Sep 24th, 2021
Exorbitant costs underscored by byzantine processes plague today’s healthcare systems, creating an $8.45 trillion global healthcare market in 2018, which represents about 10% of GDP in developed countries. Safe to say, the industry is looking for solutions, particularly more efficient ones that improve health outcomes and lower direct and indirect costs. The answer is found in technology, with healthtech (healthcare technology) and medtech (medical technology) buzzwords speaking to leveraging next-generation innovation in a bid to flatten the healthcare spending curve. New applications are being launched daily, and uptake is accelerating, fanned by the COVID-19 pandemic that bolstered adoption of self-diagnostic and remote solutions that have been embraced by health insurers and individuals alike. Some companies, such as Nemaura Medical Inc. (NASDAQ: NMRD) (Profile), are specializing in certain areas of unmet medical need, such as diabetes and obesity for NMRD. Others, including some of the most recognized names in the world such as Tesla Inc. (NASDAQ: TSLA), Apple Inc. (NASDAQ: AAPL), Garmin Ltd. (NASDAQ: GRMN) and Amazon.com Inc. (NASDAQ: AMZN), demonstrate the tremendous opportunity at hand for investments in new technologies and healthtech.