A report drafted by the Allied Market Research predicts that the market of devices connected to the Internet will reach a turnover of approximately 136.8 billion dollars by 2021. As of today, there are approximately 3.7 million medical devices in use in the world which are connected to the web and which monitor the various parts of the body and memorise data that is invaluable to the health of each patient. The IoMT refers to the system connected to medical equipment and applications that gather data then transfer it to national healthcare systems.
There are different factors that have contributed to this exponential growth, of particular note the massive growth of wearable devices and lower costs of technology in general. Now all the devices are connected and it is truly easy to access hospital networks. To this situation, add the troubling data that shows an increase in chronic diseases that require specific cures and better treatments, to which the healthcare systems respond by attempting to implement technological innovations to curb costs (equally exorbitant). The expansion of technologies thanks to the web, together with the growing authorisation to use these discoveries on behalf of the governments, has allowed IoMT to grow extensively.
The general ageing of the world’s population continues to burden national healthcare systems
The IoMT could be the solution for all our communities, considering that our national healthcare systems will continue to accumulate stress due to the fact the world’s populations continue to grow old. By 2025, 1.2 billion (out of 8 billion people on earth) will be considered elderly: this is the equivalent of the entire nation of India. The elderly tend to have various health problems which translate into higher healthcare costs.
An increase in life expectation therefore corresponds to increased medical care costs. The IoMT might provide a better way to take care of the elderly and has excellent potential to help defray rising healthcare costs. Devices connected to the IoT can track and memorise data related to health, blood and many other body systems, and even the quality of sleep. When an elderly person forgets to take daily medication, the medical device could help remind them via an alert, registering the hour they are to be taken and dosage. We can imagine the convenience of preventing an extra doctor’s visit to have the results of blood and urine work read to us: medical devices, thanks to general parameters, could speed up the entire process, notifying us or not of the need to further evaluate the health situation with more examinations.
In conclusion, the IoMT offers countless opportunities, in terms of saving money as well as time.
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