Global Healthcare Industry

We are living in the era witnessing widespread digitization of healthcare. Rapid technology innovation of Industry 4.0, and the consequential digital transformation due to it, is set to cause massive disruption. Today, there are medical platforms – wearables, Big Data, and health analytics – powered by emerging technologies that are providing valuable services. The future of the healthcare industry would focus on creating intelligent medical solutions with evidence-based approaches utilizing cognitive technologies like Machine Learning and AI, Robotics, and Augmented Reality.

Overview

Experts believe that to keep up with the consistently growing needs in the healthcare sector, leveraging emerging technologies will be the key strategy to mitigate the shortage of physicians and other healthcare professionals, along with augmenting this sector to make it more advanced. Healthcare, as we know, is a critical sector since the life and the well-being of individuals are at stake. It is thus imperative to embrace technologies in a way that enhances the quality of life for millions. From medical apps that augment medical record accessibility and patient education, to highly advanced smart medical devices powered by IoT, AI, Robotics, etc. that makes diagnosing and treatment of ailments quick and accurate, emerging technologies are set to revolutionize the healthcare industry.

device
According to Transparent Market Research (TMR), by 2025, the digital healthcare market is expected to reach $536.6 billion.
healthcare
Grand View Research predicts that the healthcare market for IoT devices is slated to top $409.9 billion by 2022. Also, 40% of all IoT products will be used in the medical field.
medicine
In a recent study by Fortune magazine, AI medical software was 95% accurate in identifying skin cancer. Dermatologists, by comparison, were only 86.6% accurate. That’s 8.4% more patients whose cancer can be treated in early stages.

Career Opportunities in Healthcare Industry

IoT
Smart sensors and smart devices powered by Internet of Things has caused the most significant disruption in the healthcare sector spawning a new term - Internet of Medical Things (IoMT). Manual scanning of patients and their records by healthcare professionals is susceptible to human error. This can be greatly reduced with the help of RFID tags worn by patients that alert the monitoring systems. IoMT also enhances drug management through smart biosensors that monitor vital signs and health conditions. Sensors for monitoring biological conditions like blood coagulation, heart rate, glucose level, etc. have been there in place in the healthcare sector, but adding IoMT connectivity adds a new dimension to these devices opening a wide avenue to devise new applications that can transform the healthcare industry.
Cloud & DevOps
Data is being generated at a rapid pace in every industry. Healthcare industry is no exception to this phenomenon. Regulatory conditions along with predictive modeling and analytics requirements have led to the need for better storage, data sharing, and collaboration. In such a scenario, cloud computing provides a reliable and secure medium against the electronic medical reports (EMR) eliminating the data loss associated with EMR techniques. DevOps, on the other hand, enhances infrastructure management in the healthcare sector. There is an ever-increasing demand for data-driven, interactive and responsive care in the healthcare sector that can be dealt best with the DevOps approach.
DL, ML, & Big Data
Healthcare is at its best when there is a fast delivery of healthcare services, early detection of chronic diseases, and fitness monitoring among patients, all of this ultimately leading to better treatment. AI can potentially improve all of these activities. Moreover, AI helps in creating better treatment plans and monitoring procedures. It also helps in assessing huge chunks of data to provide customized medication. Machine learning and Deep Learning utilize predictive modeling to offer personalized and affordable ways of delivering healthcare. With data from various medical images, doctor’s notes, and lab tests diagnosis and treatment can be done both quickly and accurately.
Others (Business Courses)
Operations and infrastructure play a significant part in the healthcare industry. With digitization, there is a significant demand for networking expertise as the whole system can break down with a failed network. Also, there is a need for those who can look into the operations and management of the overall healthcare systems aligned with the IT services. Therefore, professionals with skill-sets in networking, operations and infrastructure management would make sure cutting-edge technologies are being implemented well.