According to a report by Acumen Research & Consulting, the rise of the Internet of Things (IoT) in the healthcare market, which comprises medical devices, systems and software, and services, has had a wide impact on the overall healthcare sector and been extremely beneficial in chronic disease management, remote clinical monitoring, assisted living, preventive care, and personal fitness monitoring.
The IoT in healthcare market includes a great number of wearable, implanted, and stationary medical devices used in research and diagnostic laboratories, clinical research organizations, clinics, hospitals and surgical centers, and defense and government institutions. IoT in the healthcare industry can be applied in several applications, including telemedicine, inpatient monitoring, and medication management. ZigBee, Bluetooth low energy (BLE), satellite, Wi-Fi, and near-field communication (NFC) are some of the major connectivity technologies involved in IOT in healthcare.
The market is primarily driven by growing demand for improved patient care services, real time disease management, efficient and effective treatment outcome.
Challenges like lack of competence in deploying IOT solutions, data security and privacy elevated costs coupled with IOT infrastructure development, concerns, lack of governance standards act, and limited technical expertise are projected to impede the market growth.
In addition, increasing awareness regarding the better affordability, demand for accessible communication technology, and resilient connectivity technology by the combination of local and near field technology such as Wi-Fi, NFC, and Bluetooth are amongst the few factors that are expected to drive the Internet of Things (IOT) in healthcare market over the forecast period.