What is the next big thing? Whether it be a new business venture, technological innovation, or emerging consumer trend, there’s always been a significant value and attention placed on discovering the next big thing. Why? Because getting it right can vastly improve the competitiveness of small to medium-sized enterprises in crowded markets. Continued shifts in customer demands towards convenience and accessibility are also driving significant changes in how product offerings are developed. An ongoing shift that has now opened avenues for new product innovation ideas designed to shake up the current market landscape.
Here are a few of the potential gamechangers in the healthcare industry.
Although nanotechnology may still be within the early academical research phase, the scientific breakthroughs in their applications have been very promising. With the atomically precise nature of nanotechnology, being the size of a billionth of a meter or just under 0.000000004 inches, it's been extremely valuable in healthcare applications. In the form of nanobots, nanotechnology has been useful in attacking cancer cells, blood clots, and cardiovascular diseases. It’s also been able to treat neurological diseases, like Parkinson’s and Alzheimer’s, as their miniscule size lets them cross the blood-brain barrier. The only downside so far? The cost. Nanotechnology isn’t the most cost-effective solution compared to other treatments, but with continued research and development, it will become a more financially viable solution.
Despite not being quite as transformative as nanotechnology, eHealth apps are still providing significant value for consumers within the healthcare industry. With over 6.5 billion smartphones subscriptions currently active, and a further 1 billion expected by 2027, eHealth apps are taking advantage. Designed to facilitate health improvement and health care services, eHealth apps are taking advantage of the convenience and accessibility of smartphones to provide consumers with greater control over their personal health. Heart monitoring apps like Coala and symptom monitoring apps like Elsa will become more prevalent as consumers increasingly exert influence over the future of healthcare.
The development and production of prosthetics has improved significantly since WWI, and we may be entering into a new age of dramatic innovation in the field. Prosthetics themselves have been around for quite some time; best estimates range from 950 B.C. to 710 B.C. However, as technological developments have improved, prosthetics are no longer limited to just restoring limb functionality. Now they're able to provide comfort and be controlled by the brain which allows for the sensation of touch to be restored. As time continues to pass, it's likely that prosthetic developments will reach levels where they're almost an exact like-for-like replacement of human limbs. With full functionality and sensation to boot.
A new era of consumerisation has arrived. One that will dictate a new direction of healthcare, disrupt the current traditional landscape and slowly transition a reactive industry into a more proactive one. Advancements in technology will help this transition and meet the demands of consumers who are clear in what they want. Now it's just about listening and delivering it to them.
