Have you ever imagined a world where your health is seamlessly intertwined with cutting-edge technology, working tirelessly behind the scenes to monitor, diagnose, and even treat ailments? This vision is swiftly becoming a reality with the advent of the Internet of Medical Things (IoMT), a transformative force that is reshaping the landscape of the healthcare industry.
In this blog, we’ll delve into the profound impact IoMT is having on patient care, medical practices, and the overall healthcare ecosystem.
Let’s dig in!
What is the Internet of Medical Things (IoMT)?
IoMT, or the Internet of Medical Things, also referred to as IoT in healthcare, is a network of hardware platforms, software applications, and medical devices that are all connected to the Internet. IoMT enables safe internet communication between wireless and remote devices, enabling quick and extensive analysis of medical data.
Wearables and the systems used in hospitals and clinics are examples of IoMT-based connected devices. These devices are either Bluetooth-connected or wireless, allowing them to quickly share health data while maintaining the highest level of security. They also record and store this information. According to Extrapolate, the global market for the Internet of Medical Things (IoMT) is anticipated to be worth USD 46.90 billion in 2021 and USD 172.40 billion by 2030, with a compound annual growth rate (CAGR) of 15.90% from 2022 to 2030.
How has IoMT Impacted the Healthcare Industry?
IoMT is deployed in-home, on-body, in-community, and at-hospital and has an immense impact on the medical world. Here’s how IoMT reshaping the healthcare sector:
● In-home
With in-home IoMT, patients can send medical data from their homes to a hospital or their general practitioner. It helps in identifying problems early on, which can decrease hospital readmissions. Personal emergency response systems, for instance, use equipment in the house to notify caretakers or emergency personnel when a person needs help. According to a survey done in the United Kingdom, 59 percent of participants said they would feel uneasy using an app that uses AI to make a diagnosis in 2021. However, 57% of respondents said they would feel at ease if their doctor employed AI to help with a diagnosis or treatment.
● On-body
Consumer wearables and wearables with a medical or clinical grade are two subgroups of this industry. The market for wearable technology peaked at $40.65 billion in 2020, and it is anticipated to expand at a rate of 13.8% CAGR from 2021 to 2028. Personal fitness gadgets, including bands, wristbands, activity trackers, smart glasses, and sports watches, make up consumer health wearables. These wearables can be used to track a number of health-related metrics, including blood pressure, glucose levels, and heart rate.
● In-community
Community Internet of Medical Things refers to the use of IoMT devices in a larger city or region. Mobility services, for instance, use equipment to track patients while they are traveling in a car.
As telemedicine technology can be used to connect patients with healthcare practitioners from a distance, IoMT can also be utilized to improve access to healthcare in isolated or underserved locations. IoMT can also be utilized to enhance communication between neighborhood healthcare professionals, leading to more effective and efficient healthcare delivery.
● In-hospital
In-hospital IoMT is all about patient flow management, asset management, inventory management, and environmental and energy monitoring. IoMT devices can be used to remotely monitor patients’ vital signs, including heart rate and blood pressure, which can help spot potential health issues early on, enabling quicker interventions and possibly improved patient outcomes.
Additionally, IoMT can be utilized to enhance medication management by automatically monitoring medicine administration and lowering the possibility of mistakes. IoMT can also be utilized to increase the overall effectiveness of hospital operations, for example, by facilitating supply chain management and asset tracking.
Challenges for the Internet of Medical Things
The primary issue with IoMT devices is their interconnectivity. The interconnectivity of IoMT devices makes them vulnerable to cyberattacks like any other networked computing system. The impact of these medical devices’ connectivity on clinical treatment and patient safety is a key area of concern.
The difficulties in obtaining a license to sell the product, integrating it into the medical setting, and looking for new business prospects are also included in the list of hurdles for the Internet of medical things. In the real world, compliance rules and license permissions apply to the majority of equipment designed for data collection, transmission, or analysis. Furthermore, these procedures could take a long time.
IoMT integration is beneficial when the collected data can be further filtered and applied to enhance patient outcomes in terms of health. The IoMT system is typically not interoperable, making it difficult to use when necessary. It may help to keep it safe, but it makes it more difficult to incorporate modern technology and gadgets into these systems. As a result, it leads to expensive transformation or the need to establish new networks from the start, each of which is expensive.
Even with cybersecurity rules, the majority of healthcare businesses have been the target of cyberattacks. Apart from data security, other challenges in the Internet of Medical Things include interoperability, device mobility, licensing and regulations, and the need to improve its adoption scale.
What’s in Store for IoMT’s Future?
The global Internet of Medical Things market is expected to experience substantial growth and generate substantial revenue by the year 2030. This growth is anticipated as a result of increased medical spending and the industry’s rapid adoption of cutting-edge technologies to enhance patient care and services.
Additionally, the deployment of 5G technology and the rise of the telecommunications industry in developing countries will further encourage the growth of the global Internet of Medical Things market.
When looking at the larger picture, IoMT can completely reshape the healthcare industry. It carries the potential to create a smart patient-centric healthcare system that incorporates IoMT devices to improve the operational efficiency of systems and processes. It can further aid in making informed decisions on how to offer the best care to patients, reduce costs, save time, and increase the efficiency of health record storage.
Final Thoughts
The Internet of Medical Things (IoMT) has the ability to completely change how healthcare is provided and improve patient care. Real-time patient health monitoring with IoMT devices enables earlier identification of health concerns and a faster response. IoMT can also be utilized to improve hospital operations and drug management, which has the potential to lower costs and raise overall patient care quality. Future IoMT applications are anticipated to be more innovative and useful as a result of increased funding and development in the field.