The Internet of Medical Things (IoMT) is when IoT meets medical sciences and enables the real-time sharing of data and solutions. IoMT connects devices, databases, and health providers on a unified platform, enabling rapid healthcare delivery and patient care. The market for IoMT is estimated to reach over $158 billion by 2022.
3D printing has been common for some time now but with 3D medical printing healthcare providers can now create organs for transplants, speed up surgeries, affordably manufacture complex surgical tools, and make prosthetic limbs more easily accessible. The global 3D printing medical device market is projected to grow at a CAGR of 17.7% between 2017 and 2025.
The convergence of AI, machine learning, deep learning and natural language processing technology is enabling more effective healthcare solution. Cognitive technologies are adept at analysing both structured and unstructured data with greater speed, accuracy and efficiency. The AI health market is expected to reach $6.6 billion by 2021, with a CAGR of 40%.
VR has proven itself effective across industries and in is becoming popular in the medical field as a solution for training, robotic surgery, patient therapy, and helping enhance care. With VR, it is possible to view the body in detail in 360degree CGI reconstruction and create scenarios that simulate surgical environments. Virtual reality in healthcare is expected to be worth more than $3.8 billion by 2020.
Activity trackers, sensors, and monitors have become more minituarized and can now be used both internally and externally. These devices allow consumers and clinicians to easily track and monitor health, preventing lifestyle disorders and helping to detect conditions at the early stages. Analysts estimate that the biosensor and tracker market will generate revenues in excess of $48.2 billion by 2023.