The global wearable medical devices market reached $2 billion in 2012 and is estimated to hit $5.8 billion by 2019, according to a new report from Transparency Market Research. The fastest growth is expected in the Asia Pacific region, due to increased medical investments, improvements in health infrastructure, and greater awareness of sports and fitness in countries like India and China.
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The Internet of Things is the latest technology breakthrough to transform healthcare. But as with any new technology, several considerations must be factored into the technology mix in order to lead to improved hospital efficiency and better patient outcomes.
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Gunnar Trommer of BCG Digital Ventures told attendees at AAMI 2015 that the digital health spectrum is much broader than fitbits or other wearable devices. With $4 billion invested in the market last year alone, digital health, he predicted, will transform the healthcare landscape.
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A Verizon Enterprises report on the Internet of Things (IoT) predicts that the number of interconnected devices will grow rapidly from 1.2 billion in 2014 to 5.4 billion in 2020. Evidence suggests, however, that growth in the healthcare sector is slower than other industry sectors so far.
Read MoreThree leaders in the healthcare technology management field named the rise of wearables and the need for employees with backgrounds in IT among key trends.
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