What is Being Bought in the Healthcare Marketplace in 2023?
Healthcare purchasing trends are constantly shifting to integrate the newest technologies, improving the quality of patient care overall by putting the patient first. The healthcare industry is witnessing many emerging trends in purchasing habits in 2023, with some products, services, and technologies driving change in the healthcare market. These advancements are incredibly promising for the future of healthcare.
However, determining the exact trends to watch out for can be challenging. Our guide will provide expert insights into the latest healthcare purchasing trends to ensure you can lead your healthiest life and provide customers with the best service possible. Let’s get started!
What’s Being Bought in the Healthcare Marketplace?
The healthcare market is flourishing because of many technological and digital advancements that have significantly transformed the industry. Below is a breakdown of the primary healthcare products driving the industry forward.
Artificial Intelligence
Like many industries, a highly sought-after asset in the current healthcare sector is technology with artificial intelligence (AI) capabilities. AI products are increasingly important for healthcare providers to personalise treatment, gather accurate patient insights, and improve patient outcomes.
AI in healthcare is a massively expanding market. According to one report, AI in healthcare is estimated to reach a total value of USD 308.9 billion by 2030, with a 35 percent compound annual growth rate (CAGR) between 2022-2030.
Wearables
Wearable healthcare products are another trend to watch out for in the healthcare marketplace in 2023, and looking ahead. Wearable medical devices like smartwatches and fitness trackers are essential to daily life for many people and can cover various health purposes to meet customer needs. These devices constantly measure everything from blood pressure to ECG and heart rhythm irregularities to protect wearers.
Suppliers for public sector healthcare can expect to see more wearable devices appearing in the marketplace in years to come as digitization in healthcare coincides with the increase in smart technology.
Telehealth
The COVID-19 pandemic has massively shifted how people approach healthcare in recent years, and telehealth is one of the most notable innovations in healthcare. These services allow patients to communicate virtually with their care provider rather than meeting in person and are a cost-effective and convenient solution.
In 2023, telemedicine products will continue to be essential for healthcare workers and patients. Telehealth is faster than traditional appointments and simplifies the integration of patient information from numerous appointments into a single platform. Given that 55 percent of patients are more satisfied with telehealth services than traditional in-person services, paying attention to this market sector is necessary for healthcare suppliers.
Health Apps
Healthcare apps allow patients to access their information from their digital devices. These innovative apps quickly provide an electronic patient record system that allows patients and providers efficient access to relevant patient details to stay informed at all times.
Nanotechnologies
Nanotechnology is increasingly relevant in healthcare and involves manipulating materials at the molecular and atomic levels. In healthcare, nanotechnology is used to develop various diagnostic tools and healthcare products, including the following:
- Drug Delivery: nanotechnology helps direct drugs to specific parts of the patient’s body more effectively and efficiently than traditional methods.
- Imaging: nanotechnology is being explored as a way of improving imaging techniques. It is designed to bind to specific molecules in the body, allowing doctors to visualise disease processes at a molecular level.
- Tissue Regeneration: nanotechnology is used to develop materials that can help regenerate damaged tissues causing problems for the patient and mimic the extracellular matrix, providing a scaffold for cells to grow and regenerate.
- Cancer Treatment: nanotechnology advancements allow these products to target cancer cells directly, reducing damage to healthy tissues surrounding the cancerous cells. Nanoparticles can be loaded with medicine for targeted, effective cancer treatments.
What to Know About NHS Tenders
Tendering is a vital process in the healthcare marketplace in 2023 and the world of healthcare contracts. Understanding how to get healthcare contracts is simpler by breaking down NHS tenders. Tendering describes the process where a business is invited to bid on health care contracts from public-sector organisations for specific operational purposes.
The UK National Health Service (NHS) procures in-demand goods from suppliers for healthcare buyers seeking specific goods and services to meet patient needs. For many companies, NHS tenders are hard to win, meaning that your product must have a broader appeal to be selected.
The tendering process ensures that the NHS gets the best possible value for the cost when it contracts services. Providers interested in bidding for a particular contract must submit a detailed proposal, which outlines how they plan to deliver the required service, the costs involved, and any other relevant information.
How to Get Healthcare Contracts
Understanding how to get healthcare contracts with the NHS can help suppliers profit and thrive. Receiving healthcare contracts requires the following actions:
- Registering with the NHS Supply Chain to access contract opportunities, supplier events, and information about upcoming tenders
- Identifying various tender opportunities through the NHS to identify opportunities that match your expertise.
- Reviewing the tender document carefully to understand the scope of the contract, selection criteria, evaluation process, and submission requirements
- Preparing a contract bid based on how well you can deliver the services in your proposal
- Submitting the bid to the NHS per the submission requirements
- Awaiting feedback from the NHS on whether or not your bid is successful
Find Out More About Healthcare Contracts With HCI Contracts
Understanding the latest trends in healthcare can help you navigate NHS tenders and secure a contract you’re satisfied with. Staying current on the latest trends and advancements in the healthcare marketplace requires constant insights and expert guidance to sustain your business in an increasingly competitive industry. Services like Health Contracts International (HCI) provide the knowledge necessary to make intelligent decisions for your financial future.
HCI Contracts offers expert advice on all things tendering to ensure you know how to get healthcare contracts without all the hassle. Get a free demo from HCI Contracts today to identify what’s selling in the healthcare market and learn how to secure healthcare contracts.
