The market for IoT in healthcare is growing, and is expected to be worth $952.3 billion by 2032 according to a new market report by Future Markets Insight.
Here are five other key takeaways from the report:
- A key concern is the amount of legacy systems being used at health systems, and their inability to cope with the data coming from IoT devices. It also poses risks for cybersecurity and privacy.
- Combining IoT with new advancements like 5G technology, artificial intelligence and big data has the potential to change healthcare.
- The improvement in diagnostics technology means that portable hardware diagnostic devices are predicted to account for maximum sales. The increase of patients with chronic diseases and a rise in geriatric populations will also drive the sale of such devices.
- Hospitals are expected to be the primary users of the devices.
- While IoT devices are seeing a growth expansion in the Asia Pacific region, the U.S. still leads the worldwide market.