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5 Ways Technology is Transforming the Healthcare Industry

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5 Ways Technology is Transforming the Healthcare Industry

5 Ways Tech is Transforming the Healthcare Industry

Whether it’s information-sharing between patients and doctors or aiding in a high-risk surgery, it’s clear that dynamic applications of technology are well underway in disrupting the healthcare industry.

TECH AT OUR FINGERTIPS

Today’s infographic from the Online Medical Care highlights healthcare areas where tech is breaking barriers. Here are five ways that technology is impacting the sector, ranging from AI to nanomedicine:

Artificial Intelligence

Artificial intelligence will have a dramatic impact on many industries, and healthcare is no exception.

A large share of healthcare executives are already applying artificial intelligence in their operations, with data showing plans to increase budgets last year.

Healthcare uses of AIAdoption (2017)Adoption (2018E)
Clinical decision support46%59%
Population health33%46%
Disease management29%42%
Re-admissions33%41%
Medical costs / health plan21%38%
Patient safety and quality25%33%
Supply chain management13%21%
Cancer care4%12%

As the technology becomes more developed and widespread, it’s expected that AI could help diagnose strokes, eye disease, heart disease, skin cancer, and other conditions.

Virtual Healthcare

Also known as telehealth or telemedicine, virtual healthcare allows patients and doctors to touch base remotely using technology such as video conferencing or mobile apps. Many patients are also becoming comfortable using wearable technology to monitor any changes in their health – and sharing that data with their physicians.

Convenience, ease of use, and travel times to their closest doctor are main reasons why patients choose virtual care. On the flip side, many are concerned about the quality of care, or fear a loss of a personal connection with a doctor.

If all patients chose virtual healthcare over face-to-face visits, it could save the U.S. health system $7 billion annually – while the time savings would “free up” the equivalent of 37,000 doctors.

Nanomedicine

Nanomedicine is rapidly evolving field which controls individual atoms and molecules at the extremely minute “nanoscale” of 1 to 100 nanometers. To put that into perspective, a single newspaper sheet is about 100,000 nm thick.

Nanomedicine is mainly used to effectively diagnose, treat, and prevent various diseases. Compared to conventional medicines, it’s much better at precise targeting and delivery systems, paving the way towards combating complex conditions such as cancer.

The global nanomedicine market could be worth over $350 billion by 2025.

Virtual Reality

Although it’s normally been associated with entertainment, virtual reality is making waves in healthcare as well. The multi-sensory, immersive experience that VR provides can benefit both physicians and patients:

  • Healthcare worker training
    VR can be used to train surgeons in a realistic and low-risk simulated environment.
  • Physical and mental health
    VR offers therapeutic potential and rehabilitation for acute pain and anxiety disorders.

VR is thus considered a cost-effective and efficient tool for both teaching and treatment, and the VR healthcare services market is expected to grow from $8.9 million in 2017 to an expected $285 million in 2022.

3D Printing

3D printing has come a long way since its debut, especially in its uses in the healthcare industry. The technology offers faster prototypes, creating everything from personalized prosthetics to “poly-pills” at a fraction of the cost.

The customizable aspect of 3D printing is revolutionizing organ transplants and tissue repair, and it’s even able to produce realistic skin for burn victims.

Robot-Assisted Surgery

Last but certainly not least, robotic surgery is sweeping through hospitals. It allows doctors to perform delicate and complex procedures that might be otherwise impossible.

Typically, surgeons control a device with a camera and mechanical arms, giving them a high-def view of the surgical site. According to the Mayo Clinic, this method generally:

  • Enhances precision, flexibility, and control
  • Comes with fewer complications such as infections
  • Results in less obvious scars as it is minimally invasive

While technological adoption into the medical field doesn’t come without challenges, the value is clear – and we’ve barely scratched the surface of tech-driven possibilities in the healthcare industry.

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Charted: The World’s Aging Population from 1950 to 2100

This graphic visualizes the world’s aging population, showing data for every country and territory around the world.

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Charted: The World’s Aging Population from 1950 to 2100

As demographics continue to shift in the 21st century, the world’s aging population will continue to be a focal point for many global decision makers.

Most countries around the world have experienced population explosions, or are about to. Combine this with declining birth rates and falling mortality rates, and it’s clear that the global senior population will continue to reach new heights.

