The big trends to watch in the medical device industry

The healthcare market has been growing rapidly since the outbreak of Newcastle pneumonia, which has grown at a rate of 10-14%. The market growth barely exceeded 4% before the pandemic in 2019. In response to the unprecedented challenges posed by the pandemic, medical device manufacturing has widely implemented solutions with disruptive innovations such as artificial intelligence (AI), machine learning, and 3D printing. As a result, healthcare companies and public hospitals have changed the way they manage data and treat patients. To help you keep up with emerging trends in the medical device industry, below we share the technology trends that will grow in specific markets in the future.

Cybersecurity

The number of cybersecurity attacks against healthcare organizations doubled in the first half of 2022 compared to 2021. According to the survey, small and medium-sized hospitals are most vulnerable to cyber attacks because of the lack of cybersecurity expertise among their staff. This is why medical device manufacturers must continue to be vigilant in designing user-friendly medical device products that are resistant to cybersecurity risks.

Another factor related to cybersecurity is the interconnectivity of medical devices within a hospital. The wider the healthcare network, the more vulnerable it is to attack. While cyber attacks start with one device, with more network connectivity and mobile tools, attacks can easily and quickly spread to other devices on the network, increasing the scope of cyber attacks.

To protect against cybersecurity risks, medical technology companies can enhance their authentication programs. When users enter data or connect to external servers, companies can use mechanisms to verify authenticity. It is also helpful to restrict access when non-designated devices connect to on-site servers. In addition, regularly checking data from external sources for compliance with applicable protocols can also be effective in mitigating cybersecurity risks.

5G Technology

In recent years, healthcare providers have benefited greatly from the vast amounts of digitally stored data. Nevertheless, previously they still had difficulty connecting medical experts such as physicians, researchers and healthcare companies with the data drivers needed for critical decisions. Now, they can access this information using 5G technology.

5G networks simplify real-time data transmission, which is critical for rapid and accurate diagnosis. 5G devices are two to five times faster than Wi-Fi or 4G-based devices.

In general, 5G networks expand the possibilities for remote patient monitoring. For example, this technology was applied in the country at the beginning of the New Coronary Pneumonia pandemic. At that time, hospitals had to diagnose infected patients in remote areas in real time from very far away. However, the medical imaging files acquired from MRI and CT were too large to be transmitted for remote analysis. This situation prompted engineers to equip CT scanners in remote hospitals with 5G.

Typically, 5G applications are targeted at people living in remote areas with limited Wi-Fi connectivity, as well as older adults who are suitable for treatment at home. In addition, suburban hospitals that lack expertise often use 5G devices to connect to urban clinics. With these tools, healthcare providers can consult with specialists during treatment and transmit high-quality surgical microscope images for immediate feedback.

3D printing devices

Due to the epidemic, most areas were sealed off and the number of employees was reduced, leading to disruptions in the international supply chain. As a result, additive manufacturing and 3D printing manufacturing began to grow rapidly. According to business research reports, the global 3D printed medical device market is expected to reach $4.5 billion by 2026, growing at an annual rate of 13%.

Additive manufacturing has significantly streamlined the supply chain in the healthcare industry. To replace imported medical devices, hospitals and medical facilities can manufacture the necessary components and equipment within the hospital. Using 3D printers, doctors and biomedical engineers digitally create custom prostheses, implant joints and surgical instruments. These technologies are expected to continue to proliferate in the coming years.

Artificial Intelligence and Machine Learning

Artificial intelligence and machine learning algorithms also play an important role in current trends in the medical device industry. As the number of medical devices in medical facilities increases, so does the usefulness of these technologies.

New AI and machine learning capabilities provide healthcare workers with new, important and immediate insights derived from the ever-growing amount of medical record data. As a result, these tools improve diagnostic decisions while providing highly accurate treatment modalities. In addition, with the help of artificial intelligence, physicians can develop more effective interventions.

In the past few years, medical device manufacturers have adopted AI technologies to rethink their product development. This primarily involves the use of software as a medical device (SaMD) for chronic disease management and healthcare management. in 2022, AI will be used primarily to detect and treat oncology, cardiology, geriatrics and endocrinology diseases, including diabetes.

Medical Robotics

As the global nursing shortage intensifies, some medical device companies are developing robots to help nurses with their tasks. The need for additional care intensifies during a pandemic. According to a two-year survey on the impact of the new coronary pneumonia conducted by the American Nurses Foundation, 52% of U.S. nurses have considered leaving their jobs due to overload and burnout. In fact, many countries are doing the same.

The introduction of robots in healthcare facilities could free medical staff from routine tasks such as performing venipuncture, monitoring patient vital signs, lifting elderly people out of their beds, sterilizing rooms and prepping them.

Researchers developed a remotely controlled medical robot in 2022 for patients in isolation at home. This remote assistant protects health care workers from the risk of contamination from infected patients.

In addition, robotics is widely used in the field of psychiatric care to help patients recover from trauma.

The new crown pneumonia pandemic has largely reshaped the medical device market. The ensuing digital disruption in the industry has redesigned healthcare delivery, data management and the supply chain.

Current medical device technology trends stem from key challenges facing the industry, including tight labor markets, increased hacking, logistics issues, and the risk of misleading diagnoses. Medical device innovation will continue to revolutionize the market in the coming years.