Discover the Top 10 Healthcare Industry Trends & Innovations in 2023
5 Trends in Healthcare Technology that are Shaping the Industry
May 2, 2023Discover the Top 10 Healthcare Industry Trends & Innovations in 2023
Innovation Map outlines the Top 10 Healthcare Industry Trends & 20 Promising Startups
For this in-depth research on the Top Healthcare Industry Trends and Startups, we analyzed a sample of 3 622 global startups and scaleups. The result of this research is data-driven innovation intelligence that improves strategic decision-making by giving you an overview of emerging technologies and startups in the healthcare industry. These insights are derived by working with our Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 2 500 000+ startups and scaleups globally. The platform quickly delivers an exhaustive overview of emerging technologies within a specific field as well as identifies relevant startups and scaleups early on.
In the Innovation Map below, you get an overview of the Top 10 Healthcare Industry Trends and Innovations that impact healthcare companies worldwide. Moreover, the Healthcare Innovation Map reveals 20 hand-picked startups, all working on emerging technologies that advance their field. To explore custom insights, get in touch.
Top 10 Healthcare Industry Trends
Tree Map reveals the Impact of the Top 10 Healthcare Industry Trends
Global Startup Heat Map covers 3 622 Healthcare Startups & Scaleups
The Global Startup Heat Map below highlights the global distribution of the 3 622 exemplary startups and scaleups that we analyzed for this research. Created through the StartUs Insights Discovery Platform, the Heat Map reveals that the United States is home to most of these companies while we also observe increased activity in India as well Europe, particularly in the UK.
Below, you get to meet 20 out of these 3 622 promising HealthTech startups and scaleups as well as the solutions they develop. These 20 startups were hand-picked based on criteria such as founding year, location, funding raised, and more. Depending on your specific needs, your top picks might look entirely different.
Top 10 Healthcare Trends in 2023
1. Artificial Intelligence
AI is replacing conventional labor-intensive and time-consuming processes in healthcare with rapid, remotely accessible, and real-time solutions for diagnosis, treatment, and disease prevention. HealthTech startups develop software platforms, application programming interfaces (APIs), and other digital products to extend the benefits of AI. Some of the applications of artificial intelligence in healthcare include clinical workflow management, advanced surgery assistance, and medical diagnostics.
Care AI provides Autonomous Patient Monitoring
Care AI is a US-based startup offering an AI-powered autonomous patient monitoring platform. The startup’s platform connects to the proprietary edge sensors and transforms ordinary rooms into Self-Aware Rooms. The platform increases patient safety, reduces medical errors, and improves the quality of care and clinical efficiency. It finds applications in monitoring hand sanitation, in-bed patient monitoring to prevent falls, and prediction of pressure ulcers, tremors, and other risks.
Ligence develops an Image Analysis tool
Ligence is a Lithuanian HealthTech startup that develops tools for cardiac risk diagnosis and measuring tools. The startup develops CardioEchoAI, a heart ultrasound image analysis tool. It uses deep learning algorithms to mimic steps performed by a cardiologist during a regular heart ultrasound examination, speeding up the analysis of 2D transthoracic echocardiography (TTE). The startup’s automated heart ultrasound imaging workflow reduces the average examination time from 30 to 5 min, as well as increases the overall accuracy and diagnosis.
2. Internet of Medical Things
IoMT is instrumental for the development of products that need less or no human interaction to provide healthcare services. Connected medical devices, equipment, and infrastructure enable multiple applications like automatic disinfection, smart diagnosis, and remote patient management to name a few. Cognitive IoMT (CIoMT) is a recent subtrend that integrates sensory information, automatic processing, and communication through networks for real-time diagnosis, monitoring, tracking, and disease control.
Uventions provides Automated Disinfection
German startup Uventions develops solutions for automated disinfection of surfaces and infrastructure. The startup offers multiple products for the disinfection of air in the room, door handles, objects, surfaces, and handrails. These solutions are easy to install in settings like hospitals, clinics, offices, airports, hotels, and even cruise ships. The system detects the presence of people in a room or door handle usage and automatically disinfects using ultraviolet C (UV-C) light radiation. The solution documents the disinfection process and reports in real-time through a dashboard.
Tredomo offers a Dose Monitoring device
Tredomo is a US-based startup developing a portable IoMT device for dose monitoring. The remote, integrated dose monitoring system guarantees on-time delivery of a valid and monitored thermosensitive dose with smart disposal. The device also continuously monitors each new dose, disposable sharps, internal and ambient temperatures, battery level, performance diagnostics, and more.
3. Telemedicine
he COVID-19 pandemic accelerated the adoption of telemedicine by many governments, healthcare systems, clinicians, and patients. To tackle the pandemic, governments issued telemedicine guidelines to decongest healthcare facilities. Telemedicine minimizes the load on facilities and reduces the use of personal protective equipment (PPE) as medical practitioners reach their patients via telecommunication. HealthTech startups are working on telehealth services that facilitate public health mitigation strategies by increasing social distancing. Telemedicine also aids to assist elderly people remotely, reduces bed space, and conserves clinical supplies.
