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The Internet of Things is a growing network of things with sensors, software, and connectivity. Remote monitoring of patients is one of the demands which will propel the adoption of IoT healthcare market shortly. The employment of IoT based solutions is expected to fetch in a high degree of automation, cut operating costs and improve the decision-making process. According to Global Market Insights predicts the global IoT healthcare market will grow to exceed $10 billion by 2024.
Connected devices using the IOT are transforming the healthcare delivery by establishing more connectivity, remote monitoring, and information gathering. Rising elder populations in Japan and numerous other European countries like Italy and Germany, tied with the growing number of chronic diseases, will compel the IoT healthcare market growth over the estimated timeline. Interoperable systems facilitate share and maintenance of data automatically, reducing the prospect of re-entering data every time. But the lack of Interoperability stands as one of the obstacle hindering the entire healthcare market acceleration.
One of the issues that are posing as a significant challenge to the IOT industry is the integration of devices made by different manufacturers and their failure to operate on other operating systems. High-cost infrastructure development, data privacy, and security are also some of other concerns for the growth of this industry.
As technology is developing, lots of smart medical sensors have come into existence that enhances the potential of healthcare market devices to collect more data associated with patient's health. This makes the patient monitoring process easy and comes up with appropriate treatments for different types of diseases. In future, the digital and physical worlds will become more integrated, creating a connected world.