Connected Devices To Foster The Growth Of Emergency Telemedicine Market Through 2026
Emergency telemedicine services refer to the utilization of technology used in telecommunication by emergency healthcare providers for offering timely and real time medical care and services, diagnostics and treatment. Healthcare sector has observed paradigm shift in an approach towards offering emergency medical services owing to the integration of information technology and telecommunication in this sector. Utilization of connected devices for real time patient monitoring and diagnosis has been trending in the market. According to Pew Internet organization, about 49% of world’s population has been connected online and about 8.4 billion connected devices are in use. Connected devices in healthcare improves the patients care efficiency from data collection perspective and also by using AI in connected devices for remote monitoring. Moreover, according to software organization, the U.S. spend about 18% of its GDP on healthcare and with the help of connected devices in diagnostic treatment, chronic disease management and preventive care U.S. GDP on healthcare could reduce by more than $300 billion. This has promoted an adoption of connected devices thereby driving the market growth for emergency telemedicine services globally.
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Emergency telemedicine services offering timely treatment and real time monitoring capabilities
Emergency telemonitoring through real-time monitoring devices push the relevancy of data interpretation up and reduce the time users or patients spend in order to provide timely treatment. In healthcare, real time monitoring devices are trending as these devices are helpful to detect and prevent undesirable patient outputs. The rising number of mobile devices equipped with internet of things and artificial intelligence assist in predicting future outcomes regarding health is also aiding to the market growth. For instance, emergency conditions such as Cardiovascular diseases are responsible for over 17.3 million deaths each year according to American Heart Association. Artificial intelligence in real-time monitoring system can enable predictive capability which may prevent cardiac incidences and can also enable patients to take preventive action to mitigate cardiac failure. Moreover, in real time monitoring system artificial intelligence assert great control in care management through devices which allow them to monitor the patients’ health conditions constantly. Real time monitoring system can help in monitoring patterns and allow healthcare professional to predict which of the patients are likely to develop future complications or need further interventions. According to the US based Henry J Kaiser Family foundation, inpatient expenses per patient per day was estimated to remain about $2424. Moreover, average daily cost of healthcare in US also involves infrastructure, human resource and unnecessary capital cost. However, by the introduction of remote monitoring products patients can move their home from hospital while retaining monitoring of their status by doctors this help in cost reduction in the patient’s treatment. Connected devices allow patients to report critical data regularly and reliably in a real time situation best suited in emergency healthcare services. Thus, increasing adoption of IT in healthcare has helped to greatly transform the sector.