One of the biggest transformational shifts in healthcare is the rise of the Internet of Medical Things (IOMT). This entails any ecosystem of connected medical technologies supporting targeted health and wellbeing services. Applications are often developed in coordination with multiple stakeholders specializing in specific aspects of solution development and deployment, and solutions may be tailored to one use case or bridge across various layers of the care continuum. Within that, wearables promise to play a very important role as ‘On Body’ technologies. They go where you go and intersect with various stages of the care continuum. Even within wearables, there is a wide range of technologies and applications. Today, wearables in healthcare have moved past the hype and are now playing a key role in ensuring clinical success, lower cost of care, and improved patient experiences and outcomes.
This Frost Prospective provides an overview on the IOMT ecosystem by application areas such as on body, in home, community, in clinic, and in hospital. It discusses in detail how industry convergence and technological innovations are transitioning wearables from simple consumer devices to actionable healthcare applications—specifically in managing targeted chronic diseases such as diabetes, heart failure, arrhythmia, pain, respiratory, and neurological conditions. The final section discusses key challenges and provides strategic recommendations for future growth opportunities, including emerging business models or intelligent platform-based solutions, and key success factors.
Key Questions this Frost Prospective will Answer:
- What does the current IOMT ecosystem look like in terms of the major healthcare application areas?
- What will be the role of wearables as ‘On Body’ technologies in the IOMT ecosystem?
- How will wearable technologies evolve to play a greater role in health and wellness?
- Which chronic disease state could benefit the most from the integration of wearables into disease management and care?
- What are the key challenges for future business model considerations?
- What are the types of emerging business models and ecosystem partnerships being formed?
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