Being ahead of the shifts in the health industry is important for improved patient care, better cost-effectiveness and for future investments.
Recently I was asked to present what trends could impact health & farma companies in 2024. Let me share 4 exciting trends I picked to look out for this year:
1. Longevity and lifestyle medicine
VC investments in longevity solutions keep on growing.
Lifestyle changes and lifestyle medicine are related to living a longer and healthier life.
We are seeing more and more health practices based on the 6 pillars of lifestyle medicine. And more and more hospitals, employers, and insurers are developing services in this area.
2. Hospital ventures to build new business models for hospitals
For several years now, smart hospital CEO’s and boards in the US and Europe have been investing in new forms of collaboration with startups and scale-ups.
Some do this through a separate fund, while others focus on setting up an internal venturing process and allocating an innovation budget.
However, the goal is always outside-in innovation to improve sustainability and effectiveness.
Many hospitals in Europe are facing financial problems and need to find new models: new services, revenue streams, and partnerships with payers, for example.
We expect this to continue to increase in 2024.
3. Generative Artificial Intelligence (GenAI)
Artificial intelligence is everywhere. And GenAI adds a new dimension: the creation of new content (images, text, ..).
Investors interest in AI soared in 2023, mostly in AI assistants and human machine interfaces (HMI).
But GenAI will help health care on several fronts. Think about integrating data from several systems and sources to improve the quality of care and reduce errors. GenAI will help for better patient outcomes and reduced workload for professionals (preventing burnout). GenAI can also streamline surgical procedures and mental health treatments, by embedding GenAI in medical devices.
4. Neurotech
In January, Elon Musk’s company Neuralink successfully implanted a chip in a human brain.
Neuralink was not the first nor the only one working in neurotech.
Over 1000 scientific publications on neurotech in health in the first months of this year alone. And more and more startups in this domain are getting capital.
This could potentially lead to a breakthrough in the treatment of neurological disorders, but could also have a major impact on clinical trials and mental health.
However, this also raises a number of ethical considerations that will need to be addressed in the coming years.
Let's discuss the impact of these trends for you
Don’t wait for tomorrow. Start a project on one of these topics this year. Call me or let’s have a coffee to discuss.
