The overall healthcare ecosystem is moving towards small set-ups from larger & complex set-ups, lead by innovations in the area of home-based diagnostics, remote screening and monitoring solutions, and telehealth. A major focus of innovation has been the miniaturization of different sub-components to make the diagnostic & monitoring devices portable, accurate, and economical, along with real-time analysis/output.
An increasing shift towards home care, early detection, less invasive procedures, and cost efficiency among other drivers are further fueling the need for point-of-care low-cost diagnostic devices and equipment. Technology, chemicals, semiconductors, and material players are busy answering unmet needs through miniaturization. These players are using exponential & incremental technologies like AI/ML, 3D printing, IoT, synthetic biology, nanoelectronics, microfluidics, etc., to improve the competitiveness of their existing product offerings and deliver disruptive products. Apart from reducing size for large diagnostic/imaging products, miniaturized diagnostic solutions are also being integrated with products like smart wearables, mobile accessories, etc. which are eventually connected to electronic health records (EHR).
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