Ceiba develops a Tele-Intensive Care Unit (Tele-ICU) platform
Ceiba, a Turkish startup, provides a tele-ICU platform. The platform offers a fully customizable proprietary dashboard, providing a snapshot of all ICU patients and beds to relay time-critical information demonstrating their need for care. The platform provides AI-based predictive alerts for sepsis, mortality, length of stay, early warning patient deterioration, acuity level scoring, automated doctor progress notes, and nurse notes. Moreover, the solution is easy to integrate with any electronic health record (EHR) platform.
Viveo Health enables End-to-End Telehealthcare
Estonian startup Viveo Health offers a fully working, end-to-end telehealthcare platform that bridges insurance and healthcare. The startup provides an online doctor consultation platform for clinics, doctors, patients, and companies. It allows users to communicate with healthcare providers through video calls, as well as book appointments. The platform also allows users to receive medical advice, e-prescriptions, or e-referrals directly from doctors by using the app.
4. Big Data & Analytics
Digitization is transforming medical data collection, storage, diagnostic techniques, treatment planning, surgical workflows, remote patient monitoring, and consultations. The volume of health and medical data is expected to increase exponentially in the coming years. MedTech startups leverage big data and analytics to analyze the unstructured and huge volumes of medical data. It improves the patient-based services, detects diseases earlier, and generates new insights into disease mechanisms. Moreover, big data solutions monitor the quality of processes at healthcare institutions, as well as enable better treatment methods.
InnVentis manages Chronic Inflammatory Diseases
Israeli startup InnVentis utilizes big data and machine learning to provide solutions for diagnostics, monitoring, and therapeutic decisions on major chronic inflammatory diseases. The startup’s platform combines high-quality data with advanced algorithms to generate actionable insights for diagnostics and disease/health management of inflammatory diseases. The startup also provides products and services for discovering drugs for rheumatoid arthritis (RA). The startup plans to extend its platform to other inflammatory conditions like asthma, multiple sclerosis, and colitis.
MediChain enables secure Medical Data Exchange
MediChain is a British startup offering a decentralized platform for secure, fast, and transparent exchange and usage of medical data. The startup uses blockchain technology to securely store health records. It provides access to a patient’s record to doctors, hospitals, laboratories, pharmacists, and health insurers while recording transactions on the distributed ledger.
5. Immersive Technology
The use of immersive technologies, such as AR/VR and MR, is on the rise in the healthcare sector. Applications for VR in healthcare vary from rehabilitation therapy and exposure therapy anxiety disorders to aiding in cognitive and physical rehabilitation. AR/VR also plays an important role in medical education. Immersive technologies also find applications in surgery, for instance for the perioperative projection of patient information, holographic images, and scans.
VRSANO develops a Brain-Computer Interface
VRSANO is a US-based MedTech startup that develops a brain-computer interface. Its technology combines VR, neurofeedback, and clinical hypnosis principles to optimize health outcomes. The startup’s patented method pulls medical patients out of a state of distress by immersing them in a relaxing virtual world. It induces a psychophysiological state that helps patients with their mental health needs. The platform alleviates symptoms and improves long-term patient outcomes while lowering healthcare costs.
Rescape Innovation suports Patient Care
British startup Rescape Innovation develops immersive technologies to support patient care in both adults and children. The startup specializes in virtual reality (VR) distraction therapy to support pain and anxiety/stress management. The solution offers cystic fibrosis (CF) patients to view therapeutic documentaries, wherein they can travel among the planets in the solar system or experience surfing, skydiving, and other adrenaline-fueled activities. The startup’s interventions reduce anxiety in patients.
6. Mobile Health (mHealth)
mHealth technologies provide access to personalized information using digital solutions and connected devices. Mobile devices enable visualization of health issues that prevent patient commitment. Unconstrained by geographical boundaries and using real-time data streams, smartphone-linked wearable sensors, point-of-need diagnostic devices, and medical-grade imaging make healthcare delivery more equitable and accessible. mHealth solutions played a critical role in controlling the spread of the COVID-19 pandemic by enabling contact tracing, surveillance, quarantine control and management, testing, and dissemination of relevant information, as well as immunization cycle tracking and notification.
M4Life develops Blockchain-based mHealth platform
M4Life is an Israeli startup developing a mobile health platform. M4Life’s provides a simplified and smooth patient/caregiver relationship, allowing information traceability inside the mHealth care chain. The startup’s platform uses a blockchain-based architecture to share prescriptions, diagnostic images, medical certificates, patient consent. Moreover, it offers a telemedicine interface for communication between patients and physicians.
Knodd provides E-Consultation services
Swedish startup Knodd provides a platform for e-consultation with pediatricians. The startup’s platform offers video calls to experienced pediatric nurses and pediatricians with more than 5 years of experience, providing safe answers about children’s health within minutes, free of charge from anywhere. The platform also has digital courses on parenting and child care.
