According to the Centers for Disease Control, hospital-acquired infections cause approximately 100,000 deaths in the United States, each year. Hence, improving hand hygiene is a significant focus for the World Health Organization and the Centers for Disease Control. Sensors in soap and hand sanitizer dispensers that communicate with RFID tags in staff identification badges can now determine if and when the staff members sanitized their hands, which is a key trend in the market studied.
- The penetration of internet and wireless communication technology is driving the market studied. In a connected hospital, caregivers use wireless medical equipment to provide the best quality of care to patients, rather than being preoccupied by time-consuming administrative tasks. Doctors and nurses can easily access up-to-date patient information, enabling treatment decisions supported by real-time medical information, thus, resulting in improved outcomes for patients.
- Wearable devices for continuous monitoring are driving the market. Owing to the proliferation of smartphones and the acceptance of wearable devices, medical device and diagnostic centers are experimenting with body-worn sensors that can monitor vital signs and transmit them in real time to an online platform that can be remotely accessed.
- However, issues pertaining to cybersecurity and privacy are restraining the market growth, as vast amounts of healthcare data are generated during the course of treatment in medical centers, such as hospitals and clinics, and the theft of such data can damage the privacy of patients.
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Key Market Trends
IoT in Medical Sector to Increase its Share
The evolution of healthcare IT has been augmented by the intervention of Internet of Things (IoT) in the industry, which called for a connected hospital environment. Wireless network solutions are helping the healthcare industry by allowing practitioners to access files remotely to direct diagnosis, in case of unavailability.
At the moment, biosensors are among the most important elements of healthcare digital transformation. They can help users by collecting data about all their physical activities, sleep, and overall health in hospitals. Some of these devices record indicators with high sensitivity and specificity, making them very useful for health management, especially for treating elderly patients with several chronic diseases at once.
Blockchain initiatives are being widely implemented in the healthcare sector. For instance, the Estonian eHealth Foundation and Guardtime Company entered into a partnership for integrating a blockchain-based system to secure millions of medical records.
As the heart disease rate is increasing at a rapid pace, the IoT system utilizes algorithms for continuous ECG monitoring in patient at the hospital. In electrocardiogram (ECG) monitoring, the system keeps track of the heart rate and basic rhythm, by recording electrical activities of the heart. The ECG monitor consists of a wireless transmitter and a receiver. An automated application can identify an abnormal heart activity and the data is transferred in real time to mobile phones and the doctor’s clinic via the network.
Europe to Hold a Significant Share
Europe is a big market for wireless healthcare systems because of the increasing aging problems in this region. The proportion of Europeans aged 65 years and older is estimated to grow from 16% in 2000 to 24% by 2030. This is expected to put an enormous pressure on the present healthcare system. Hence, technologies, like wireless healthcare systems, may help ease the system of providing treatment to the growing elderly population.
Healthcare in Europe is increasingly becoming digitized and there is a growing need to develop and deploy sophisticated information systems. They are already being deployed for non-intrusive patient monitoring and for keeping track of the vital metrics. This information can be relayed back to caregivers and doctors, in order to increase the efficiency of the medical treatment.
For instance, the UK government has been welcoming the technology revolution in the country and has been willing to allow the implementation of automation solutions. The pharmaceutical industry has also entered the technology domain, with 63% of the major companies investing in developing mobile applications for automatically resetting the prescription deadlines and reminding the patients regarding the refilling of prescriptions.
Competitive Landscape
The wireless healthcare market is fragmented, as the players are striving to increase their market shares through strategies, such as improvements in the existing solutions and software platforms, development of new platforms, and strategic alliances with other market players. Therefore, several players account for significant individual shares in the market. Key players include AT&T Inc., Cisco Systems Inc., and Motorola Solutions Inc., among others
- June 2019 - Aerohive Networks, a leader in cloud-managed networking, was announced as the second-largest vendor in the enterprise-class cloud-managed wireless LAN (WLAN) market in the “Cloud Managed Wireless LAN Services White Paper". There are many advantages of using Aerohive’s Cloud-managed WLAN services, and over time, small to large enterprises may take complete advantage of these services to further simplify their business models and gain operational efficiencies that come from artificial intelligence (AI) and machine learning (ML) in the healthcare sector.
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