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Latest News : Internet of Things (IoT) Sensors in Healthcare Market Reach $1.9 Billion By 2022| AMETEK, Analog Devices, Analogic, Beckman Coulter
The global market for Internet of Things (IoT) sensors in healthcare totaled $1.1 billion in 2017 and is estimated to reach $1.9 billion by 2022, growing at a compound annual growth rate (CAGR) of 12.7% for the period of 2017-2022.
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Summary
The IoT is a broad technology category that includes connected devices working together as a system to deliver data within an application. Quite often, the data is associated with an analytics or decisionsupport engine that enables an actionable outcome. In this way, the IoT is a two-way system, in which the data that is collected from the system at various points is sent to an aggregation platform, which in turn enables applications that can transmit data back to the device endpoints.
In healthcare, there is ever-growing demand for data collection, aggregation, analysis, and two-way feedback to support increased provider productivity and improve quality of care. This capability can also result in cost savings from the substitution of a digital system for manual systems to collect and analyze healthcare data. IoT applications in healthcare can take the form of patient monitoring, diagnostic assessment and therapeutic medication delivery and often play a role in treatment.
However, none of this interaction is possible without a robust array of sensor technology placed at system end points or within a device to trigger data activity. Sensors can either continuously or periodically transmit a state based on a predetermined condition or activate a processor system receiving a signal. Sensors have long been a critical part of the healthcare landscape, but the extent of their value is significantly increasing as the reach of the IoT is extended. This is resulting in expanded ability to accumulate the data that sensors provide and expansion of centralized platforms, where aggregation and analysis take place.
In addition to ubiquitous connectivity, IoT sensors in healthcare can be deployed in a number of ways. While innovation in their deployment is still very much under way, the majority are deployed in one of three ways: implanted in patients, worn externally on the patient's body, or connected to a stationary device at the hospital or at home.
The adoption of IoT sensors in healthcare is also driven by regulatory requirements in many countries, where strengthening the digital interconnection between systems and establishing unified electronic healthcare records are key initiatives aimed at cost savings and improving the quality of care. While the regulatory environment advocates for the use of sensors as part of a system, a number of initiatives are underway to standardize their deployment.
A significant issue with sensors in healthcare environments is their potential conflict with radiofrequency signals from various healthcare devices if they are not deployed properly. Historically, many healthcare devices have not worked well with each other. There are a number of interoperability initiatives to solve this issue.
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On top of this is the profound challenge posed by security issues. In recent years, healthcare devices and their sensor-bearing devices have become vulnerable to a variety of attacks. Hackers have been able to find their way into implanted devices and general purpose computing systems. Now that so many devices and systems are connected, once they are compromised, this offers pathways to the entire healthcare network, which greatly increases risks.
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