The rise in internet-connected medical devices, commonly referred to as the "internet of medical things," will spur growth in the home healthcare market, according to a report by the market research firm Frost & Sullivan.
IoMT devices, such as wearables and intelligent sensors, open up an opportunity to integrate regular remote patient monitoring into home care models. As these devices improve their sensitivity to identify physiological changes in patients and their ability to communicate with healthcare teams, providers may be able to leverage them to support various patient groups, such as those in need of chronic disease management.
Developments in artificial intelligence, in particular, will support IoMT devices in drawing insights from the massive amounts of patient data they gather. For example, AI algorithms may be able to predict medical diagnoses based on the data a wearable device or sensor collects.
"The main objective of IoMT is to eliminate unnecessary information within the medical system so that doctors can focus on diagnoses and treatment," Varun Babu, a research analyst at Frost & Sullivan, said in a news release. "Since it is an emerging technology, technology developers need to offer standardized testing protocols so that they can convince hospitals of their safety and efficacy and make the most of their massive potential."