The Future of Healthcare Tech: What to Expect in 2024

2024: The Year of Healthcare Tech Revolution

Hey folks, let’s talk about the future of healthcare tech! The COVID-19 pandemic really shook things up for the healthcare industry, and it pushed us to bridge the digital gap. The solution? Rapid digitalization of healthcare, which opened up new ways of working and tackling challenges. In 2023, we saw a surge in investments in healthcare technology, especially in areas like healthcare financing, personalized healthcare, clinical decision support, and AI-assisted medical imaging.

The healthcare industry has come a long way in embracing artificial intelligence and cutting-edge technology since 2015. In less than a decade, it has transformed from being wary of tech to leading the charge in tech adoption.

Looking ahead to 2024, I’m convinced that it’s going to be a game-changer for the healthcare industry. The scale at which digital technologies are being adopted and the diverse use cases they enable are truly remarkable. Over the past five years, we’ve seen rapid digitization of healthcare data and substantial investments by big tech companies. Now, it’s time to leverage these investments to improve patient outcomes and reduce healthcare costs.

So, what can we expect in 2024? Here are five major healthcare trends that will reshape the industry:

1. Artificial Intelligence – Edge computing, a subset of AI, is set to move beyond the innovation stage and become a standard practice. This means that computing and decision-making will happen at the point of data collection, reducing the reliance on cloud computing. For instance, surgical robots will be edge-enabled, allowing critical operations to proceed without internet or cloud connectivity. Healthcare providers are projected to spend around 10.3 billion on Edge by 2025, with a 17% annual growth rate.

2. Data Protection and Cybersecurity – With the digitalization of healthcare and the integration of new connected medical devices, data privacy and cybersecurity will be top priorities for healthcare organizations and governments in 2024. More than 65% of healthcare organizations consider cybersecurity their top IT infrastructure challenge. The emergence of AI and machine learning in cybersecurity will revolutionize how we safeguard our digital assets.

3. Genomics – We’ve reached a point where DNA can be decoded into digital code for diagnosing, treating diseases, and developing personalized medicines. Advancements in genomic research are now more efficient, thanks to the computational power of AI.

4. Wearables & IoT – By the end of 2024, there could be over 207 billion devices connected to the global network. Smartwatches with Generative AI are already acting as fitness assistants and personal coaches. Examples like Microsoft Bag and Humane AI pin use generative AI along with wearables.

5. Telehealth – The pandemic has transformed healthcare from point-of-care to point-of-need, making patients the focal point of healthcare. Telehealth allows patients to receive care and health advice from the comfort of their homes, breaking geographic boundaries. For instance, blood sample collection is now predominantly done at home, eliminating the need to visit a testing lab.

We’re in the midst of a healthcare revolution, and digital technologies are paving the way for new use cases and disruptions. In 2024, Generative AI will integrate into wearables, offering highly personalized experiences and driving progress in genome research. Patients will take center stage in the healthcare ecosystem, with DNA-based treatments promoting greater care equity and personalization. Additionally, robotics will play a more significant role in surgeries, thanks to advancements in edge computing.

The next 12 months will lay the groundwork for a new healthcare ecosystem that will fundamentally change how healthcare experiences are delivered for the better.