The advancements in technology enable consumers to have mobile and wearable devices, which can also monitor and improve health. Smartwatches, pendants and other wearables monitor vital signs, sleeping patterns and activity habits. The information gained can now also wirelessly be transmitted to loved ones or health care providers. The array of medical devices available to patients enable individuals to become more aware of their physical condition from one moment to the next. The tech also enables physicians to monitor, diagnose and prescribe treatments remotely. The ability of devices to share information online is known as the Internet of Things or IoT.
Numerous industries now rely on IoT. The medical industry is the latest field of technology making use of the ability. The Internet of Things for Medical Devices allows information to travel quickly and accurately from one location to another. The data obtained is also easily accessed by patients or healthcare providers. Although hospitals and other medical facilities have long used software to document and monitor medical records, the information can now be electronically transferred to physicians locally or at great distances when needed. Physicians might also prescribe medications and treatments digitally.
Additional benefits that IoT-MD provide include a reduction of errors and the medical costs incurred by patients. In terms of marketability, IoT-MD has also proven to be a profitable venture. The market was reported as being worth $41 billion in 2017. However, in the next five years, the IoT health care is expected to grow tenfold.
Machine Design is one of the companies paving the way for IoT-MD. Their Medical Device Technology Exchange conference was created to bring industrial companies, developers and engineers together in an effort to share information and develop more devices. The 2018 MDTX held in April was so successful that the company plans on hosting a second event in October.
However, along with great minds coming together to develop new and improved technology, manufacturers must also find ways to protect individual rights and the confidentiality between physician and patient. Yet, IoT-MD advances healthcare technology and the way physicians and other members of the healthcare team monitor patients and provide treatment. Not only does the industry make health care more convenient all the way around, the technology will also make medical care more affordable for many.