By Shachi Service provider, Vice President, Index Specialist, ROBO International
Healthcare is among the few sectors of the economic system that has struggled to maintain tempo with in the present day’s applied sciences. Previous to the pandemic, we had hit an inflection level the place modernization was not a selection, however a requirement. Now the necessity to digitize and innovate inside the trade has grow to be dire. First, we should perceive the present panorama driving this demand—then we are able to comply with the investments and corporations paving the trail to raised affected person care by prevention and elevated entry.
Understanding the present healthcare panorama and the necessity for innovation
Healthcare prices, each on a worldwide and nationwide stage, are rising at unsustainable ranges. This is because of a confluence of things, together with the rising ageing inhabitants, improve in power illness, scarcity of physicians and nurses, lack of entry to care, and improve in digital demand by hospitals and sufferers.
The ageing inhabitants is anticipated to double within the subsequent 20 years.
The prevalence of power illness is rising, accounting for 81 % of U.S. hospital admissions, 91 % of all prescriptions crammed, and 76 % of all doctor visits.
A examine carried out by consulting agency Mercer confirmed that the U.S. will face a scarcity of 400,000 residence well being aides and 29,400 nurse practitioners by 2025.
Digital medical document and digital well being document adoption is rising — 93 % of American hospitals now use EHRs, which represents an increase of 20 % within the final ten years. Laws slated to take impact in 2022 is evolving to fulfill elevated digital demand, permitting sufferers to obtain their EHRs onto digital gadgets.
Along with all these components, the COVID-19 pandemic shattered beforehand established obstacles to innovation and catalyzed digital well being. Innovation in healthcare is creating new avenues by which to deal with sufferers remotely, enhance affected person movement by digital appointments, and cut back emergency care companies by predictive modeling, synthetic intelligence, and know-how.
A shift from sick care to preventative care
A highlight is on preventative medication in an effort to fight power sickness administration, enhance well being outcomes, and cut back rising prices. As annual checkups and pressing care visits had been rescheduled and reshuffled by the pandemic, a number of firms emerged with modern approaches to tackling the continuing healthcare disaster. Two fascinating examples of those know-how traits could be seen by using telemedicine and genetic testing within the major care setting.
The rise of the “digital physician” permits sufferers to entry physicians and clinicians by way of videoconferencing apps, normally on their smartphones and tablets, but in addition by way of conventional PCs. Telemedicine is extremely instrumental for these sufferers who’re unable to simply depart the house for a standard supplier go to and for many who reside in distant or rural areas.
The HTEC index has a 1.41 % weight in Teledoc Well being, Inc. (TDOC), one firm that’s on the forefront of the telemedicine trade. TDOC expanded its distant well being choices in 2020 by merging with Livongo, a digital well being firm and former HTEC member that builds out distant healthcare options for sufferers affected by diabetes and hypertension.
Genetic testing is a crucial medical software used to evaluate numerous inheritable illnesses, situations, and cancers sooner than ever earlier than doable. Early analysis, typically even earlier than signs floor, helps to reduce the severity of signs in the long run and promote a greater high quality of life for sufferers.
The HTEC index holds a 1.30 % weight in Fulgent Genetics, Inc. (FLGT). Fulgent, along with its subsidiaries, offers COVID-19 testing and genetic testing companies to physicians with clinically actionable diagnostic data. Its know-how platform integrates information comparability and suppression algorithms, adaptive studying software program, and genetic diagnostics instruments and built-in laboratory processes. The corporate primarily serves insurance coverage firms, hospitals, and medical establishments. Fulgent Genetics collaborates with PWNHealth to offer at-home COVID-19 take a look at capabilities and has a strategic partnership with Helio Well being, Inc. to commercialize blood-based early most cancers detection exams.
Projected funding traits throughout healthcare know-how
Judging from supporting laws, the elevated want, and the present scarcity of healthcare professionals, healthcare innovation is right here to remain. This evolving trade is creating an inflow of funding alternatives. The ROBO International Healthcare Know-how and Innovation Index (ticker: HTEC) offers buyers with publicity to world well being tech firms which are harnessing highly effective applied sciences to create services that profit each sufferers and suppliers.
Listed below are two of the key offers and funding particulars that show that we’re within the midst of a healthcare revolution:
This 12 months, there have already been 73 offers (accomplished and pending) price $50.1B made by HTEC members as of August 30, 2021.
In the event you comply with the cash, all indicators level to progress and continued growth on the earth of healthcare know-how. HTEC is a dynamic, world portfolio of firms working to vary the way forward for healthcare. Investing in innovation will influence us for generations—healthcare’s second is now.