To learn more and subscribe, please click here.The global healthcare sector will invest nearly $410 billion in IoT devices, software, and services in 2022, up from $58.9 billion in 2014, according to a new report from research and consulting firm Grand View Research.
IoT technologies can help gather more data about patients health to improve patient monitoring and analyze health data to find new treatments for diseases.Right now, IoT devices for healthcare are dominated by wearables, which make up 60% of the connected medial device market, according to the report.
That means these companies are taking the lion s share of the money that the healthcare sector is investing in Iot technologies overall.The health sector is the most promising area for wearables adoption.
Several emerging consumer and professional healthcare trends, which dovetail with advances in health technology over the past five years, are driving interest in wearables.
And where wearables are most commonly used for fitness-tracking purposes at the moment, they show great potential for widespread adoption in the healthcare sector.Will McKitterick, senior research analyst at BI Intelligence, Business Insider's premium research service, has compiled a detailed report entitled The Wearables in the Healthcare Sector Report that examines the use cases for wearables in health, ranging from consumers collecting fitness data to healthcare providers and insurers using wearables to improve health outcomes.The report also explores barriers to widespread adoption of wearables in healthcare and how tech giants, including Apple, Google, and Samsung, are developing devices and platforms that will help bridge the gap between fitness tracking and actual medical care.Here are some key points from the report:While adoption levels are growing, the wearables market is still in the early phases of expansion.
Meanwhile, businesses in a variety of industries have been quick to sense the opportunities for harnessing health data from employees, consumer, and patients to help drive efficiencies and enhance services related to healthcare.Barriers remain blocking the widespread adoption of wearables in the healthcare sector.