Just a tidbit from a research article on the coming medical use for wearables.
Very few things appear to be as exciting in technology as wearables, connected health, and especially, IoMT- the Internet of Medical Things.
I’m a fitness junkie myself and recently started to use a wearable device to track my heart rate and count my steps.
But what was once used almost exclusively for fitness purposes may have even more benefits nowadays.
According to a GlobalData report, wearables and connected devices may have their most significant healthcare potential in addressing rising healthcare costs and aging populations.(2)
Goldman Sachs also claims that wearables and digital health could save the U.S. healthcare industry up to approximately $300 billion.(3)
Most impressively, though, is the potential connected devices have to possibly collect, analyze, and transmit health information to track and prevent chronic illness.
“The rise of IoMT is driven by ‘an increase in the number of connected medical devices that are able to generate, collect, analyze or transmit health data or images and connect to healthcare provider networks, transmitting data to either a cloud repository or internal servers,'” claim analysts at Deloitte.(4)
It’s not surprising to see the growth potential here. The total connected health market appears to be growing at an estimated 27.6% CAGR with the potential to reach roughly $188 Billion by 2024.(1)
Another report from AllTheResearch also claims that the global IoMT market could reach approximately $254,233.6 million by 2026.(5)
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Very few things appear to be as exciting in technology as wearables, connected health, and especially, IoMT- the Internet of Medical Things.
I’m a fitness junkie myself and recently started to use a wearable device to track my heart rate and count my steps.
But what was once used almost exclusively for fitness purposes may have even more benefits nowadays.
According to a GlobalData report, wearables and connected devices may have their most significant healthcare potential in addressing rising healthcare costs and aging populations.(2)
Goldman Sachs also claims that wearables and digital health could save the U.S. healthcare industry up to approximately $300 billion.(3)
Most impressively, though, is the potential connected devices have to possibly collect, analyze, and transmit health information to track and prevent chronic illness.
“The rise of IoMT is driven by ‘an increase in the number of connected medical devices that are able to generate, collect, analyze or transmit health data or images and connect to healthcare provider networks, transmitting data to either a cloud repository or internal servers,'” claim analysts at Deloitte.(4)
It’s not surprising to see the growth potential here. The total connected health market appears to be growing at an estimated 27.6% CAGR with the potential to reach roughly $188 Billion by 2024.(1)
Another report from AllTheResearch also claims that the global IoMT market could reach approximately $254,233.6 million by 2026.(5)