7. 3D Printing
3D printing is gaining traction in the healthcare industry for multiple applications like printing lightweight prosthetics, bionics, and casts for fracture repair. The use of inexpensive, lightweight biomaterials and smart materials ensures improvement in care delivery and time of production while reducing costs. 3D printing technologies are advancing the development of patient-specific models of organs and surgical tools, using the patient’s own medical imaging. Another area of application includes personalized surgical instruments that increase a surgeon’s dexterity and support better surgery outcomes while facilitating faster and less traumatic procedures.
Exiom develops Reusable Support Device
Exiom is a US-based startup that uses 3D scanning and printing technology to produce customized solutions to heal fractures and sprains. The startup develops a hygienic, waterproof, breathable, itch-proof, easily removable, and reusable support device that adapts immobilization to each patient’s condition. The key benefit of the startup’s solution includes onsite printing in a clinical setting, eliminating the time and cost of recasting with traditional materials.
Graft3D assists in Surgery Planning
Indian MedTech startup Graft3D provides a solution for surgery planning and execution. It utilizes radiological-assisted 3D Model (RAM) technology to visualize a patient’s anatomy prior to surgery. The startup’s Virtual Surgical Platform (VSP) assists doctors in predetermining surgical cuts. The startup designs patient-specific implants (PSI) with informed evidence from nearly 100 successive case studies on complex surgeries. It uses a haptic device that allows doctors or surgeons to sense the bone consistency.
8. Blockchain
The security and traceability of blockchain make the technology suitable for multiple applications in the healthcare industry. Some of these include electronic medical records, remote patient monitoring, pharmaceutical supply chain, and health insurance claims. Blockchain technology supports the management of EHRs and FHIRChain (Fast Health Interoperability Records) for sharing clinical data. It also plays an important role in smart contracts, tackling drug counterfeiting, as well as storing, sharing, and retrieving remotely collected biomedical data.
Blockpharma enables Drug Traceability
Blockpharma, a French startup, develops blockchain-based drug traceability and anti-counterfeiting solution. The Blockpharma app allows the consumer to instantly check the authenticity of the drug box. BlockPharma integrates with multiple information systems and stores authenticated data on medicines stored on Crystalchain, the startup’s private blockchain. Upon detection of a falsified medicinal product, the laboratories immediately alert BlockPharma which then adds the medicine to its flagged list.
Iryo Moshi provides a Practice Management tool
Slovenian startup Iryo Moshi provides a modern practice management tool for private healthcare providers. The startup specializes in blockchain, interoperability, open EMR, consumer relationship management (CRM) areas, and provides an integrated digital healthcare platform. The platform features automated appointments, invoicing, clinical data storage and management, and digital documents and forms. The solution is cloud-connected and also is compliant with General Data Protection Regulation (GDPR) and Health Insurance Portability and Accountability Act (HIPAA).
9. Cloud Computing
Cloud computing allows clinicians to establish quality patient journeys supported by tech-enabled care delivery via telehealth and remote monitoring. It allows for greater storage capabilities and processing power for data analytics and eliminates the need for on-premise storage. Cloud platforms integrate network, security, billing, monitoring, and alerts, together with access and identity management. It also provides streamlined data access, data storage and management, data backup and recovery, smart data potential, and data interoperability, among others.
Radmol AI improves Access to Healthcare
Irish startup Radmol AI utilizes the latest advancements in cloud computing, data analytics, blockchain, and AI-based technology. It provides a platform for connecting patients and healthcare providers to local and global expert radiologists on-demand. The startup’s technology enables accessing reports from anywhere, at any time. It creates solutions that democratize access to healthcare, enabling patients, physicians, and providers.
Medified offers Mental Health Monitoring
Finnish startup Medified provides cloud-based dynamic mental health monitoring software. The software as a service (SaaS) platform aids physicians to monitor patients in real-time, helping patients get the right treatment faster and more efficiently. The software analyzes clinical data and provides valuable clinical insights, enabling remote, digital healthcare services with an interactive dashboard. It allows patients to capture and communicate daily mood and well-being to provide healthcare professionals self-treatment information in real-time.
10. Genomics
There have been notable efforts in developing genomics tools for various applications in recent times. Integration of both genomic knowledge and genomic processes into existing clinical workflows would ensure physicians perform established communication and actionable recommendations that a genomic test can provide to patients. The new arena of personalized medicine is possible due to the advent of innovations in genomics. Gene therapy and gene-based therapy solutions have revolutionized clinical medicine and specialty care for several unmet clinical needs.
Allelica performs Genomic Risk Prediction
Italian startup Allelica predicts human traits and diseases based on genomics data. The startup’s proprietary platform performs genomic risk prediction based on polygenic risk scores (PRSs). Allelica’s technology uses machine learning algorithms to accelerate clinical genomics for applications in precision medicine. The startup’s solution identifies individuals with a high genetic liability of cancers and heart diseases who are unidentified by traditional risk models.
Phosphorus provides At-Home Genetic Testing
Phosphorous is a US-based startup developing an at-home genetic test. PhosphorusONE, the startup’s test, uses saliva samples to detect diseases that are caused by multiple genes. The comprehensive test uses next-generation gene-sequencing technology to analyzes 375 different genes. It determines the risk of multiple diseases including heart disorders, inherited cancers, infertility, adverse drug reactions, neurodegenerative disease, vision loss.
