TRENDS IN THE HEALTHCARE INDUSTRY
Why it matters
• Self-monitoring devices allow doctors to monitor their patients’ health remotely and to pick up symptoms not detected during a patient’s visit. The patient benefits from the convenience and comfort of seeking medical care in their home. • The government can invest in digital platforms to monitor their patients remotely, thus reducing patient load at clinics and hospitals. Promoting local entrepreneurship in the digital health scene can also contribute to Malaysia’s economy by creating new business models.
DIGITALISATION OF MEDICAL CARE
Digitalisation is changing the way patients seek medical care. The recent proliferation of mobile services such as telemedicine has driven the public to explore virtual channels to consult their medical providers.
Why it matters
• contain tremendous amount of data that can be used to drive better clinical outcomes for patients. AI uses these data in an efficient manner to aid decision-making and help accelerate the development of data-driven solutions. • Healthcare systems There is an opportunity for entrepreneurs, healthcare providers, and researchers to create an AI ecosystem in Malaysia through knowledge and data sharing. The education sector can also help expand the AI sector by offering technical courses to equip local talents with the necessary skills to develop Malaysia’s AI capabilities.
ARTIFICIAL INTELLIGENCE (AI) TECHNOLOGY
• The emergence of AI technology has brought about exciting prospects for healthcare. From medical research to aiding diagnosis, AI technology has wide outcomes in improving healthcare delivery. • Startup companies like PathAI and Zebra Medical Vision are using AI technology to improve medical diagnoses; Cambridge Cancer Genomics determines precise treatment based on clinical data; BioXcel Therapeutics identifies potential therapeutic drugs.
ADOPTION OF ADVANCE SCIENCE AND TECHNOLOGY, FINDINGS OF NEW MEDICINES, AND NEW PRODUCTION METHODS
Why it matters
Research for the development of new drugs require collaboration, utilisation of patents, and adoption of technology. The need would lead to improvements in research and development (R&D) focus areas, outsourcing and collaborations in R&D, utilisation of expiring patents to manufacture generic medications, and collaboration between companies in data management and knowledge and skill sharing.
The integration of the supply chain through mergers or acquisitions, integration of companies, transition of operational processes, and preservation of knowledge and skills is bringing about better data management, leading to more products and a wider market coverage.
Malaysian Technology Strategic Outlook 2023/2024 Energy, Healthcare & Space Industry 74
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