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Are You Ready for a $ 158 Billion IoMT Market?

2020-03-26 16:47:41

During the outbreak of COVID-19, Internet of Things (IoT) such as intelligent diagnostic robots and remote consulting has helped a lot. According to the latest forecast by Business Insider, the Internet of Medical Things (IoMT) market will grow to $ 158 billion in 2022, a giant leap from the $ 41 billion in 2017. Analysts predict that more than 161 million IoT devices will be installed for smart health care by the end of 2020. This will accelerate the development of IoT modules.

 

 

The commercialization of 5G networks, increasingly extensive high-speed network connections, smaller and smaller sensors are accelerating the popularization of IoMT. IoMT has different scenarios, which require different IoT solutions. Such as remote consulting, telemedicine, telesurgery and ultrasonic diagnosis and treatment, need 5G networks with high speed, low latency and wide connectivity, which are supported by 5G modules. SIMCom 5G module SIM8200 and SIM8300 series with Qualcomm Snapdragon X55 5G modem platform support independent (SA) and dependent (NSA) network deployment, and can cover 3G/4G/5G bands of the three major domestic carriers and many countries and regions around the world. They are designed for a variety of applications that require high data throughput. During the outbreak, they have been used for high-definition remote video consultations to reduce the risk of cross-infection among doctors and to adequately address medical staff shortages.

 

 

 

 

Intelligent health care also involves wearable devices and a variety of specific solutions. For example, devices for monitoring diabetes, hypertension, heart complications and other health problems are growing rapidly. Wearable devices allow patients to keep abreast of their health status, while providing medical professionals with a larger data set to track and predict patients’ health status. Wearable devices have higher requirements on module sizes. They require modules with smaller sizes and lower power consumption. As a result, SIMCom developed the smallest NB-IOT module SIM7090G and LTE Cat 1. module A7670X. Users can choose different modules according to the transmission rate requirements in different scenarios.

 

 

In addition, there are thousands of medical apparatus and instruments in hospitals, which also need networking for proper management. By adding sensors to medical equipment, medical staff can quickly obtain information about the conditions of various devices, preventing downtime and improving predictive maintenance efficiency. IoT is also useful in the management and transportation of medical supplies, for drug tracking, marketing and anti-counterfeiting. The entire process of drug research, production, circulation and use can be monitored thoroughly. Such scenarios need medium rate or low rate connections for cost-effectiveness in data transmission. As a result, apart from NB-IOT modules like SIM7060G and SIM7070G, SIMCom also developed LTE Cat 1. modules like SIM7500 and SIM7600E to classify application scenarios and help customers save costs.

  

 

During the outbreak, to reduce the risk of infection caused by gathering, some hospital service windows were closed and people were isolated at home. This indirectly promoted the development of a series of medical apps. DXY.COM, Alihealth, Tuling Robot, Ping An Doctor, WeDoctor and so on worked with doctors and experts across China to provide online consulting, online diagnosis, health knowledge dissemination, psychological counseling and other medical services, providing users with real-time, fast, high-level medical services. This new approach will also encourage further reformation of the health sector.

 

SIMCom CEO Yang Tao said: “a crisis is always an opportunity for the determined. Every crisis is an opportunity to change the market landscape. Digitization is an inevitable trend in China. This sudden outbreak has made us sober. We need to improve ourselves, enhance technical research and development and product quality, focus on commanding heights in technology and knowledge patiently, to gradually build our leading position in the industry.”

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