What is the “Internet of Medical Things?”
In our blog post about IoT-based patient monitoring devices, we described the IoT as a network of connected “smart” devices that are able to communicate information to each other.
Taking this definition a step further, the American Society of Engineers defines the “Internet of Medical Things” as:
[A]n amalgamation of medical devices and applications that can connect to health care information technology systems using networking technologies.
In other words, the IoMT is made up of medical devices, healthcare software, and information technology (“IT”) systems that are connected and networked together.
A heartrate monitor that transmits data to a hospital’s cloud where it can be reviewed by a physician provides an example of a device and IT system within the IoMT.
How big is the Internet of Medical Things?
The IoMT is one of the primary components of the entire IoT.
With the rise of the wearable and remote patient monitoring markets, the number of devices within the IoMT is estimated to exceed 20 billion in the near future.
By 2022, Deloitte predicts that nearly 68% of devices produced by medical device manufacturers will fall under the “connected” category, driving the value of the IoMT market past $158 billion.
As the the IoMT market grows, the medical device ecosystem will too—bringing software, hardware, and cybersecurity companies into the fold to tackle the challenges of a digital world.