According to ABI Research, the mHealth wearables market is expected to grow 400% in the next 5 years.
mHealth IoT includes wearables for use in and out of the hospital allowing doctors to remotely monitor the health of their patients. Devices include blood pressure monitors, continuous glucose monitors, pulse oximeters, and electrocardiogram monitors. Market growth is being driven by a number of factors including an increasing population with chronic health issues that require constant monitoring, a greater acceptance of wearables by patients and practitioners, and the need for cost-effective alternatives to expensive in-person visits with care teams.
Successfully harnessing and capitalizing on the ever expanding data landscape is of critical importance in the era of IoT. Big data insights create opportunities to improve patient management and treatment pathways, optimize the use of pharmaceuticals and treatment modalities, and increase profitability – all while delivering improved patient outcomes and experiences.
To maintain a competitive advantage, healthcare organizations will have to harness the power of IoT and adopt IoT-driven processes and systems. This innovative model of healthcare, which deeply relies on data analysis, is all set to change the way health services is being delivered. The patient-centric transformation is being powered by the need for innovation in healthcare.
IoT is here to stay and will continue to evolve fast, leading to positive and impactful changes for all stakeholders in the healthcare industry.
Read our thought paper – Improving Healthcare and Patient Outcomes Through Connected Devices
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We provide and support healthcare technology solutions that employ next-generation technologies such as Big Data, Social, Mobile, and Cloud to deliver cost-effective real-time platforms and products enabling healthcare organizations to improve healthcare significantly, to manage patients and disease efficiently with personalized care, reduce fraud and waste, accelerate drug development and achieve operational excellence.
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