From powerful diagnostic algorithms to finely-tuned surgical robots, artificial intelligence (AI) is making its presence known across the healthcare industry. Although still in its growth stage, AI is already rivalling doctors in diagnosing patients. The promising technology will soon reach a new level where doctors can rely on it to treat patients more efficiently. Our health and well-being are important and should not be overlooked. No stone is, therefore, left unturned when it comes to improvisations in the field of healthcare.
Precision healthcare adds an efficiency and accuracy to healthcare treatments. With precision healthcare, Doctors can potentially develop targeted precise treatment and therapies for a population as well as an individual. This can improve patient treatment to large populations in countries like India. Current healthcare systems are primarily focussed on having treatments and solutions that can treat large population with similar symptoms. It's based on evidence and data which comes from a series of medical tests on a patient.
The COVID-19 pandemic is continuing to disrupt businesses across the world. Being one of the most hustling sectors globally, healthcare has turned into the most reshaped ecosystem amid the crisis. In the initial phase of the pandemic, the healthcare ecosystem was afflicting several challenges in terms of delivery of services. However, technological innovation enforced the sector to adopt digital models, resulting in the holistic development of the industry. Reimagining the healthcare space through digital innovation creates an ecosystem for improved delivery of healthcare services.
The practice of medicine is one where innovation is literally a matter of life or death, there's always an urgent need for a new test to diagnose a mysterious new disease and a new miracle treatment to save someone afflicted by it. Innovation in healthcare is essential, and those pushing medicine's boundaries have the supreme motivation to do so; they want to alleviate suffering and save lives. As we turn the corner on 2020, we find ourselves in the midst of the worst pandemic in a century and humanity's brightest minds are focused on rapidly innovating healthcare solutions for pandemic-scale problems to save lives. The failure to scale healthcare systems over the last few decades has resulted in intense pressure to scale pandemic response in months; it is unequivocally clear that as a result our health systems will be transformed in the post pandemic world. Let's explore the major anticipated transformation. In the decade since 2010, smart phones "apps" went from buzzwords to integral parts of healthcare delivery.
The healthcare space is growing by leaps and bounds. According to a report, global healthcare expenditure is expected to reach USD 10 trillion by 2022. Owing to multiple factors like technological advancements, expensive infrastructure, growing health-related awareness, and a rise in chronic health conditions, the healthcare market is evolving faster than ever. With time, the use of technology has brought structural changes to the healthcare industry, for the better. Whether it's managing endless administrative processes in hospitals, providing personalized care and treatment, or facilitating better access, technological advancements like mobile healthcare, also known as mHealth, and machine learning in healthcare have streamlined the healthcare sector to a great extent.