A recent study by Juniper Research projects that the Internet of Medical Things (IoMT) in smart hospitals will cross the seven million device threshold by 2026.
Growing demands for medical deficiency care
The developments in the medical sector that have been apparent for years have accelerated further in recent times, as can be expected. Growing and aging populations with increasing demands for longer-lasting health care are encountering inadequately equipped facilities and equipment worldwide. The American and Chinese markets, in particular, are the driving forces behind this development.
Crises expose vulnerabilities
And it is not only since the current pandemic that it has become apparent to more people that this critical infrastructure is not in very good shape. More and more people in need are encountering doctors and nurses who have been overworked for some time and whose numbers are gradually dwindling. The provision of diagnostic and therapeutic equipment also often leaves much to be desired in many places. Inadequate wages for the hard work and inhumane working hours are just some of the reasons given for the increasing number of staff being laid off.
Remote monitoring as a solution?
This is one of the reasons why a market has been developing for years in the shadows of this mixed situation, which has set out to fill the gaps in the care system with technological offerings. Initially, telemedicine services were aimed primarily at the elderly and the sick who were unable to attend consultations themselves. They were followed by people living alone or in non-urban environments, or by people with heavy workloads. The pandemic, with its many fears and government regulations, also increasingly drove previous non-users to these services. Recognizing the cost-saving and rapid competent help opportunities associated with networked monitoring and diagnostic applications in many areas, more and more segments of the medical sector are now adopting these IoMT solutions. This also and especially applies to already highly digitized facilities, such as the so-called smart hospitals.
Doubling of the global IoMT market
Analysts at Juniper Research’s market research firm predict that the use of IoMT endpoints will more than double globally by 2026. Last year, people used about 3.2 IoT-enabled applications in the medical field. In five years, observers say the figure will be 7.4 million. That would roughly equate to 231 percent growth. Moreover, it would mean that around 3850 IoMT applications would be used per smart hospital. A promising and massively growing market.