The Future of Health and MedTech: Key Insights from SXSW 2023
I attended the first ever SXSW as a college student when it was a small regional music festival. Now, it has expanded to include film, technology, and healthcare, drawing up to 300,000 people.
As someone with an interactive badge for the SXSW 2023 event, I was part of the early adopter club, primarily comprised of web designers, developers, and startups. The event has a wild west element, as startups come here to hit the big time. Twitter launched here, for example.
The Impact on Medical Device Companies
The Health and MedTech track, sponsored by Johnson and Johnson, was a welcomed and needed addition to the 2023 event.
I found several medtech trends particularly interesting, including the advancements in women’s health, emerging therapies for brain and mental health conditions, geriatric care technology, and cross-industry innovation.
These trends and conversations were driven by patient-centric approaches, advancements in artificial intelligence (AI) or machine learning, and an increasing demand for better healthcare at lower costs.
I’ll dive into each of these trends below.
Women’s Health (FemTech)
Photo Credit: SXSW 2023
At this year's SXSW, the underfunding and understudying of women's health was considered an essential topic. The event featured innovative companies and science-backed conversations on FemTech, which included solutions and market opportunities that bring innovation and care to all women globally.
During his session, Dr. Sumbul Ahmed Desai from Apple discussed how the convergence of devices and technology could significantly improve women's health.
As part of this effort, Apple partnered with Stanford and the National Institutes of Health (NIH) to collaborate on a study that explores the relationship between heart rate and menstrual cycle data to identify health conditions such as polycystic ovary syndrome (PCOS) and uterine fibroids. The study uses an Apple Watch and a menstrual tracking app to collect participant data.
They are also using this data to explore additional ways to develop new tools to help women manage their reproductive health better.
The major takeaway, though, is that companies and institutions are investing considerable time and resources into women’s health.
Though only some of these companies were present at the event, I want to draw attention to some innovative FemTech device startups that are breaking new ground in women's health and technology.
Wild.ai uses A.I.-sourced data from wearable devices (like Apple, Garmin, Oura, or more) and manual input from active women to analyze their vitals and performance. This analysis is used to tailor training, recovery, and nutritional recommendations to their physiology.
InControl Medical aims to treat female pelvic health issues, including urinary incontinence and pelvic floor muscle strengthening, with their therapeutic medical device, ApexM. The device uses muscle stimulation and biofeedback to help women regain control over their pelvic muscles.
Madorra develops a non-hormonal, non-invasive medical device for treating vaginal dryness and atrophy in menopausal women. Their device uses low-level laser therapy to stimulate the vaginal tissues and increase blood flow, which can help alleviate symptoms such as dryness, itching, and painful intercourse.
Brain and Mental Health
The event also highlighted a range of emerging devices and technologies aimed at treating both brain and mental health conditions. Innovative treatment solutions included using machine learning algorithms, psychedelics, brain stimulation, and digital therapeutics, such as virtual reality and gaming as an alternative to traditional medications.
Here are a few notable companies in the brain and mental health space showcasing the convergence of devices and innovative technology.
Wave Neuroscience, a pioneer in cognitive health and performance enhancement technologies, led a panel at the event titled "Your Brain Data and the Future of Mental Health."
Their non-invasive approach, Magnetic e-Resonance Therapy (MeRT), is designed to help people with various neurological and mental health conditions such as depression, anxiety, PTSD, traumatic brain injury (TBI), and others.
MeRT is a personalized, non-invasive brain stimulation technique that aims to improve brain function and alleviate symptoms of these conditions.
The Cognixion ONE headset is a wearable device that uses EEG, augmented reality (AR), and machine learning technology to enable communication for people with disabilities. The device allows users to control devices using their brainwaves and facial expressions.
WetWare Biosystems' flagship product, the IRONCROWN helmet, is a non-invasive solution for treating traumatic brain injury in both military and civilian settings, such as sports injuries.
The helmet's transcranial magnetic stimulation system is activated upon impact. It has the potential to mitigate damage and counteract the effects of trauma within the first hour after a traumatic event. (You can read more about how we successfully integrated their technology with a helmet using our prototype process).
Geriatric Care (AgeTech)
AgeTech, or technology solutions designed specifically for the senior population, is another area of healthcare I have found very interesting in recent years. As the global population ages, the demand for innovative solutions to support the health and well-being of older adults has seen significant growth.
The session Beyond Biohacking: Making Healthy Aging Accessible identified new products and services aimed at helping older adults maintain their independence, manage chronic conditions, and live full, meaningful lives.
Tally Health (a spin-out from MetaLab) offers a technology platform to remotely monitor patients' health status, manage medications, and provide timely interventions to prevent hospitalizations. They tout themselves as the longevity coach for healthier aging.
Organovo is a bioprinting company that develops 3D-printed human tissue for use in drug discovery and regenerative medicine. They have developed a bioprinter called the NovoGen MMX that can create complex tissues with high accuracy.
BioCardia is a clinical-stage regenerative medicine company that develops and commercializes novel therapeutics for cardiovascular diseases. They have developed a catheter-based delivery system called the Helix System that can deliver stem cells directly to the heart to promote tissue regeneration.
Cross-Industry Innovation (Borrowing from space!)
While not explicitly categorized as a trend, I have noticed a marked increase in the amount of inspiration and innovation in medtech that originates from unexpected sources and cross-industry collaboration.
In recent years, healthcare has been actively embracing the adoption of ideas and concepts from diverse fields. For example:
The automotive industry has inspired the development of smart, connected medical devices that can monitor patients' health in real-time.
The gaming and entertainment industry has contributed to enhanced medical training through virtual reality technology.
The aerospace industry's modernization of its regulatory systems has served as an example for healthcare and medtech to keep pace with technological advancements while ensuring public safety.
The fashion industry's influence can be seen in the design of medical wearables and other medical devices that prioritize functionality and aesthetics, making them comfortable and fashionable for patients.
In their session, Designing Between Earth and Space, Phnam and Mardis Bagley talked about how space (as in actual rockets and space travel) accelerates innovations here on Earth, stretching the limits of what is possible.
The Bagley team showcased several space innovations adapted for use on Earth that significantly benefit our daily lives. For instance:
Photo Credit: SXSW 2023
Artificial limb technology was initially designed for space robots and now assists people with disabilities.
Water filtration systems used in space for the first time have found applications in areas with limited access to clean water.
Infrared thermometers created to measure temperatures on distant planets are now employed in medical diagnosis.
And first created by NASA to enhance aircraft safety, memory foam is now used for various purposes, from mattresses to protective gear.
By looking to space travel (and beyond), big businesses, startups, and entrepreneurs alike can find inspiration for creating a better life on Earth.
After all, what once seemed like science fiction to our ancestors is now our reality here in 2023.
A Sneak Peek into the Future of Healthcare Innovation
The Health and MedTech track at SXSW 2023 offered a sneak peek into the future of healthcare innovation. From cutting-edge advancements in FemTech to novel mental health treatments and the flourishing AgeTech sector to emerging inspiration from space and beyond, these exciting trends are poised to transform the medical device landscape and improve patient outcomes.