Medtronic plc announced that its co-founder, Earl E. Bakken, passed away on October 21 at his home on Kiholo Bay on the Big Island of Hawaii. He was 94 years old. Before retiring as chairman in 1989, Bakken led Medtronic for 40 years, guiding the company’s growth.
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The IoT medical devices market is projected to surge from its current $20.59 billion valuation to $63.43 billion by 2023, increasing at a compound annual growth rate of 25.2%. Growth in the IoT medical devices market is mainly driven by factors such as new government initiatives for promoting digital health, the growing need for cost-containment in healthcare delivery, and the rising focus on active patient engagement and patient-centric care delivery.
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The report covers 26 electronic sensor application areas, a survey of 95 commercialization case studies, historic market data, and market forecasts through 2028 for this emerging product area, which is projected to exceed $10 billion worldwide by 2023.
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The researchers noted a significant increase in the number of hours patients were continuously monitored after implementation of the integrated system.
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The partnership pioneers the enterprise monitoring as a service (EMaaS) business model, which allows the health system to deploy patient-monitoring systems for a per-patient fee.
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