The market for the global Internet of Things (IoT) in healthcare is expected to exceed $320 billion by 2025, according to a new report published by Transparency Market Research.
The analysts note in the report that internet-connected devices have been introduced to monitor and diagnose patients in various ways. Tracking health information is vital for patients whether the data comes from electrocardiograms, fetal monitors, blood glucose levels, or temperature monitors. Most of these measures require follow-up with healthcare professionals, creating an opportunity for smarter electronic devices to deliver more valuable data by reducing the need for direct physician-patient interaction.
Most hospitals have started installing so-called “smart beds” as well, enabling them to detect when the patient is attempting to get up and when it is occupied, the researchers also point out. Smart beds can also self-adjust to ensure that the appropriate support and pressure is applied to the patient without manual intervention.
Ultimately, the market analysts anticipate the IoT in healthcare market expanding at a CAGR of 20.6%, from 2017 to 2025. North America, they add, held the highest market share in the market for IoT in healthcare in 2016.