The weakness of the present healthcare system revealed by the Covid-19 crisis, along with the rise in chronic diseases associated with lifestyle changes and a rapidly aging population worldwide will shape the future of healthcare. Next-Generation Research Analyst Dr. Damien Ng took a close look at recent developments in digital healthcare, genomics, and extended longevity.
Related article: https://www.juliusbaer.com/en/insights/shifting-lifestyles/digital-health-genomics-and-exended-longevity-three-trends-defining-the-future-of-healthcare/
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00:29 Trend 1: Digital health
01:27 Trend 2: Genomics
01:35 Trend 3: Extended longevity
Although the Covid-19 crisis has stretched medical resources around the world to breaking point, it has also led to a boom in online medical services. As personal visits to physicians have been rendered more difficult due to a raft of restrictions like quarantining and social distancing to break the chain of infection, the ushering-in of telemedicine in the form of online consultation services has undoubtedly helped homebound patients to seek medical advice on the internet. In other words, the Covid-19 pandemic has not only accelerated the adoption of telemedicine among the healthcare community as a way to deliver care to patients, but it has also enabled patients to talk with their doctors about any suspicious viral symptoms, including chills, cough, muscle pain, sore throat, or loss of taste or smell.
It may be easy for us to get emotionally worked up as a result of the intensive media coverage of the Covid-19 pandemic, along with the unprecedented implementation of lockdowns worldwide, and think that Covid-19 is the world’s only health challenge. But of course, medical professionals are also silently fighting battles against other deadly diseases, and it is vital not to lose sight of that fact. In particular, cell and gene therapies have increasingly emerged as a promising treatment option for a myriad of complex clinical conditions. These may include genetic disorders that arise from malignant mutations in our DNA, such as cancer and sickle-cell disease, as well as non-genetically acquired diseases, such as Ebola, the human immunodeficiency virus (HIV) and the bubonic plague.
The growing prevalence of chronic diseases associated with the increasing share of the greying population will have profound implications for the healthcare systems for decades to come. It is therefore in this context that assistive technologies that enable healthcare professionals to continuously monitor the health conditions of the elderly should become even more important in the future.
Older patients can benefit in a number of ways from the progressive uptake of digital-health technologies. Not only can healthcare specialists help ageing individuals reduce the likelihood of contracting more severe forms of chronic diseases through the early detection of health abnormalities, but hospital admissions can also be avoided, thereby relieving pressure from healthcare systems and keeping a lid on burgeoning medical costs.
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Julius Baer is the international reference in wealth management, based on a solid Swiss heritage.
The story of Julius Baer began over 125 years ago with the vision of one man. In the 1890s the company’s founder and namesake, Julius Bär, established himself as a young and promising banker on Zurich’s famous Bahnhofstrasse.
What initially started as a humble family business has grown over the decades into the international reference in pure private banking, with more than 50 locations in over 25 countries worldwide.