mHealth data, extracted from wearable devices and patient monitoring tools, will play a critical role in powering artificial intelligence and analytics technology in the future, according to a recent analysis from Frost & Sullivan.
The mHealth industry is expected to grow rapidly in the coming years, with people using these tools to seek solutions for common health issues.
“As mHealth rapidly gains traction, wearables, telehealth, social media, and patient engagement are expected to find adoption among more than half of the population in developed economies by 2025,” said Sowmya Rajagopalan, Advanced Medical Technologies Global Director.
“The patient monitoring market is expected to be worth more than $350 billion by 2025, as the focus is likely to move beyond device sales to solutions.”
In order to extract actionable insights from this data, the healthcare industry is also turning to big data analytics and other artificial intelligence solutions. Technologies like predictive analytics raked in $566.3 million in investments in 2018, Frost & Sullivan stated.
“Demographics and US politics are shifting in ways that are transforming healthcare. Yet, technology, as is in other industry verticals, is by far the biggest disruptor in healthcare,” the analysis said.
“Progress in healthcare digital innovations continue to erase restraints while simultaneously creating novel growth opportunities that impact patients and providers alike.”
Frost & Sullivan analyzed current investment trends in patient monitoring applications, as well as the future of these tools across the care continuum.
Researchers project that patient monitoring developers will incorporate disruptive technologies such as brain-computer interface (BCI). BCI was formerly used to treat and monitor users with mobility or speech disabilities, but will now monitor and measure health metrics for healthy people. BCI will use this information to analyze a person’s psychological, cognitive state.
The industry will also see a surge in wearables and biosensors, largely due to the rise of chronic disease and an industry shift from treatment to prevention. Continuous glucose monitors, pulse oximeters, and electrocardiogram monitors are some of the main tools that will dominate in the next few years.
Smart prosthetics and smart implants, which help to measure key parameters to support monitoring and early intervention, will also likely be critical tools in the coming years. Prosthetics and implants are crucial for patient management post-surgery or rehabilitation, and help patients avoid readmissions or complexities.
Additionally, Frost & Sullivan named nano-robotics and digital medicine as crucial innovations. Digital pills and nanorobots are designed to monitor medicine intake and address medication non-adherence.
The emerging field of advanced materials and smart fabrics will also play a large role in advancing patient health. These tools focus on wound management, cardiac monitoring, and mental illness.
Going forward, mHealth data will be a critical component of artificial intelligence tools and of the industry as a whole.
“In the future, patient monitoring data will be combined with concurrent streams from numerous other sensors, as almost every life function will be monitored and its data captured and stored,” Rajagopalan concluded.
“The data explosion can be harnessed and employed through technologies such as artificial intelligence, machine learning, etc., to deliver targeted, outcome-based therapies.”
Originally published in Health IT Analytics by Jessica Kent on April 08, 2019