Explore the Top 10 Next-Gen Healthcare Trends in 2024
In 2024, the healthcare landscape is anticipated to witness remarkable modifications. Today, healthcare is not merely a service but a dynamic and evolving ecosystem shaped by natural and human-induced factors. The epidemiological shift from communicable to non-communicable diseases, presenting new challenges and opportunities for healthcare providers coupled with an increasing aging population reflecting changes in global health patterns are driving this industry for growth. The seamless integration of Artificial Intelligence (AI) and Machine Learning (ML) in every facet of healthcare, from early detection to personalized medicine, has revolutionized patient care and redefined the fundamental concept of healthcare itself. The healthcare revolution of 2024 is where innovation meets compassion, and the convergence of technology and medicine transitions from a reactive model to a proactive one, emphasizing preventive measures for the broader population. Here, we delve into the top 10 trends that are reshaping the boundaries of healthcare in 2024.
AI-Driven Personalized Medicine
AI-driven personalized (also known as precision) medicine is a novel healthcare approach that uses AI technologies to customize treatment regimens based on the phenotypical and genotypical traits of patients. It evaluates the genetic composition, lifestyle, environmental effects, and others as significant factors in identifying the most suitable treatment strategies. It comprises basic applications such as predictive analysis to advanced applications including genomic analysis. Approximately 85% of healthcare facilities, life science and pharmaceutical companies, healthcare IT, and tech firms are currently using AI for a diverse range of services like medical devices, diagnostics, drug development, and testing among others. Radiology discipline accounts for around 75% of AI-driven devices making it the most promising avenue. The global AI healthcare market is anticipated to steadily increase in the next 5 years representing an evolution from conventional one-size-fits-all medical approach towards a more efficient and tailored healthcare model.
IoMT (Internet of Medical Things)
The concept of everything happening at the click of a button has been integrated into healthcare. The Internet of Medical Things (IoMT), a subset of IoT, is a network of medical equipment, healthcare systems, and applications that share data via the Internet. It covers an extensive range of smart devices and technologies designed to acquire, transmit, and analyze health-related data for different purposes, ultimately improving patient care, monitoring, and management. Around 60% of healthcare facilities around the globe have already implemented IoMT to an extent in the form of medical sensors, implants, smart pills, and wearables for gathering remote patient metrics such as blood pressure, glucose levels, and other vitals like oxygen saturation, allowing for their seamless transmission. As the IoMT ecosystem progresses, with applications like smart insulin pumps (used by more than 40% of hospitals and clinics), connected pacemakers, and others, it can promote healthcare efficiency, lower costs, and enhance overall patient outcomes.
Augmented Reality (AR) and Virtual Reality (VR) in Healthcare
In a labor-intensive industry, the advent of AR and VR has brought fresh insights to the market. These hardware and software technologies have seen substantial use in the healthcare industry, influencing the practices of medical professionals, the process of care delivery for patients, and educational modalities for students. AR is frequently utilized in medical training and learning through realistic simulations and holographic projections of the human body for skill development. According to component segmentation, hardware captures around 61% of the global market share, and AR, as a technology, is more prevalent globally at about 57% compared to VR. With ongoing technological advancements, the significance of AR and VR in healthcare is anticipated to grow in the next twelve months, playing an important role in improving patient outcomes, providing advanced training for healthcare professionals, and introducing innovative methods for medical interventions.
Blockchain in Healthcare
Increasing dependence on healthcare technology, such as Electronic Health Records (EHR), requires robust measures to ensure the security of data. It supports transparency and efficiently manages health-related data. Blockchain's autonomous qualities have applications across different domains of the healthcare system, such as medical histories, diagnostic tests, treatments, storage, and removal with detailed permissions, thereby minimizing the risk of unauthorized access or data breaches. This technology has currently secured more than 25% of the supply chain management system in healthcare facilities globally. However, pharmaceuticals and medical device firms are the most common end users accessing around 40% of blockchain technology currently. Therefore, the utilization of blockchain in healthcare is transforming the industry by solving persistent issues related to data security, interoperability, and data management. Its implementation in 2024 is propelling the healthcare sector marked by transparency, collaboration, and efficiency. This, in turn, is expected to enhance patient outcomes and improve the healthcare infrastructure.
Concept of Digital Twins
Twin as the term suggests stands for the same or a replica which is now popularly used in the context of the healthcare system. It requires building a digital illustration of individual patients, organs, or even the entire healthcare industry. These virtual replicas amalgamate data from diverse sources, including electronic health records, diagnostics, and continuous monitoring devices like wearables. For individual patients, digital twins provide a dynamic representation of their health status, enabling healthcare professionals to track changes over time, model probable treatment outcomes, and customize therapies. On a larger scale, about 50% of global healthcare companies have started employing digital twins to generate virtual representations of their operational procedures, refining workflows, and improving their overall effectiveness by approximately 10%. Siemens Healthineers currently generated a digital twin for a radiology department to cut down the turnaround time. Similarly, using digital replicas, hospitals like Mater in Dublin have improved the capacity of MRI and CT scans by more than 25%. This allows healthcare providers to make evidence-based decisions, resulting in improved patient outcomes, lowered costs, and a healthcare system that is more robust and adaptable.
