Sector Spotlight - Health Tech Trends in 2023

May 23, 2023
  |  by 
Trishal Kaur

What’s going down?
Amidst slower economic growth, and high inflation, it is no surprise that healthcare spending will fall in 2023 as compared to previous years. Nevertheless, the rapid adoption of technology and digitisation means that the industry is changing swiftly.

Why should APAC businesses care?

Why are we at Bud excited about this?

AI continues to be a game changer and in 2023, we can expect to see more evidence of its usefulness in the healthcare sector. For example, it was recently discovered that language models similar to the ones used by ChatGPT, have been used to improve antibody therapies against COVID-19 and other viruses. Hence, we can expect to see more use cases of AI emerging in the next couple of months.

What’s next? 

The advent of technology has made health related applications and wearables more advanced and accurate. Thus, we can expect to see it play a more important role in healthcare moving forward. Additionally, as health-related apps and wearables are made available across borders, companies providing such services will need to navigate increasingly complex legal frameworks in 2023.