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"Ideal IoMT implementation would be like an ecosystem of smart devices that digitize and transform care delivery for higher efficiencies of healthcare systems resulting in improved care delivery," said Transformational Health Industry Analyst Siddharth Shah. "However, we are a long way from achieving this objective with the industry facing several hurdles, beginning with cybersecurity, lack of interoperability, and accuracy of captured data."
Internet of Medical Things, Forecast to 2021, new research from Frost & Sullivan's Advanced Medical Technologies Growth Partnership Service program, provides an overview of the current IoMT market landscape, segment-specific challenges and opportunities, and strategy and important business model considerations for stakeholders and new entrants.
Disruptive innovations possible with the IoMT include:
- Medical-grade wearables and smart implants that communicate patient parameters;
- Virtual assistants at home to help patients and seniors with their self-care, mHealth applications, and smart diagnostic medical devices that support telehealth services;
- Smart cars that can track vitals of passengers during transit;
- Exigency support by drones for emergency response;
- Smart, digitized clinical devices like digital stethoscopes for clinicians in primary care;
- Hospital deployment of RFID, beacon or indoor GPS technologies for navigating within the premises;
- Smart hospital rooms that allow patients to communicate with care teams virtually, from their bedside;
- Temperature-controlled/cold-chain logistics with end-to-end visibility; and
- Kiosks at community centers to improve access to informational services, pharmaceutical products, and telemedicine services.
To view Frost & Sullivan's latest infographic on how Internet of Medical Things will drive automation in the industry, in the home and hospital settings, please click here.
The IoMT market, which stood at $22.5 billion in 2016, is expected to grow at an impressive compound annual growth rate of 26.2 percent to reach $72.02 billion by 2021. Healthcare majors like Philips and Medtronic, several startups, and even technology giants like Apple, IBM, Cisco and Qualcomm are developing capabilities in IoMT applications. Strong partnerships will be forged to leverage relevant expertise and provide truly useful IoMT products and services.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Internet of Medical Things, Forecast to 2021K1AB-54
Contact:Mariana FernandezCorporate Communications – North AmericaP: +54 11 4778 3540F: +54 11 4777 0071E: [email protected]
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/is-iomt-the-magic-bullet-to-reshape-coordinated-and-proactive-care-delivery-300480529.html
SOURCE Frost & Sullivan
