Evolution of IOT in Healthcare industry

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  • Apr 05, 2022
  • Posted By: admin

The use of IoT has grown exponentially in the field of Medicine providing better services to patients. This has transformed the way we analyze Medical Data, Patient information, and Medical device information. 

Due to this evolution of IoT in Healthcare, the market is expected to cross $190 Billion by 2028

IoT in Healthcare: Market reports  

Future of IoT in Healthcare industry 

  • Telemedicine will have a market share of 24.7% among the IoT applications. 
  • Software and systems will be a dominant market segment for IoT, with a share of $88.66 billion.
  • Analysts state that the adoption of IoT technologies can help hospitals save almost $300 billion. 
  • This along with remote supervision will create a 50% reduction in patient readmissions. 
  • The implementation of AI in healthcare will grow up to $45.2 billion due to IoT. 
  • 73% of IoT based applications will be prevalent in remote patient monitoring. 
  • It’s predicted that 50% of IoT apps will be used in the remote operation and 47% in location-based facilities. 
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Sam Wilson, Consultant