Few industries have witnessed the level of expanse and innovation seen by the medical industry over the course of the past 50-70 years or so. However, arguably, the greatest advancement and progress has been seen in the past decade, with shifts in demographics globally forcing healthcare standards higher; especially in developing countries.
How Have Demographics Changed?
In the Western nations, or developed countries, as they are known, we’re currently in the midst of a demographic change that is seeing the population age rapidly. For example, according to World Bank data, the average life expectancy in the UK has risen to 81.6 years, with life expectancy in the USA rising to 78.74 years, and 83.84 years in Japan.
An ageing population puts a greater strain on the healthcare industry, as more people need to use the services for longer. This forces healthcare services to react, pushing standards higher as providers seek to react to a growing demand without increasing waiting times, costs or lowering standards.
Across the world, life expectancy from birth has increased by almost 20 years over the past 50 years, which has definitely given citizens food for thought when growing a business around a young family. In the developing world, falling mortality rates in Africa also place a greater strain on healthcare providers who must work in challenging conditions. Again, the increasing life expectancy shows us the positive effects of these changes to the healthcare industry, but how are these achieved?
How Has Healthcare Responded to these Challenges?
Healthcare providers have begun to understand their position and importance in the value chain. As a result, each provider and engineer has begun to differentiate their products within the marketplace in a response to supply and demand criteria as well as market pressures in such a dynamic environment.
One way that many companies have done this is through embracing the technology behind AC-DC power supplies. This technology allows medical supplies to be sufficiently optimised, providing greater power and quality, while more than meeting lifecycle requirements and regulatory frameworks. In particular, it allows for the generation of smaller, lighter products, which is essential in an industry where time is of the essence.
Overall, this AC-DC technology can be used for home patient care, laboratory testing such as chemical analysis, the monitoring of patients with ECGs and EEGs, and diagnostic tests, including blood analysis, scanning and medical imagine. The possibilities are endless thanks to the introduction of new AC-DC based technologies which allow people to work smarter, faster.
To conclude, changing demographics across the world lead to new challenges in the medical industry. However, thanks to advancements in technology, particularly AC-DC power supplies, companies have responded well. If you’re looking for further business advice please check out my other content here.