The Importance of IoMT in Healthcare 2020
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.
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.
Bukalapak raises $1.5bn in record Singapore IPO, say sources
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.
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