The digital face of tomorrow’s medtech: What Web Summit showed us about medtech’s future

The sunny shores of Lisbon, Portugal might not immediately strike you as being a hotbed of medical innovation. But as the annual Web Summit conference arrived in the city in late 2018, it brought with it healthcare start-ups and medical technologies from around the globe to offer a glimpse into the wide-ranging future of medical technology.

With the exception of a slight dip in 2015, the medtech industry has been growing in value since 2011 and is projected to reach just under $600 billion by 2024.

When you consider this, alongside the ageing population, it’s not surprising that medtech developments are being championed at non-medical conferences. CES 2018 saw L’Oreal launch wearable UV sensors to protect against skin cancer, while Web Summit 2018 highlighted a range of technologies, from wearables to blockchain, that are set to change medical care as we know it.

Wearable healthcare is arguably one of the most widely accepted forms of medtech developments in recent years, and a wearable medical device in itself is nothing revolutionary in 2019. However, there are two areas of development that are noteworthy: biometric sensors and advanced algorithms. Together, they can make wearable devices more effective.

Ireland-based Think Biosolution showcased exactly this at Web Summit with its QuasaR sensor technology and accompanying software. QuasaR measures seven different biometrics including heart rate variability and blood oxygen saturation, making it one of the more advanced healthcare sensors available.

The wearable also includes an operating system coupled with AI haptic feedback modes, which combines biometric and positional data to signal to users any number of things, such as if they are stressed or their optimal running speed to burn fat or build endurance.

Building on this, another company, Manchester-based Lightbringer, developed an ecosystem of sorts to ensure that users of its wearable were safe. It’s Guardian Angel system combines biometric sensors and a smartphone app with AI that can detect symptoms of problems and, upon a serious issue arising, can automatically notify a Lightbringer operation centre and summon emergency services.

Both of these technologies make the wearable more than just a collator of user data, but a valuable service in its own right.

Similarly, one area of discussion at Web Summit’s Healthconf stage was smart surgery. Rather than focus solely on surgical robots, the talk explored the role of AR to offer visual insight into patient vitals. For example, a surgeon could use AR after scanning a patient to see organ information overlaying their location on the body, according to Avegant COO Annie Rogaski. It’s an interesting idea, and one that may complement smart surgery operations in the future.

Almost unavoidably, the final area of focus at Web Summit was blockchain. For many in the industry, the concept is so intertwined with cryptocurrencies that it is easily dismissed. Despite this, European blockchain company Ambrosus has built its business on making blockchain not only a practical solution, but one that is alleviating the persistent problem of counterfeiting in the global pharmaceutical and medtech supply chains.

The company combines its blockchain platform with hardware assets, such as sensors and analytic devices, to maximise traceability of products through a global supply chain. Effectively, the technology combines the accepted aspects of modern IoT systems with the immutable record-keeping of blockchain to create a supply chain that is traceable and transparent.

It may not be a medtech event, but Web Summit has offered an interesting insight into the future of medtech. If today’s technology is all about providing us with information, these developments show that tomorrow’s technology is about making information impactful.