IoT Healthcare Market: Growing Health Awareness Among The Older Population To Spur Market Growth

The Internet of Things finds myriad applications across the healthcare sector ranging from remote & real-time monitoring of the patient health to the integration of the medical devices. For instance, real-time monitoring through IoT can assist physicians during medical emergencies such as asthma attacks, cardiac arrests, and heart failures. Rampant use of smart technologies witnesses across healthcare sector will boost the growth map of IoT healthcare industry.

IoT healthcare not only takes care of patient health, but also helps healthcare service providers such as physicians towards effectively service delivery. Today, healthcare services have become more expensive and basic healthcare has become unaffordable for the large section of the global population.

Furthermore, the advent of IoT has created a ray of hope for the larger population to receive healthcare services at affordable costs. For instance, medical diagnosis occupies a bigger part of hospital expenses. The new paradigm in the form of IoT can help medical checks routine shift from hospitals to home of the patients, thereby reducing the medical costs for the patients.

The new technology in the form of IoT healthcare succour the medical units to operate more proficiently and helps patients receive a better treatment. Researchers have estimated that over 80% of healthcare firms       across the globe will adopt IoT technology by 2019.

IoT has become a buzzword across many industries and finds massive applications across the healthcare sector. With escalating need of remote health checkup for geriatric population & rising health awareness, IoT healthcare market is likely to register a lucrative growth over the coming years. Increasing popularity of healthcare wearables will further propel the business scope.

A study has found that over 55% of healthcare firms have introduced IoT facility, while more than 70% are using the technology for maintenance & monitoring. However, it has also been found that over 85% of healthcare firms using the new technology have suffered huge losses as a result of IoT associated security violations.

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