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Next generation “smart” MedTech devices
Preparing for an increasingly intelligent future
Exponential technological progress is advancing scientific knowledge, reducing costs, and presenting the health care and life sciences marketplace with innovative medical devices and procedures that diagnose, monitor, and treat patient conditions.
Five important building blocks of exponential technological progress are:
- Increased computing power
- Large data storage capacity
- Hardware miniaturisation
- Network connectivity
- Advance software capability
Many industry players - both traditional medical technology (MedTech) organisations and new market entrants – are capitalising on recent and emerging technological advancements and providing novel health care solutions using mobile health (mHealth) applications, sensor technology, data analytics, and artificial intelligence. Venture capital investments, which fuel development of innovative MedTech products, have grown steadily over the last decade, especially in the areas of bioinformatics and biosensors.