Pharma and Healthcare Technology is an intervention that is used to prevent, diagnose or treat disease or for rehabilitation or long-term care. It includes pharmaceuticals, devices, procedures and organizational systems used in health care.

Medical Technology is a subset of healthcare technology. It consists of various healthcare products and is used to diagnose, monitor or treat diseases or medical conditions affecting humans. Such technologies which are the applications of medical science will improve the quality of healthcare through early diagnosis, less invasive treatment options and reductions in hospital stays. Medical technology includes medical devices, information technology, biotech, and healthcare services.

The work of medical technologists and medical laboratory technologists are into clinical applications of chemistry, genetics, hematology, immunohematology or blood banking, immunology, microbiology, serology, urinalysis and miscellaneous body fluid analysis.

Healthcare Technology is changing the way health care is delivered in hospitals and medical practices across the country. There is various new health IT and patient care developments that are increasing day by day. 

Pharma and Healthcare Technology trends

As per the reports given by Power Your Practice, four of the most unique and interesting healthcare technology trends are Telemedicine, Personalized Health Records, Robotics, and Cyberchondria.

In Telemedicine, doctors are allowed to travel freely and still consult with patients; hence telemedicine has proven itself to be an empowering technological advancement for physicians.

Personalized health records, is the ability for all of a patient’s medical information to be collected together into a single electronic entity is major a step toward the cultivating the personalized healthcare system of the future.

Hospital pharmacies are using systems like IntelliFill i.v. to accurately prepare intravenous drugs for delivery, reducing waste and medication errors. Mobile robots like Nursebot help an elderly person execute household tasks, and also avoid injury.

Cyberchondria is the wealth of diagnostic medical information available online. Tools like WebMD are available to help people to investigate medical issues and be more educated about their health.

Pharma and Healthcare Technology Industry Current Trends

According to the reports given by the U.S. Bureau of Labor Statistics, the growth in the healthcare technology industry will yield 3.2 million new jobs between 2008 and 2018 and jobs in home healthcare services and diagnostic laboratories are expected to grow at the fastest pace around 40 percent over the next 10 years.

In U.S, the hospitals, academic medical centres, clinics and laboratories provide sophisticated, technologically advanced care and serve as a platform for biomedical innovation. 

Major Industry Players

Some of the global Pharma and healthcare technology industry players are 3M Health Information Systems, CML HealthCare Inc, ConvaTec, GE Healthcare etc.

As per the reports given in DailyFinance.com, 3M Health Information Systems delivers innovative software and consulting services designed to raise the bar for clinical documentation improvement, computer-assisted coding, performance monitoring.

As per the reports by PharmaLive, ConvaTec is a world-leading developer and marketer of innovative medical technologies.