The healthcare sector is among the emerging technological stars. Since the past few years this sector has been in the forefront of innovative advancements and technological innovations.
Healthcare organizations today are more willing to adopt innovative solutions that are the security and success of scalable and secure. It's an exciting time to be in the world of health technology with customized healthcare software that can help to create value and provide amazing services.
If you're interested to know more about how to create an effective healthcare company continue reading to understand the fundamentals of healthcare application development.
Let's take a dive!
Custom Software application development in healthcare: Key Statistics to Look for
In order to set the stage to the future of healthcare, it is wise to concentrate on creating the best healthcare software that is custom-made for your needs. The healthcare industry of the future will include a wide array of technological advancements, like AI and the blockchain technology, IoMT, and more.
Let's review some crucial figures that confirm the potential for a healthcare system of the future.
1. Healthcare Technology
According to McKinsey the technology-driven revolution can improve patient understanding. Additionally, advances in technology can allow for individualized treatment and generate $350 billion to $410 billion in annual revenue in 2025.
2. Artificial Intelligence and Machine Learning in Healthcare
Experts predict that the AI market to grow to USD 190.6 billion by 2025. This is CAGR of 36.6 percent.
AI is already making waves and is having an impact on the field of healthcare. A few of the areas that the expansion of AI could benefit you are:
- Chronic care management
- Self-care/Prevention/Wellness
- Diagnosis and triage
- Diagnostics
- Clinical decision support
3. Telemedicine
The market for telemedicine in the world is predicted to expand at a rate of 22.4 percent from 2021 until 2028.
4. IoT and IoMT
Experts expect the investment in IoT for healthcare to reach $534.3 billion by 2025, at an annual rate of 19.9 percent. Additionally, the increase in need for IoT integration into healthcare solutions is expected to be the primary reason behind the increase.
Additionally, experts predict that the Internet of Medical Things (IoMT) market to reach $158.1 billion in 2023, at a CAGR of 30.8 percent.
5. AR, VR, and MR
The demand for virtual and Augmented Reality in healthcare is predicted to be $11.14 billion in 2025.
With the promise of the latest advancements in technology for healthcare it is a good idea to think of healthcare software development