotic surgery with more precision and minimal risk. Integration of virtual personal assistants in wearable devices can help in learning the health condition of the wearer and make data-driven decisions like human beings.
5. Smart mobile apps
Wearable devices connected with smart apps are now becoming a popular option in the healthcare arena. Developing applications using virtual reality, AI and the internet of things has opportunities for smarter devices that can perform almost every task with more accuracy. Smart apps integrated with wearable devices are enabling doctors to gather critical patient information from the different systems without wasting time and providing better medical advice.
Parting thoughts
The demand for wearable devices will significantly increase and pave the way for more personalised healthcare at a reduced cost. Medical devices manufacturers striving for deeper penetration in the fast-developing markets are bound to understand the latest development. Medical device manufacturers will have to leverage modern technology and improve wearable devices to cope with the competitive market and enhance the customer’s experience.
How MicroGenesis can help in improving wearable devices?
MicroGenesis has a long-standing history of working with notable multinational companies in the hearing implant and hearing aid industry as a specialist in hearing implant software testing. We also specialise in working on an advanced stroke rehabilitation system, predictive data analytics, data visualisation, with leading medical device developers to enhance the user experience of the end customers.
Our experts specialise in enhancing performance by leveraging digital strategies that are result-driven and cost-efficient. Our subject-matter experts comprise highly experienced business analysts, architects, test analysts for each client’s project requirement. We implement the best methodology that would be the best fit for your requirement.
To get more details or book a free consultation contact us
Digitization in medical devices is becoming a critical factor to remain competitive and gain the necessary momentum for enduring growth and profitability. Rising costs from health care providers and low returns from high investment medical devices are forcing the Medtech companies to explore new ways in improving their end results. Let’s discuss them in detail below
Drivers of digital transformation in MedTech Industry
There are several reasons that are making it necessary for established as well as new entrants in the field to implement digital strategies in their business and industrial DNA. These trends show no signs of reversing. Increased Cost: In the MedTech industry, increasing-price and competition continue to be a source of concern for executives. All stakeholder wants low-cost devices and meets regulatory processes. Furthermore, issues of rising out-of-pocket expenses (OOP), increasing patient demand is also soaring high. Patients often tend to skip treatment or pay high medical charges to avail of premium healthcare services. Prices for MedTech goods have continued to fall in the face of these pressures. To compete with lowering prices, these companies must not only offer superior features but also give outstanding value to patients and providers while keeping costs low. Strict regulatory norms: MedTech companies have to face additional regulatory constraints that increase operating expenses. The latest European Union Medical Devices Regulation (MDR), for example, will mandate a more complete review of product safety and performance, stricter clinical evaluation criteria, and increased device traceability across the supply chain. Finally, businesses may have to examine if certain items generate enough revenue to justify their continued existence.
Digital transformation trends that will dominate the MedTech sector
With the disruption of innovation, there are various opportunities in the healthcare industry to be explored. Companies opting to use digital techniques for innovation, must become well-versed in emerging digital trends and incorporate them into their organisations. Adopt new and thriving digital trends to stay ahead of the competition. So, what will be the future technology that will rule the healthcare industry? Let us analyse them in-depth.
1. Connected Devices and IoT
Smart, connected devices are becoming the go-to choices, and their importance in the healthcare industry has expanded dramatically. These connected devices will play a crucial role in the future of medical technology. Such connected devices allow patients to have real-time access to information and help caregivers seek immediate answers to problems that need immediate attention. The proliferation of connected medical devices along with IoT is also becoming popular in providing remote patient care and clinical research. With the help of connected devices understanding patient medical history and shape the clinical decision is possible even in a remote location.
2. Wearable devices
There lie tremendous opportunities to use wearable devices for improving patient care. As per a report, the global wearable medical devices market will grow by a CAGR of approximately 7% between 2021 and 2031. Today, smartwatches are not only limited to tracking footsteps but equipped with monitoring SpO2. Other forms of wearable devices are ECG monitors, blood pressure monitors, glucometers to detect anomalies and send reports to the doctors directly. Further, wearable devices will give opportunities to patients to proactively take care of their health and get health support immediately.
