Is TeleMedicine & Digital Health the way of the future?

In this edition of the Bullfinder AI newsletter, we take a deeper dive into the current state of the TeleMedicine & Digital Health environment and explore an associated ETF - Global X’s Telemedicine & Digital Health ETF.

Is AI a key factor in the future of Digital Health?

Although there have been no re-ratings in momentum since 2022 by our Bullfinder AI tech, the founding team are keeping a close eye on this ETF over the coming months as medical applications for Artificial Intelligence continue to grow and expand.

In 2023, it was estimated by the National Bureau of Economic Research that AI could save as much as 10% of annual health care spending. As use cases for AI continue to expand, so too could this savings estimate.

Industry Growth & Forecasts…

According to Fortune Business Insights, the worldwide TeleMedicine market experienced an increase of over 8% between 2022 to 2023, surpassing $94bn, with forecasts suggesting this market could expand over $285bn by 2028.

Although these forecasts are no guarantee such performance will prevail, it does provide a worthy prospect to monitor.

Expanding Use Cases…

Thanks to recent success in diabetic monitoring, wearables are now expanding into other healthcare segments, such as cardiovascular care where wearable devices could be deployed across a combined 1.61bn adults with either hypertension or atrial fibrillation, according to Frontiers in Public Health.

Founders Guidance…

Although there hasn’t been a recent change to the Bullfinder AI Momentum rating for this Telemedicine & Digital Health ETF, our Team are watching all markers across the industry in the event there are rapid developments which may warrant higher prices.

We anticipate that if price can sustain increases above approximately $9.85 for some time, whilst some fundamental factors improve in the background, then the Bullfinder AI Tech may just re-rate this commodity as Bullish

But until then…we watch with caution as the current Bullfinder AI Momentum Rating reads Bearish.

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