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5 Amazing Improvements by Technology in Health Care Services

Innovations and technology have helped health care services to become one of the fastest growing market segments today. Major innovations in technology in health care services like interoperability, machine learning, advanced analytics, digitization, and IoT have metamorphosed the state of the health care system. Today, most of the health care services and technology firms are focusing on the management of medical costs and quality and increasing efficiency and effectiveness in administrative functions. The technology in health care services provides great opportunities to address more than one million dollars annual spending, which is the result of waste and low productivity. Let’s check out how technology has improved health care services.Ask An Analyst_IR

Technology in Health Care Services

Advent of telemedicine

With the help of technology, it has become possible for the doctors to use texts, e-mail, conference and video facilities to seek advice from colleagues from all over the world. This practice is also termed as telemedicine. This has helped doctors and patients immensely in remote and under-developed areas. The advent of technology in health services has turned out to be a boon for such doctors as they can consult experts from all around the globe to diagnose and treat and monitor conditions of patients without moving them to any sophisticated hospital.

LASER adoption is changing health care services

Adoption of Light Amplification by Stimulated Emission of Radiation (LASER) is one of the new technologies in health care services, which is changing the entire health care system. This technology is now applicable for treating several medical issues, ranging from the treatment of cancer to the removal of hair and fungus in the toenail.Request Proposal

IoT is transforming health care services

Today IoT or Internet of Things is one of the hottest topics that play a very important role in health care services too. IoT is the inter-networking of connected devices, physical devices, buildings that can gather and exchange data with the help of software, actuators, sensors, and network connectivity. It provides efficiency, convenience, and automation to the health care services, which have changed the complete game of the health care system.

The era of smart pills and ingestible sensors

Neurostimulation system that addresses chronic cluster headache and ingestion monitoring systems are some examples, which show how technology is bringing about a revolution in health care services. Also, the development of cognitive enhancement drugs is one of the latest trends in health care system that has the potential to shape the history of health care services and neuroscience in particular. The smart pills and sensors don’t make people smart fundamentally, but they do enhance the user’s memory, attention, motivation, focus problem-solving abiliGet More Infoties, and mental clarity. But there’s a lot of doubts surrounding these innovations.

Technology is helping fight against addiction

Today’s world is struggling with a variety of addictions and technology, and the health care system is changing the way when it comes to treating different addictions. Technology-Assisted Care (TAC) is known for delivering some aspects of behavioral treatment or psychotherapy directly to patients through web-based interaction with a web-based program. Also, technology in health care is proving out to be beneficial in treating substance use disorders (SUD). Another example of technology is “Project Quit” which is a web-based smoking cessation program.

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supplement market

Growth Factors for the Global Supplement Market

Today, health is not just a goal but a lifestyle choice. This shift in the preferences of the populace is driving the growth of the global supplement market. It is so evident that the sales of vitamins, minerals, nutritional, and herbal supplements have been on the rise in the last decade or so. Today, the global supplement market is worth billions of dollars and is growing about 5-6%, annually. So what is driving the growth of the global supplement market?

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Aging population

One trend that is worrying the world is the rise of aging population and the declining birth rate. In the developing parts of the world, especially Scandinavian countries, the birth rate has been declining higher than expected. This will bring about a shift in spending in the healthcare sector. As a result, drug manufacturers are focusing on dietary supplements whose purchases have been growing annually.

Consumer awareness

The advertisements of dietary supplement market have bombarded the media, be it TV commercials, magazine ads, or posters. The supplement companies have recruited celebrity doctors to endorse their products, making people believe that supplements are necessary to lead a healthy life. In addition to that, many online articles and forums like Livestrong, bodybuilding, Men’s Health, and Shape give diet and lifestyle advice demonstrating the importance of dietary supplements. Such an abundance of available information has been a key driver for consumer purchasing.

Self-care culture

“Ask your doctor to prescribe you x drug”. An advertising line that is popular across the American media has prompted consumers to be self-aware of the drugs. Today, supplement market consumers are no more relying on doctors for diagnosis, they are looking at alternative channels to identify health needs. This is also driven by the fact that insurers encourage customers to take preventive care measures. Also, many supplement market consumers validate the diagnosis of the doctor by cross-referencing the information available on the internet. This behavior has encouraged the manufacturers in the supplement market to educate customers of the product portfolio. This self-care culture is driving the demand in the global dietary supplement market.

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Channel proliferation

The manufacturers in the global supplement market are highly fragmented and serve a diverse set of customers across the world. The leading manufacturer Living Essentials holds less than 10% market share globally. Additionally, there are many private label brands which account for 10% of the sales. The lack of brand awareness amongst the customers is the reason for such market fragmentation. It comes as no wonder that a majority of the sales happen in supermarkets and hypermarkets, followed by online stores and specialty retailers. Such channel proliferation has significantly driven sales in the global supplement market.

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