Healthcare is an ever-evolving industry, and staying on top of the latest trends and innovations is crucial for healthcare providers, industry professionals, and patients. With each passing year, new healthcare trends emerge, often driven by technological advancements, shifting consumer preferences, and changes in healthcare policy. As we approach 2023, we must closely examine the industry’s top healthcare trends.
In this blog post, we’ll explore the most significant healthcare trends for 2023 from three perspectives: digital, consumer, and international. We’ll examine how digital technology transforms healthcare delivery and management, how consumers drive change in the industry, and how healthcare trends vary across different countries and regions. Whether you’re a healthcare professional or a curious patient, this post will provide valuable insights into the future of healthcare.
First, we’ll delve into the digital healthcare trends that are set to shape the industry in 2023. We’ll examine how technology changes healthcare delivery and management, from virtual care to cybersecurity. Then, we’ll explore the consumer trends driving change in healthcare, including the rise of personalized healthcare and the increasing importance of patient experience. Finally, we’ll take a global perspective and examine international healthcare trends, highlighting the unique challenges and opportunities facing healthcare systems worldwide.
Top Healthcare Trends
General Healthcare Trends
Healthcare trends refer to the prevailing patterns and shifts in the healthcare industry. Various factors such as technology, policy, economics, and demographics can cause these trends to vary by country, region, or globally. As we look to the future, several emerging healthcare trends will likely shape the industry in 2023 and beyond.
One of the most significant healthcare trends for 2023 is the continued focus on digital health and telemedicine. With the rise of technology and increased access to high-speed internet, more patients and providers are turning to virtual care options to manage their healthcare needs. This trend is particularly evident in the United States, where telehealth utilization has surged during the COVID-19 pandemic.
Another key trend expected to continue into 2023 is the shift toward value-based care. This model focuses on improving patient outcomes while reducing costs and has gained traction in recent years as healthcare providers seek to deliver more efficient and effective care. Value-based care is critical in an aging population and the increasing prevalence of chronic conditions.
In addition, emerging healthcare trends will likely gain prominence in the coming years. These include personalized medicine, which involves tailoring treatment plans to individual patients based on their genetic makeup, lifestyle, and other factors. Another emerging trend is using artificial intelligence and machine learning to improve diagnosis and treatment.
Looking at national and global healthcare trends, several issues are likely to be prominent in the future. In the United States, healthcare policy and access to care will likely remain critical issues, particularly as the country grapples with the COVID-19 pandemic. Globally, there is a growing focus on addressing health inequalities and improving access to care for underserved populations.
The healthcare industry constantly evolves, and staying abreast of the latest trends and developments is essential for providers, policymakers, and patients. By understanding current and emerging healthcare trends, we can better anticipate future challenges and opportunities in the healthcare landscape.
Digital Healthcare Trends
Digital healthcare, virtual healthcare, cybersecurity healthcare, and retail healthcare are all rapidly evolving areas within the healthcare industry. Here are some current trends and developments within each of these categories:
Digital Healthcare Trends:
- Telemedicine and remote patient monitoring have become more widely adopted during the COVID-19 pandemic and are likely to continue to be popular as patients seek more convenient and accessible healthcare options.
- Electronic health records (EHRs) are becoming more sophisticated and integrated, allowing for better data sharing and analysis.
- Artificial intelligence (AI) is used in healthcare to improve diagnostics, predict patient outcomes, and optimize treatment plans.
- Wearable health technology is becoming more advanced and used to monitor various health metrics, from heart rate to sleep quality.
Virtual Healthcare Trends:
- Telemedicine and remote patient monitoring have become more common as patients seek to avoid in-person appointments and clinics expand their virtual offerings.
- Developers are creating virtual care platforms that enable patients to receive care from multiple providers on one forum.
- Virtual mental health services are becoming more widely available and accepted as the pandemic has highlighted the importance of mental health support.
Cybersecurity Healthcare Trends:
- Healthcare organizations increasingly prioritize cybersecurity as they rely more on digital systems and data.
- Cyberattacks targeting healthcare organizations are becoming more sophisticated and frequent, highlighting the need for strong cybersecurity measures.
- Healthcare organizations invest in cybersecurity training and resources to protect patient data and prevent breaches.
Retail Healthcare Trends:
- Retail clinics are becoming more popular, offering patients convenient and affordable healthcare services for minor illnesses and injuries.
- Big retailers are entering the healthcare market, such as Amazon's acquisition of PillPack and Walmart's partnership with Doctor on Demand.
- Health and wellness products are becoming more widely available in retail stores, with a growing emphasis on natural and organic products.
Consumer Healthcare Trends
US Healthcare Trends
The US healthcare industry is massive, with healthcare spending accounting for over 18.3% of the US GDP in 2021. According to Deloitte, healthcare spending in the US will triple to nearly $12 trillion by 2040, or 26% of GDP, if the current trajectory continues. This growth is driven mainly by inequities in the US healthcare system, including structural biases related to race, gender, and socioeconomic status. Emerging health-focused technology is also driving up costs, with healthcare companies adopting cloud-based technologies that cost $17.9 billion in 2022, expected to jump to $29.15 billion in 2026.