3. Health applications
Smartphones have become an integral part of our lives. As per a report, there are about 5.5 billion smartphone users in the world, and looking at the trend the numbers will continue to increase. People around the world devote most of their time browsing an app creating an opportunity for businesses to move to mobile applications – either IOS or Android to ensure business success. Further, it is also an opportunity for the MedTech companies to effectively utilize such a communication channel that can influence the masses. With the emergence of EHR/EMR systems, a customized mobile application can become a single point of connection between caregivers and patients. Data collected from mobile apps post valid authorization can be utilized to treat and improve patient care. Mobile apps can also be used to provide services such as teleconsultations and e-prescriptions.
How MicroGenesis can enhance the digital transformation journey for Medtech?
With the trends in the digital arena changing every minute and the urgency to offer the best healthcare service rising, the medical technology sector also needs to transition to next-generation services that offer the best to their customers. But for doing so, they need technical guidance and understanding of the latest happening in the sector. MicroGenesis can help by leveraging its industry-leading solutions and services and its extensive experience in the healthcare industry.Our experts have worked with multiple clients in the MedTech sector to enhance performance by leveraging digital strategies that are result-driven and cost-efficient. Our subject-matter experts comprise highly experienced business analysts, architects, test analysts for each client’s project requirement and implement the best methodology that would be the best fit for your requirement.To know about digital transformation in the Medtech sector contact us https://www.mgtechsoft.com/contactus/
Companies involved in the designing and manufacturing of medical devices must be aware of the stringent regulations and restrictions imposed by government officials. Medical devices are used for a wide range of purposes and can mean a matter of life and death for individuals who rely on them. Medical devices are directed by the FDA in the United States, and firms must obtain ISO 13485 certification before designing or assembling them.
What is ISO 13485 certification?
ISO 13485 cover several safety requirements that ensure the quality and safety of medical devices. Although every country has laid out their own set of protocols for medical devices manufacturers, ISO 13485 remains the most widely accepted in the Medtech industry.
ISO 13485 was designed to fix the updated quality management system techniques, such as technological advancements and regulatory needs and expectations. The new protocols emphasise risk management and decision making along with the changes related to rising regulatory requirements for supply-chain businesses.
What does ISO 13485 certification mean for organisations?
Getting ISO 13485 certified is critical for businesses. Organisations of all sizes have realised its importance in saving time, money and bringing in a strong and efficient Quality Management System (QMS). Listed below are the few benefits of getting an ISO 13485 certification.
1. Enhances credibility: ISO 13485 is an internationally recognised quality standard for the MedTech industry. Certification in this standard is proof for the customers and clients that maintaining quality is a top priority for your business opening avenues for more opportunities.
2. Satisfies more customers: Changing customer expectations is one of the important reasons enterprises are more focused on ensuring quality. Adhering to ISO 13485 standards ensures a set of quality management principles are followed to guarantee customer satisfaction. Furthermore, it also ensures clients keep coming back to you and helps you to market your services to new customers.
3. Enhances employee engagement: When employees are involved in handling critical matters like ensuring quality management and enhancing processes, they will not only suggest the most valuable knowledge but also feel elated to invest in the company’s success. A highly engaged team ensures they understand their role in delivering high-quality products and services which leads to improved efficiency and productivity.
4. Scope for continuous improvement: When adopted as a part of the company culture, teams look at more scope for improvement in enhancing the processes. Every team member focuses on delivering high-quality products and improve services to satisfy maximum customers or clients.
5. Improves decision-making: The use of evidence-based decision making is one of the prescribed guidelines laid out in ISO 13485 certification. When proper data facts are used to decide, they tend to be more aligned with the company’s goals. Tracking data also enables the team to improvise at a given point in time to improve productivity and delivery quality products.
How MicroGenesis ensures a standard Quality Management process?
