Traditionally, the pharmaceutical industry has been slower to implement advanced technology than other sectors.
However, the rapid rate of which technology implemented throughout society has forced the hand of the pharma industry to wait no longer.
The IoT market value in healthcare was $41.22 billion in 2017. By 2022, the healthcare IoT market is projected to be at $158.07 billion.
This growth in the market value of IoT in healthcare speaks volumes of how important this technology is for the healthcare sector going forward.
IoT will continue to transform the way pharma companies operate and will be essential for success.
One of the main ways IoT can benefit healthcare is by being deployed in clinical trials.
Malcolm Bohm, CEO of Liquid Grids said, “Recruiting patients for clinical trials can become more mainstream and leveraging actual patient feedback can inform how we should reach and connect with them in the true context of their lives.”
Below we have put together an infographic displaying how IoT can impact pharma going forward into the future:
If you have any questions, comments, or believe we have left anything out that’s worth mentioning, please feel free to leave them below in the comments!