Recently, I had the opportunity to attend the highly anticipated sTARTUp Day, an annual event that brings together startups, investors, and industry professionals from around the world. As a Key Account Manager in the healthtech industry, I was particularly excited to see what innovative solutions and ideas were being presented to address some of the most pressing challenges facing our industry today.
From AI-powered diagnostic tools to microchip technologies that measure microflora, the range of startups and ideas showcased at sTARTUp Day was truly impressive. However, I was especially impressed by the work of Haut.AI, a company based in Estonia that is revolutionizing the beauty industry, and Cellbox and Silklytics, whose products have tremendous potential for use in a variety of industries, from agriculture to healthcare.
In addition to seeing these amazing startups in action, I also had the opportunity to network and connect with other professionals in health tech and other industries. These conversations gave me valuable insights into the latest trends and developments in the field.
First and foremost, healthtech is a rapidly evolving industry that constantly pushes the boundaries of what is possible. As we approach 2023, the healthcare industry is getting ready for some big improvements in medical technology. These new trends will change the way healthcare services are provided, making them better and more affordable. The focus will be on preventing health problems before they get serious and finding them early on.
Of course, I have been in this space with Thorgate for a while now and had these ideas already brewing, but as a result of my experience at sTARTUp Day, I have put together a list of the top three trends in healthcare technology. These trends will help healthcare providers to identify and diagnose illnesses at an early stage, predict and prevent diseases before they become severe, and improve overall patient outcomes.
Picture Source: https://unsplash.com/photos/jIBMSMs4_kA
Trend #1: Artificial Intelligence (AI) and Machine Learning (ML)
AI and machine learning are the buzzwords in healthcare technology, and for good reason. They can analyze vast amounts of data quickly and accurately, enabling healthcare professionals to make better diagnoses, identify health risks earlier, and develop more effective treatment plans. For example, one very exciting field of AI in healthtech is computer vision, where computers analyze image and video data to extract or extrapolate data. Computer vision can be used for:
- Diagnostic imaging: Where AI analyzes medical images such as X-rays, CT scans, MRI scans, and even ultrasound imaging to detect any potential medical conditions.
- Telemedicine: Using computer vision, remote medical professionals can utilize computer vision to analyze images taken on a patient's smartphone. The potential for 3D computer vision in this field is also astounding, where someone could take a 3D image of their condition using an app that could then be analyzed by powerful AI algorithms.
- Medical robotics: Computer vision could assist in ensuring precise control of robotic surgical instruments.
Thorgate has been building healthtech software for the last ten years and has found that python is the preferred language for AI and ML development in healthtech, thanks to its extensive libraries and the ability to incorporate other coding languages. For instance, it can be coupled with OpenCV — the Open Source Computer Vision Library, which is written in C and C++ — so that it can work with images and video directly. We’ve built some excellent e-health products in the past few years that demonstrate how we harness the power of Python to digitalise healthcare.
Trend #2: Internet of Medical Things (IoMT)
The above image shows sensors used by Nordic Brain Tech which have developed a biofeedback system to treat migraines with the help of Thorgate
The Internet of Medical Things (IoMT) is a network of medical devices, wearables, and sensors that are connected to the internet and can collect, transmit, and analyze data. This technology is expected to have a significant impact on the healthtech industry in 2023, providing new ways to monitor and manage health.
One of the key benefits of IoMT is its ability to enable remote monitoring of patient's health. This means that healthcare professionals can track patients' vitals, medication adherence, and other health metrics remotely, reducing the need for frequent in-person visits. This can improve patient outcomes and reduce healthcare costs.
IoMT can also enable the development of personalized treatment plans. By collecting and analyzing data from medical devices and wearables, healthcare professionals can gain insights into a patient's health and develop treatment plans that are tailored to the individual. This can improve treatment outcomes and reduce the risk of adverse reactions to medications.
Here again, Python is an indispensable tool because of its fast go-to-market frameworks and machine-learning capabilities. Data from wearable devices can be analyzed by using Python's AI libraries to provide early warning signals for potential health issues, making it the perfect choice as a coding language for these solutions.
Trend #3: Virtual Care (Telemedicine)
Telemedicine entrenched itself as a solution during the COVID-19 pandemic, and it is here to stay.
Python is the ideal choice for developing a telemedicine platform that offers virtual consultations and remote monitoring. The language has a rich set of libraries that both speed up development and make the resulting application more secure than if built in other languages.
For example, the Python Django framework enables the rapid development of secure web-based solutions. And the Python-driven Flask framework likewise enables rapid development, but with a much smaller learning curve. It is also better suited to small applications, greatly speeding up go-to-market times.
AR and VR technologies are also making waves in virtual care and are expected to grow in force throughout 2023.
Many trends, one language
Although the trends vary and the above-mentioned might be the top trends at healthtech companies working with Thorgate, it is worth mentioning that nanomedicine, 3D bioprinting and various other technologies are going to be disrupting the healthtech industry in 2023.
As a software development company that has been building healthtech digital products for over 10 years, so far we’ve found that regardless of the changing trends, Python remains one of the preferred languages in healthtech due to powerful AI and ML capabilities coupled with being easy-to-use and easy-to-understand. Python is the most in-demand backend coding language and the second-most in-demand language of all. It has powerful AI capabilities that are extremely well-suited for developing applications that can scale easily in healthtech and other sectors that require analysis of Big Data.
Thorgate has helped numerous organizations develop innovative healthtech solutions. We understand the importance of accuracy, data privacy, and security, which is why we continue using Python as our main language regardless of whether we build a biofeedback system to diagnose migraines or a HIPAA-compliant communication app.
To learn more about how Thorgate can help you develop your next healthtech solution with Python, get in touch!