Published By : 15 Jan 2016 | Published By : QYRESEARCH
Since the past few years, the healthcare industry has been evolving rapidly with the introduction of new treatment modalities and the latest technologies. The industry has become more vigilant to the systems deployed to ensure better standard of patient care. With the introduction of the latest technologies, the healthcare industry is poised to expand exponentially in the forthcoming years. Machine-to-Machine (M2M) communication is one of the latest technologies to have forayed in the healthcare industry. The technology in healthcare setting comprises both wired and wireless medical equipment and systems to communicate via Wi-Fi, Bluetooth, LAN, RFID, wired lines and other related technologies.
Globally, the geriatric population is continuously rising, which has led to the increasing incidence of chronic illnesses. Such medical situations demand first-responder connectivity, hence M2M has emerged as a potent medium for assisted living and a time saver for both healthcare providers and patients around the world. As the demand for wearable devices rise, with growing health consciousness, the market for M2M communication is likely to expand in response.
The integration of M2M applications in wearable devices allow patients or the health conscious generation to monitor their health by keeping track of their daily activities such as sleep, stress count, and calorie intake. The M2M enabled medical devices also have enabled the healthcare industry to reduce the risk involved and costs of providing real-time healthcare facilities to patients. M2M technology has proven to be highly beneficial to patients and their families who until suffered due to inadequate or inefficient communication facilities. The advent of the technology in the healthcare industry has also helped in eliminating the need to physical interaction, particularly for regular health check-ups.
Despite witnessing impressive growth prospects, the M2M market in the healthcare industry faces challenge time-consuming approval processes and data privacy laws. The market also has to focus on mitigating the challenge of low penetration in developing regions.
However, the recent surveys project the healthcare sector to soon enter into the era of Bring Your Own Device (BYOD). With the growing awareness about the availability of such devices in the market, smartphone application and wearable medical devices will soon become a norm for both caregiver and patient.