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Technology In Home And Healthcare: A Boon Or A Bane

Technology In Home And Healthcare: A Boon Or A Bane

Apparently, it may seem to any ignorant person that use of technology in any specific field eats up the job potential and replaces humans making them unemployed. However, with a closer and deeper look into it you will see that use and implementation of technology across all industries has helped business in ways more than one including:

  • Making the job process simpler and effortless
  • Providing better results faster
  • Increase in production and business revenue 
  • Eliminating chances of errors 
  • Designing a better procedure and lots more.

The home and health care industry are not to be left behind. Over the last few years it is seen that there is a lot of use in home health care which has helped the care providers to provide better and faster service and produce better results.

healthcare-service

The flourishing trend of digital transformation

Typically, people tend not to go overboard when they think about the mind-blowing excitement while considering the healthcare sector. However, with the advent of technology and the trends followed by all participants in the home and health care sector, the advancement made by this sector is enough to blow up your mind. 

Moreover, if you consider the speed at which this industry is growing, you may tend to wonder just how much more is possible by this industry to grow.

In short, it can be said that the advent and use of technologies like machine learning, AI, AR, VR and Digital Twins in the health care industry has helped this specific industry to grow in leaps and bounds. It is growing to become more capable and sophisticated. The use of technology in their care service processes has provided them with greater insights, helped them to provide better results and enable them to design improved healthcare procedures. 

This trend will stay and will flourish in 2019 and beyond.

Advent of the wearables and the IoT

Perhaps, the advent and use of wearables is the most significant of all digital transformations and trends in health care industry. If you look into the matter more realistically you will see that these wearables have been around for quite some time now. In fact, the collection of data through the IoT and wearable devices is nothing earth-shattering or anything new, especially now in 2019.

However, the thing that is new and news is that as this trend of wearables continue growing, the home and health care industry will be able to use the data collected through these devices in a lot of useful and amazing ways such as:

  • They can use it to determine a preventive medicine
  • The data can be used for research purposes to design better care processes
  • It can help the industry to grow and advance in different allied fields of medicine.

In fact, research has shown that with the use of wearables and IoT, it has significantly helped the medical field to cure and even prevent bigger health epidemics all around the globe. In short, these devices have made the home health care jobs much easier, more easily accessible and better.

The exponential change

The home and health care landscape are changing at such a rapid pace and exponentially that the experts of this industry expect that it will disrupt the industry significantly in 2019 and the years to follow.

  • The use of technology is anticipated to have a serious impact in the process and policies of this industry. 
  • It is also expected that these technologies will have along and far-reaching implications in terms of diagnosis, tests, treatments and providing after care in the future.

Better immunotherapies provided

Use of technology and digital transformation has provided significant help in immunotherapy. In fact, it is found that the checkpoint inhibitors are growing at the rate of 139% CAGR.

Immunotherapy, just as the name implies, provides therapeutic benefits to the patients by focusing on their capabilities, or should it be said the incapability of the immune system. This is in regards to tumor as well as the promises that is provides to transform cancer care. 

This therapy charts newer territories including

  • The individual period of survival and
  • The potential for a significant number of patients who can benefit from it.

For example, take the case of a patient suffering from malignant melanoma. This is a significant yet unmet medical requirement that has very limited treatment options. Research reports show that there are more than 160,000 patients suffering from melanoma or diagnosed with it worldwide. What is even more alarming is the fact that there are about 40,000 deaths caused due to melanoma each year! However, immunotherapy has several promises.

  • The promise of immunotherapy relies heavily on the aptitude of it for a broader application across a large number of patient populations. 
  • When the algorithm for immunotherapy and its effective use is realized properly in the oncology setting, the growth potential of this therapy can be magnanimous.

On the backside, the checkpoint inhibitors rule the current topics in clinical care and home care provided to communities. The other promises and innovative approaches include:

  • New molecular constructs
  • Chimeric Antigen Receptors or cars
  • Therapeutic combinations with new and old drugs
  • The dosing regimen
  • Modifications to make and 
  • Vaccines. 

With so much promises and possibilities, it is quite natural and not alarming that the market for these check point inhibitors has extended from its $3 billion in 2015 and it is further expected to grow up to $21.1 billion by the end of 2020, which is a 139% growth at CAGR!

Boon or a bane

Considering the above facts, which is just a miniscule investigation of the wide and extensive filed of home and health care industry, there is no doubt that the advent and use of technology in the industry has proved to be a boon for both the patients as well as the home care givers. It has made care processes easily available, affordable and more productive. 

Ending in a positive note, these existing technological development in the home and health care industry as well as those in the pipeline are welcome by both the care givers and the receivers.

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