These graphics by Pablo Alvarez use data from the 2022 UN World Population Prospects to visualize this increasing aging population across countries.

The World’s Aging Population from 1950 to 2100

In 2022, there were 771 million people aged 65+ years globally, accounting for almost 10% of the world’s population.

This segment has been growing at an increasing rate, and it’s expected to hit 16% in 2050, and eventually 24% by 2100. Here’s what that’s projected to look like, for every country and territory.

Country by Population Aged +65 Years195020222100
🇦🇫 Afghanistan2.85%2.39%16.03%
🇦🇱 Albania6.04%16.66%49.08%
🇩🇿 Algeria3.49%6.39%28.83%
🇦🇸 American Samoa2.38%7.27%45.41%
🇦🇩 Andorra10.02%14.98%37.04%
🇦🇴 Angola2.93%2.6%12.07%
🇦🇮 Anguilla3.69%10.71%37.49%
🇦🇬 Antigua and Barbuda4.14%10.63%35.4%
🇦🇷 Argentina4.13%11.92%31.79%
🇦🇲 Armenia8.17%13.15%36.13%
🇦🇼 Aruba1.77%16.15%36.51%
🇦🇺 Australia8.17%16.9%31.38%
🇦🇹 Austria10.42%19.81%33.93%
🇦🇿 Azerbaijan6.89%7.11%30.5%
🇧🇸 Bahamas4.76%8.89%29.58%
🇧🇭 Bahrain2.88%3.76%21.89%
🇧🇩 Bangladesh3.9%6.04%32.56%
🇧🇧 Barbados5.24%16.28%33.19%
🇧🇾 Belarus8.24%17.18%30.45%
🇧🇪 Belgium11.03%19.73%32.83%
🇧🇿 Belize3.57%5.09%29.21%
🇧🇯 Benin7.85%3.06%11.03%
🇧🇲 Bermuda5.71%20.41%37.73%
🇧🇹 Bhutan2.53%6.25%33.35%
🇧🇴 Bolivia6.11%4.85%21.75%
🇧🇶 Bonaire Sint Eustatius and Saba14.22%13.84%28.94%
🇧🇦 Bosnia and Herzegovina3.95%18.4%36.4%
🇧🇼 Botswana4.32%3.65%17.96%
🇧🇷 Brazil2.39%9.88%33.52%
🇻🇬 British Virgin Islands8.63%9.95%32.47%
🇧🇳 Brunei4.85%6.17%30.93%
🇧🇬 Bulgaria6.66%22.38%37.13%
🇧🇫 Burkina Faso2.01%2.53%13.07%
🇧🇮 Burundi3.22%2.48%13.23%
🇰🇭 Cambodia2.67%5.81%26.43%
🇨🇲 Cameroon3.47%2.67%11.89%
🇨🇦 Canada7.7%19.03%31.55%
🇨🇻 Cape Verde3.67%5.55%32.63%
🇰🇾 Cayman Islands6.05%8.17%28.75%
🇨🇫 Central African Republic5.%2.51%11.43%
🇹🇩 Chad4.33%2.01%9.64%
🇨🇱 Chile3.3%13.03%36.61%
🇨🇳 China5.04%13.72%40.93%
🇨🇴 Colombia3.22%9.%34.49%
🇰🇲 Comoros3.8%4.28%17.81%
🇨🇬 Congo3.36%2.72%11.99%
🇨🇰 Cook Islands2.94%11.73%29.75%
🇨🇷 Costa Rica2.97%10.83%36.99%
🇨🇮 Cote d'Ivoire2.21%2.4%10.86%
🇭🇷 Croatia7.82%22.36%37.03%
🇨🇺 Cuba4.36%15.81%36.31%
🇨🇼 Curacao5.82%14.95%30.46%
🇨🇾 Cyprus5.95%14.83%33.36%
🇨🇿 Czechia8.29%20.64%26.94%
🇨🇩 Democratic Republic of Congo3.77%2.92%10.62%
🇩🇰 Denmark9.04%20.49%30.45%
🇩🇯 Djibouti1.99%4.54%19.68%
🇩🇲 Dominica7.67%9.53%34.28%
🇩🇴 Dominican Republic2.72%7.4%30.47%
🇪🇨 Ecuador5.2%7.83%31.97%
🇪🇬 Egypt2.95%4.83%21.77%
🇸🇻 El Salvador3.93%8.22%36.02%
🇬🇶 Equatorial Guinea5.53%3.12%15.13%
🇪🇷 Eritrea3.2%4.01%19.86%
🇪🇪 Estonia10.56%20.58%34.15%
🇸🇿 Eswatini2.68%4.%16.26%
