Why is everyone talking about MedTech companies?
Nowadays the healthcare sector is trendy, no doubt. Due to the COVID-19 situation everyone is talking about vaccines, serological tests, antibodies, ARN and even more complex concepts about which half of the people had not even heard about some time ago. Exactly the same happens with businesses, the pandemic speeded up the appearance of many new companies and the terms #MedTech, #Digitalhealth, #eHealth and many others are now in the media almost every day. If you are wandering what do these terms mean and what is the difference between all of them, pay attention.
The healthcare sector could be divided in the following big groups
Classic #Pharmaceutical companies: Which basically develop and commercialize drugs. Research activities for the discovery of new drugs are also performed by pharmaceutical companies, but always with the focus on selling them.
#Biopharma or #biotech companies: Which research biological processes or living organisms in order to look for biotechnology breakthroughs and develop new medicines, treatments and therapeutics. Companies developing biotechnological products for agriculture or other similar fields are also consider biotech.
MedTech companies: Which develop new treatments, surgical procedures, diagnosis processes or others through technology. This group could be principally divided in
Medical devices companies: Those that develop hardware products for medicine
Digital health companies: Which uses information, data management and communication networks to improve or extend healthcare services. As digital health is growing fast, many classifications consider it a different group itself. #eHealth, #telemedicine, #mHealth and many other subclassifications are consider part of digital health
AI for Health companies: Which applies any kind of artificial intelligence to healthcare data (medical imaging, clinical histories, patient responses, pathologies evolution, etc) in order to improve and customize diagnosis, treatments, interpretation of responses or any other aspect of healthcare
Other healthcare companies: There are every day more and more new applications of technology and new business models involving healthcare services, which maybe today do not have a clear classification yet, but it will do soon, as the appearance of new companies is constant
As you can already imagine at this point, Sycai Technologies is a company which applies AI to medical imaging, so it is a #MedTech company, sector that has been growing rapidly in the last years and will continue.