Medical Design Briefs - December 2021 - 6

FROM
THE EDITOR
Digital Revolution Drives Growing
Connected Health Market
The connected healthcare market is
growing at a robust rate, according
to a report from Verified Market Re -
search. The 202-page report, " Con -
nected Health care Market, " predicts
the market will grow globally by 25.01
percent CAGR to reach $85,427.95 million
by 2028.
The growing geriatric population with
chronic disease, coupled with the digital
revolution and rising government expenditure
on the healthcare sector, are
expected to drive the market during the
forecasted period, the report says. The
increasing penetration of the Internet in
healthcare functions is noted as a major
driver.
Improvements in diagnostics, patient
experience, and disease management
with less error is also pushing market
growth. The pervasive adoption of wearable
technology for accurate capturing,
monitoring, and analyzing physiological
data for enhancing health and healthcare
outcome is a key driver.
The analysts also note that a growing
shift toward predictive healthcare is pushing
the demand for IoT-enabled wearable
devices for monitoring patient health
through home care. Various technology
and consumer electronics manufacturers
such as Apple Inc., Samsung, Omron
Corp., and others are introducing various
watches, bands, rings, and other wearables.to
promote monitoring of health status
in real time.
The rising popularity of telehealth,
which includes medical counseling,
physical and occupational therapy,
home health, and chronic disease monitoring
and management, will also play a
role in the market's strong growth in the
years to follow.
" The growth of the market is further
driven by the health crisis induced by the
COVID-19, " the analysts say. " It has shown
a sharp increase in remotely monitored
technologies such as telehealth, telemedicine,
etc. "
Benefits included increasing access to
healthcare, limiting the risk of infection
through no exposure to the medical
professionals, and preserving scarce PPE
supplies. The growing technological
landscape in the healthcare sector is
promoting the use of AI, machine learning,
and deep learning in the medical
field for understanding the accurate
needs of healthcare professionals. Key
developments include:
* Microsoft has acquired Nuance, a
speech-recognition firm that grasps the
specialized language of medicine - tech
that won't be easy for others to replicate.
* IBM Watson Health has announced the
latest release of IBM iConnect Access, its
diagnostic viewer and image exchange
platform, to allow healthcare providers
to aggregate, exchange, and access medical
imaging data across the enterprise
and extended care team.
The major players in the market are
GE Healthcare, Accenture Plc., SAP SE,
Boston Scientific, IBM, Oracle, Micro -
soft, Airstrip Technology, Medtronic,
and Allscripts.
Sherrie Trigg
Editor and Director of Medical Content
For a copy of the report, go to
https://bit.ly/digital-revolution-connected-health
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Medical Design Briefs, December 2021
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Medical Design Briefs - December 2021

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