Evolving medical innovations will change our world and lives over the next few decades. FutureTales Lab by MQDC brings you 5 key innovations for the future:

1. Artificial Intelligence: AI

Artificial intelligence and machine learning algorithms to detect, diagnose, and treat disease are a new opportunity for public health. The AI healthcare adoption market is expected to grow from $6.95 billion in 2021 to $97.2 billion in 2029 at a CAGR of 40.51%. And it will play an important role in the transition from the Internet of Things (IoT) to the Internet of Medical Things (IoMT) to enhance healthcare in everyday life, training, research, treatment, preliminary screening diagnosis, decision-making, and healthcare to the end of life.

AI can now check mammograms with 99% accuracy at 30 times the speed of conventional mammograms, reducing the need for biopsies to diagnose lung cancer. Research shows that AI is 17% more likely to correctly diagnose lung cancer from X-ray images than humans. Technology markets such as wearable devices are among the technology markets trying to adopt AI to enhance healthcare, such as with monitoring systems and alerts for good habits

2. Three-dimensional printing technology (3D Printing)

The use of 3D printing technology in medicine and healthcare is growing exponentially. In 2019, more than 113 hospitals in the United States adopted 3D printing. This has increased significantly compared with 2010, when only three machines were used. 3D printing is also being used for the creation of dental implants, replacement joints, custom-made prosthetics. Research is underway into 3D printing of organs for the production of skin tissue and creation of individual replacement organs such as hearts or kidneys.

Used widely it can enhance treatment and increase the chances of rehabilitation. It can also reduce the time required for many diagnostic and procedural procedures. It can reduce the production time of hearing aids from more than a week to a day. Healthcare will grow from $11.1 billion in 2021 to $35.4 billion in 2028 at an average annual growth rate of 18%

3. Gene Therapy (CRISPR Gene Editing)

Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)) will advance therapeutic limits for a critical disease. The technology harnesses the natural mechanisms of the virus invading the body and cut off the abnormal genetic code. This makes it possible in the future for humans to treat important diseases related to cell and genetic code abnormalities such as cancer, HIV, sickle-cell disease (SCD). The market for CRISPR technology is expected to grow from $2.57 billion in 2022 to $9.6 billion in 2030, with a CAGR of 17.9%, particularly in North America.

However, the technology is controversial over ethical concerns about its suitability. In 2020, researchers in China were prosecuted for trying to create "designer babies"

4. Virtual Reality (Extended Reality: XR)

Virtual world technologies such as Virtual relatiy (VR), Augmented reality (AR), Holograms are now playing an important role in the medical field, such as teaching advanced surgery, pain relief, treatment of mental health. Surgeons can use VR helmets to practice procedures and simulate seeing the internal organs of the patient's body. VR can also help patients “unlearn” pain. The VR/AR market is expected to grow from $2.3 billion in 2021 to $19.6 billion in 2030 at an annual growth rate of 26.88%.

5. Smart Devices

Adhesive bandages can use sensors to monitor wound healing (Smart Bandage), increasing new blood flow to injured tissue and enhancing skin recovery by reducing scar formation. The thin electronic layer on the bandage has a temperature sensor that monitors the wound. It can also be electrically stimulated to accelerate tissue closure. It will play an important role in treating important diseases such as the immune system, diabetes. Such technology still has problems with cost and data storage before it can be brought into mass production. But it can help people with suppressed immune systems and diseases such as diabetes, who often suffer from slow-healing wounds. It is expected that the smart bandage plaster market will grow on average as high as 23% per year during 2023-31. In 2031, the value will the market reached $1.1 billion.

Implications for the future:

- The use of modern medical technology will be included in the basic curriculum for medical students and public health personnel. And regular training of additional personnel is required.

- Medical technology will be cheaper, more accessible and further enter basic health welfare in each country.

Reference:

- 5 innovations that are revolutionizing global healthcare https://www.weforum.org/agenda/2023/02/health-future-innovation-technology?utm_source=linkedin&utm_medium=social_scheduler&utm_term=Health+and+Healthcare&utm_content=27%2F02%2F2023+01%3A00

- Artificial Intelligence (AI) Healthcare Market to hit USD 97.23Bn at a CAGR of 40.51 percent by 2029 https://www.globenewswire.com/news-release/2023/03/02/2619316/0/en/Artificial-Intelligence-AI-Healthcare-Market-to-hit-USD-97-23Bn-at-a-CAGR-of-40-51-percent-by-2029.html

- No longer science fiction, AI and robotics are transforming healthcare https://www.pwc.com/gx/en/industries/healthcare/publications/ai-robotics-new-health/transforming-healthcare.html

- Number of U.S. hospitals with a centralized 3D printing facility from 2010 to 2019 https://www.statista.com/statistics/1211961/medical-3d-printing-facilities-hospitals-united-states/

- 3D Printers Market Size to Reach $35.36 Billion by 2028 | Vantage Market Research https://www.globenewswire.com/news-release/2023/02/28/2616786/0/en/3D-Printers-Market-Size-to-Reach-35-36-Billion-by-2028-Vantage-Market-Research.html

- CRISPR cancer trial success paves the way for personalized treatments https://www.nature.com/articles/d41586-022-03676-7

- What CRISPR-baby prison sentences mean for research https://www.nature.com/articles/d41586-020-00001-y

- CRISPR And Cas Genes Market Size, Share & Trends Analysis Report By End-use (CROs, Biotech & Pharma Companies), By Application (Biomedical, Agriculture), By Product & Service, By Region, And Segment Forecasts, 2022 - 2030 https://www.grandviewresearch.com/industry-analysis/crispr-associated-cas-genes-market

- Augmented and Virtual Reality in Healthcare Market Size to Reach USD 19.6 Bn by 2030 https://www.globenewswire.com/news-release/2022/08/23/2503208/0/en/Augmented-and-Virtual-Reality-in-Healthcare-Market-Size-to-Reach-USD-19-6-Bn-by-2030.html

- Smart wireless bandages could help heal chronic wounds https://eandt.theiet.org/content/articles/2022/11/smart-wireless-bandages-could-help-heal-chronic-wounds/

- Wireless, closed-loop, smart bandage with integrated sensors and stimulators for advanced wound care and accelerated healing https://doi.org/10.1038/s41587-022-01528-3

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