- This content is produced by The Australian Financial Review in commercial partnership with the Commonwealth Bank The Internet of Medical Things presents a range of new opportunities for medical businesses and entrepreneurs, claims Mark Dougan, Frost and Sullivan’s Consulting Director for Asia-Pacific.
- This was one of the business opportunities in the future Internet of Medical Things market – estimated to be worth $20 billion by the beginning of next decade – laid out by Mr Dougan for businesses in the healthcare sector at the recent Australian Healthcare Week conference in Sydney.
- In the very near future, wearable devices will be able to track every aspect of health and fitness and – when combined with artificial intelligence, robotics and the Internet of Medical Things – there are many opportunities for businesses and practitioners throughout the medical industry.
- Mr Dougan did warn that there are risks for businesses in the Internet of Medical Things, and cited six common points of failure — ranging from products beings too complex and not interoperable, through to misdirected business models.
- “How does your device or solution integrate primary and home-based care; who do you need to partner with; how effectively can you reach the end patient; what’s your business model; and finally, how can you as an organisation transform and disrupt how healthcare is delivered.”
The Internet of Medical Things presents a range of new opportunities for medical businesses and entrepreneurs.
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