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How sensors and devices are forever changing the face of healthcare.
August 22, 2018
By: Isa Liao, Regional Sales Manager, TE Connectivity
Imagine getting preventative care outside a hospital setting. It is increasingly taking place today. Startups, Fortune 500 technology companies, and medical providers are all reviewing new products and devices that could revolutionize medical care and streamline costs by reducing hospital readmission rates and allowing patients in remote areas to get the care they need. Remote patient monitoring is having its day, and it doesn’t seem this evolving trend will slow anytime soon. The technology could fundamentally improve patient outcomes and quality of care across the medical field as it can benefit all patient population locations—onsite (e.g., in hospitals and clinics), within the home, and remote regions (e.g., less populated areas and in developing countries). The Big Picture A Global Industry Analysts strategy report predicted that by 2018, more than five million wearable, mobile medical sensors would be purchased and used throughout the healthcare space. It further forecasted that by 2020, global remote monitoring systems will reach a staggering $46 billion in value, driven in part by the need to reduce healthcare spending. As technology continues to dramatically evolve, many believe the Internet of Things (IoT) could play a pivotal role in most industries, but especially in creating a more connected healthcare ecosystem. In healthcare, IoT may just redefine how apps, devices, and people interact and connect with one another to deliver healthcare solutions. The benefits? It could help reduce costs, improve outcomes and disease management, and enhance patient experiences. Following are five trends taking place in the patient monitoring field and the key market drivers design engineers need to consider. Clearly, there is overlap among them since IoT spans two important areas: the development of smart, connected products and devices, and the proliferation of big data. Trend #1: An Aging Population Vulnerable to Chronic Disease Is Driving the Market The world population is aging. People are living longer and enjoying good health, but many are also living longer with chronic disease, which puts a strain on healthcare systems and resources. The World Health Organization states the number of people aged 65 or older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050, with most of the increase in developing countries. According to one study, “The disease burden associated with a growing elderly population will require a large and diverse healthcare workforce that can effectively and efficiently diagnose and treat patients with complex medical conditions.” Another study published in the Journal of the American Medical Informatics Association (JAMIA) explains, “Remote home monitoring continues to boost patient engagement with their overall health and adherence to provider recommendations for managing their chronic medical conditions.” Trend #2: The Focus in the Healthcare Industry Is Shifting to Value-Based, Patient-Centric Care and Outcomes
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