Medical applications of IoT to hit $9bn by 2024

A new report suggests that the medical industry will see its exposure to IoT technology rise to $9 billion by the year 2024
Ehealth, 5G, IoT, IoMT, Medical

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The value of the Internet of Medical Things market in the Middle East and North Africa region is projected to increase by 450 per cent over the next 4 years, hitting $9 billion by 2024.

The report was compiled by Arab Health, who put the current value of the MENA market at $2 billion.

The global market is also expected to see steady growth, with net valuation increasing from $41.2 billion in 2017 to $158.1 billion by the end of 2024.

“The IoMT refers to connected infrastructure of medical devices, software applications and health systems services which have grown in the prominence of supporting clinical decisions, reducing incorrect diagnosis, and improving quality of services through the management of chronic diseases and monitoring of hospitalised patients”, said Ross Williams, Exhibition Director of Arab Health.

The emergence of 5G, along with the increasing penetration of LTE and LTE-M networks, is expected to be a key facilitator of uptake, as the medical sector becomes increasingly interconnected.

“A future where data is secure, aggregated and easily analysed will be a crucial enabler for the digital transformation of healthcare and the health and well-being of people on an individual, national, and global scale,” added Williams.

5G remote surgery and connected health care have been among the key business use cases driving investment in next generation connectivity, particularly here in the Middle East.

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