With the Internet of Medical Things (IoMT) market estimated to be worth $158.1 billion in 2022, how can medtech companies can get IoMT right from a business perspective and how they can use the opportunity to deliver more value to health care?
Major advances in technology are driving innovation in medtech, leading to the development of an increasing number of connected medical devices that are able to generate, collect, analyse and transmit data. The data, along with the devices themselves, are creating the IoMT – a connected infrastructure of medical devices, software applications and health systems and services.
New research from Deloitte UK Centre for Health Solutions examines how the IoMT is transforming medtech’s role in health care. It outlines how medtech companies can get digital transformation right – whether through adapting their existing business models, inventing new ones or both. The industry’s future will depend on its ability to demonstrate to providers and payers how connected medical devices contribute to the new value-based paradigm.