🇪🇹 Ethiopia3.01%3.14%18.6%
🇫🇴 Faeroe Islands7.59%17.92%26.91%
🇫🇰 Falkland Islands8.27%11.08%35.86%
🇫🇯 Fiji5.99%5.9%20.6%
🇫🇮 Finland6.63%23.27%34.04%
🇫🇷 France11.39%21.66%34.23%
🇬🇫 French Guiana7.96%5.98%21.13%
🇵🇫 French Polynesia3.%10.07%37.85%
🇬🇦 Gabon7.21%3.89%16.25%
🇬🇲 Gambia2.5%2.43%16.06%
🇬🇪 Georgia9.35%14.61%31.19%
🇩🇪 Germany9.46%22.41%33.72%
🇬🇭 Ghana4.62%3.55%15.91%
🇬🇮 Gibraltar6.94%20.84%37.63%
🇬🇷 Greece6.8%22.82%37.52%
🇬🇱 Greenland3.06%10.02%29.16%
🇬🇩 Grenada5.12%10.07%30.54%
🇬🇵 Guadeloupe5.51%20.04%34.45%
🇬🇺 Guam1.11%11.84%31.19%
🇬🇹 Guatemala2.31%4.91%28.05%
🇬🇬 Guernsey11.96%16.64%35.4%
🇬🇳 Guinea5.39%3.32%14.%
🇬🇼 Guinea-Bissau3.45%2.82%14.34%
🇬🇾 Guyana3.89%6.28%28.94%
🇭🇹 Haiti3.64%4.54%19.07%
🇭🇳 Honduras3.96%4.27%26.5%
🇭🇰 Hong Kong2.48%20.47%41.64%
🇭🇺 Hungary7.81%20.01%31.85%
🇮🇸 Iceland7.52%15.33%34.25%
🇮🇳 India3.1%6.9%29.81%
🇮🇩 Indonesia1.74%6.86%25.28%
🇮🇷 Iran5.22%7.62%33.72%
🇮🇶 Iraq2.79%3.41%18.44%
🇮🇪 Ireland10.99%15.14%32.48%
🇮🇲 Isle of Man13.9%22.29%31.8%
🇮🇱 Israel4.%12.04%25.97%
🇮🇹 Italy8.09%24.05%38.19%
🇯🇲 Jamaica3.83%7.45%44.05%
🇯🇵 Japan4.89%29.92%38.7%
🇯🇪 Jersey12.34%16.22%30.52%
🇯🇴 Jordan5.03%3.84%27.3%
🇰🇿 Kazakhstan6.47%8.04%19.58%
🇰🇪 Kenya5.28%2.87%16.98%
🇰🇮 Kiribati7.13%3.81%17.33%
🇽🇰 Kosovo5.33%10.19%43.35%
🇰🇼 Kuwait2.88%4.93%31.56%
🇰🇬 Kyrgyzstan7.91%4.54%21.08%
🇱🇦 Laos2.13%4.45%25.24%
🇱🇻 Latvia10.12%21.86%32.86%
🇱🇧 Lebanon7.24%9.89%32.11%
🇱🇸 Lesotho6.34%4.2%13.44%
🇱🇷 Liberia2.97%3.31%13.88%
🇱🇾 Libya5.21%4.86%27.77%
🇱🇮 Liechtenstein7.89%19.37%34.79%
🇱🇹 Lithuania8.65%20.8%32.79%
🇱🇺 Luxembourg9.71%15.03%31.55%
🇲🇴 Macao3.11%13.%32.39%
🇲🇬 Madagascar3.25%3.35%16.21%
🇲🇼 Malawi3.06%2.61%15.61%
🇲🇾 Malaysia4.91%7.5%30.78%
🇲🇻 Maldives3.14%4.78%35.61%
🇲🇱 Mali2.78%2.38%11.%
🇲🇹 Malta7.42%19.13%38.26%
🇲🇭 Marshall Islands5.68%4.56%17.8%
🇲🇶 Martinique5.85%22.77%37.31%
🇲🇷 Mauritania1.44%3.22%15.03%
🇲🇺 Mauritius3.18%12.79%33.76%
🇾🇹 Mayotte6.61%2.88%18.15%
🇲🇽 Mexico2.99%8.32%34.88%
🇫🇲 Micronesia (country)4.11%6.16%27.59%
🇲🇩 Moldova7.56%12.98%26.36%
🇲🇨 Monaco15.64%35.92%30.16%
🇲🇳 Mongolia3.87%4.61%26.18%
🇲🇪 Montenegro7.85%16.55%34.16%
🇲🇸 Montserrat7.92%17.7%33.05%
🇲🇦 Morocco2.86%7.72%29.97%
🇲🇿 Mozambique3.13%2.57%13.43%
🇲🇲 Myanmar3.21%6.82%23.69%
🇳🇦 Namibia4.1%3.97%15.38%
🇳🇷 Nauru8.98%2.5%15.87%
🇳🇵 Nepal2.74%6.09%29.51%
🇳🇱 Netherlands7.76%20.31%32.89%
🇳🇨 New Caledonia5.%11.02%31.61%
🇳🇿 New Zealand9.09%16.31%33.2%
🇳🇮 Nicaragua2.71%5.29%28.92%
🇳🇪 Niger.92%2.4%9.76%
🇳🇬 Nigeria3.%2.97%12.31%
🇳🇺 Niue4.79%15.16%22.55%
🇰🇵 North Korea2.72%11.71%30.49%
