IoT can play a crucial role
IoT Healthcare market grows 30.8% per year
The global IoT healthcare market is growing at an unbelievable 30.8% per year, according to research firm MarketsandMarkets: from 41.22 billion USD in 2017 to 158.07 billion USD in 2022. Important IoT healthcare market growth pillars are the evolution of artificial intelligence technology, increased investments for the implementation of IoT care solutions and the strongly increasing penetration of connected devices.
According to European market figures from Mordor Intelligence, the number of IoT devices in healthcare will double from 8.5 million in 2015 to 17.3 million in 2020. By 2025, that number should increase further to 26.7 million IoT devices.
The Netherlands in the top 3 of Europe
Only Denmark and Switzerland are ahead of the Netherlands in terms of the number of IoT devices in use in Europe (note: this means all applications, not just the healthcare devices) and at world level, only the US and South Korea can submit a better report.
The strong growth of IoT in healthcare, the market segment that is also called 'smart health' or IoMT (Internet of Medical Things), is not merely the result of a technological evolution, it is also fed by the knowledge that its implementation can lead to more efficient cost management. Specifically, smart solutions can result in the more flexible handling of resources – such as staffing.
Prevention, monitoring and first aid
According to ResearchGate, evolution goes hand-in-hand with the ageing of the world population and the steady increase of chronic diseases. For the latter group of potential patients, smart solutions such as preventive care can provide solace. Analysts and specialists believe the released resources can then be used more efficiently in other, more 'urgent' branches of healthcare.
In other words, IoT can play a crucial role in all phases prior to hospitalisation. The categories in which IoT plays an important role are successively prevention, monitoring and first aid. In all these phases, the number of physical doctor visits can be significantly reduced and even made superfluous.
IoT is playing and will play an increasingly larger role in the hospital too and have an efficiency-enhancing effect. Doctors can monitor their patients with smart applications and connected devices around the clock and supervise and/or intervene in their care and medication from anywhere.
Productivity increase of 57%
According to Aruba Networks, IoT will lead to an increase in productivity of 57% in healthcare and an equally large cost reduction. According to their worldwide research among business leaders and IT specialists in this market, IoT is currently being utilised as follows: at 73% for monitoring and maintenance, at 50% for remote control and steering and at 47% for location-based services. 8 of the 10 IT specialists surveyed predict that the use of IoT will lead to a significant increase in innovation and new revenue models.