In many Asian countries, healthcare startups and innovators receive special incentives from government agencies in the form of capital support, R&D fund establishment, and support to incentivize startups. This company makes public health more efficient
And to a greater extent, HealthTech companies in Asia have been able to make processes and systems more efficient, cost-effective, and widely available.
Today, emerging technologies such as 3D printing, AI, and blockchain have provided opportunities for startups that were not available to previous generations, even though companies operating in the traditional healthcare sector and having prestige is also jumping into this medical technology group.
Entrepreneur Asia Pacific has looked at four trends that could shape and even change the face of the Asian healthcare industry in 2020.
- Care for the elderly .
By 2050, more than a quarter or 1.3 billion people in Asia Pacific will be considered elderly, aged 60 years or older, a study by the United Nations Economic and Social Commission on Asia and the Pacific shows.
Asia has the largest aging population in the world, led by Japan, where one in two people between the ages of 20 and 64 is over 65, according to a report by the World Economic Forum. As a result, long-term health issues are an important part of the broader health sector in Asia.
Healthcare for ‘silvers’ is not unheard of. Nursing homes, round-the-clock nursing home care, physical therapy, and routine checkups as part of a health insurance policy are some of the ways aged care has managed to date. , and the legacy companies have put in place the resources to create a more efficient way of doing things.
Aging is also not a new phenomenon in Asia and the companies that serve this segment. But, with the help of technology, startups have been able to refine this space to a large extent.
Low-cost long-term care (LTC) platforms due to automation and technology have been able to make inroads into the aged care sector, especially after the premium to LTC is increasing recently.
Research is funded to find a cure for chronic diseases like diabetes, arthritis and blood pressure, making LTC even more expensive, as well as gene therapy that fights disease through treatments targeting.
More and more startups are involved in the preventive surveillance of age-specific conditions, such as dementia, low mobility, and loss of bone density, so that people can start exercising. Take steps to prevent or at least delay the onset of the disease.
- AI can do everything. And so does Blockchain!
Artificial intelligence is not just a buzzword that startups use to get attention – it has far-reaching implications in the medical field when it comes to analyzing large datasets, like health records. health, genetic profile, diagnostic assessments, clinical trial results, etc.
AI can also use patterns and trends emerging from data to draw conclusions at a much faster rate than researchers, and can sometimes even suggest next course of action.
Pharmaceutical companies worldwide are implementing AI and using machine learning to shorten drug development times, analyze data from clinical trials faster and more efficiently, and use power out-of-the-box computing to discover new products in silico.
Blockchain is another technology that has exploded in popularity in 2019. In the medical services landscape, blockchain is being used to store patient information, diagnostic test results, and hundreds of irreplaceable data points. changes that are securely accessible to healthcare providers.
Governments in Asia Pacific are increasingly reducing their burden thanks to the rise of blockchain by adjusting policies and incentivizing companies to develop the technology for other applications, such as financial services. main and charity tracking.