The Internet of Things (IoT) has rapidly reshaped what the connected health industry looks like today. Telehealth can make care reliable and scalable. New technology advancements enable mission-critical communications that help support more accurate patient data, improved virtual access, reduced costs for both parties, and stronger patient engagement.
With the global IoT market expected to more than double from $72.5 billion in 2020 to $188.2 billion by 2025, it is important to understand how IoT-enabled solutions can simplify your approach to connected health innovations.
Decentralized clinical trials (DCTs) were designed to eliminate or reduce unnecessary on-site visits for patients to make it as easy as possible to get the care they desire. DCTs existed prior to COVID-19; however, with the shift towards increased virtual healthcare, greater movement to DCTs rapidly accelerated the necessary adoption to maintain patient safety. As of November 2022, there are approximately 433,579 (YTD) registered clinical trials globally, up from only 2,119 registrations in 2000.
Clinical trials can be either hybrid, a combination of on-site visits and connected health devices, or fully virtual, where there is no in-person interaction between the parties. This method of telehealth can be beneficial when attempting to enhance data accuracy and decrease costs.
Remote patient monitoring (RPM) is a form of telehealth that provides patients and medical professionals the tools to access healthcare virtually. The remote patient monitoring (RPM) market is steadily growing and expected to reach $175.2 billion by 2027, compared to $53.6 billion in 2022, according to MarketsandMarkets.
There are multiple kinds of RPM that help leverage data to strengthen communication between clinicians and their patients, such as cardiac rhythm monitoring, glucose monitoring, and medical-grade wearables. These systems have the ability to transmit data securely and precisely to a web-based management system. Medical-grade wearables can include two types of devices: consumer-grade and medical-grade, both used for different purposes.
Mobile Personal Emergency Response Systems (mPERS) are widely used wearable devices in the telehealth sector and serve to connect patients with emergency call centers. One large attraction to mPERS is the accessibility and mobility qualities. This market is trending upwards, with an expected positive compound annual growth rate of 9.6 percent from 2022 to 2027, according to GlobeNewswire. A large component of the substantial development in this market is due to the aging population – specifically the baby boomer generation.
For a closer look into a guide to mPERS, download our eBook, “IoT Enables Medical Alert Monitoring for PERS and mPERS” here.
To wrap up our IoT in Verticals webinar series, KORE is hosting “IoT in Healthcare: Connect to What Matters” on November 29 at 10 a.m. ET / 3 p.m. GMT. Register today to hear the latest insights from leading IoT experts!
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