Health monitoring devices set to nearly treble by 2020 – Juniper Research
According to new figures from Juniper Research released last week, the adoption of health monitoring devices are expected to nearly treble by 2020 – reaching over 70 million globally and almost triple the 26 million this year.
The Worldwide Digital Health: Developed and Emerging Market Opportunities 2016-2020 report expect the use of monitoring devices to have a speedy rise as new entrants gain official approval from organisations like the FDA in the US. However, it also highlights the need for new entrants to prove that their hardware is able to measure health indicators with the same accuracy as standard medical devices.
Paving the Way for Connected Personal Health
The research argues that greater consumer affinity with connected monitoring devices will in turn be accompanied by an upsurge in the adoption of mobile and cloud health platforms such as Apple Health and Google Fit.
Furthermore, it claims that the ‘Big Data’ collected by such monitoring devices presents a significant medium term opportunity for platforms such as IBM Watson Health Cloud. These already offer greater insight into health information and enable more efficient decision making through data analytics.
The Future of Genomics
The research also argued that with companies, such as Illumina, now mapping a large number of individuals’ genomes, healthcare providers will increasingly have access to unique sets of genomic information.
This will offer the potential for healthcare providers to offer personalised plans based on that individual’s genetic traits and susceptibility to diseases such as cancer, including treatments which have previously achieved positive results when delivered to patients with similar genomes.
Other interesting findings from the research include:
- Heightened accuracy from the latest iteration of monitoring devices will lead to a fourfold increase in the number of individuals being monitored by 2020. Interoperability with personal smartphone devices will add further value for the patient.
- While the number of individuals using mHealth information services is expected to increase from 60 million this year to 150 million by 2020, growth is constrained by the lack of viable business models underpinning the operations in many developing markets.