HealthTech predicted to grow significantly post-lockdown

The HealthTech market is expected to continue to grow substantially over the next couple of years, according to WELL.

WELL (HAN-GINS Indxx Healthcare Innovation UCITS ETF), tracks the Indxx Advanced Life Sciences & Smart Healthcare Thematic Index, an index designed to measure the performance of large, mid, and small companies involved in the advanced life sciences and smart healthcare sector.

According to the company, healthcare cloud spending has enabled telemedicine to flourish during the pandemic, and this will expand further as people return to normal because of the tech’s ‘convenience’ factor.

WELL said that evidence of this includes the fact that many mainstream medical insurance plans now include insurance for Telemedicine.

In the US this is expected to lead to a trebling in the number of telemedicine patients by 2023 to 64 million, from just 21 million in 2019, with the annual growth rate in 2020 almost hitting 100 per cent.

WELL also expects Gene Sequencing and Intuitive Surgical Robotics to experience significant growth as genomics become increasingly mainstream across the medical field, with robotic surgery leading to fewer infections and reduced hospital stays.

Healthcare trackers and wearables are increasingly popular too – WELL expects BigTech to become increasingly active in this space.

“The Covid-19 crisis is forcing healthcare systems to innovate, fast-tracking digital health adoption rates,” said Anthony Ginsberg, co-creator of HAN-GINS Indxx Healthcare Innovation UCITS ETF. “Cloud-based hospital spending is enjoying a boom and enabling new health-tech products and services.Gene Sequencing and Biotech areas are seen as increasingly mainstream for healthcare solutions such as vaccines.

“Remote wearables and trackers and Telemedicine are experiencing a huge surge due to private and government insurance now covering such procedures. Telemedicine is on track to grow by over 30 per cent annualised between 2021-2025."

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