IoT Adoption Tracks with Increased Spending on Population Health

“Healthcare organizations investing in population health management are also exploring the role of the Internet of Things for reducing the burdens of chronic disease.

According to a new market report from Zion Market Research, the global market for smart medical products, such as smart pills and RFID-based technologies, will be pushing $67 billion by 2024 as healthcare providers and vendors search for new pathways to improve population health and reduce spending on chronic disease.

The smart medical products market forms a small but substantial subset of the larger Internet of Medical Things (IoMT) segment, which one 2016 report predicted would top $410 billion by 2022.

This represents a healthy 9.5 percent compound annual growth rate (CAGR) from a 2017 baseline of $35.6 billion.”