Skip to site menu Skip to page content

Daily Newsletter

07 August 2023

Daily Newsletter

07 August 2023

Signal: despite hirings cooldown, growth in healthtech seems inevitable

The July slump shouldn't be read as an indictment of the sector but as proof of its longevity.

Isaac Hanson August 07 2023

Among the recent developments in the healthcare technology (healthtech) industry have been the acquisition by remote care management company MD Revolution of NavCare, another provider in the space, and the introduction of digital consultations by Amazon Clinic across the US, with message-based consultations in 34 states.

These moves reflect the industry's growth and are complemented in this way by an increase in job opportunities within the sector. GlobalData research shows that active job listings in healthtech globally are up 28% year on year at the start of August. This is despite July seeing a drop in active listings from a high of around 66,000 to 53,000, based on the listings GlobalData has identified.

Virtual care listings have seen an even sharper increase, with an 84% increase in active listings compared to the beginning of August last year, though the sector is still showing signs of a July downturn.

Elsewhere, personal health data listings have seen year-on-year growth, while trends for the other major areas of precision and personalised medicine, electronic medical record systems, smart hospitals and health and safety have tracked relatively level.

US healthcare facilities giant HCA has been particularly active in the field lately, posting around 25,000 jobs in May and June alone. Many of the postings were not directly related to building infrastructure but rather regular clinical jobs that increasingly feature a telehealth component.

Last year, meanwhile, it announced an investment into medical wearables start-up VitalConnect to help expand its remote patient monitoring platform, allowing it to build capacity through partnership rather than solely in-house.

Our signals coverage is powered by GlobalData’s Disruptor data, which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors. These signals help us to uncover key innovation areas in the sector and the themes that drive them. They tell us about the topics on the minds of business leaders and investors, and indicate where leading companies are focusing their investment, deal-making and R&D efforts.  

Healthcare companies are hesitant to invest in the metaverse

The COVID-19 pandemic pushed the healthcare industry to rapid digitalization. Increased use of telehealth, telepresence systems, remote diagnostics, predictive AI, and wearable technology is changing how healthcare is delivered and improving patient outcomes. Emerging technologies such as AR and VR are becoming increasingly routine for professional training, surgical assistance, and treatment of psychological and neurological disorders. In the pharma and medical devices industries, AR, VR, and AI are rapidly accelerating drug discovery and manufacturing and generating supply chain efficiencies. New digital opportunities will look to build upon disruptive technologies. However, affordability is a limiting factor to widespread adoption. Per GlobalData estimates, the metaverse market is expected to grow at a CAGR of more than 33% between 2023 and 2030. Although metaverse technologies could reinvent healthcare approaches and bring new experiences to healthcare providers and patients, adoption is still at an early stage. There are currently few use cases in the healthcare industry. The metaverse needs to overcome major challenges for healthcare, including regulation and data privacy concerns. Evidence of proven use cases and participation by a critical mass of users are imperative to drive a shift in metaverse investment.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close