🇲🇰 North Macedonia5.87%14.91%36.56%
🇲🇵 Northern Mariana Islands2.95%10.81%32.09%
🇳🇴 Norway9.52%18.44%31.65%
🇴🇲 Oman3.05%2.76%23.96%
🇵🇰 Pakistan5.48%4.27%17.23%
🇵🇼 Palau8.59%9.93%21.48%
🇵🇸 Palestine4.77%3.53%23.44%
🇵🇦 Panama3.57%8.77%30.03%
🇵🇬 Papua New Guinea1.09%3.19%16.81%
🇵🇾 Paraguay3.73%6.26%26.51%
🇵🇪 Peru3.43%8.41%30.33%
🇵🇭 Philippines3.56%5.44%23.38%
🇵🇱 Poland5.22%18.55%35.69%
🇵🇹 Portugal7.%22.9%36.28%
🇵🇷 Puerto Rico3.63%22.93%48.9%
🇶🇦 Qatar3.5%1.52%15.01%
🇷🇪 Reunion3.81%13.28%32.4%
🇷🇴 Romania7.16%18.64%32.22%
🇷🇺 Russia4.8%15.8%27.86%
🇷🇼 Rwanda2.76%3.2%17.36%
🇧🇱 Saint Barthlemy7.3%10.61%43.89%
🇸🇭 Saint Helena8.63%28.66%32.61%
🇰🇳 Saint Kitts and Nevis5.36%10.13%29.79%
🇱🇨 Saint Lucia3.59%9.23%33.39%
🇲🇫 Saint Martin (French part)4.47%11.14%30.08%
🇵🇲 Saint Pierre and Miquelon6.34%17.32%33.4%
🇻🇨 Saint Vincent and the Grenadines7.71%10.86%32.34%
🇼🇸 Samoa2.52%5.22%18.75%
🇸🇲 San Marino10.15%20.47%35.73%
🇸🇹 Sao Tome and Principe3.92%3.76%15.6%
🇸🇦 Saudi Arabia3.32%2.81%30.28%
🇸🇳 Senegal3.42%3.14%16.54%
🇷🇸 Serbia6.15%20.56%37.55%
🇸🇨 Seychelles10.68%8.16%28.84%
🇸🇱 Sierra Leone3.02%3.14%15.52%
🇸🇬 Singapore2.29%15.12%36.51%
🇸🇽 Sint Maarten (Dutch part)12.03%10.57%34.51%
🇸🇰 Slovakia6.63%16.98%33.4%
🇸🇮 Slovenia7.52%20.96%33.59%
🇸🇧 Solomon Islands4.03%3.47%15.29%
🇸🇴 Somalia2.6%2.57%10.75%
🇿🇦 South Africa4.06%5.89%20.55%
🇰🇷 South Korea2.74%17.49%44.44%
🇸🇸 South Sudan3.48%2.89%13.11%
🇪🇸 Spain7.23%20.27%38.72%
🇱🇰 Sri Lanka8.76%11.54%35.73%
🇸🇩 Sudan3.03%3.5%13.28%
🇸🇷 Suriname4.09%7.39%25.8%
🇸🇪 Sweden10.19%20.25%31.83%
🇨🇭 Switzerland9.49%19.31%32.61%
🇸🇾 Syria7.66%4.68%24.62%
🇹🇼 Taiwan2.11%16.71%37.32%
🇹🇯 Tajikistan4.34%3.47%19.43%
🇹🇿 Tanzania2.2%3.1%14.97%
🇹🇭 Thailand3.21%15.21%39.17%
🇹🇱 Timor3.14%5.21%25.42%
🇹🇬 Togo4.29%3.13%11.77%
🇹🇰 Tokelau4.7%8.66%25.03%
🇹🇴 Tonga4.6%6.22%21.65%
🇹🇹 Trinidad and Tobago3.93%11.52%32.67%
🇹🇳 Tunisia4.4%9.02%31.24%
🇹🇷 Turkey3.77%8.64%33.9%
🇹🇲 Turkmenistan5.84%5.15%21.55%
🇹🇨 Turks and Caicos Islands5.79%10.34%28.25%
🇹🇻 Tuvalu4.98%6.48%16.15%
🇺🇬 Uganda2.87%1.69%14.33%
🇺🇦 Ukraine7.54%18.81%33.2%
🇦🇪 United Arab Emirates3.35%1.83%15.77%
🇬🇧 United Kingdom10.84%19.17%32.56%
🇺🇸 United States8.18%17.13%30.47%
🇻🇮 United States Virgin Islands7.54%20.42%39.11%
🇺🇾 Uruguay8.23%15.58%35.98%
🇺🇿 Uzbekistan5.87%5.14%22.24%
🇻🇺 Vanuatu5.65%3.74%16.29%
🇻🇪 Venezuela2.29%8.61%27.71%
🇻🇳 Vietnam4.13%9.12%30.02%
🇼🇫 Wallis and Futuna1.76%13.47%32.98%
🇪🇭 Western Sahara2.82%5.84%23.73%
🇾🇪 Yemen3.98%2.66%18.25%
🇿🇲 Zambia2.76%1.75%12.66%
🇿🇼 Zimbabwe3.18%3.32%14.22%
🌐 World5.13%9.82%24.03%

