5 medtech trends to expect in 2023

Healthcare services around the world are still battling through the aftermath of COVID-19, almost three years since the World Health Organization (WHO) officially declared the virus a global pandemic. The pressure to address the immediate threat to people’s lives led to the redeployment of doctors and nurses, reducing capacity elsewhere in the system.

Now healthcare systems are facing a significant backlog in elective care that was postponed due to prioritizing emergency treatments and protecting front line staff. The closing of outpatient clinics has stalled new clinical care trials which could delay the introduction of new care pathways.

Healthcare costs are also a cause for concern. McKinsey reports that national health expenditure could grow at a rate of 7.1% in the next five years, 2.4% more than the expected growth of the US economy in the same period.

Combine this with managing the needs of a growing ageing population, and the immediate future may appear bleak. However, as we enter a new era of healthcare, healthcare providers are turning to technology and innovation for answers and are doing so at a faster pace than ever before.

1. Accelerating adoption of innovation
One of the few positives to come out of the pandemic was how quickly new solutions were embraced by healthcare systems. Innovations which – before the pandemic – would have taken a decade to adopt, are now being fast tracked. This is particularly the case where the solutions demonstrably enhance clinical outcomes and reduce costs.

Healthcare services have traditionally been slow to adopt new treatments. When changes are implemented into the wider system, they need to prove they can deliver better clinical outcomes or enhance the treatments that currently exist. This can be hard to achieve and takes time to demonstrate.

With the rapid evolution of medtech, treatments can demonstrate real patient benefits far more quickly than was previously possible. The benefits have demonstrated faster healing and prevention of serious and chronic medical conditions. The necessity driven by the pandemic encouraged a more seamless approach to medtech adoption, supported by healthcare systems that recognize only technology can effectively bridge the gap between increased demand for healthcare and limited budgets and staff resources.

2. Balancing telemedicine with in-person consultations
Another consequence of the pandemic was the sharp growth in telemedicine – with many consultations shifting to virtual platforms. During the middle of lockdowns and when COVID-19 cases peaked, these solutions helped front line staff remain safe.

However, 2023 will mark the year that this trend starts to reverse. Healthcare systems are facing backlash from patients who are struggling to get appointments or are frustrated with remote diagnostics. For many conditions, telemedicine simply cannot be the solution. Serious and chronic diseases cannot be identified over a telephone or video call, which healthcare professionals are starting to recognize. 

Telemedicine and remote diagnostics will continue to make elements of care safer and more convenient, but the future will focus on a hybrid model that recognizes the benefits of remote consultations for many but respects the need for real face-to-face meetings for others.

3. Empowering patient self-management
As pressures on the U.S. healthcare system intensify, we can expect to see increased deployment of medtech that empowers patients to monitor their own conditions more effectively and independently.

While much discussion has been based on the potential of Internet of Things deployments in healthcare for remote patient monitoring (RPM), the more immediate opportunity is offered by portable equipment that allows patients to manage their conditions remotely safely and easily. RMP reduces the need for regular consultations, enabling healthcare services to examine patients from afar, and only provide treatment when the need for intervention is flagged by the technology.

The deployment of remote treatment will also grow, helping patients address issues in the home that previously would have required a hospital or clinic visit. Combined remote healthcare monitoring and management offer patients the ability to remain at home, manage their wellbeing more effectively and receive the attention they need, when they need it.  In a world where millions have experienced delays in surgery, this will become an increasingly important part of making patients comfortable while they wait for treatments.

4. Strengthening the supply chain
The fall-out from the lack of suitable personal protective equipment (PPE) available at the start of the pandemic demonstrated the critical importance of a robust and effective supply chain in healthcare, beyond PPE alone.

The recent supply chain issues in China, combined with the impact of the Russia-Ukraine crisis, has demonstrated that an uncertain world has global implications. Healthcare systems are looking to ensure they can deliver continuity of care in an unpredictable world, particularly ensuring that critical drugs and MedTech solutions that help people heal are always available. Medtech companies will increasingly be challenged to demonstrate how they can ensure continuity of supply in all circumstances.

5. A more sustainable system
Healthcare will not be immune to the growing global climate crisis and 2023 will see an emphasis on sustainable solutions that drive a more circular healthcare system. Solutions will need to strike a balance between reducing transmission by sanitizing products that can be reused and improving longevity and sustainability.

The other leading challenge will be to reduce clinical waste volumes significantly. For medtech this means creating solutions that can deliver effective treatment without environmental harm, be that innovative UV lighting technology, sterilisation fog rooms or similar. Medtech companies are being challenged to demonstrate compliance with high levels of sustainability as part of them becoming a preferred supplier. Clinicians will look to medtech innovation that is proactively good for the planet – not just those that do less harm.

Delivering a brighter future for healthcare
As medtech matures, there will be challenges and opportunities for the industry. Better solutions for patient care that can deliver improved outcomes and reduced costs will enjoy less barriers to adoption. 

This in turn will provide additional opportunities to deliver value to healthcare services across the US and challenge the standard of care status quo across both inpatient and outpatient treatments. At the same time, medtech manufacturers will need to navigate through challenges with supply chain sustainability.  If the industry continues to showcase its potential to deliver better clinical and financial outcomes, 2023 and beyond will remain the age of medtech.