MicroGenesis is a certified ISO 13485 organisation which means we ensure the right people, process and technology to produce high-quality medical devices. With our 20+ years of expertise in the MedTech domain, we have always put forward our best plans and process to help design, test and run critical medical products. Our superior engineering practises, highly qualified teams ensure to deliver high-quality products in the market. If you wish to know more about us, contact us: https://mgtechsoft.com/contactus
Technological advancements have opened numerous potentials for digital solutions and services to play a significant role in the healthcare industry. By leveraging the power of digital transformation healthcare sector across the globe has started to experience lower product costs, increasing patient engagement and improving outcomes. While multiple new entrants are seizing the opportunity and increasing competition, established healthcare and pharmaceutical organisations are struggling when it comes to implementing digital strategies in their business and industrial DNA.
There are several opportunities in the healthcare industry awaiting to get explored with the disruption of innovation. If the leaders choose to implement digital strategies for innovation they need to get well acquainted with upcoming digital trends and incorporate them into the business. Get ahead in the competition by adopting new and thriving digital trends. So, what are the new technologies that will dominate the healthcare sector? Let us analyse them in detail.
5 Digital Transformation Trends in Healthcare you need to know
1. Rise of Telehealth in healthcare
With the outburst of the Covid-19 pandemic, the need for safe and timely medical advice also increased which led to a rapid surge in the demand for telehealth. A recent report by Mckinsey states that in April 2020, overall telehealth utilization for office visits and outpatient care was 78 times higher than in February 2020. Although telehealth was introduced as a measure to curb the spread of the novel corona virus, this shift from the traditional approach of providing medical consulting to remote consulting was a successful measure to treat many of the vulnerable patients. Post-pandemic, this model will need few adjustments but will continue to grow as a new digital transformation trend in healthcare.
2. Rise of wearable devices
There lie tremendous opportunities to use wearable devices for improving patient care. As per a report, the global wearable medical devices market will grow by a CAGR of approximately 7% between 2021 and 2031. Today, smartwatches are not only limited to tracking footsteps but equipped with monitoring SpO2. Other forms of wearable devices are ECG monitors, blood pressure monitors, glucometers to detect anomalies and send reports to the doctors directly. Further, wearable devices will give opportunities to patients to proactively take care of their health and get health support immediately.
3. Artificial intelligence and machine learning
As a new-age technology Artificial intelligence and machine learning has huge scope in identifying and diagnose diseases in a better way. By leveraging Artificial intelligence and machine learning doctors will improve efficiencies in medical research and clinical trials and make operations more beneficial for the patients.
4. Robotics
Robotics is changing the way healthcare professionals work. Robots are now assisting surgeons with tasks in the operating room. With the healthcare business predicted to grow at a rapid pace, the global medical robots’ market will undoubtedly expand, allowing robots to perform a wide range of jobs. This involves treating patients in remote locations, delivering medical supplies, sanitizing facilities, and changing how the healthcare systems functions in order to improve patient care.
5. Telemedicine
By increasing accessibility and efficiency through reducing the need for travel, providing clinical support and geographical restriction, telemedicine has the potential to revolutionize the way healthcare is delivered to patients. Development in this trend of digital solutions will further improve the delivery of medical consultation across all sections of the population, medical costs and rising consumer demand.
How MicroGenesis can enhance the digital transformation journey?
With the trends in the digital arena changing every minute and the urgency to offer the best healthcare service rising, the healthcare domain also needs to transition to next-generation services that offer the best to their customers. But for doing so, they need technical guidance and understanding of the latest happening in the sector. MicroGenesis can help by leveraging its industry-leading solutions and services and its extensive experience in the healthcare industry.
Our experts have worked with multiple clients in the healthcare domain to enhance performance by leveraging digital strategies that are result-driven and cost-efficient. Our subject-matter experts comprise highly experienced business analysts, architects, test analysts for each client’s project requirement and implement the best methodology that would be the best fit for your requirement.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