Some of the places with high elderly shares today include high-income countries like Japan (30%), Italy (24%), and Finland (23%).

The lowest shares are concentrated in the Middle East and Africa. Many countries have just 2% of their population aged 65 years and older, such as Qatar, Uganda, and Afghanistan.

But over time, almost all countries are expected to see their older population segments grow. In just three decades, it is estimated that one-in-four European, North American, and Asian residents will be over 65 years of age.

By 2100, a variety of Asian countries and island nations facing low population growth are expected to see more than one-third of their populations aged 65 years or older, including South Korea and Jamaica at 44%. However, it’s actually Albania that’s the biggest outlier overall, with a projected 49% of its population to be aged 65 and older by 2100.

Passing the Generational Torch

The challenge of an aging population is set to impact all sectors of society, including labor and financial markets, demand for housing and transportation, and especially family structures and intergenerational ties.

One way to help grasp the nature of transition is to note the changing ratio between seniors and young children in the world population, as seen in the below crossover diagram:

Elderly population surpass that of children aged 5 and below

Dropping fertility rates, in addition to improved child and infant mortality rates, are known to have played a major role in the plateauing population of children.

However, not all countries have witnessed this crossover yet, as it usually coincides with higher levels of economic development.

As countries such as India, Brazil, and South Africa reach higher levels of per capita income, they will be likely to follow down the paths of more advanced economies, eventually experiencing similar demographic fates and challenges.

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