How Quickly is The HealthTech Industry Growing?
Since there continues to be demand growing for better patient experiences, the healthtech industry is on a rapid positive trajectory. According to Statista, the industry is projected to reach $32.15 billion in 2023. Manual paper processes can bog practices down and take physicians away from their top priority: providing top-notch patient care.
Many healthcare providers still rely on paper-based systems for managing patient records, scheduling appointments, and other administrative tasks. To remedy the tediousness of these tasks, software solutions, and automation technology can relieve employees of the time it takes to manually accomplish these necessary aspects of healthcare practices.
Moreover, by leveraging existing medical data, deep learning technology and AI can help healthcare professionals make decisions more quickly, track trends in patients and diseases, and develop treatment plans that are customized to each individual patient’s needs.
This is why the healthtech industry is projected to experience a compound annual growth rate of 22.2% from 2020-2025. The future of this sector looks incredibly promising. By investing in automation technology within the healthcare industry, providers can provide better care for their patients while simultaneously cutting costs and increasing efficiency. It's clear that healthtech is just the beginning of a revolution in healthcare that will drastically change the way care is delivered. The possibilities are truly endless and this industry continues to grow exponentially every year.