Internet of Things becomes one of the most impactful trends in Healthcare and Pharma industry. According to the Big Data in Internet of Things (IoT): Key Trends, Opportunities and Market Forecasts 2015 – 2020 report by Mind Commerce Publishing, value of Internet of Things in Healthcare will reach $117 billion by 2020. With CAGR of 15.1%, Healthcare will be the fastest growing segment in the whole IoT market.
See also: IoT in Financial Services and Banking
Internet of Things: Definition
Internet of Things (IoT), sometimes called also Internet of Everything, is a concept of enabling Internet-based connection between computing devices embedded into everyday objects. Internet of Things is already technically feasible and applied in multiple scenarios. With wider adoption, Internet of Things brings revolutionary changes to existing processes in most, if not all industries..
Video: Healthcare – The Internet of Things and Big Data
Video: Internet of Everything | True Stories of the Connected: Rural Healthcare in Northern Canada
Internet of Things in Healthcare and Pharma
Internet of Things applications are impacting all three stages of health care: prevention, diagnosis and treatment.
Wearable sensors and quantified self software embedded in smart-watches are good example of using Internet of Things in Healthcare for disease prevention and healthy lifestyle promotion. Going forward, wearable or digestible connected sensors are part of diagnosis useful especially in remote areas and in chronic conditions.
As for the treatment itself, connected packages and medication dispensers such as CleverCap, MedMinder or Philips Lifeline are used to improve patients adherence to the treatment. A step forward from adding connectivity to packages is putting it directly on medication. Proteus Digital Health, a company backed by Novartis and Oracle has already received FDA market clearance in the United States and a CE mark in Europe for its wearable and Ingestible Sensor devices.
Video: Proteus Digital Health – Your Health, Powered By You
Internet of Things in Clinical Environment: MBANs
MBAN stands for Medical Body Area Network and is a concept of low power network of body sensors worn directly or in close proximity to the patient. MBAN is connecting to the hub via LAN of health care facility (ie. hospital). MBAN allows constant monitoring of patient’s health parameters while in the facility, even while moving. Outside of the facility, MBAN may also serve patient – for example by connecting blood sugar level sensor with insulin injection pump.
Video: Medical Body Area Networks (MBANS) should expand patient monitoring
Internet of Things and Big Data
With wider adoption of connected wearable sensors and MBANs the amount of available relevant real world evidence becomes so huge, that medical research may, at least partially, shift its paradigm from experimental to statistical approach. Instead of setting up costly trials and recruiting patients with specific conditions, investigators will be able to perform analysis of existing data gathered from already diagnosed and treated population.
Video: Data analytics: Changing the practice of medicine