In the rapidly evolving landscape of healthcare technology, MedTech companies will stand out for groundbreaking work with Internet of Things (IoT) solutions.
The Internet of Things (IoT) refers to a vast network of interconnected devices that communicate and exchange data with each other and the cloud. The primary function of IoT is to facilitate the seamless transfer of data without requiring direct human interaction.
Further, the Internet of Medical Things (IoMT) is a network of interconnected medical devices, software applications, and healthcare systems that communicate and exchange data over the internet. It’s a subset of the broader IoT technology, focused specifically on healthcare and medical applications. According to a report by Fortune Business Insights, the Global IoMT market is projected to reach $814 billion by 2032 at a CAGR of 38.5% indicating rapid growth and its significant impact on the healthcare industry.
IoMT typically includes: Medical devices equipped with internet connectivity, wearable health devices, remote patient monitoring systems, healthcare software applications, and cloud platforms for data storage and analysis. These components work together to enable machine-to-machine communication, data collection, and analysis in healthcare settings.
Leading MedTech companies are pioneering IoT Innovation, embracing these technologies to enhance their product offerings and healthcare solutions:
Zimmer Biomet:
Provides a diverse array of IoT-enabled devices, such as Smart implants for joint replacements, remote patient monitoring systems for post-operative care, and data analytics platforms for improving surgical outcomes.
Johnson & Johnson MedTech:
J&J MedTech has developed Digital Surgery Solutions with the focus on improving patient outcomes through IoT, Cloud, and AI, accelerating digital innovation across J&J’s surgical technologies.
Smith & Nephew:
Uses IoT to enhance surgical precision and efficiency. They also develop remote monitoring systems for wound management.
These are just some examples of how leading MedTech companies are pioneering IoT innovation. Here at mymediset, we also believe that the future of healthcare lies in the seamless integration of IoT technologies. Our most recent innovative product mymediset LiveSync exemplifies the power of IoT in healthcare. By leveraging advanced smart IoT technology like RFID, we’re giving real-time visibility into inventory management from anywhere in the world, providing users with actionable information on inventory levels, consumption, expiration and replenishment. LiveSync eliminates the need for manual inventory cycle counts and data entry, and thus reduces human error. This level of accuracy and transparency is crucial for optimizing supply chains and ensuring that life-saving healthcare equipment are always available when and where they’re needed most.
The IoMT is more than just a technological advancement – it’s a paradigm shift in how we approach healthcare delivery. Learn more about how mymediset is converging technology and healthcare.
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