Jul 20, 2020

The Importance of IoMT in Healthcare 2020

Emily Cook
2 min
IoMT integration
We take a look at how IoMT is impacting Healthcare in 2020 as Medical Technologies increase in integration...

The IoMT (Internet of Medical Things) is the amalgamation of data from medical devices and medical software applications that connects to healthcare IT systems wirelessly. The intention is to combine people, data and processes through connected medical devices and mobile applications to help improve patient outcomes. 

The role of IoMT

The potential of IoMT allows for more accurate diagnoses, less mistakes and lower costs of care through the assistance of technology, allowing patients to send health information data to doctors. This is especially important in current events due to the wireless connectivity, there is no need for in-person medical visits which prevents the spread of COVID-19. 

Some of these IoMT devices to monitor patients include: fitness trackers such as wristbands or smart watches, remote patient monitoring for chronic disease, smart pills and virtual consultations. All of these devices require patient engagement and trust in tech systems with personal data, this could be one of the few disadvantages of IoMT. 

 

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However, as more people begin to integrate smart wearable devices, it is no wonder that according to AllTheResearch , the IoMT market is expected to reach 254.2 billion USD by 2026. This is a massive increase from 44.5 billion USD predicted in 2018. The increased adoption of sensor technology and smart devices comes from the change in consumer lifestyle as trends like health and fitness are on the rise.

It can also be assumed that the global pandemic of COVID-19 has only further accelerated the need for IoMT and played a huge role in the growth of technology. As medical industry researchers are in search of the most efficient screening process and quick monitoring of patient symptoms, IoMT plays a huge role in tackling these challenges. Technologies such as IoT in 5G, cloud computing and block-chain powered alongside artificial intelligence will make for a hugely complex and efficient health-tech ecosystem. 

Challenges of integrating IoMT

IoT, as a whole, deals with huge amounts of data and when it comes to IoMT, this data can be extremely sensitive. This can include patients’ condition information, location and treatment details. This data requires strong security and protection against potential cyberattacks, which have lately increased.

Another challenge is the high cost for patients, such as fitness smart devices and remote patient monitoring systems, as well as the integration of medical equipment into the current healthcare ecosystem. However, this does not apply to the easily accessible IoMT applications on smartphones. 

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Jul 21, 2021

Bukalapak raises $1.5bn in record Singapore IPO, say sources

Bukalapak
Ecommerce
Indonesia
singapore
2 min
Bukalapak
Reuters is reporting that the Indonesian ecommerce giant Bukalapak has raised $1.5 billion in its IPO, making it Singapore’s largest issue

Bukalapak, currently the fourth largest Indonesian ecommerce company, is said to have raised $1.5 billion in the first IPO by an Indonesian tech unicorn.

Three unidentified, but likely reliable, sources told Reuters the order books for Bukalapak’s IPO were covered by multiples, with one source claiming the issue attracted more than $6 billion in demand despite being listed at the top of its indicated price range.

Bukalapak's 50x growth

Bukalapak was looking to raise just $300 million just a few months ago. The figure grew to $800 million before rising to $1.5 billion as investors jockeyed for a piece of the company.

Covid-19 has had a positive impact on many ecommerce operators, and Bukalapak also has strong investment lines via Singapore sovereign investor GIC and Microsoft, among others. The company focuses on micro, small and medium-sized enterprises.

Indonesia is Southeast Asia’s biggest economy.

Indonesia’s four biggest ecommerce companies

Tokopedia
Tokopedia is an Indonesian technology company specializing in e-commerce. It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison.

Shopee
Shopee was first launched in Singapore in 2015, and later expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam, the Philippines, Brazil, Mexico, Chile, and Colombia.

Lazada
Lazada is a Singaporean multinational technology company which focuses mainly on e-commerce. Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016.

Bukalapak
Bukalapak is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to enable small and medium enterprises go online and has expanded to support smaller traditional family owned businesses.

Source: Wikipedia

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