It is the best yet the worst of times entering the era of AIoT, also an era fill with epidemics. With the continuance of the COVID-19 worldwide, innovative medical devices driven by smart healthcare play a more important role. Mobile big data can track the movements of people, while automated systems can be used to disinfect, deliver meals, and even fill gaps in production capacity. Health monitoring platforms using machine learning algorithms to track various infectious diseases can also provide early warnings on epidemics.
According to BMI report, the size of the medical device industry around the world will increase from US$389.9 billion in 2018 to US$490.2 billion in 2022, a compound annual growth rate of 5.9%. Moving with the developing trend of innovative technologies such as the IoT, big data, AI, and machine learning, the market development prospects are promising. In addition to increased investment by medical device companies, many new ventures and technology enterprises have also joined the industrial investments.
Taiwan, with such strong manufacturing experience should make good use of its excellent ICT and world-class medical standards to develop further on AI, big data, mobile healthcare and telemedicine, and smart hospitals with the data foundation built by the national health insurance toward precision, personal, and high-value medical devices.
Among all, AI and big data are being implemented for image data analysis and diagnosis and its emerging applications, such as the Non-Mydriatic Auto Fundus Camera by Crystalvue Medical Corporation, a Taiwan Excellence Award winning enterprise. The camera is sold to more than 40 countries around the world and serves as references for clinical diagnosis of diabetic retinopathy, age-related macular degeneration, glaucoma, and other ophthalmology-related lesions.
Through digital applications, in terms of mobile healthcare and telemedicine, Rightest Precision Healthcare Ecosystem from Bionime collects and analyzes health data through digital health service stations, and converts them into easy-to-understand charts. These powerful remote care services can effectively manage health and provide proper solutions for professional in-house and out-of-hospital follow-up care.
In terms of smart healthcare, Netowns Health Evaluation and Exercise Enhancement System is the first of its kind in Taiwan, an AI conducted exercising machine with simple interface that takes very little space integrates muscle loss assessment and muscular coordination and balance. It performs to assist seniors with their health management and effectively reduce the risk of disability development.
Taiwan has set a perfect role model for the world with our countermeasures against this massive novel coronavirus outbreak. In order to show the world the competitive advantages from Taiwan healthcare industry, on top of digital publicity, Taiwan Excellence organized more than 7 relevant local and international events throughout the year.
The professional exhibitions are Medical Taiwan (June 11-13), IDEM Singapore (June 19-21), AACC (July 26-30), AGExpo (August 20-23), and MEDICA Germany (November 16-19). Taiwan Excellence and the award-winning enterprises are working together to promote Taiwan healthcare where Taiwan is bound for a place in the global market.