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The coronavirus pandemic has accelerated the development of the medical technology industry in Ukraine. At the same time, global market growth exceeded forecasts of previous years by 73%. Along with the demand for early diagnosis of diseases, telemedicine solutions and other medtech projects, the demand for IT specialists has also gone up. According to the IT company GlobalLogic, since the beginning of 2020, the number of Ukrainian engineers on medical projects has increased by 35%.
Globally, since 2013, the telemedicine industry has grown 4 times in volume and in 2020 reached $62.45 billion. At the same time, the market is developing faster than was expected in the basic scenario before the pandemic – 73% growth exceeded forecasts of previous years. According to the Global Telehealth Market report, the telemedicine market will grow by an average of 26.5% annually and reach $475.5 billion by 2026.
Global medtech companies have expanded their range of services and technologies with increasing demand for digital medicine. So, two-thirds of them expect that online channels will account for more than 20% of their revenue in 4 years. In 2020, 80% of healthcare companies have reallocated more than 20% of their marketing costs to digital channels.
The development of medical technologies has accelerated in Ukraine as well. Among the largest medtech developments that GlobalLogic specialists in Ukraine work with are telemedicine tools, platforms for clinical trials, automated medication-delivery systems, and solutions for early diagnosing of diseases thanks to artificial intelligence. In total, there are more than 100 products of varying complexity.
About GlobalLogic
GlobalLogic, a Hitachi Group Company, is a leader in digital product engineering. We help our clients design and build innovative products, platforms, and digital experiences for the modern world. By integrating our strategic design, complex engineering, and vertical industry expertise with Hitachi’s Operating Technology and Information Technology capabilities, we help our clients imagine what’s possible and accelerate their transition into tomorrow’s digital businesses. Headquartered in Silicon Valley, GlobalLogic operates design studios and engineering centers around the world, extending our deep expertise to customers in the automotive, communications, financial services, healthcare & life sciences, media and entertainment, manufacturing, semiconductor, and technology industries.