Focus on Population Health Management (PHM)
The COVID-19 pandemic has shifted the treatment landscape from curative and palliative care to preventive and prophylactic approaches. PHM is a component that redirects attention from conventional symptomatic care to a proactive model. It highlights the systematic management of health conditions and influences on a specific population, taking into account both medical care and social determinants of health (SDH). The incorporation of advanced analytics, AI, and big data into PHM empowers healthcare providers to recognize and address health disparities, predict disease patterns, and implement specific interventions to enhance the health outcomes of entire populations. In 2023, the demand for PHM services was around 51% of the global population. The convergence of technology with a holistic approach to healthcare through PHM is resulting in a fundamental change, promoting efficiency, cutting down on healthcare expenditures, and ultimately establishing a more robust and patient-centered healthcare system.
Gene Editing
In 2024, gene editing technologies will be at the epicenter of transforming healthcare by providing unique abilities to precisely design and manipulate the human genome. This approach driven by CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) - Cas9, is enabling scientists and researchers to precisely edit, add, recombine, or delete specific DNA sequences with remarkable accuracy. This introduces new prospects for addressing extremely prevalent genetic disorders such as Spinal Muscular Atrophy, Gaucher’s disease, Mucopolysaccharidoses, Thalassemia, and others at their root cause. Depending on the technique, it has a success rate ranging from 5%-60% in preclinical studies. End users such as Biopharma, Clinical Research Organizations (CRO), and Research Institutes capture about 45% of the gene editing market. With the ongoing advancements in these technologies, gene editing is positioned to be a cornerstone of personalized medicine, providing customized treatments based on an individual's distinct genetic composition. This evolution is set to revolutionize the healthcare landscape in 2024 and beyond.
Robotics in Patient Care and Workflow
The mainstreaming of robotics in healthcare has changed the bidirectional process of care delivery. The application of robotics in patient care has diversified from conventional surgical uses to include diverse functions, including medication delivery, patient monitoring, routine workflow operations, and others. Hospitals and care facilities are increasingly utilizing robots for daily tasks for example the TUG robotics by Aethon, enabling healthcare professionals to concentrate on other aspects of patient care. Within healthcare workflows, the integration of automated systems is restructuring processes, promoting efficiency, and leading to improved patient outcomes. Operations such as dispensing medicines, inventory management, and routine laboratory procedures are being automated, reducing the potential for errors and accelerating the delivery of healthcare services. Additionally, in surgical environments, there is a growing prevalence of robotic-assisted procedures that provide surgeons with increased expertise and flexibility. Around 15% of surgeries annually are robotically conducted around the globe using the Da Vinci system. With the ongoing evolution and integration of robotics into diverse aspects of healthcare, the industry is experiencing a shift towards care that is more automated, efficient, and patient-centered in 2024.
3D Printing in Healthcare
3D printing is modifying the way human tissues, medical devices, and even prosthetics are designed and manufactured. Utilizing 3D printing technology, patient-specific implants like those for hip or knee replacements are created with precision, ensuring an enhanced fit and improved functionality. This personalized approach also extends to the development of anatomical models for surgical planning such as tumor resections, enabling surgeons to practice and perfect procedures before conducting them on a patient, thereby advancing surgical precision. By end users, hospitals and surgical centers are currently using 45% of all 3D printing services. Moreover, it has branched out into several segments, where the external wearable devices printed segment is most prevalent at 38%. The influence of 3D printing on healthcare goes beyond conventional manufacturing methods, introducing precise solutions, and innovation in 2024.
Value-Based Healthcare (VBH) Models
The paradigm shift from a conventional fee-for-service to a value-based model is shifting the focus from over-service provision to quality care. With a value-based model, healthcare providers are incentivized to emphasize preventive measures, early intervention, and prompt treatment, reducing the need for costly intervention and unnecessary hospitalizations, and fostering a more comprehensive and patient-centered approach. Sweden is the most successful country that has implemented this model across 21 regions for specialized services like knee and hip replacement. It is followed by Singapore, Germany, Australia and others. The key feature of this model is that it removes the incentive for over-provision of services and minimizes the issues of cost-shifting, quality skimping, and cream skimming. Healthcare providers in 2024 are increasingly adopting value-based methods, to promote patient satisfaction, improved health outcomes, and a healthcare system that is more sustainable and efficient.
Conclusion
The healthcare revolution of 2024 is characterized by a dynamic synergy between cutting-edge technologies and innovative ideas that are reshaping the industry. From personalized precision enabled by AI-driven healthcare to the tangible impact of 3D printing and the patient-centric focus of value-based care, this year prioritizes individual well-being and proactive healthcare practices. The integration of digital twins and the potential of gene editing signify a paradigm shift towards customized and preventive medicine. Robotics and augmented reality in patient care redefine healthcare workflows, emphasizing efficiency and accuracy. As we navigate this landscape of rapid advancements, the healthcare industry is not merely adapting; it is flourishing at the forefront of novel developments, promising a future where healthcare is accessible, tailored, and, above all, dedicated to improving lives.