However, to offset costs, healthcare providers are leveraging the increase in consumers who want to be more active in monitoring their health by encouraging tech that promotes vital tracking, early detection, and disease prevention. Remote patient monitoring (RPM) tools will account for these savings. In fact, by 2024, over 75% of US medical practices will be leveraging RPM technology.
One of the vital healthcare trends in the US is the shift towards in-home healthcare services. Retailers and insurers are now buying home health companies to expand into in-home care, and remote patient monitoring and at-home diagnostic tests are helping to boost these efforts. Up to $265 billion in care services for traditional Medicare and Medicare Advantage (MA) beneficiaries could migrate from standard facilities to the home by 2025. The demand for convenience and distanced care continues, and RPM adoption will only increase post-pandemic. By 2025, there will be an estimated 70.6 million RPM users in the US, up 56.5% from 2022.
However, healthcare in the US is more expensive than in most countries, with the US spending nearly 16.8% of GDP on healthcare in 2019. Healthcare providers are working to better provide support services to patients, including addressing mental healthcare issues, which are not handled well, according to 70% of US adults surveyed by NORC at the University of Chicago. While healthcare spending in the US is high, the global healthcare market is also growing and is estimated to reach $665.37 billion by 2028.
International Healthcare Trends
International healthcare trends in orthopedics are constantly evolving, and in 2023, we can expect to see some significant changes. The orthopedic devices market suffered a substantial loss of revenue during the pandemic, but it has gradually recovered and is expected to reach nearly $50bn in 2023, according to GlobalData. Here are some of the top international healthcare trends in orthopedics that we expect to see in 2023.
One of the key trends is the rising number of outpatient procedures. Covid-19 has accelerated the shift in the site of care, with more procedures, particularly total joint replacements, taking place in an outpatient or ambulatory surgical centers (ASCs) to reduce hospital bed occupancy rates. This shift largely depends on the regulatory environment and reimbursement policies. As the US Centers for Medicare and Medicaid Services (CMS) remove more types of orthopedic procedures from the inpatient-only list, patients and surgeons will seek systems and facilities that can deliver the best healthcare services. Manufacturers are tailoring more orthopedic instruments with smaller sizes and remotely controlled features to meet the needs of ASCs.
Another trend expected to overgrow in 2023 is the development of robotic surgery. Orthopedic robotic surgical systems are specialized to improve surgical outcomes for orthopedic surgeries. They aid in various procedures, such as partial knee replacement, total knee replacement, and total hip replacement, to help surgeons perform operations more consistently and accurately than manual techniques. Experts expect that new generations of orthopedic robots, boosted by artificial intelligence (AI) and machine learning, will further improve clinical outcomes. Unlike the general surgery robotics market dominated by one company, Intuitive Surgical, all major orthopedic manufacturers are competing in the orthopedic robotics market.
3D printing, or additive manufacturing, is becoming increasingly crucial in orthopedics. As technologies’ development and costs come down, 3D printing replaces traditional prototype development approaches across various industries, and medical usage is a fast-growing area. Experts have used 3D printing to create custom-made orthopedic devices, including joint replacements and artificial limbs. The 3D-printed titanium implant Modulus from NuVasive is among the top five interbody products in the spinal fusion market. Its revenue has increased steadily since its launch in 2017, indicating strong demand from healthcare facilities.
Regenerative medicine is another trend that is gaining popularity in the orthopedics field. Cartilage repair procedures aim to regenerate or replace articular cartilage to reduce joint pain and prevent the development of arthritis. Third-generation or matrix-associated autologous chondrocyte implantation (ACI) was developed five years ago. Researchers from the University of California, San Francisco, found an increased rate of ACI from 2017-2019 compared to 2014-2016, whereas the re-operation rate was lower. GlobalData expects more regenerative medicine to be developed and marketed to meet the rising demand in 2023.
Finally, supply chain challenges and inflation pressure will continue in 2023. Prices of raw materials for medical devices have skyrocketed in recent years, and the market has been facing a significant rise in transport costs and longer and more unpredictable delivery times. Orthopedic device manufacturers with more commoditized portfolios, such as hip and knee implants, will have less pricing power and a more limited ability to pass pricing on to hospitals. Brands with the same price will suffer further margin erosion as costs remain high.
Conclusion
In conclusion, the healthcare industry constantly evolves, with emerging trends shaping how healthcare is delivered and accessed globally. The future of healthcare is highly influenced by digital advancements and the need for personalized care that caters to individual patient needs. The rise of virtual healthcare, retail healthcare, and cybersecurity measures are among the top trends shaping the healthcare landscape in 2023 and beyond.
Moreover, healthcare providers are looking for innovative ways to enhance patient outcomes and experiences by focusing on preventative care and using data analytics to improve healthcare delivery. As such, keeping up with these trends is essential for healthcare professionals to stay ahead of the curve and provide the best care possible to patients.
